Rockville, June 01, 2023 (GLOBE NEWSWIRE) -- The recent research analysis by Fact.MR on the global market global liquid crystal polymer provides a thorough overview of the industry’s product, end-user, and region categories. It also offers comprehensive details on important players and the crucial tactics they are turning to for gaining an upper hand over their competitors.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to Fact.MR, a market research and competitive intelligence provider, the global liquid crystal polymer (LCP) market is set to reach a valuation of US$ 1.4 billion in 2023 and is anticipated to grow at a CAGR of 5.1% during the forecast period of 2023-2033.
Liquid crystal polymers are widely used in electronic displays due to their superior thermal stability, high mechanical strength, and excellent electrical properties. With the increasing demand for high-resolution and energy-efficient displays, the liquid crystal polymer market is expected to grow significantly.
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Further, the demand for miniaturized electronic devices such as smartphones, wearables, and tablets is increasing rapidly. Liquid crystal polymers are ideal for use in these devices due to their excellent dimensional stability, high heat resistance, and low warpage. As the demand for miniaturized electronic devices continues to rise, the liquid crystal polymer market is expected to grow.
The liquid crystal polymer market is anticipated to project lucrative growth opportunities for the players operating in the market due to the thriving end-use industries which create a high demand for the market and offers space for the market players to exploit the market and gain high-profit margins by curbing the demand pool.
Key Takeaways from Market Study
- The global liquid crystal polymer market is expected to grow at 5.1% CAGR and reach US$ 2.3 billion by 2033
- The market witnessed a 3.8% CAGR between 2018 to 2022
- The U.S. is estimated to grow at a CAGR of 5.2% between 2023-2033
- North America is likely to represent over 1/4th of the liquid crystal polymer market share
- Europe liquid crystal polymer market is projected to grow at a CAGR of 5.0% in the forecast period
- China’s liquid crystal polymer market is set to grow at a CAGR of 5.6%
“Innovative Breakthroughs in Liquid Crystal Polymers to Redefine Material Properties & Applications Which Creates Immense Growth Opportunities for the Market Players” says a Fact.MR analyst.
Market Growth Strategies
The players are focusing on developing liquid crystal polymers with superior optical properties, high-resolution displays, and energy efficiency to meet the demand for advanced displays.
Also, the market titans are collaborating with automotive manufacturers to develop lightweight and high-performance liquid crystal polymer components to enhance fuel efficiency and reduce emissions.
The players are investing in research and development to develop innovative liquid crystal polymer materials for miniaturized electronic devices. Further, manufacturers are developing liquid crystal polymers with superior mechanical properties to meet the stringent requirements of aerospace and defense applications. Hence, the players in the liquid crystal polymers market are focusing on product innovation, collaborations, and partnerships to expand their market share and strengthen their position in the market.
For instance, in July 2022, Sumitomo Chemicals introduce a new long-fiber thermoplastic liquid crystal polymer. This material is currently undergoing customer evaluation in several industries and development quantities of two grades SUMICASUPER 379 and SUMICASUPER 420.
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Key Companies Profiled
- Celanese Corporation
- Polyplastics Co. Ltd.,
- Solvay S.A.
- Toray International
- Ueno Pharmaceuticals
- Sumitomo Chemicals
- Shanghai PRET Composite
- SHENZHEN WOTE ADVANCED MATERIALS
- Seyang Polymer
- Kingfa Sci & Tech
- RTP
Segmentation of Liquid Crystal Polymer Industry Research
- By Form :
- Resin & Compound
- Films
- Fibers
- By Application :
- Electrical & Electronics
- Connector
- Flexible Circuit
- Printed Circuit Boards
- Others
- Automotive
- Lamp Holders
- Connectors
- Electronic Components
- Ignition & Transmission Components
- Aerospace & Defense
- Industrial
- Measuring Instruments
- Medical
- Consumer Goods
- Electrical & Electronics
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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What differences can the liquid crystal polymer report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the liquid crystal polymer and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Attractiveness quotient of emerging product/technology types in various products in the liquid crystal polymer
- Micro-economics factors that may hamper the prospects of some of the key segments
- Recent spate of research and development (R&D) funding on key liquid crystal polymers
- New business models paving way for disruptions in demand dynamic of key segments
- Regional markets that will be future engine of growth and the industry trends that will support these markets
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the liquid crystal polymer market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of form (resin & compound, films, and fibers), application (electrical & electronics, automotive, aerospace & defense, industrial, and medical consumer goods), and across major regions of the world.
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