Liquid Crystal Polymers Global Market Report 2024

The liquid crystal polymers market has grown strongly in recent years. It will grow from $1.75 billion in 2023 to $1.89 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historical period can be attributed to factors such as the expansion of data centers, the emphasis on energy efficiency, the need for cost-effective scaling, requirements for web hosting, low power consumption, and the demand for parallel processing capabilities.

The liquid crystal polymers market is expected to see strong growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to the development of smart cities, the rise of autonomous vehicles, growth in telemedicine, evolving security requirements, and concerns related to security and hardware-based solutions. Major trends expected in the forecast period include the adoption of artificial intelligence (AI) and machine learning workloads, the development of customized and application-specific solutions, participation in the Open Compute Project (OCP), the use of heterogeneous computing architectures, and the integration of blockchain technology.

The liquid crystal polymer market is being propelled by advancements in the development of lightweight materials for automobile components. These lightweight automotive components, designed to be lighter than traditional ones, are in high demand for their added benefits. Liquid crystal polymers play a crucial role in producing lightweight automotive components used in both electric and combustion vehicles. According to the US Office of Energy Efficiency and Renewable Energy, a 10% reduction in automobile weight can enhance fuel efficiency by 6%-8%, potentially saving about 5 billion gallons of fuel annually by 2030 if lightweight materials are employed in a quarter of the U.S. fleet. Consequently, the increasing demand for lightweight automotive components is a significant factor driving the growth of the liquid crystal polymer market.

The liquid crystal polymer market is also experiencing growth due to the expanding aerospace industry. This sector, encompassing the development, production, and maintenance of aerospace systems and defence equipment, relies on liquid crystal polymers for their lightweight and high-performance characteristics. These properties make LCP an ideal material for various aerospace applications, including aircraft components, connectors, and electronic systems. The Airspace Industries Association (AIA) reported that the aerospace and defence industry generated $892 billion in combined sales in 2021, indicating a 2.1% increase over the previous year. This surge in the aerospace industry is a driving force behind the growth of the liquid crystal polymer market.

A notable trend in the liquid crystal polymer market is the introduction of innovative products, exemplified by Sumitomo Chemical Advanced Technologies' launch of the SUMIKASUPER long-fiber thermoplastic (LFT) compound family in July 2022. This product features high-performance liquid crystal polymer (LCP) matrices reinforced with chopped carbon fiber or fiberglass, providing exceptional structural stability. With a fiber-weight fraction of 30-50% E-glass and high-modulus carbon fiber, this product significantly improves the thermal and mechanical performance of materials, contributing to market sustainability.

Major players in the liquid crystal polymer market are introducing groundbreaking products such as the NEX 01 Liquid Crystal Polymer (LCP) 3D printer by NematX. Launched in November 2022, this 3D printer boasts micron-resolution capabilities, enabling high-throughput production with precise process control. This innovation addresses the demand for accurate and efficient 3D printing within the liquid crystal polymer market.

In April 2023, Doosan Corp., a South Korea-based power, desalination, engines, and services provider, entered into a joint development agreement with Ionic Materials. This partnership aims to explore the potential applications of liquid crystal polymers (LCP) in advanced functional materials. Doosan aims to complete the development of LCP film-applied FCCL by the end of the year, with a strategic focus on capturing market opportunities in next-generation mobile devices and materials for 5G and 6G communications.

Major companies operating in the liquid crystal polymers market report are Celanese Corporation, Sumitomo Chemical Co. Ltd., Toray Industries Inc., Solvay S.A., Ueno Fine Chemicals Industry Ltd., Shanghai PRET Composites Co. Ltd., Rogers Corporation, RTP Company Inc., Kuraray Co. Ltd., Zeus Company Inc., Chang Chun Group, Henan DaKen Chemical Co. Ltd., Avient Corporation, DuPont de Nemours Inc., Polyplastics Co. Ltd., ENEOS LC Co.Ltd., Daicel Corporation, Kingfa Sci.&Tech. Co.Ltd., Ningbo Jujia New Material Technology Co. Ltd., Samsung Chemicals Co.Ltd., Shanghai Kumho Sunny Plastics Co.Ltd., Saudi Basic Industries Corporation, PolyOne Corporation, Mitsubishi Chemical Corporation, LG Chem Ltd., Covestro AG, BASF SE, Arkema S.A., Asahi Kasei Corporation, DSM Engineering Plastics, Evonik Industries AG, Eastman Chemical Company.

Asia-Pacific was the largest region in the liquid crystal polymer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global liquid crystal polymers market during the forecast period. The regions covered in the liquid crystal polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the liquid crystal polymers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of liquid crystal polymers include lyotropic LC (Liquid Crystal) polymers and thermotropic LC polymers. Lyotropic LC polymers exhibit liquid crystalline behavior in solution and are utilized in applications such as drug delivery systems, templating materials, and sensors. Within lyotropic LC polymers, there are major categories such as main chain LC polymers and side chain LC polymers. Liquid crystal polymers are available in various forms, including LCP resins and compounds, liquid crystal polymer films, and liquid crystal polymer fibers. These materials are applied in diverse industries such as electrical and electronics, industrial machinery, consumer goods, lighting, medical, and others.

The liquid crystal polymers market research report provides liquid crystal polymers market statistics, including liquid crystal polymers industry global market size, regional shares, competitors with a liquid crystal polymers market share, detailed liquid crystal polymers market segments, market trends and opportunities, and any further data you may need to thrive in the liquid crystal polymers industry. This liquid crystal polymers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The liquid crystal polymer market consists of sales of semi-aromatic polyesters, polyamides, and polyester-co-amides. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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