The liquid crystal polymer (LCP) market is expected to witness significant growth during the forecast period (2017-2023) owing to the increasing demand for miniaturized electronic components such as connectors and surface mount devices. Device or product miniaturization allows manufacturers for streamlining devices to incorporate more and more features in to smaller packages.
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In the recent years, the liquid crystal polymer market witnessed an increasing shift towards miniaturization of electronic and electrical components such as SMT connectors with high density of pin, surface mounting devices and other microelectronic devices.
Rising demand for high performance and lightweight materials from the automobile industry to improve the fuel efficiency and reduce carbon emissions is expected to drive the global liquid crystal polymer market during the forecast period. Moreover, the increasing shift towards the micro injection molding is expected to further spur the growth of the global liquid crystal polymer market.
Liquid crystal polymer possesses properties such as high heat tolerance, chemical resistance, dimensional stability, flatness and high stiffness that makes them ideal for use in various applications including smartphones, laptop, desktop, and tablets.
The high cost coupled with their low bonding strength are the major factors hampering the growth of the liquid crystal polymer market during the forecast period.
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The major companies operating in the global liquid crystal polymer market are Celanese Corporation, Polyplastics Co., Ltd., Toray International, Inc., Solvay SA, Ueno Fine Chemicals Industry, Ltd., Shanghai Pret Composites Co., Ltd., PolyOne Corporation, Sumitomo Chemical Company Limited.
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