Liquid Crystal Polymer Films And Laminates Industry Overview
The global liquid crystal polymer films and laminates market is expected to reach USD 271.7 million by 2030, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.1% from 2022 to 2030. The increasing global demand for wearable devices coupled with the increasing use of LCP films as an alternative to polyimide films is expected to drive the global market over the forecast period.
Liquid crystal polymer exhibits a highly ordered structure in both the molten and solid states. Due to its superior strength in extreme temperature conditions and its ability to withstand virtually all chemicals, burns, weathering, and radiation, it is widely used as an alternative for various materials such as metals, composites, ceramics, and plastics.
Liquid Crystal Polymer Films And Laminates Market Segmentation
Grand View Research has segmented the global liquid crystal polymer films & laminates market report based on product, application, and region:
Based on the Product Insights, the market is segmented into films and laminates
The films segment dominated the global with a high revenue share of more than 67% in 2021. The manufacturing process for films and laminates differs according to the type and grade of the end product. However, most films are processed via roll calendaring or extrusion, which helps manufacture the best products with optimum thickness and gauge.
Laminates are formed by direct lamination of LCP resins onto copper foils, either with or without the application of adhesives. LCP films dominated the LCP films & laminates and are projected to progress at a CAGR of 6.7% over the forecast period.
LCP films segment is expected to witness considerable growth over the forecast period on account of its inherent properties such as low coefficient of thermal expansion (CTE), reduced moisture absorption, high tensile strength, and abrasion resistance
Based on the Application Insights, the market is segmented into electrical & electronics, automotive & transportation, consumer goods, medical devices and others
The electrical & electronics segment emerged as the largest application segment in 2021 and accounted for more than 63.2% share of the overall revenue.
Remarkable developments in the field of wireless communication and technology have paved the way for the use of LCP films in diverse and new applications. Foreign investors are investing heavily in modernizing the communication infrastructure, which, in turn, is propelling the demand for communication equipment.
LCP films exhibit temperature and moisture resistant properties, strong vibration absorption qualities, low dielectric properties, good chemical, and heat resistance, low melt viscosity, low linear expansion rate, and self-reinforcing effect which is expected to positively affect the market growth over the forecast period. They are slated to boost future markets from automobile and transportation industries owing to chemical reaction resistance against corrosive fumes and gasoline alcohol fuels in vehicles.
LCP films are used in the packaging industry due to their robust mechanical and chemical properties. They are slowly replacing polyamide films in the packaging industry. In cavity packing, LCP films have grown as an alternative to generally used metal and ceramic materials.
Liquid crystal polymer films have the best properties among the polymeric material and are used in the cavity packing of sensors and microelectromechanical (MEM) devices.
Liquid Crystal Polymer Films And Laminates Regional Outlook
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Manufacturers such as Sumitomo Chemicals and Kuraray Co., Ltd, are integrated along the value chain from raw material processing to final production and distribution as well. These companies have the added competitive advantage of lower procurement costs and highly efficient distribution and logistics.
Some of the key companies in the global liquid crystal polymer (LCP) films & laminates market are:
Murata Manufacturing Co., Ltd.
Azotek Co., Ltd.
Panasonic Corp.
Furukawa Electric Co., Ltd.
Rogers Corporation
Kuraray Co., Ltd.
CHIYODA INTEGRE CO., LTD.
KGK Chemical Corporation
iQLP
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.