The liquid crystal polymers (LCP) market is expected to grow significantly due to their increasing demand in various industries such as automotive, electrical & electronics, aerospace, and healthcare. The rise in demand for lightweight and high-performance materials with unique properties such as chemical resistance, low coefficient of thermal expansion, and dimensional stability is driving the market growth. Moreover, the increasing use of LCP in 3D printing applications is further boosting market growth. However, the high cost of LCP compared to other polymers and the limited availability of raw materials are hindering the market growth. The Asia-Pacific region is expected to dominate the LCP market due to its growing industrialization, rising demand for high-performance materials, and increasing investments in various end-use industries.
Global Liquid Crystal Polymers Market was valued at US$ 1.2 Billion in 2021 in terms of revenue, exhibiting a CAGR of 7.9% during the forecast period (2022 to 2030).
Prominent Companies in the Liquid Crystal Polymers Industry:
1. Celanese Corporation
Celanese Corporation is a global chemical and specialty materials company founded in 1918 and headquartered in Dallas, Texas. The company operates in 33 countries. In 2020, Celanese launched a new thermoplastic elastomer product line for medical device manufacturers.
2. Polyplastics Co Ltd
Polyplastics Co Ltd is a Japanese chemical company founded in 1954 and headquartered in Tokyo, Japan. The company operates in 13 countries. In 2021, Polyplastics announced the launch of its DURACON POM PM series, a high-purity grade of polyoxymethylene (POM) for medical and pharmaceutical applications.
3. Sumitomo Chemical Co., Ltd.
Sumitomo Chemical Co., Ltd. is a Japanese chemical company founded in 1913 and headquartered in Tokyo, Japan. The company operates in over 180 countries. In 2021, Sumitomo Chemical announced the development of a new type of surgical face mask that uses a special resin material that eliminates 99% of the virus that causes COVID-19.
4. Toray Industries Inc.
Toray Industries Inc. is a Japanese multinational corporation founded in 1926 and headquartered in Tokyo, Japan. The company operates in over 26 countries. In 2020, Toray Industries announced the launch of its new Torayfan RS03 RipStop film, a high-strength and tear-resistant film for packaging applications.
5. Solvay S.A.
Solvay S.A. is a Belgian chemical company founded in 1863 and headquartered in Brussels, Belgium. The company operates in over 62 countries. In 2021, Solvay announced the launch of its new KetaSpire PEEK XT polymer, a high-temperature, high-strength material for medical device applications.
6. Ueno Fine Chemicals Industry, Ltd.
Ueno Fine Chemicals Industry, Ltd. is a Japanese chemical company founded in 1918 and headquartered in Tokyo, Japan. The company operates in over 22 countries. In 2021, Ueno Fine Chemicals announced the expansion of its production capacity for API intermediates and fine chemicals.
7. Shanghai PRET Composites Co., Ltd.
Shanghai PRET Composites Co., Ltd. is a Chinese composite materials company founded in 2006 and headquartered in Shanghai, China. The company operates in over 50 countries. In 2020, PRET Composites announced the launch of its new series of medical-grade composite materials for medical device applications.
*Definition- Liquid crystal polymers (LCP) are a class of highly ordered and structured polymers with unique properties such as high temperature resistance, chemical resistance, low moisture absorption, and high stiffness. They are widely used in various industries such as automotive, electrical & electronics, aerospace, and healthcare.
