The global market is projected to grow at a consistent CAGR of 5% from 2021 to 2031, reaching a valuation of US$ 2 billion. Excellent qualities of liquid crystal polymers (LCPs) include their ability to resist fire at high temperatures and chemicals in applications requiring very thin walls. They therefore have enormous potential for a wide range of applications that rely on an optical or mechanical reaction to outside stimuli.

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The demand for liquid crystal polymer is expected to increase over the forecast period due to its superior properties, such as high strength, chemical and heat resistance, light weight, flame retardancy, good electrical properties, and low coefficient of thermal expansion. This material is also used in a wide range of applications, such as automotive, consumer electronics, aerospace, healthcare, and medical devices. The increasing demand for lightweight and high–performance materials, particularly for automotive and consumer electronics, is a major driver for the liquid crystal polymer market. Additionally, the growing demand for smart devices, such as wearables, is expected to increase the demand for liquid crystal polymers. Increasing government initiatives to promote renewable energy sources and the development of energy efficient devices are also expected to propel the growth of the liquid crystal polymer market.

Key Companies

• Celanese Corporation,
• Polyplastics Co Ltd.
• Sumitomo Chemical Co., Ltd.
• Toray Industries Inc.
• Solvay S.A.
• Ueno Fine Chemicals Industry, Ltd.
• Shanghai PRET Composites Co.

Liquid Crystal Polymer Market Segmentations:

• By Form
  • LCP Resins Compounds
  • Liquid Crystal Polymer Films
  • Liquid Crystal Polymer Fibers
• By Application
  • Electrical Electronics
    • Connectors
    • Flexible Circuits
    • Printed Circuit Boards
  • Automotive
    • Lamp Holders
    • Connectors
    • Electronic Components
    • Ignition Transmission Components
  • Aerospace Defense
  • Consumer Goods, Sports Leisure
  • Industrial
    • Measuring Instruments

Key Manufacturers of Liquid Crystal Polymer

Several companies are investing in RD to eliminate the risk factor associated with prevailing substitutes in the market. In light of the growing lucrativeness of the market in Asia Pacific, a number of companies have shifted their focus towards the region to squeeze higher gains.

• In January 2019, Celanese Corporation acquired Indian firm Next Polymers Ltd., which deals in engineered plastics compounding, such as liquid crystal polymers, to expand its market presence in Asia Pacific. In February 2019, the company also purchased leading India polymer manufacturer OmniPlastics to extend its geographical reach, increase its product portfolio, and appeal to a wider pool of customers.

Competitive Landscape

Market frontrunners are constantly leveraging novel materials and exploring potential applications of liquid crystal polymers to maintain their standpoint. New product development and customized application-based offerings have emerged as a key strategy of market players to gain an extra edge in the market, which is heading towards intensifying competition.

Some of the key developments are:

• In July 2019, Sumitomo Chemical developed three new LCPs, which include SumikaSuper E6205L, SumikaSuper SR1205L, and SumikaSuper SZ6911EM. These LCPs are specifically designed for high-speed connectors such as backplanes and automotive connectors for infotainment.