Pune, India -- (SBWIRE) -- 08/10/2018 -- Market Insights
The Global Liquid Crystal Polymers (LCP) Market is due to grow significantly during 2015 to 2022. Market Research Future (MRFR) has estimated an evaluation of USD 1.28 billion by 2022 in its LCP market research report. The report provides a comprehensive view of the market, and its components and MRFR's unique insights indicate upcoming trends and opportunities.
Increasing demand for engineering resins is a major motivator of growth for this market. The demand is largely driven by ultra-thin electrical components manufacturers who choose LCP over various other types of engineering resins. With the growing demand for lightweight and high-performance materials, the market for LCP is expected to grow significantly over the forecast period. This is due to LCP's ability to improve fuel efficiency and reduce carbon emissions due to its aforementioned properties.
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A low welding strength and potential for distortion associated with LCP are some challenges that are expected to restrict growth. However, there is a rising demand for this product across various applications such as the high demand for semiconductors, which is likely to overlook restrictions and allow continued market growth over the forecast period.
The Global Liquid Crystal Polymers Market is segmented by Type, Application and Region.
Based on Type, the market has been segmented into thermotropic and lyotropic. Based on application, the market has been segmented into electronic & electrical, automotive, consumer goods, surgical device, and others. Based on region, the global market has been segmented into North America, Europe, Asia Pacific (APAC) and the Rest of the World (Row).
Asia Pacific dominates the Global LCP Market due to the strong presence of prominent market players in this region. China is one of the leading markets, followed by Japan and South Korea in this region and will continue to show dominance over other regions during the forecast period. Japan is one of the largest manufacturers of LCPs worldwide. The rapid expansion of the electrical and electronics industry is largely responsible for this region's dominant market share. There are rising investments in the manufacturing of LCPs and in technological developments in this region that indicates the APAC is expected to witness robust growth.
North America and Europe are also expected to witness steady growth during the forecast period. This is owing to the high demand for LCPs in the automotive and medical industry verticals due to their properties of being lightweight and high-performance capabilities.
Analysis of key strategies used by market leaders provides an understanding of the competitive landscape and a deeper insight into opportunities and trends in the liquid crystal polymers market. MRFR's research report features Polyplastics Co. Ltd., Polyone Corporation, Samsung Fine Chemicals Co. Ltd., Sumitomo Chemical Co. Ltd., Celanese Corporation, Solvay S.A., Ueno Fine Chemicals Industry Ltd., Toray International Inc., Shanghai Pret Composites Co. Ltd. and Vectra/Zenite LCP
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Latest Industry News
Noctua has created a new fan with a 0.5mm clearance between blade and frame. A new plastic named Sterrox LCP with high tensile strength and low thermal expansion has been used to create an efficient fan which is has stiffer blades and is relatively quiet. The new Sterrox LCP is a glass-fiber reinforced liquid crystal polymer.
An international research team has developed a method to manipulate liquid crystals that would increase the viewing angle on LCD TVs. The researchers worked with several LCPs composed of long molecules, finding that a minuscule variation in the structure changed their orientation. The technology used to do this is considerably cheaper and could revolutionize the LCD TV market.