Liquid Crystal Polymers (LCP) Market Revenues to Reach USD 1.20 billion by 2029 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Liquid Crystal Polymers (LCP) Market Report (2023-2029),” the market is estimated at USD 769.80 million in 2023. It is expected to register a CAGR of 8.27% during the forecast period.

Electrical and electronics is a sizable end-user industry. Composites of LCP are mostly utilized in the electronics industry, owing to rapid innovation and their dielectric properties and chemical resistance. Accordingly, the industry occupies the highest share. Aerospace is the fastest-growing end-user industry. Since LCP is adopted in microelectronics in the aerospace industry, the segment is projected to witness the fastest growth in the market.

Report Summary:

Who are the Top Companies in the Liquid Crystal Polymers (LCP) Market?

The global LCP market is fairly consolidated, with the top five companies dominating 80.34% of the market.

The noteworthy players holding the global LCP market are:

• Celanese Corporation
• Daicel Corporation
• Kingfa Sci. & Tech. Co. Ltd
• Ningbo Jujia New Material Technology Co. Ltd
• Shanghai PRET Composite Material Co. Ltd
• Shenzhen WOTE Advanced Materials Co. Ltd
• Solvay
• Sumitomo Chemical Co. Ltd
• Toray Industries Inc.
• Ueno Fine Chemicals Industry Ltd

Other Reports That Might Be of Your Interest:

• Global Water-Soluble Polymer Market Report - The global water-soluble polymer market size is expected to grow from USD 35.00 billion in 2023 to USD 45.71 billion by 2028 at a CAGR of 5.48% during the forecast period (2023-2028).
• North America Polyvinyl Chloride (PVC) Market Report - The North America Polyvinyl Chloride (PVC) Market size is estimated at USD 4.98 billion in 2023 and is expected to reach USD 5.72 billion by 2028 at a CAGR of 2.81% during the forecast period (2023-2028).

Key Highlights from the Liquid Crystal Polymers (LCP) Market Report:

 Technological Innovations in the Electronics Industry

• Liquid crystal polymers (LCP) exhibit versatile properties like resistance to creep, chemicals, impact, and abrasion. LCPs also have high dielectric and mechanical strength, due to which they are used widely in electronics, aerospace, and industrial machinery industries. The LCP market accounted for 0.65% of the revenue of global engineering plastics in 2022.
• The electrical and electronics industry was the largest consumer of LCP resins in 2022. The rising trend of using high-strength and lightweight materials in consumer electronics is expected to drive the demand for LCP resin. Revenue of the global consumer electronics industry is projected to reach USD 1,103 billion by the end of 2023 and grow annually by 2.17% till 2027.

 APAC Region Anticipated to Dominate the Market

• LCPs are widely used for various applications, such as in thin-walled high-precision parts exposed to high heat. LCP's key applications are in the automotive, electrical and electronic, and industrial machinery end-user industries. They accounted for a 0.65% share of the international engineering plastics market in 2022 by revenue.
• The Asia-Pacific region observed a 3.70% growth in value in 2022 over 2021. With an upsurge in demand for technology, gaming consoles, and electronic devices, owing to companies adopting work-from-home models and people setting up home offices, the international LCP market is likely to increase.

What are the Latest Developments in the Liquid Crystal Polymers (LCP) Market?

• In April 2022, Kingfa SCI. & TECH. Co. Ltd announced expanding its annual LCP production capacity by 6 kilotons by the end of the last month of 2023.
• In January 2022, Sumitomo Chemical announced building additional production lines for its liquid crystal polymer (LCP) SUMIKASUPERTM at Ehime Works (Niihama, Ehime, Japan).

Mordor Intelligence has Segmented the Liquid Crystal Polymers (LCP) Market Based on End-user Industry and Region:

• By End-user Industry
  • Aerospace
  • Automotive
  • Electrical and Electronics
  • Industrial and Machinery
  • Other End-user Industries
• By Region
  • North America
    • United States  
    • Canada  
    • Mexico 
  • Europe  
    • United Kingdom  
    • Germany  
    • France  
    • Italy 
    • Russia 
    • Rest of Europe  
  • Asia-Pacific  
    • China  
    • India  
    • Japan  
    • Australia 
    • Malaysia
    • South Korea
    • Rest of Asia-Pacific  
  • South America  
    • Brazil  
    • Argentina  
    • Rest of South America  
  • Africa  
    • Nigeria
    • South Africa 
    • Rest of Africa   

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Liquid Crystal Polymers (LCP) Market Report (2023-2029).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• Polyphenylene Sulfide (PPS) Resin Market Report - The polyphenylene sulfide (PPS) resin market is expected to register a CAGR of around 5% during the forecast period.
• Isobutylene Market Report – The global isobutylene market is projected to register a CAGR of more than 4% during the forecast period.
• Polyaryletherketone (PAEK) Market Report - The polyaryletherketone (PAEK) market is expected to register a CAGR of greater than 6% during the forecast period.

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

Attachment

• Liquid Crystal Polymers (LCP) Market - Mordor Intelligence