Liquid Crystal Polymer Films & Laminates Industry Overview
The global liquid crystal polymer films and laminates market size was estimated at USD 147.6 million in 2021 and is projected to augment at a CAGR of 7.1% from 2022-to-2030.
The market growth is primarily driven by the increasing use of LCP films & laminates as an alternative to polyimide films in various application industries. This trend is anticipated to continue in the forecast period. Liquid crystal polymer (LCP) belongs to the family of thermoplastics, having a unique set of properties. It is a super engineering plastic, which is tolerant under harsh environments. It has high heat, electrical, and chemical resistance. LCPs are anisotropic in nature (in both solid and liquid crystal phases), which means strength, stiffness, and thermal expansion will be greater in one direction but not the same in every direction. Also, LCP is ideal for flexible printed circuits (FPCs), antenna substrates, and housings because of its low moisture absorption and strong dielectric performance.
Gather more insights about the market drivers, restrains and growth of the Global Liquid Crystal Polymer Films & Laminates Market
The U.S. presents a large market for electronics & automotive alike, with significant scope for growth in the medical devices market. The country is home to several large automakers such as General Motors, Ford, Chrysler, Toyota, Nissan, Hyundai-Kia, and BMW. In terms of revenue, the market was valued at USD 31.2 million in 2021 and is projected to expand at a CAGR of 5.8% in the forecast period.
The need for sophisticated yet safe technology is driving innovation in the electronics industry. The semiconductor industry specifically remains a strong point in the U.S. economy, with companies such as Intel, TI, and Micron are investing in new fabrication facilities in the U.S. while continuing to make lower-tech, low-cost products, and packaging/test offshore. Growing demand for flexible and high-performance circuit boards is, thus, expected to augment the demand for LCP films & laminates in the electronics industry.
Films and laminates constitute a relative niche market in the global LCP market, however, they have several applications on account of their improved creep resistance, low coefficient of thermal expansion, high modulus & strength, minimal moisture absorption, high abrasion resistance, excellent flex/fold characteristics, excellent chemical resistance, high dielectric strength, outstanding cut resistance, and high impact resistance coupled with vibration & dampening characteristics.
However, limitation in the melting process is anticipated to hinder the market growth in the forecast period. The melt viscosity of LCP resins is much lower than other competitive thermoplastic resins. Other physical limitations include high anisotropy of the product’s properties, poor knit line strength, and the requirement of stoving or drying before melt processing.
Browse through Grand View Research’s Specialty Polymers Industry Research Reports.
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Market Share Insights
- November 2021: Panasonic Announces Verification of Inhibitory Effect of Hydroxyl Radicals Contained in Water (Nano-Sized Electrostatic Atomized Water Particle) on 4 novel Coronavirus (SARS-CoV-2) Variants.
Key Companies profiled:
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
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