Wellesley, Mass, April 03, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research reveals that Asia-Pacific is expected to drive major growth in the global market for liquid crystal polymers. The region's key drivers are increased consumer electronics usage, high demand for LCPs in the auto/electronics and semiconductor sectors, and the availability of low-cost raw materials.
BCC Research's Global Markets for Liquid Crystal Polymers reports that the outlook for the LCP market is projected to be uneven in terms of acceptance in different regions, growth of different applications, environmental regulations and raw material availability. In 2021, the global market is expected to reach $1.5 billion, up from $1.2 billion in 2016.
Research Highlights
- In Europe, applications of LCPs have stagnated in the semiconductor/electronics industries due to the absence of end-users that could drive future growth.
- In terms of volume, the global LCPs market and is expected to increase to 116.0 kilotons by 2021, up from 84.6 kilotons in 2015.
- Rising demand for carbon reinforced LCPs in the industrial sector have boosted demand.
"Key stakeholders in the value chain are taking great interest in LCPs due to factors such as the growing demand for LCPs in the semiconductor, electronics and other industries, an increase in R&D to develop new varieties of LCPs, and a focus on Asian producers that can achieve low-cost product innovations," says Kevin Fitzgerald, BCC Research editorial director.
Uneven Outlook Projected for LCP Markets
To date, LCP production is located in specific countries while the LCP market in other countries is import driven and will depend on the import/export policies of various governments.
"For example, due to the high price and restricted availability of LCPs, their acceptance among some countries in the Asia-Pacific region is low," notes Fitzgerald. "These factors will continue to impact the outlook of both the Asia Pacific and global LCP market. But overall, the LCP market is estimated to have significant potential, and is expected to experience stable growth through 2021."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.