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Global Liquid Crystal Polymers (LCP) Market Demand & Forecast Analysis, 2016 - 2032

Liquid Crystal Polymers (LCP) Market

The global Liquid Crystal Polymers (LCP) market is projected to exhibit strong growth from 2023 to 2032, with a CAGR of 6.4% during this period. This growth can be attributed to increasing demand from Electrical & Electronics industry.

Introduction
Liquid Crystal Polymers (LCP) are aromatic polyesters by composition that exist in liquid crystal state. They exhibit a partially crystalline structure and their molecules are largely aligned. They have remarkable physical properties and chemical inertness by the virtue of which are capable of replacing metals, ceramics and several other engineering plastics in high-end applications. LCPs finds use in electronic components like printed circuit boards and surface mounted devices to name a few. Electrical & Electronics and Consumer Electronics are so far the largest consumers of LCP and will continue being the major consumers in the long term forecast. Other applications for LCPs include: Automotives (power trains of hybrid cars), Industrial, Medical and other applications like Aerospace and Bakeware.
Global LCP Demand Analysis, By Application - 2016-2032 (Kilo Tons)

Liquid Crystal Polymers Market-Global LCP Demand Analysis, By Application - 2016-2032 (Kilo Tons)

Source: Secondary & Primary Research and Prismane Consulting estimates

LCPs were first commercialized in 1980s. Currently, the major players into manufacturing of neat LCP resins are: Polyplastics, Ticona, Toray, Solvay, Sumitomo and Ueno. Polyplastics is identified to be the largest producer with a manufacturing facility in Fuji, Japan. LCP resins manufacturing facilities are largely restricted to Japan, China and USA. The global demand is expected to grow at a CAGR of 5.0 - 5.2% in the next 5-6 years.

LCP Demand By Region

In 2022, Asia-Pacific was estimated to be the largest consumer accounting for over 75% of the global LCP demand. China accounted for the major demand with strong demand from its electrical & electronics industry. Other Asian countries including Taiwan, Japan, India, Singapore and South Korea account for a decent share of global demand.

Global LCP Demand Analysis, By Region - 2016-2032 (Kilo Tons)

Source: Secondary & Primary Research and Prismane Consulting estimates

LCP Demand by Application

The demand of Liquid Crystal Polymers (LCP) is driven by development of electrical & electronics infrastructure requirements. Miniaturization of electronic parts owing to the need of ultra-thin components and lead free soldering techniques are the major growth driving factor for LCPs in the electronics industry. Upsurge in LCP demand especially from Automotive Electrification, Internet of Things (IoT) and 5G are supporting the demand growth of Liquid Crystal Polymers. Global LCP manufacturers are expanding their manufacturing capabilities to cater the growing demand from Electrical & Electronics industry. Growing population, increasing disposable income, and per capita consumption of plastics are some of the key factors supporting the growth in demand of plastics in the electronics industry. Its high prices compared to other commodity plastics put it to some disadvantage. However, its outstanding properties outweigh this and the market for LCP is likely to expand over the years.

Global LCP Demand Analysis, By Application - 2022 (Kilo Tons)

Source: Secondary & Primary Research and Prismane Consulting estimates

LCP Capacity Expansion

In January 2021, Celanese Corporation announced a new greenfield LCP manufacturing facility to cater the fast growing LCP demand in China. The first phase of the project is anticipated to be completed by 2024 with installed capacity of 20 kilo tons/year.

Furthermore, Polyplastics Co., Ltd has also committed to construct a new Liquid Crystal Polymers (LCP) polymerization unit at its facility in Kaohsiung, Taiwan with production capacity of 5 kilo tons/year, making it an integrated LCP compounds manufacturing facility. The new capacity is expected to start commercial operations by H1-2024. The company also plans to double the polymerization capacity in the long term forecast, taking the overall capacity of Polyplastics Group to 25 kilo tons per annum.

Sumitomo Chemicals has announced capacity additions in Japan where the company plans to add 30% new capacity. The company has two LCP resin manufacturing facilities, one at Ehime Plant and the other one in Osaka. Operations are expected to start by Q3-2023 which would take the company’s global LCP polymer capacity to around 11,500 tons as per Prismane Consulting’s LCP resin capacity database.

