The report "Liquid Crystal Polymer Market by Application (Electrical & Electronics, Consumer Goods, Lightning, Automotive, Medical & Others) and by Brands (Laperos LCP, Vectra/Zenite, Sumikasuper, Xydar, Siveras & Others) - Global Forecasts to 2020", published by MarketsandMarkets, The LCPs Market size by value is projected to reach USD 1.2 Billion by 2020, with a CAGR of 6.0% between 2015 and 2020.
The market report defines and segments the Liquid Crystal Polymers Market with an analysis and forecast for applications and regions by volume as well as value.
"Asia-Pacific is the key market for liquid crystal polymer"
Asia-Pacific dominated the LCPs market in 2014. China is the key market for LCPs and accounted for more than 45% of the global LCPs market. The growing demand for LCPs in various end-user industries such as electrical & electronics, consumer goods, and automotive is driving the market for LCPs in the region. Furthermore, the automotive and medical industry in North America and Europe drives the market for LCPs. Medical segment is expected to witness highest growth during the projected period.
Asia-Pacific is the fastest-growing market for LCPs during the projected period. The ensuing increase in investments and rise in the number of new manufacturing establishments is anticipated to witness Asia-Pacific emerge into a prime driver of growth for the LCPs market. Furthermore, the electrical & electronics segment is expected to witness high growth during the forecast period. This is due to the growing engineering resins demand for manufacturing ultra-thin electrical components in the region. Moreover, the rising demand from other industries such as consumer goods, automotive, lighting, and medical activities drive the market for LCPs in the Asia-Pacific region.
"Electrical & electronics application to dominate the global liquid crystal polymer market"
Electrical & electronics segment dominated the liquid crystal polymer market with 69.20% the global market share in 2014, in terms of volume. The growth is attributed to the expansion of electrical & electronics industry in the region. LCPs is utilized in a wide array of end-user industries focused on electronic components such as personal computers and mobile telephones, and the corresponding market has been witnessing rapid and continued growth. LCPs has come to be a requisite high performance material that has already well-known its position in the market as the finest choice for use in ultra-compact electronic parts, devices, and equipment. Automotive is the other key application area of LCPs and accounted for 8.20% in 2014, in term of volume. The growth in the automotive sector is attributed to adoption of lightweight, high performance materials from automotive industry worldwide.
"By Brand, LAPEROS LCP by Polyplastics dominate the global liquid crystal polymer market"
LCPs have the largest market share in the Asia-Pacific region with many Japanese players and their brands like LAPEROS LCP, SUMIKASUPER LCP, and SIVERAS LCP dominating the market. The market also has players from the U.S and the European region which cater to the respective markets through brands such as Vectra/Zenite LCP and XYDAR LCP. The LCPs market has been segmented by major brands of the top players, namely, LAPEROS LCP (Polyplastics), Vectra/Zenite LCP (Celanese), SUMIKASUPER LCP (Sumitomo Chemical), XYDAR LCP (Solvay), and SIVERAS LCP Resin (Toray).
