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.
Liquid crystal polymers an exceptional combination of high temperature resistance, high stiffness, and high flow makes them particularly well suited to the growing trend of miniaturization in the electrical & electronics industry and the increasing acceptance in microinjection molding. Applications such as connectors with high pin density have been driving the notable growth in liquid crystal polymers consumption. Several factors directly or indirectly affect the liquid crystal polymers market such as high temperature resistance and excellent mechanical strength, chemical resistance, and high dimensional stability, growth of the electrical & electronics industry, increasing engineering resin substitutes for ultra-thin components, increasing demand for lightweight, high-performance materials from the automotive industry, growth potential in consumer goods and medical application, high manufacturing costs.
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The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally. The major players in the Liquid crystal polymers market are and Polyplastics Co., Ltd (Japan), Celanese Corporation (U.S.), Solvay S.A. (Belgium), Toray Industries, Inc. (Japan), and Sumitomo Chemicals Co. Ltd. (Japan).
Players in the liquid crystal polymers market are mainly concentrating on new product launches, acquisition, and collaboration to meet the growing demand for various end-use industries. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the liquid crystal polymers market has been largely influenced by new product launches that were undertaken between 2016 and 2020. Companies such as Polyplastics Co. Ltd., Celanese Corporation have adopted new product launches to enhance their market position.
Polyplastics Co., Ltd. (Diacel Corporation) is a manufacturer of engineering plastics and polymers. The products offered are liquid crystal polymers, polyacetal, polybutylene terephthalate, polyphenylene sulphide and cyclic olefin copolymers. It caters mostly to electronic and automobile industries. The other application markets include precision machinery, household appliances, construction materials, and other related industries. The company is present in the U.S., Mexico, Germany, South Korea, Indonesia, Singapore, India, and China, among others with 6 R&D centers, 7 production facilities and 19 sales offices.
Celanese Corporation is a specialty materials company that manufactures a wide variety of products essential in everyday living. The company operates through three business segments, namely acetate tow, engineered materials, and acetyl chain. The company offers liquid crystal polymer products through its engineered materials business segment. From the global production network of acetyl chain segment, the company provides materials that are critical to the global chemicals and paints and coatings industries. From the broad portfolio of engineered materials solutions, the company offers automotive and consumer electronic designs and enable life-improving medical, food and beverage products. Celanese offers liquid crystal polymer under brand names Vectra and Zenite used in several applications such as electrical & electronics, automotive, home appliances. Celanese operates with 25 production plants and six research centers in across 11 countries, mainly in North America, Europe, and Asia.
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
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