Note: all images are for illustration purposes only

Scope of Report 

The Liquid Crystal Polymer (LCP) report describes the global Liquid Crystal Polymer (LCP) market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by, Application 
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Demand Balance 
•  Liquid Crystal Polymer (LCP) Market data in terms of volume and value for each end-use 
   at regional and country level
•  LCP Market analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1.  Introduction
      •  Scope
      •  Market Coverage
          -  Application
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2016 – 2021
          -  Base - 2022
          -  Forecast Period - 2023 – 2032
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2.  Market Synopsis 
      •  Market Evolution
      •  Demand Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3.  Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4.  End-use Sector Performance
      • Automotive
      • Electrical & Electronics
      • Industrial
      • Consumer Appliances
      • Medical
      • Others 
5.  Introduction to Liquid Crystal Polymers (LCP) and Market Overview 
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
6.  Market Dynamics and Industry Trends 
      •  Market Dynamics and COVID-19 Impact
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
7.  Global Liquid Crystal Polymers (LCP) Demand Analysis, By Application (Volume, Value) (2016–2032)
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016 – 2032)
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Liquid Crystal Polymers (LCP) Market, By Application
          - Automotive 
          - Electrical & Electronics 
          - Industrial
          - Consumer Appliances
          - Medical
          - Others
8.  Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2016– 2032)
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016-2032)
      •  Demand Growth Rate (%)
      •  Liquid Crystal Polymers Market, By Application
Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand(consumption) split by application has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  ASEAN
         -  Rest of Asia-Pacific
      •  Central & South America
      •  Middle East & Africa
Note: CAGR will be calculated for all the application to arrive at the regional/global demand growth for the forecast period (2023 – 2032)
9.  Pricing Analysis
10.  Key Strategic Issues and Business Opportunity Assessment 
      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study
11.  Strategic Recommendation & Suggestions
12.  Company Analysis and Market Share Analysis
      •  Liquid Crystal Polymers (LCP) Manufacturers Profiles/ Company Analysis
         -  Basic Details
         -  Headquarter, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Recent Developments
         -  Companies Covered
             - Celanese Corporation
             - Polyplastics
             - Toray Industries, Inc.
             - Sumitomo Chemical
             - Ueno Fine Chemicals
             - Solvay SA
             - Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
13.  Appendices
      •  Demand- Regions
      •  Demand– Countries

Scope of Report 

The Liquid Crystal Polymer (LCP) report describes the global Liquid Crystal Polymer (LCP) market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by, Application 
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Demand Balance 
•  Liquid Crystal Polymer (LCP) Market data in terms of volume and value for each end-use 
   at regional and country level
•  LCP Market analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment


Frequently Asked Questions

What is the current market size of Liquid Crystal Polymers (LCP)?
In 2022, the global LCP market size reached a valuation of USD 1.5 billion, with a growth projected at a CAGR of 6.4% to cross USD 3 billion by 2032. This strong growth can be attributed to the growing LCP demand from electrical & electronics, automotive and industrial applications.
What are the key drivers of the LCP market's demand growth?
The demand of Liquid Crystal Polymers (LCP) is driven by development of electrical & electronics infrastructure requirements. Miniaturization of electronic parts owing to the need of ultra-thin components and lead free soldering techniques are the major growth driving factor for LCPs in the electronics industry. Upsurge in LCP demand especially from Automotive Electrification, Internet of Things (IoT) and 5G are supporting the demand growth of Liquid Crystal Polymers
Which region is expected to dominate the global LCP market during the forecast period?
In 2022, Asia-Pacific was estimated to be the largest consumer, accounting for over 75% of the global LCP demand. China accounted for the major demand with strong demand from its electrical & electronics industry. The LCP market in Asia Pacific is estimated to continue its dominance in the forecast period on the back of strong electrical & electronics industry in the region
Who are the key players in the Global LCP market?
Currently, the major players into manufacturing of neat LCP resins are: Polyplastics, Ticona, Toray, Kingfa, Solvay, Sumitomo and Ueno. Polyplastics is identified to be the largest producer with installed capacity of around 15,000 tons as of 2022 closely followed by Sumitomo. In 2021,Celanese Corporation announced a new greenfield Liquid Crystal Polymers (LCP) manufacturing facility to cater the fast growing LCP demand in China. The first phase of the project is anticipated to be completed by 2024 with installed capacity of 20 kilo tons/year.