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NEW YORK , May 2, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Liquid Crystal Polymer Market Share, Size, Trends, Industry Analysis Report, By Type (Thermotropic, Lyotropic), By Application (Electrical and Electronics, Industrial Machinery, Consumer goods, Lighting, Medical, Others); By Region; Segment Forecast, 2022 - 2030" in its research database.
According to recent research study published by Polaris Market Research, the global liquid crystal polymer market size and share is expected to register a CAGR of 8.0% growth and industry revenue is expected to increase from USD 1.25 Billion in 2021 to reach USD 2.43 Billion by 2030.
What is Liquid Crystal Polymers? How Big is Liquid Crystal Polymer Market Share?
Liquid crystal polymers (LCPs) are the class of polymers that contains properties such as highly ordered solid crystallinity. They have inherent flame retardancy, flexibility, and weatherability. They act well in harsh environments as they have the ability to tolerate excessive heat conditions as well as resist strong chemicals. These properties enhance the utilization of LCPs in the miniaturization of elements in telecommunications, information technology, and diagnostic instruments.
LCPs are also used in electrical and mechanical parts, food containers, and several other applications. Due to their superior properties such as low relative dielectric constants, and low dissipation factors, they can be utilized in automotive ignition system components and heaters. These applications have been driving the notable growth in liquid crystal polymers consumption. The expanding automobile and transport industries are both anticipated to boost the growth of the global economy during the projected time frame.
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Key Highlights of The Report:
Top Market Players in Liquid Crystal Polymer Market Are:
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Liquid Crystal Polymer Market: Driving Factors
The rapidly growing demand for liquid crystal polymers with different applications such as electrical & electronics and automotive to consumer goods, sports, leisure, and medical devices are driving the growth of the market. LCPs are widely used in the automotive industry as they possess properties like high strength, low weight, and abrasion resistance properties. Due to these factors, the demand for LCPs is increasing in the automotive industry, thereby fueling the market growth over the forecast period. Also, the rise in demand for engineering resins to produce ultra-thin electrical components is another key factor expected to positively favor the liquid-crystal polymers market. Further, developments in technologies such as 5G communication and 3D printing are also accelerating market growth. Moreover, growing investment to develop products for niche applications is expected to create lucrative opportunities for industry participants.
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Liquid Crystal Polymer Market: Report Scope
Asia International Enterprise (HK) Limited, Celanese Corporation, Kuraray Co. Ltd, PolyOne Corporation, Polyplastics Co. Ltd., Rogers Corporation, RTP Company, Shanghai Pret Composites Co., Ltd., Solvay SA, Sumitomo Chemicals Co. Ltd., Toray Industries, Inc., and Ueno Fine Chemicals Industry Limited.
By Type, By Application, By Region
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Liquid Crystal Polymer Market: Report Segmentation
Based on application, the electrical and electronics segment accounted for the largest market share in the global liquid crystal polymer industry in 2021. This growth can be attributed to the increasing demand for CP from the growing electrical & electronics industry worldwide. The growing demand for miniaturization from the electronics industry is anticipated to boost the application segment growth in the market. In addition, rising demand for micro injection molding along with high-temperature resistance & flow properties are other key factors expected to boost the growth of electronics and electrical applications. The overall growth of the electrical & electronics industry across the globe is further projected to create lucrative growth opportunities for the segment. Moreover, the medical segment of the market is expected to generate a progressive CAGR in the industry due to the increasing utilization of LCPs across the medical sector.
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Geographic Overview: Liquid Crystal Polymer Market
Based on geography, Asia Pacific witnessed the largest market share in the global liquid crystal polymer industry in 2021 and is anticipated to continue its dominance during the forecasted period. This progress can be attributed to the increasing demand from end-user industries across the developing countries including India , China , and Japan , among others. Also, growing investments in R&D and a surge in the number of new manufacturing capabilities are expected to drive the global liquid crystal polymers market growth in the region. China is one of the largest producers of electronics globally.
Moreover, North America is anticipated to show progressive growth over the projected years owing to the growing activities toward new products and technologies. The adoption of innovative technologies such as 5G and 3D printing is expected to create tremendous growth opportunities in the liquid crystal polymer market.
Browse the Detail Report "Liquid Crystal Polymer Market Share, Size, Trends, Industry Analysis Report, By Type (Thermotropic, Lyotropic), By Application (Electrical and Electronics, Industrial Machinery, Consumer goods, Lighting, Medical, Others); By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/liquid-crystal-polymer-market
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Key Questions Answered By The Report
·What are the top strategies that players are expected to adopt in the coming years?
Polaris Market Research has segmented the liquid crystal polymer market report on the basis of type, application, and region:
Liquid Crystal Polymer Market: By Type Outlook
Liquid Crystal Polymer Market: By Application Outlook
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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