Global liquid crystal polymers (LCP) market demand was 42.8 kilo tons in 2012. Rapid
miniaturization of electronic components such as connectors and surface mount
devices is expected to remain a key driving factor for global LCP market over
the forecast period. Denser component packaging coupled with higher fabrication
temperature offered by LCP is also expected to have a positive influence on the
market growth.
Shift in trend towards
miniaturization of electrical components such as surface mount device and
connectors is expected to drive global LCP market. Growing demand for
lightweight, high performance materials from automotive industry in order to
improve fuel efficiency is also expected to have a positive influence on the
market growth. Lower welding strength and warpage associated with LCP is expected
to remain a key challenge for market participants.
Electrical
& electronics emerged as the leading application segment and accounted for
81.5% of total market volume in 2013. Growing engineering resins demand for
manufacturing ultra-thin electrical components is expected to remain a key
driving factor for this segment. LCP is favored over other engineering resins
such as polyphenylene sulfide (PPS), nylon 46 and polyphthalamide (PPA) which
has further propelled market growth. Electrical & electronics is also
expected to witness the highest growth rate of 8.9% over the forecast period.
LCP demand from automotive industry is expected to grow at an estimated CAGR of
7.3% from 2014 to 2020. Shift in trend towards adoption of lightweight, high
performance materials from automotive industry particularly in the U.S. and
Europe is expected to drive this segment.
Access Research Report
of Liquid Crystal Polymers
Market@ http://www.grandviewresearch.com/industry-analysis/liquid-crystal-polymers-market
Further key findings from the study suggest:
· Global LCP demand was 46.1 kilo tons in
2013 and is expected to reach 81.7 kilo tons by 2020, growing at a CAGR of 8.6%
from 2014 to 2020.
· China was the leading regional market and
accounted for 46.1% of total market volume in 2013. China is expected to
continue its dominance over the forecast period owing to rapid expansion of
electronics & electrical industry in the nation. Other Asian countries such
as India, Japan, South Korea and Taiwan are also expected to witness steady
growth over the forecast period.
· Industrial machinery applications include
ceramic material substitutes and mass transfer packaging in chemical
industries. Increasing industrial machinery demand particularly in China and
other Asian countries is expected to complement regional market growth.
· North American LCP market is expected to
reach USD 241.4 million by 2020, growing at an estimated CAGR of 7.3% from 2014
to 2020.
· Global LCP market is highly consolidated
with top four companies accounting for over three-fourth of total market. Some
major companies operating in the global LCP market include Celanese
Corporation, Polyplastics Co., Ltd, Solvay S.A and Sumitomo Chemical. Other
companies include Toray International, Inc, Samsung Fine Chemicals and Ueno
Fine Chemicals Industry Ltd.
Grand
View Research has segmented the LCP market on the basis of application and
region:
Global Liquid Crystal Polymer (LCP)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
·
Electrical
& Electronics
·
Industrial
Machinery
·
Automotive
·
Others
Global Liquid Crystal Polymer (LCP)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
·
North
America
·
Europe
·
China
·
Rest
of Asia Pacific
Access Press Release of Liquid Crystal Polymers
Market@ https://www.grandviewresearch.com/press-release/global-liquid-crystal-polymers-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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Information: www.grandviewresearch.com
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