Liquid Crystal Polymer (LCP) Films and Laminates Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The liquid crystal polymer (LCP) films and laminates market is segmented by type (LCP films and LCP laminates), application (automotive, electronics, medical devices, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report offers market size and forecasts in volume (metric tons) for all the above segments.

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Liquid Crystal Polymer (LCP) Films & Laminates Market Size

Liquid Crystal Polymer Films And Laminates Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: > 5 %

Major Players

Liquid Crystal Polymer Films And Laminates Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Liquid Crystal Polymer (LCP) Films & Laminates Market Analysis

The liquid crystal polymer (LCP) films and laminates market is expected to register a CAGR of more than 5% during the forecast period.

The COVID-19 pandemic affected automotive companies across the world. The majority of companies witnessed negative growth and registered losses in 2021. Due to this, radars, sensors, and other components made using LCP and the demand for LCP films and laminates witnessed negative growth during this period. However, the market retained its growth trajectory in 2022.

  • Over the next five to ten years, the main thing that will drive the market that was looked at is the growing demand for making electrical and electronic parts smaller.
  • On the flip side, the high manufacturing and processing costs of liquid crystal polymer films and laminates are hindering the growth of the market.
  • The production technique innovations and ongoing R&D activities provide an opportunity for the market to grow in the future.
  • The Asia-Pacific region is the biggest market, and it is also expected to grow the fastest over the next few years. This is because countries like China, South Korea, India, and Japan are big consumers.

Liquid Crystal Polymer (LCP) Films & Laminates Industry Segmentation

Liquid crystal polymer (LCP) is an engineering plastic with a combination of high strength, modulus, and impact properties; flame retardance; resistance to a wide range of aggressive chemicals; very low and tailorable coefficients of thermal expansion (CTE); excellent dimensional stability; thin-wall flowability; and unique processability. The liquid crystal polymer (LCP) films and laminates market is segmented by type, application, and geography. By type, the market is segmented into LCP films and LCP laminates. By application, the market is segmented into automotive, electronics, medical devices, and other applications (aerospace, industrial machinery). The report also covers the market size and forecasts for the liquid crystal polymer (LCP) films and laminates market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (metric ton).

Type
LCP Films
LCP Laminates
Application
Automotive
Electronics
Medical Devices
Other Applications (Aerospace, Industrial Machinery)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Liquid Crystal Polymer (LCP) Films & Laminates Market Trends

Growing Demand from Electronics Industry

  • LCP films and laminates have widened the application scope across the electronics industry. LCP films offer excellent electrical and mechanical properties, such as a low dielectric constant, high moisture barriers, a controllable thermal coefficient of expansion, high-frequency properties, and non-halogen flame-retardant characteristics.
  • The spread of telework and stay-at-home demand drove up electronic equipment. Solution services grew as more investments in digitalization promoted more sophisticated data use. Thus, it is expected to increase the demand for LCP films and laminates used in the electronics segment.
  • According to JEITA (the Japan Electronics and Information Technology Industries Association), in November 2022, the total production of the electronics industry reached USD 7,098.34 million. Japan exported a total of USD 8,395.45 million in electronics in December 2022.
  • LCP has great electrical properties, like a low dielectric constant, which is why it is used a lot in the displays of cell phones, laptops, and other electronics. According to the Broadband TV News LLP, in 2022, 202 million TVs were shipped all over the world.In 2021, around 1.45 million TV sets were sold in Germany.
  • Liquid crystal polymer films are used in the auto industry as a thin laminate to make the car safer and more private.According to OICA, in 2021, global vehicle production reached 80.1 million units, an increase of 4% from the previous year’s production of 77.6 million units. The main thing driving the market's growth is that more cars are being made because consumers want more of them.
  • The Asia-Pacific electronics industry grew rapidly in the recent past due to high demand from countries like India and China. China is a strong and good market for companies that make electronics. This is because China has low labor costs and policies that are easy to change.
  • All the above mentioned pointers are expected to increase the demand for liquid crystalline polymer films and laminates in the coming years as the electronics industry grows.
Liquid Crystal Polymer Films And Laminates Market: Production of Polymers in India, Volume (Metric Tons), India, 2017-2021

