Liquid Crystal Polymers Market to Grow at $1,447.9 million by 2023: COVID Impact & Post COVID Analysis, Business Opportunities, and Strategies



 Liquid Crystal Polymers are aromatic polyesters that are partially crystalline and made from p-hydroxybenzoic acid and similar monomers. When LCPs are in the liquid phase, they produce areas of highly ordered structures, although the degree of order is lower than that of a typical solid crystal. LCPs have exceptional features like high-temperature fire resistance and chemical resistance in thin-walled applications. As a result, LCPs have a lot of potential in a wide range of applications that rely on an optical or mechanical response to external stimuli. The global liquid crystal polymer market was valued at $1,037.4 million in 2017 and is expected to reach $1,447.9 million by 2023, growing at a CAGR of 5.7 percent.

The electrical and electronics segment is expected to be the Liquid Crystal Polymer market's largest application. Between 2015 and 2020, the medical category is expected to develop at the fastest rate in the LCPs market. The market is likely to be driven by increased demand for LCPs from end-user sectors such as electrical & electronics, consumer goods, automotive, lighting, medical, and others. Furthermore, the market for LCPs is driven by their better characteristics and the rising availability of engineering resin alternatives for ultra-thin components. The market is projected to be restrained by rising LCP costs, as well as significant warpage and poor warp strength.

LAPEROS LCP by Polyplastics (Japan), SUMIKASUPER LCP by Sumitomo Chemical (Japan), XYDAR LCP by Solvay S.A. (Belgium), Vectra/Zenite by Celanese Corporation (U.S.), and SIVERAS LCP by Toray International (Japan) are some of the major brands expected to dominate the market during the forecasted period. To enhance their position in the Liquid Crystal Polymer market, these companies are focusing on methods such as expansion and new product development.

The competitive circumstances of the main Liquid Crystal Polymer market companies have been thoroughly examined. We've also profiled the industry's top players, including their recent innovations and other key industry activity. Polyplastics Co., Ltd. (Japan), Celanese Corporation (US), Sumitomo Chemical (Japan), Solvay S.A. (Belgium), and Toray International are among the major firms.

The market is categorized based on applications, such as electrical & electronics applications, consumer goods, automotive, lighting, medical, and others. PAPERS LCP, SUMIKASUPER LCP, Vectra/Zenith LCP, SIVERAS LCP, XYDAR LCP, and other applications are segmented in the market. The research goes into greater detail about each brand's market share. The Liquid Crystal Polymer market is segmented at the regional level, with North America, Asia-Pacific, Europe, and the Rest of the World, as well as important nations in each region.

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