Global liquid crystal polymer (LCP) market worth $1.23 Billion by 2020

Global Liquid Crystal Polymer (LCP) Market is forecasted to reach USD 1.23 billion by 2020, as per a new research report by Radiant Insights, Inc. Growing trend towards developing militarized components and connectors are likely to drive the demand over the forecast period. Developing lightweight materials for automobile components to increase fuel efficiency and reduce carbon emissions are likely to assist LCP market growth. Factors such as warpage and low weld strength may challenge industry participants.

Electronics & electrical dominated the LCP applications and accounted 81.5% of the total demand in 2013. LCPs are used for developing components of 0.1mm and are preferred over different engineering resins that include nylon 46, PPA and PPS. Industrial machinery was the second largest application with estimated growth of 6.4% throughout the forecast period. Increasing machinery demand owing to rapid industrialization in South Korea, China, India and other countries, coupled with ceramic materials replacement and mass transfer packaging applications is likely to drive demand.

The report "Liquid Crystal Polymer (LCP) Market Size, 2020" is available now to Radiant Insights customers and can also be purchased directly at http://www.radiantinsights.com/research/liquid-crystal-polymer-lcp-market 

Further key findings from the study suggest:

• In 2013, the global LCP market was estimated at 46.1 kilo tons with a demand forecast of 81.7 kilo tons by 2020, gaining at 8.6% over the next six years.

• China dominated the regional market with an estimated market share of 46.1% in 2013. A number of electrical manufacturing companies coupled with growing consumer electronics market should drive growth in China.
 
• Other Asian countries that include India, South Korea, Japan, Thailand and Indonesia are likely to witness high growth rates over the next six years.

• Shift of automobile manufacturing bases in these countries owing to government subsidies and low labor cost is likely to drive regional demand. North America is witness gains at 7.3% from 2014 to 2020.

• Automotive applications are anticipated to grow at 7.3% up to 2020. Stringent environmental regulations in U.S. and Europe regarding carbon emissions are likely to drive market growth.

• Highly consolidated LCP market share consists of top four manufacturers accounting for over 75% of the market share. Key manufacturing companies include Sumitomo Chemical, Polyplastics, Solvay and Celanese Corporation. Other prominent companies include Ueno Fine Chemicals, Samsung and Toray International.

For the purpose of this study, Radiant Insights has segmented the LCP market on the basis of application and region:

Global LCP Application Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Electrical and Electronics
• Industrial Machinery
• Automotive
• Others

Global LCP Regional Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• China
• Rest of Asia Pacific