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is anticipated to witness the highest CAGR during the period on account of the rapid expansion and consumption of the electronics and automotive industries in countries like China, Japan, and India.
  • China is the biggest place in the world where electronics are made, and it has a lot of competition from countries like South Korea, Singapore, and Taiwan.Electronic products, such as smartphones, OLED TVs, and tablets, have a major share of the market.
  • In India, the electronics market witnessed a growth in demand, with market size increasing at a rapid rate. According to the Ministry of Commerce & Industry, India’s electronic goods exports fetched USD 16.67 billion in December 2022, as compared to USD 10.99 billion in the same month of 2021. The growing electronics and appliances market in India and China may push market growth further in Asia-Pacific.
  • Liquid crystal polymer (LCP) films also find application in the packaging industry. In March 2022, TCPL Packaging Ltd. doubled its flexible packaging plant capacity, which has now gone into commercial production. Besides this, the company also expanded offset capacity by adding a new production line at the Goa plant. With these capacity expansions, market players are also poised to manage the expected higher demand.
  • Due to all the aforementioned pointers, it is expected that the demand for LCP films and laminates in the region will rise during the forecast period.
Liquid Crystal Polymer Films And Laminates Market: Liquid Crystal Polymer (LCP) Films Laminates Market - Growth Rate by Region, 2023-2028

Liquid Crystal Polymer (LCP) Films & Laminates Industry Overview

The liquid crystal polymer (LCP) films and laminates market is partially consolidated in nature, with a few major players dominating a significant portion of the market. Some of the major companies are Polyplastics Co. Ltd, Celanese Corporation, Sumitomo Chemical Company, Solvay, and KURARAY Co. Ltd, among others.

Liquid Crystal Polymer (LCP) Films & Laminates Market Leaders

  1. Polyplastics Co., Ltd.

  2. Celanese Corporation

  3. Sumitomo Chemical Company

  4. Solvay

  5. KURARAY CO., LTD.

*Disclaimer: Major Players sorted in no particular order

Liquid Crystal Polymer Films And Laminates Market Concentration

Liquid Crystal Polymer (LCP) Films & Laminates Market News

  • In August 2022, Polyplastics Co. Ltd expanded its engineering thermoplastics portfolio and material supply capabilities at the K 2022 exhibition in Düsseldorf, Germany. With the expansion, the company increased its liquid crystal polymer (LCP) sales to Europe, the Middle East, Africa, and the Americas while making timely investments in capacity to better respond to market growth.
  • In January 2022, Sumitomo Chemical Co., Ltd. built additional production lines for its liquid crystal polymer (LCP) SUMIKASUPERTM, at its Ehime Works in Japan. The capacity expansion is scheduled to be completed by the mid of 2023 and will help in increasing the production capacity by approximately 30%.

Liquid Crystal Polymer (LCP) Films & Laminates Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Miniaturization of Electrical and Electronic Components

      2. 4.1.2 Development of Lightweight Materials for Automobile Components

    2. 4.2 Restraints

      1. 4.2.1 High Manufacturing and Processing Costs

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market in Volume)

    1. 5.1 Type

      1. 5.1.1 LCP Films

      2. 5.1.2 LCP Laminates

    2. 5.2 Application

      1. 5.2.1 Automotive

      2. 5.2.2 Electronics

      3. 5.2.3 Medical Devices

      4. 5.2.4 Other Applications (Aerospace, Industrial Machinery)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) **/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Celanese Corporation

      2. 6.4.2 KGK Chemical Corporation

      3. 6.4.3 KURARAY CO. LTD.

      4. 6.4.4 Polyplastics Co. Ltd.

      5. 6.4.5 RTP Company

      6. 6.4.6 Rogers Corporation

      7. 6.4.7 Shanghai PRET Composites Co. Ltd.

      8. 6.4.8 Solvay

      9. 6.4.9 Sumitomo Chemical Advanced Technologies

      10. 6.4.10 Toray Industries Inc.

      11. 6.4.11 UENO FINE CHEMICALS INDUSTRY LTD.

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Potential in ASEAN and India Electronics Markets

**Subject to Availability
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Liquid Crystal Polymer (LCP) Films & Laminates Market Research FAQs

The Liquid Crystal Polymer Films And Laminates Market is studied from 2018 - 2028.

The Liquid Crystal Polymer Films And Laminates Market is growing at a CAGR of >5% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021 - 2026.

Asia-Pacific holds highest share in 2022.

Polyplastics Co., Ltd., Celanese Corporation, Sumitomo Chemical Company, Solvay, KURARAY CO., LTD. are the major companies operating in Liquid Crystal Polymer Films And Laminates Market.

Liquid Crystal Polymer (LCP) Films and Laminates Industry Report

Statistics for the 2023 Liquid Crystal Polymer (LCP) Films and Laminates market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Liquid Crystal Polymer (LCP) Films and Laminates analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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