Global Liquid Crystal Polymers Market Size 2024, Forecast To 2033
6 Mar, 2024
The liquid crystal polymers market size has experienced robust growth in recent years, increasing from $1.75 billion in 2023 to $1.89 billion in 2024, with a compound annual growth rate (CAGR) of 7.8%. This growth is attributed to data center expansion, energy efficiency, cost-effective scaling, web hosting requirements, low power consumption, and parallel processing needs. Looking ahead, the market is expected to see strong growth, reaching $2.62 billion by 2028, with a CAGR of 8.5%. Growth in the forecast period can be attributed to smart cities development, autonomous vehicles, telemedicine growth, evolving security requirements, and security concerns and hardware-based solutions. Major trends in the forecast period include AI and machine learning workloads, customized and application-specific solutions, Open Compute Project (OCP), heterogeneous computing architectures, and blockchain technology.
Global Liquid Crystal Polymers Market Key Driver
The development of lightweight materials for automobile components is driving the liquid crystal polymer market going forward. Lightweight automotive components refer to parts and materials used in vehicles that are designed to be lighter in weight compared to traditional automotive components. These components are in demand due to their added benefits. Liquid crystal polymers are used for making lightweight automotive components that are used in electric vehicles and combustion vehicles. For instance, according to the US Office of Energy Efficiency and Renewable Energy, a US-based government organization working to build a clean energy economy, a 10% reduction in the weight of automobiles can increase fuel efficiency by 6%-8% and use of lightweight materials in one-quarter of the U.S. fleet could save about 5 billion gallons of fuel annually by 2030. Therefore, the growth of lightweight automotive components is propelling the liquid crystal polymer market.
Get A Free Sample Of The Global Liquid Crystal Polymers Market ReportGlobal Liquid Crystal Polymers Market Segments
The liquid crystal polymers market covered in this report is segmented –
1) By Product Type: Lyotropic LC Polymers, Thermotropic LC polymers
2) By Category: Main Chain LC Polymers, Side Chain LC Polymers
3) By Form: LCP Resins And Compounds, Liquid Crystal Polymer Films, Liquid Crystal Polymer Fibers
4) By Application: Electrical And Electronics, Industrial Machinery, Consumer Goods, Lighting, Medical, Others Applications
By Geography:The regions covered in the liquid crystal polymers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the liquid crystal polymer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global liquid crystal polymers market during the forecast period. The regions covered in the liquid crystal polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Liquid Crystal Polymers Industry Players
Celanese Corporation, Sumitomo Chemical Co. Ltd., Toray Industries Inc., Solvay S.A., Ueno Fine Chemicals Industry Ltd., Shanghai PRET Composites Co. Ltd., Rogers Corporation, RTP Company Inc., Kuraray Co. Ltd., Zeus Company Inc., Chang Chun Group, Henan DaKen Chemical Co. Ltd., Avient Corporation, DuPont de Nemours Inc., Polyplastics Co. Ltd., ENEOS LC Co.Ltd., Daicel Corporation, Kingfa Sci.&Tech. Co.Ltd., Ningbo Jujia New Material Technology Co. Ltd., Samsung Chemicals Co.Ltd., Shanghai Kumho Sunny Plastics Co.Ltd., Saudi Basic Industries Corporation, PolyOne Corporation, Mitsubishi Chemical Corporation, LG Chem Ltd., Covestro AG, BASF SE, Arkema S.A., Asahi Kasei Corporation, DSM Engineering Plastics, Evonik Industries AG, Eastman Chemical Company
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Liquid Crystal Polymers Market Overview
Liquid crystal polymers (LCPs) refer to a class of high-performance engineering thermoplastics that possess a unique combination of properties, including high strength, stiffness, chemical resistance, and thermal stability. LCPs are used in a variety of high-performance applications in different industries wear and degradation concerns encountered with existing fiber materials are addressed by temperature and chemical conditions.
Liquid Crystal Polymers Global Market Report 2023 provides data on the global liquid crystal polymers market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The liquid crystal polymers market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.