Global Liquid Crystal Polymer (LCP) Market to Reach $1.44 Billion by 2023 - Rising Demand for Organic Polymers Drives Growth -

DUBLIN--()--The "Liquid Crystal Polymer Market by Type, by Industry, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to's offering.

Liquid crystal polymer (LCP) market is projected to reach $1,447.9 million by 2023, the market growth is driven by the increasing demand of LCPs in the manufacturing of consumer electronics products, medical equipment, and automotive components.

Based on type, the liquid crystal polymer market is bifurcated into thermotropic and lyotropic. Thermotropic LCPs accounted for a dominant share in the market during the historical period, accounting for more than 85% share in terms of value in 2017. Thermotropic LCPs are processed from anisotropic phases to form liquid-crystal phases.

This affects orientation and structure of these molecules. Furthermore, the end-polymer has fiber content that gives rise to high mechanical properties as a consequence of self-reinforcing properties derived from macromolecular orientation in the mesophase.

The above-mentioned properties of thermotropic LCPs make them ideal for manufacturing various components in electronic devices. The high demand for the LCPs in electrotropic displays such as LCDs, temperature sensors, and selective reflecting pigments will continue to aid the growth of the liquid crystal polymer market during the forecast period.

Based on industry, the liquid crystal polymer market is classified into semiconductor and electronics, automotive, medical, consumer goods, and others (power generation and heavy engineering). The demand for LCPs in semiconductor and electronics industry remained the highest during the historical period, accounting for more than 60% market share in terms of value in 2017.

The demand for LCPs in semiconductor and electronics industry is in coherence to the perquisite trend of trimming and downsizing of electrical components. Moreover, the application of LCPs in the industry is favored due to their properties such as low dielectric constants, low power dissipation factors, and significant strength of the materials in mesophase. Industrialization and surge in purchasing power of individuals are expected to generate demand for consumer appliances and electronic accessories, which in turn, is expected to boost the liquid crystal polymer market in the coming years.

Globally, APAC held the largest share in the market during the historical period. Presence of semiconductor manufacturing hubs in countries such as Taiwan, Japan, and China, along with rapidly advancing consumer electronics industry in countries such as India and Vietnam are the prime factors driving the demand for LCPs in the APAC region.

The investments made by major players in research and facility expansions are the major opportunity identified in the liquid crystal polymer market. In the recent years, major companies in the market like Celanese Corporation, Toray Industries Inc., Kuraray Co. Ltd., and Sumitomo Chemical Co. Ltd. have been expanding their facilities and investing in projects across various countries. For instance, Toray Industries Inc. invested $140.2 million in Sri City in Andhra Pradesh, India in 2018, for the manufacturing of textiles, which will boost the growth of LCP fiber and textile market. Hence, it can be said that there is increase in opportunities due to increase in investments and facility expansions.

Globally, the consolidated liquid crystal polymer market is characterized by market players having large scale operations. Celanese Corporation, Polyplastics Co. Ltd., Solvay SA, Sumitomo Chemical Co. Ltd., and Toray Industries Inc. are the leading players in the market. Among all the companies engaged in the production of LCPs, Polyplastics Co. Ltd. is a well-established player that commercially develops the product and is venturing into new markets in a bid to boost its business.

Most of the players in the global liquid crystal polymer market are multinational corporations and have presence in more than five countries. Owing to advanced technology needed for manufacturing LCPs, the number of companies remained less during the historical period. Moreover, majority of these companies are based in technologically advanced countries including Japan, the U.S., China, and Germany.

Key Topics Covered

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Type Thermotropic Lyotropic

4.1.2 By Industry Semiconductor and electronics Automotive Medical Consumer goods Others

4.2 Value Chain Analysis

4.3 Patent Analysis

4.4 Technology Dynamics Analysis

4.5 Regulations

4.6 Market Dynamics

4.6.1 Trends Technological advancements Improvements in MRI technology

4.6.2 Drivers Rising demand for consumer electronic devices Growth in the automobile sector Rising demand for organic polymers Growth in manufacturing industries Growing requirement of LCP in marine industry

4.6.3 Restraints High cost of injection molding Adoption of new technology and low level of awareness Impact analysis of restraints on market forecast

4.6.4 Opportunities Investments by major players Wide range of applications

Chapter 5. Pricing Analysis

5.1 Raw Materials Price Analysis

5.1.1 P-Hydroxybenzoic Acid

5.1.2 Bisphenol

5.1.3 Terephthalic Acid

5.1.4 Isophthalic Acid

5.1.5 6-Hydroxy-2-Naphthoic Acid

5.1.6 Glass Fiber

5.2 Raw Materials Sourcing - Geographical Hotspots

5.3 LCP Price Analysis, by Region

5.3.1 North America

5.3.2 Europe

5.3.3 APAC

5.3.4 LATAM

5.3.5 MEA

Chapter 6. Global Market Size and Forecast

6.1 By Type

6.2 By Industry

6.3 By Region

Chapter 7. North America Market Size and Forecast

Chapter 8. Europe Market Size and Forecast

Chapter 9. APAC Market Size and Forecast

Chapter 10. LATAM Market Size and Forecast

Chapter 11. MEA Market Size and Forecast

Chapter 12. Competitive Landscape

12.1 Market Share Analysis of Key Players

12.2 Competitive Benchmarking of Key Players

12.3 Global Strategic Developments of Key Players

Chapter 13. Company Profiles

  • RTP Company
  • PolyOne Corporation
  • Polyplastics Co. Ltd.
  • Shanghai PRET Composites Co. Ltd.
  • Solvay SA
  • Toray Industries Inc.
  • Sumitomo Chemical Co. Ltd.
  • Celanese Corporation
  • Kuraray Co. Ltd.
  • Ueno
  • Fine Chemicals Industry Ltd.

For more information about this report visit

Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900