The global liquid crystal polymer films & laminates market was valued at USD 120.2 Mn in 2019 and is projected to reach USD 195.8 Mn by 2027, expanding at a CAGR of 6.8% during the forecast period. The liquid crystalline polymers (LCPs) are a special type of thermoplastics that exhibit properties between highly ordered solid crystalline materials and amorphous disordered liquids, over a well-defined temperature range. Raw material used in the production of LCP films & laminate includes thermoplastic LCP resins in the form of pellets or granules. Benzoic acid and p-hydroxy napthoic acid are other raw materials used in synthesis process of LCP films & laminates.
The market is driven by factors such as increase in the demand for LCP in electronics & electrical industry, and rise in the sale of electric vehicles in developing economies. Conversely, high preference for substitute products and conventional techniques and high cost and low weld property of LCP films and laminates are likely to restrain the market. Increasing LCP adoption in construction industry and production technique innovation and ongoing R&D activities are creating opportunities in the market.
Based on types, the global liquid crystal polymer films & laminates market is divided into films and laminates. The laminates segment is anticipated to hold a significant share of the Liquid Crystal Polymer Films & Laminates market during the forecast period. Increasing use of LCP laminates in consumer electronic devices drives the segment growth. Moreover, high temperature resistance property offered by LCP laminates increases their adoption across the globe. The manufacturing of LCP laminates require adhesion to a metal foil substrate, which is generally a copper sheet. Thus, copper and metal prices influences segment growth. The films segment is expected to expand at a significant CAGR during the forecast period. Heat and corrosion resistance properties are key factors driving the demand for LCP films, particularly in the automotive sector. Laminates offer a convenient form factor allowing sturdy planar construction, which in turn, fuels segment growth in the industry. Moreover, increasing research to develop LCP is likely to create growth opportunities in the films segment during the forecast period.
Film formation of LCP resin is primarily manufactured using the melt extrusion method that extrudes molten resin into rolls to form a film. LCP films have high electrical characteristics and dimensional stability & heat resistance, and thus they find applications in various industries globally. LCP films have significant moisture absorption.
LCP laminates have melt temperature more than 330°C, and thus find their general applications as dielectric laminates to deliver high yields in single-layer and multilayer circuit constructions. LCP laminates are adhesive less and find their applications for simplified and improved construction of multilayer circuit boards at high temperatures.
Based on applications, the global Liquid Crystal Polymer Films & Laminates market is classified as electronics & electrical, industrial machinery, packaging, automotive, and others. The electronics and electrical segment holds a significant share of the global market, as LCP is extensively used in this segment. Enhancements in the quality of printed circuit boards (PCBs) and electronics devices using innovative LCP films & laminate register growth opportunities in the electronics & electrical segment during the forecast period. The use of thin LCP laminates in flexible electronics, specifically for high-frequency applications, is fueling segment growth. Laminates prevent unwanted disruptions caused by wave propagation in electronic devices, and thus their use in the industry is significant increasing, which in turn, is boosting segment growth. The automotive segment is projected to expand at a significant CAGR during the forecast period due to high demand for materials with high out-gassing capacity. Conversely, increasing in-bound & in-plant logistics, and innovation pertaining to the packaging of various commodities fuels the demand of LCP films & laminate in industrial machinery and packaging applications.
In the electronic & electrical industry, LCP films & laminate are used for flexible printed circuits, monolithic microwave integrated circuit, IC packaging, and for other semiconductors. The electronics & electrical segment consists of electronic medical devices where LCP films & laminates find their use for insulation purposes.
Industrial machinery consists of tangible equipment, machineries, and components with a depreciable life of 2 years to 3 years. These machines are used as an integral part in the manufacturing, processing, compounding, or production of tangible personal property for sale or are exclusively used in the activities.
Packaging includes packaging of commodities for food & beverages, logistics, and for other packaging applications. LCP films are substituting polyimide films in packaging applications, owing to the former’s exceptional mechanical and chemical properties.
In automotive industry, LCP films & laminates are used in advanced transportation and smart devices. Favorable properties of LCP films & laminates, such as high chemical resistance, thermal resistance, good mechanical strength, and lightweight, increases their application in the automobiles industry.
Based on regions, the global liquid crystal polymer films & laminates market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA).
Asia Pacific holds a significant share of the global liquid crystal polymer films & laminates market due to the presence of a prominent electronics & electrical industry in the region. Moreover, key players focus on technological advancements in LCP films & laminates manufacturing techniques, which is driving the market growth in the region. Asia Pacific is expected to be lucrative region for the market owing to presence of significant number of original equipment manufacturers (OEM). Growing scientific base and research capabilities and expansion of the electronics & electrical industry are driving the market in the region.
Increasing innovation pertaining to the LCP films & laminates by manufacturers in North America and Europe fuels the market in these regions. Moreover, entrance of new players in North America is expected to create growth opportunities in the market in the region. Growing health concerns and prevalence of chronic and lifestyle-related diseases have increased the number of healthcare facilities in the US and Canada, which is likely to drive the need for LCP films & laminates films in medical devices manufacturing.
Some frequently asked quetions about this report!
Major manufacturers include Polyplastics Co., Ltd, Celanese Corporation, Sumitomo Chemical Co., Ltd., KURARAY CO., LTD., CHIYODA INTEGRE CO., LTD, and Others.
The base year considered for the global liquid crystal polymer films & laminates market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
The market is expected to witness downfall owing to the negative impact of COVID-19 pandemic on the liquid crystal polymer films & laminates market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Electronics & electrical, industrial machinery, packaging, automotive, and others, are the key application that are driving the global liquid crystal polymer films & laminates market.
The market is driven by increase in the demand for LCP in electronics & electrical industry, and rise in the sale of electric vehicles in developing economies.
In addition to market size (in USD Million) and in market volume (in Thousand Sqm) company market share (in % for base year 2019), other data such as Pricing Analysis, Regulatory Framework, Technology Landscape, macro-economic factors, and COVID-19 Impact on liquid crystal polymer films & laminates is available in final report.
According to the Global Market Reports, global liquid crystal polymer films & laminates market is likely to register a CAGR of 6.8% during forecast period 2020-2027, with an anticipated valuation of USD 195.8 million by the end of the 2027.
Yes, the report covers types of liquid crystal polymer films & laminates such as films, and laminates.
Additional company profiles can be provided on request
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