Liquid Crystal Polymer market to register CAGR of 6% between 2015 and 2020 to reach US$ 1.2 bln

16-Feb-16

Liquid crystal polymers (LCPs) are chemically aromatic co-polyesters. But they differ from the engineering plastics PET and PBT most notably in their molecular structure. They are known for their high temperature resistance, excellent mechanical properties, good solvent resistance and low water absorption compared to other heat-resistant polymers. They have good electrical insulation properties, low flammability and a low coefficient of thermal expansion. LCPs exhibit very low viscosity and high flow to completely fill small and intricate molds, making LCPs the favorite choice for making miniature and ultrathin parts down to 0.1-mm wall thickness with extremely short cycle times. LCPs are used in electrical, automotive, chemical processing, medical, and household applications. They are also used for oven and microwave cookery. The LCPs market is projected to register a CAGR of 6% between 2015 and 2020 to reach US$1.2 bln by 2020, as per ReportLinker. Electrical & electronics segment is estimated to be the largest application of the LCPs market. Liquid crystal polymer segment is projected to grow at the highest rate in global LCPs market between 2015 and 2020. Increasing engineering resin substitutes for ultra-thin components is one of the major reasons for the growth in this market. Asia-Pacific is leading the LCPs market. Growth in Asia-Pacific is led by the rising demand from electrical & electronics applications, consumer goods, and automotive, lightning, medical applications. Major brands like Polyplastics (Japan), SUMIKASUPER LCP by Sumitomo Chemical (Japan) and SIVERAS LCP by Toray international (Japan) are the major players which dominate this market. The demand is expected to grow at a comparatively slower pace in North America and Europe as LCPs market has nearly saturated in the region. XYDAR LCP by Solvay S.A. (Belgium) and Vectra/Zenite by Celanese Corporation (U.S) are the majors brands which cater to the European and the North American region respectively.