Global Liquid Crystal Polymers market to CAGR of over 5% from 2016 to 2022

16-Jul-16

Global Liquid Crystal Polymers (LCPs) market standing at US$650.1 mln in 2016 and projected to touch US$883.2 mln by 2022 growing by a 2016-2022 CAGR of 5.2%. Asia-Pacific leads the global market for LCPs, forecast to be US$525.7 mln (80.9% share) in 2016, which is also likely to record the fastest CAGR of 5.5% over 2016-2022 and reach a projected US$723.2 million by 2022, as per Research and Markets.

Liquid Crystal Polymer (LCP), a high performance engineering plastic, is partially crystalline aromatic polyester based on p-hydroxybenzoic acid (HBA) and other related monomers. The chemical structure and morphology of LCPs is vastly different compared to conventional polyester polymers, due to which there are considerable differences between the two not only in physical and mechanical properties, but also in processability. LCPs have outstanding mechanical properties at high temperatures, excellent chemical resistance, inherent flame retardancy and good weatherability. LCP molecules remain well-ordered even in the melt and slide past each other easily under shear. Due to these unique properties, LCP products have proven successful in a variety of applications, including sockets, bobbins, switches, connectors, chip carriers, dental tools, surgical instruments, pumps, meters and valve liners. In particular, the demand for LCPs in the trend of downsizing and thinning of the electrical and electronic components sector has dramatically increased.