Pune, India, Jan. 31, 2022 (GLOBE NEWSWIRE) -- The global liquid crystal polymers market was valued USD 1,517.78 million in 2021 and is projected to grow at a CAGR of 9.23% during the forecast period, as per a detailed market study by Quince Market Insights.
Liquid crystalline (LC) polymers are high-molecular-mass substances that exhibit an intermediate (mesomorphic) behavior between the ordinary liquids and crystalline compounds.
LCP films and sheets are well suited for many medical, chemical, electronic, beverage, and food packaging applications. They are more impermeable to water vapor, oxygen, carbon dioxide, and other gases than typical barrier resins.
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LC polymers are much more expensive than standard thermoplastics but have excellent mechanical and electrical properties and outstanding chemical resistance. They are used for very demanding applications in many industries. Examples include ultra-high-strength and lightweight fibers and cables, bulletproof vests, tennis strings, hockey sticks (as a composite), snowboards, tire reinforcement, jet engine enclosures, brake and transmission friction parts, and gaskets.
LC polymers are also widely used as functional materials in all kinds of optic and optoelectronic devices because their anisotropic material properties such as refractive index, birefringence, selective light reflection and transmittance, color characteristics are tunable by temperature, mechanical stress, and electromagnetic radiation and fields. Important applications include temperature-sensing, data storage, display technology, telecommunication and numerous other optic and optoelectronic products.
COVID-19 Impact on the Liquid Crystal Polymers Market
Due to the lockdown in several countries and the stoppage of manufacturing factories, Covid-19 has had a negative impact on LCP demand in 2020. For example, according to OICA data, worldwide car output fell dramatically in 2020 as a result of the pandemic, with a loss of 16 percent. As a result, LCPs' radars, sensors, and other components had negative growth throughout this time. Furthermore, one of the key reasons affecting the electronics sector during the pandemic was the disruption of raw material supplies.
Market Segmentation
By End User
The end user segment of the market is divided into electrical & electronics, consumer goods, automotive, lighting, medical, others. electrical & electronics segment is projected to capture the largest market share. Chemical resistance, low extractables, and biocompatibility are all advantages of LCPs. They are ideal options for electrical and electronic applications due to their flame retardancy and dielectric characteristics.
By Brands
The brands segment is expected to be divided into laperos LCP, vectra/zenite LCP, sumikasuper LCP, xydar LCP, siveras LCP resin, others. Vectra/zenite LCP is projected to be the largest segment. Vectra and Zenite liquid crystal polymer (LCP) is a halogen-free, high-performance polymer family that provides high-temperature performance in environmentally friendly thin-wall applications with extremely accurate and specific dimensions.
By Type
The type segment is divided into thermotropic, lyotropic. Thermotropic segment is expected to capture the largest market share. Thermotropic liquid crystalline polymers (TLCPs) are widely used as commercial engineering polymers because they have excellent thermal characteristics, low viscosity, and can be processed above their melting point.
By Phase
The phase segment is divided into nematic phase, smectic phase, cholesteric phase, discotic phase. Nematic phase is projected to be the largest segment. The nematic (N) liquid crystalline phase is the most well-known and studied mesophase in terms of technology (nematic, smectic, cholesteric, and columnar). Because they best show the dual nature of liquid crystals, nematics are also the most used. Polymers, colloids, and surfactants have all been used to provide new application possibilities.
by Shape
The shape segment is divided into disc-shaped molecules, banana-shaped molecules. Banana-shaped molecules is projected to be the largest segment. The growth of the segment is on account of increasing use of switching electro-optical systems with banana-shaped liquid crystals. These systems have faster switched times, a broader viewing angle, continuous gray level, better clear state transmittance, reduced power consumption, and no threshold voltage.
By Application
The application segment of the market is segmented into soap, conducting foam, LC thermometer, displays, kevlar, heat sensitive cameras, solar cells, optical imaging, others. LC thermometer is projected to be the largest segment of the market. A thermometer with heat-sensitive (thermochromic) liquid crystals in a plastic strip that change color to show different temperatures is known as a liquid crystal thermometer, temperature strip, or plastic strip thermometer.
By Category
The category segment of the market is divided into main chain LC polymers, side chain LC polymers. Main lyotropic chain LCPs have mostly been utilized to make high-strength fibers like Kevlar. Hydrophobic and hydrophilic segments are commonly seen in side chain LCPs.
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By Region
In the liquid crystal polymers market, there are five major regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America.
The fast expansion of the electrical and electronics industry is driving the growth of the liquid crystal polymers market in Asia Pacific. The demand for liquid crystal polymers from various applications in Asia Pacific is predicted to continue to rise due to rising local demand and more inexpensive manufacturing facilities. This area is expected to be an attractive location for the liquid crystal polymers market to grow due to rising population and demand, as well as initiatives for new technologies and products. Liquid crystal polymers are in high demand in the region because to the developing electrical and electronics, vehicle, and consumer products industries.
Recent Developments in the Market
- In September 2021, Polyplastics Co. Ltd decided to build a new polymerization facility at Polyplastics Taiwan Co. Ltd with a production capacity of 5,000 tons per year.
- In January 2021, Celanese Corporation announced plans to develop a multi-phase LCP polymerization plant in China to enable a substantial increase in its high-value Vectra and Zenite LCP product lines.
- October 2020 - Polyplastics Co. Ltd completed acquisition of total shares of Polyplastics Co. Ltd from Celanese.
Major companies operating in the global market include Polyplastics Co., Ltd (Japan), Celanese Corporation (U.S.), Solvay S.A. (Belgium), Toray Industries, Inc. (Japan), and Sumitomo Chemicals Co. Ltd. (Japan).
To Find more insights on this topic, visit Quince Market Insights report titled, “Liquid Crystal Polymers Market, by End User (Electrical & Electronics, Consumer Goods, Automotive, Lighting, Medical, Others), by Brands (Laperos LCP, Vectra/Zenite LCP, Sumikasuper LCP, Xydar LCP, Siveras LCP Resin, Others), by Type (Thermotropic, Lyotropic), by Phase (Nematic phase, Smectic Phase, Cholesteric Phase, Discotic Phase), by Shape (Disc-Shaped Molecules, Banana-Shaped Molecules), by Application (Soap, Conducting Foam, LC thermometer, Displays, Kevlar, Heat Sensitive Cameras, Solar cells, Optical imaging, Others), by Category (Main Chain LC Polymers, Side Chain LC Polymers)”
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