Dec 6, 2021   SOURCE: BusinessWire

Global Liquid Crystal Polymers Market (2021 to 2026) - Emerging Market for Thermoplastic Polymers Presents Opportunities - ResearchAndMarkets.com

The "Liquid Crystal Polymers Market with Covid-19 Impact Analysis by Application (Electrical & Electronics, Consumer Goods, Automotive, Lighting, Medical), and Region (APAC, North America, Europe, South America, Middle East & Africa) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The liquid crystal polymers market is projected to reach USD 1.8 billion by 2026, at a CAGR of 8.2% from USD 1.2 billion in 2021.

Emergence of new generation technologies such as 5G and 3D printing

Next generation technologies such as 5G and 3D printing are key drivers in growing demand for liquid crystal polymers. The demand for liquid crystal polymers is growing at a very rapid pace with a multitude of applications, ranging from electrical & electronics and automotive to consumer goods, sports, leisure, and medical devices.

Furthermore, increasing application of liquid crystal polymers films in flexible solar cells, owing to its exceptional heat resistance and low water absorbency are also underpinning gains for the market. Moreover, fast-growing technologies, such as 5G communication and 3D printing hold high stakes of growth for the liquid crystal polymers market. In the emerging 5G communication, liquid crystal polymers are being viewed on a large scale as a novel material with an optimistic outlook for mobile phone antennas.

Electrical & electronics to hold the largest share in liquid crystal polymers market between 2021 and 2026.

Electrical & electronics accounted for the largest size of the liquid crystal polymers market, in terms of value in 2020. The market size was estimated to be USD 1,152 million in 2020 and is projected to register a CAGR of 8.2% between 2021 and 2026, in terms of value. Medical application of liquid crystal polymers is projected to witness the highest CAGR of 9.6% between 2021 and 2026. The demand for liquid crystal polymers in medical application is increasing on account of the replacing traditional metals and plastic devices and equipment with high performance materials devices and equipment and the effect of COVID-19 on this segment is less comparatively.

South America is expected to be the fastest-growing liquid crystal polymers market during the forecast period, in terms of value.

In terms of value, South America is projected to witness the highest CAGR of 9.5% between 2021 and 2026; however, the largest market for liquid crystal polymers is APAC at a CAGR of 8.6% during the same period. The growth of the liquid crystal polymers market in APAC is due to rapid expansion of the electrical & electronics industry. The increasing domestic demand, coupled with affordable manufacturing facilities, is expected to continue driving the demand for liquid crystal polymers from various applications in APAC.

The increasing population and demands, accompanied with initiatives for new technologies and products are projected to make this region an ideal destination for the liquid crystal polymers market to grow. The growing electrical & electronics, automobile, and consumer goods industries are triggering the demand of liquid crystal polymers in the region.

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.

Market Dynamics

Drivers

  • Next-Generation Technologies Such as 5G and 3D Printing
  • Replacement of Conventional Materials by Liquid Crystal Polymers
  • Increasing Engineering Resin Substitutes for Ultra-Thin Components
  • Rising Demand for Lightweight and High-Performance Materials from the Automotive Industry

Restraints

  • High Manufacturing Costs of Liquid Crystal Polymers

Opportunities

  • Emerging Market for Thermoplastic Polymers
  • Growth Potential in Consumer Goods and Medical Applications

Challenges

  • Challenges in Processing Liquid Crystal Polymers

Companies Mentioned

  • Abtec Inc.
  • Ashland Inc.
  • Asia International Enterprises (Hk) Ltd.
  • Avient Corporation
  • Barlog Plastics Gmbh
  • Celanese Corporation
  • Chang Chun Plastics Co. Ltd
  • Daikin Industries Ltd.
  • Evonik Industries
  • Kuraray Co. Ltd
  • Lotte Fine Chemicals Co. Ltd
  • Mitsui Chemicals
  • Nanjing Qingyan Polymer New Materials Ltd.
  • Polyclean Technologies, Inc.
  • Polyplastics Co. Ltd (Diacel Corporation)
  • RTP Company
  • Sabic Innovative Plastics Ltd.
  • Shanghai Pret Composites Co. Ltd.
  • Shenzhen Wote Advanced Materials Co. Ltd
  • Solvay S.A.
  • Sumitomo Chemical Co. Ltd
  • Toray Industries, Inc.
  • Ueno Fine Chemicals Industry Ltd.
  • Victrex
  • Zeus Industrial Products, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/h691qu