Demand For Liquid Crystal Polymer Fibers Are Anticipated To Register A Steady CAGR Of 5% By 2031,Owing To The Growth Of The Electrical & Electronics Industry

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Analysis of the market of liquid crystal polymers by shape (LCP resins and compounds, liquid crystal polymer films, liquid crystal polymer fibers), by applications – the global forecast for 2021-2031.

ROCKVILLE, Maryland, February 23, 2022 (GLOBE NEWSWIRE) – According to a recent Fact.MR report, the global liquid crystal polymer (HCP) market is expected to reach $ 2 billion by 2031, expanding with a stable CAGR 5 % during the evaluation period from 2021 to 2031.

The demand for liquid crystal polymer films and fibers It is expected to aggregate at CAGR levels of 7.5% over the next ten years.

The growing penetration of the miniaturization trend in the electronics and electrical industry has attracted the attention of stakeholders who are looking forward to expanding the use of their products. As the automotive industry continues to embrace the trend of light vehicles, in line with the growing demand for more productive engines and efficient fuel consumption, LCPs are a viable replacement for heavy metal components.

In the thriving automotive industry LCP is primarily observed for traction for use in fuel contact components and battery components. Moreover, the favorable properties of liquid crystalline polymers, namely high chemical resistance, thermal resistance and good mechanical strength, along with the advantages of light weight, still make them the material of choice for a wide range of applications.

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High-performance, low-volume polymer thermoplastics (Hptps) continue to provide significant traction

The application of liquid crystal polymers in the electrical and electronics industries, particularly in the automotive sector, as well as potential profitability in medical applications are likely to grow in the coming years.

Although high-performance, low-volume, high-performance polymer thermoplastics (HPTPs) continue to gain significant traction for use in specialized applications that require a combination of extraordinary properties, their adoption is likely to remain in the near future. Moreover, liquid crystal polymers are also attracting attention as a potential replacement for metal parts as the industry shifts its focus to different forms of plastics as lightweight materials for different applications.

Demand for liquid crystal polymers in the electrical and electronics industries is also expected to grow in the coming years.

What are the main countries stimulating demand Liquid crystalline polymer?

The Asia-Pacific region dominates the liquid polymer market in terms of volume as well as price, and China leads the market through its extensive electrical and electronics industries. The Asia-Pacific region is expected to become the fastest growing market over the forecast period due to increased investment in R&D.

It is projected that North America and Europe will witness significant growth during the analysis period. The use of lightweight, high-performance materials in the automotive industry in North America and Europe is expected to stimulate market expansion.

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The main segments covered by the study of liquid crystalline polymers

Outstanding players in Liquid crystalline polymer The market

  • Celanese Corporation,

  • Polyplastics Co Ltd.

  • Sumitomo Chemical Co., Ltd.

  • Toray Industries Inc.

  • Solvay SA

  • Ueno Fine Chemicals Industry, Ltd.

  • Shanghai PRET Composites Co.

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Key takeaway out Liquid crystalline polymer Market research

  • The LCP market is expected to increase at a CAGR level of 5% during the analysis period from 2021 to 2031.

  • The combined market for liquid crystal polymer films and fibers will expand with a CAGR of 7.5% over the next ten years.

  • Demand for liquid polymers from the electronics and electrical industries will remain high.

  • The market in China accounts for about 70% of total revenue share in the Asia-Pacific region.

  • The global LCP market is expected to exceed $ 2 billion by the end of 2031.

  • Demand for liquid crystal polymer resins remains high in the electronics and electrical industries.

“Increasing the use of liquid crystal polymers in the automotive and electronics industries to stimulate market growth in the coming years,” said an analyst at Fact.MR.

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