Liquid Crystal Polymer (LCP) Market Development Status and SWOT Analysis

CITY, Country, 2019-Jul-23 — /EPR Network/ —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.

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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.

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.

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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.

Ueno Fine Chemicals Industry Ltd., Kuraray Co. Ltd., Shanghai PRET Composites Co. Ltd., RTP Company, and Polyone Corporation are other key players accounting for a significant share in the liquid crystal polymer market.