Sellbyville, DE -- (SBWire) -- 12/14/2018 --The qualitative research study conducted by Global Market Insights, Inc. titled "Liquid Crystal Polymer (LCP) Market" provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Liquid Crystal Polymer (LCP) Market.
Liquid Crystal Polymer (LCP) Market size is set to exceed USD 650 million by 2024. Increasing consumer goods demand & strong application outlook in ultra-compact electronic devices like mobiles, laptops & televisions and electrical devices like motors, stators, sockets & PCB's should drive liquid crystal polymer market size. Rising per capita income along with growing living standards should complement product demand.
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LCP's are high performance engineering plastics based on p-hydroxy phthalic acid (HPA) and related monomers. It has wide application outlook in packaging and consumer goods industry owing to its mechanical & physical properties and processability. It also offers excellent mechanical properties at high temperature, chemical resistance and weatherability.
Liquid crystal polymers market size from automotive application should grow at over 5.5% during projected period. This growth in product demand can be ascribed to consumer demand for high-end vehicles and inclination towards miniaturizing electronic devices. LCP's can be melt processed on any conventional equipment into thin as well as heavy wall components at fast speed propelling industry growth.
U.S. liquid crystal polymer industry size will witness steady gains in revenue generation surpassing USD 90 million by 2024. This regional industry growth can be attributed to strong R&D investments for product enhancements. Growing demand for non-petroleum based and environment friendly materials in like automobiles, electronics and consumer goods industries will further bolster product demand.
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Key feedstock materials required for liquid crystal polymer production include p-hydroxy benzoic acid and p-hydroxy phthalic acid. Application of these raw materials in numerous end-use industries may restrain supply-demand dynamics and high production cost of the end-product might hinder industry growth. Recent surge in application in packaging microelectromechanical systems (MEMS) should drive LCP market size.
Liquid crystal polymer are also wide application in production of sockets, bobbins, connectors, switches, chip carriers, dental tools, pumps, meters and valve liners. These materials emit low viscosity and high flowability filling intricate molds completely making liquid crystal polymers a good choice for manufacturing ultrathin and miniature parts of thickness less than 0.1 mm and shorter cycle times.
Liquid crystal polymer market size from consumer goods application will grow significantly by 2024 due to good microwave frequency conductivity with low dissipation factors, commercial availability and relatively low dielectric constant. It is widely used in manufacturing microwave friendly utensils, containers and packaging.
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Germany LCP market size should signify steady growth and surpass USD 20 million by 2024. These gains can be attributed to increasing number of automobile and OEM industry participants who focus on using lightweight and high-performance materials to comply emission standards set forth by environment protection agencies and improve fuel efficiency.
Global liquid crystal polymers market share is competitive & moderately fragmented with industry participants including Toray, RTP Co., Zeus Industrial, Sumitomo Chemical, Solvay and Celanese. Companies concentrate on improving their distribution network towards other regions and set up manufacturing plants near raw material sources. They adopt strategies including mergers, acquisitions and partnerships to increase their production capacity and expand regional presence.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Liquid Crystal Polymer Market Growth & Forecast 2018-2024 by Top Manufacturers – Celenese, Solvay, Sumitomo, Polyplastics Co., Toray International, Kuraray and RTP Co.
Increasing consumer goods demand & strong application outlook in ultra-compact electronic devices like mobiles, laptops & televisions and electrical devices like motors, stators, sockets & PCB’s should drive liquid crystal polymer market size.