Description

According to the Market Statsville Group (MSG), the global liquid crystal polymer films and laminates market size is expected to grow from USD 1,53.6 million in 2021 to USD 2,77.6 million by 2030, at a CAGR of 6.8% from 2022 to 2030.

Liquid crystal polymer molecules can be mutually aligned and structured (crystal); however, in the molten state, the bulk liquid crystal polymer can flow (liquid). The characteristics of liquid crystal polymer films and laminates differ from that of other types of polymers. Low-cost dielectric materials, liquid crystal polymer films, and laminates are suited for high-density system-on-package integration. Liquid crystal polymer films and laminates provide benefits such as reduced moisture absorption, a low coefficient of hygroscopic expansion, a smooth surface, high barrier qualities, and an adjustable coefficient of thermal expansion via thermal treatment methods. Liquid crystal polymer films and laminates are used in various applications, including electrical gadgets, consumer products, automotive, engineering plastics, etc.

Global Liquid Crystal Polymer Films and Laminates Market Definition

The growing preference for lightweight and environmentally friendly materials fuels the expansion of the liquid crystal polymer (LCP) films and laminates industry. Demand for lightweight and viable materials in various end-use sectors will drive the growth of the liquid crystal polymer (LCP) films and laminates market during the forecast period. Furthermore, the increased prevalence of a wide pool of competitors is expected to dampen the growth of liquid crystal polymer (LCP) films and laminates. Furthermore, the development in the trend of green construction has resulted in a wide application, which is expected to drive expansion in the liquid crystal polymer (LCP) films and laminates market.

COVID-19 Impact on the Global Liquid Crystal Polymer Films and Laminates Market

The COVID pandemic impacted automakers all over the world. In 2021, the majority of businesses saw negative growth and recorded losses. As a result, LCP-based radars, sensors, and other components, as well as the demand for LCP film and laminates, had negative growth throughout this period. However, the industry is expected to continue growing in 2022.

Global Liquid Crystal Polymer Films and Laminates Market Dynamics

Drivers: high demand in the electrical & electronics industry

Because of the increased demand in the electrical and electronics industries, the demand for liquid crystal polymer films and laminates has been expanding. The rise in demand for electrical devices such as mobile phones, laptop computers, and televisions, as well as motors, stators, sockets, and PCBs, is driving the need for liquid crystal polymer films and laminates. The automotive industry's expansion is also expected to fuel the liquid crystal polymer films and laminates market. Consumer desire for high-end automobiles is driving growth in the automotive industry.

Restraints: Liquid crystal polymer films and laminates are costly

The high cost of liquid crystal polymer films and laminates hinders the market growth. Liquid crystal polymer films and laminates are more expensive than standard polymer films and laminates. Low-weld qualities of liquid crystal polymer films and laminates are also expected to limit market growth in the near future. Metal adhesion difficulty during laminate creation is a key problem for participants in the global liquid crystal polymer films and laminates market.

Opportunities: Expanding the Application Scope to Provide More Attractive Opportunities

The widespread use of liquid crystal polymer films and laminates is projected to provide profitable business prospects in the near future. Demand for smart windows in residential and commercial buildings to manage light, sound, privacy, and insulation is predicted to expand the market for liquid crystal polymer films and laminates. Liquid crystal polymers and laminates are used only in a few applications.

Warpage and low-weld features will create additional potential prospects for expanding the liquid crystal polymer (LCP) films and laminates industry in the coming years.

Scope of the Global Liquid Crystal Polymer Films and Laminates Market

The study categorizes the liquid crystal polymer films and laminates market based on type and application at the regional and global levels.

By Type Outlook (Sales, USD Million, 2017-2030)

• Liquid Crystal Polymer Films
• Liquid Crystal Polymer Laminates

By Application Outlook (Sales, USD Million, 2017-2030)

• Electrical & Electronics
• Automotive & Transportation
• Medical Devices
• Packaging
• Others

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

LCP films segment  accounts for the highest CAGR during the forecast period by product

Based on the product, the liquid crystal polymer films and laminates market is divided into liquid crystal polymer films and liquid crystal polymer laminates. During the forecast period, the LCP films segment of the liquid crystal polymer films and laminates market is expected to grow at the fastest CAGR due to intrinsic features such as low coefficient of thermal expansion (CTE), and minimal moisture absorption, high tensile strength, and abrasion resistance. These features lead to improved performance of these films, making them appropriate for a wide range of applications in the aforementioned end-use industries.

Asia Pacific accounts for the largest market share by Region

Based on the regions, the global liquid crystal polymer films and laminates market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific had the highest revenue share in 2021. Urbanization and growing industrialization in nations such as China, India, Vietnam, Thailand, Singapore, and Taiwan will fuel growth in the Asia Pacific region. China is one of the world's top smartphone users and manufacturers, thus, it has a considerable market share in this area. Transitioning lifestyles and shifting tastes for advanced telecommunications and IT infrastructure are expected to drive demand for LCP films and laminates.

Key Market Players in the Global Liquid Crystal Polymer Films and Laminates Market

The global liquid crystal polymer films and laminates market is highly competitive, with key industry players adopting strategies such as partnerships, acquisitions, product development, agreements, and expansion to strengthen their market positions. Most companies in the market are indulged in expanding business across regions, enhancing their capabilities, and molding strong partner relations.

Major players in the global liquid crystal polymer films and laminates market are:

• Kuraray Co Ltd
• Celanese Corporation
• Rogers Corporation
• Polyplastics Co Ltd
• Toray Industries Inc.
• PolyOne Corporation
• RTP Company
• KGK Chemical Corporation
• Zeus Industrial Products, Inc.
• Sumitomo Chemical Co Ltd

Key Issues Addressed

• What is the market size by various segmentation of the liquid crystal polymer films and laminates by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the liquid crystal polymer films and laminates market?
• What are the key opportunities and trends for manufacturers involved in the liquid crystal polymer films and laminates supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of liquid crystal polymer films and laminates in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.