Approximately 46,582 KT of liquid crystal polymer (LCP) were sold in 2018, and sales are envisaged to pick pace by approximately 5% in 2019, as per a report by Fact.MR. The radical increase in the applications of liquid crystal polymer in electronics & electrical industry, which led to ~70% sales of LCP will continue to pace up lucrative growth avenues for market players through 2029, says the report. Growing penetration of miniaturization trend in electronics & electrical industry has attained all the limelight of stakeholders that are looking forward to expand their product applications.
As the automotive industry continues to embrace the trend of lightweight vehicles, in line with the growing demand for better performing motors and efficient fuel consumption, LCP is emerging as a viable substitute for heavy metal components. Increasing applications of liquid crystal polymer in auto industry led to ~13% sales of LCP in 2018. In thriving automotive industry, LCP is primarily witnessing traction for use in fuel contact components and battery components. Moreover, favorable properties of LCP, such as high chemical resistance, thermal resistance and good mechanical strength along with benefits of light weight continue to make liquid crystal polymers a material of choice for wide applications. Sales of liquid crystal polymer are intensifying at a rapid pace, with a multitude of applications, ranging from electrical & electronics, and automotive to customer goods, sports, leisure and medical verticals. As per the study, the rapidly emerging technologies, such as 5G communication, 3D printing hold high stakes of growth for the liquid crystal polymer market during the foreseeable period.
The study opines a group of researchers have recently developed a new grade of recyclable LCP for fused deposition modelling (FDM) 3D printing, which promise several benefits over the traditional ink models. The potential role of new grade LCP product in revolutionizing the 3D printing technology is anticipated to fillip growth prospects of the market players. 5G communication, on the other hand has emerged as a goldmine of applications for liquid crystal polymer during the forecast period. High flowability, high thermal stability, low water absorption, and low shrinkage properties of LCP, along with ability to fill thin-walled and small products in injection molding are paving way for its multitude applications in building 5G infrastructure. Although LCP resin & compounds witnessed ~75% of the overall sales in 2018, and are witnessing significant adoption, the analysis indicated that the lucrativeness of liquid crystal polymer films is likely to grow by the end of the forecast period, as they are envisaged to expand at ~6% CAGR during 2019 and 2029. This can be attributed to the growing traction for liquid crystal polymer films to develop high in demand flexible printed circuits and for semiconductor packaging. Furthermore, increasing applications of LCP films in flexible solar cells, owing to its exceptional heat resistance and low water absorbency are also underpinning gains for the market. As per the study, LCP fibers will continue to lose its applications to aramid fibers.