Outlook of Liquid Crystal Polymer Market status and development trends reviewed in new report
Liquid Crystal Polymer Market
to exceed USD 650 million by 2024; according to a new research report by Global
Market Insights, Inc. 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.
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.
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 market size from medical application should witness gains at
over 4.5% during forecast period owing to strong application scope in medical
devices & equipment industry. Product ability to substitute other materials
like polyphenylene sulfide, nylon and polyphthalamide in medical device
industry should strengthen industry growth.
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.
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.
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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.
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Corporate Sales, USA
Global Market Insights, Inc.
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Outlook of Liquid Crystal Polymer Market status and development trends reviewed in new report
Reviewed by Pradip Varpe
on
January 05, 2018
Rating:
Reviewed by Pradip Varpe
on
January 05, 2018
Rating:
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