Liquid Crystal Polymer (LCP) Films & Laminates Market Size, Share & Trends Report

Liquid Crystal Polymer (LCP) Films & Laminates Market Size, Share & Trends Analysis Report By Application (Electrical & Electronics, Automotive, Consumer Goods, Medical Device, Packaging), By Product, And Segment Forecasts, 2019 - 2025

  • Published Date: Mar, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-924-1
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 155

Industry Insights

The global Liquid Crystal Polymer films & laminates market size was valued at USD 111.3 million in 2018 and is projected to expand at a CAGR of 7.2% from 2019 to 2025. The industry is characterized by the growing preference for lightweight and sustainable materials in major end-use industries, such as automotive, packaging, and electronics. Technological innovations have laid the foundation for high-performance, durable films & laminates with eco-friendly properties, low maintenance costs, and enhanced performance characteristics, such as low coefficient of thermal expansion, high modulus strength, minimal moisture absorption, high abrasion resistance, and excellent flexibility.

Moreover, wide usage of these polymers in the construction & building sector has fostered the development of electrically-controlled ‘smart windows’, specifically conforming to the ongoing ‘green building’ trend. These windows are able to transition from opaque to transparent at the touch of a button, allowing energy savings, visibility, and natural light as per customer requirements. These films & laminates are also widely used in flexible Printed Circuit Boards (PCBs), 3D printable electronics, and tight packaging applications owing to properties, such as high elasticity, chemical, moisture and scratch resistance, and dielectric strength.

U.S. Liquid Crystal Polymer films & laminates market

Major raw material used in the production of LCP films & laminates includes thermoplastic LCP resins in the form of pellets or granules. Benzoic acid and p-Hydroxy napthoic acid are other key raw materials used in synthesis process. Supply of these materials is constrained in the global market, owing to the limited number of biphenol manufacturers, which is said to result in increased prices of raw materials. Laminates require adhesion to a metal foil substrate, which is generally a copper sheet. Thus, copper and metal prices also influence the industry trends.

Most films are processed via roll calendering or extrusion, which helps develop products with optimum thickness and gauge. LCP films are substituting polyimide films in packaging applications, owing to the former’s exceptional mechanical and chemical properties. These films are also replacing other materials, such as Ethylene Vinyl Alcohol (EVOH) films, on account of their lower viscosity, production times, and low maintenance costs in the long run. Emerging economies in Asia Pacific and Central & South America are the key product consumers.

Market growth in these regions can be attributed to high consumer disposable incomes, rapidly expanding end-use industries, and rising consumer awareness regarding sustainable materials. Moreover, a number of suppliers and manufacturers are shifting their production facilities from developed countries to China and India due to low-cost labor and costs, ample resources, and vast untapped markets.

Product Insights

On the basis of product, the market has been categorized into films and laminates. Films led the global market in 2018 accounting for over one-third of the market volume. Inherent properties, such as low coefficient of thermal expansion, reduced moisture absorption, high tensile strength, as well as abrasion resistance, are likely to foster the product demand further in several end-use industries. Heat and corrosion resistance properties are other key attributes driving the demand for LCP films, particularly in the automotive sector. Laminates offer a convenient form factor allowing sturdy planar construction. They also display excellent moisture absorption, which contributes sustainably towards the environment.

Application Insights

On the basis of application, the market has been categorized into electrical & electronics, packaging, automotive, medical devices, and other applications that includehigh-temperature machinery components & equipment, footwear, and nonwoven textiles for protective layering. Electrical & electronics is likely to remain the dominant application segment. These films are preferred in this application on account of the polymer’s ion-free polycondensation production process.

Global Liquid Crystal Polymer films & laminates market

LCP laminates are utilized in consumer goods and other applications, such as protective clothing, plastic disposables, and industrial waste bags. Thinner laminates are likely to witness high demand in flexible electronics, specifically for high-frequency applications, as they prevent unwanted disruptions caused by wave propagations. However, the automotive & transportation segment is anticipated to emerge as the fastest-growing application for laminates on account of high demand for materials with high out-gassing capacity.

Regional Insights

Regional markets analyzed in the report include North America, Europe, Asia Pacific (APAC), Central & South America (CSA), and Middle East & Africa (MEA). Globally, APAC was the largest market and accounted for over 48% of overall demand in 2018. Rising consumer disposable income levels and changing lifestyles are among the key factors driving the region.

Moreover, changing consumer preferences due to the advent of advanced telecommunication technologies and IT infrastructure in the region are the projected to propel the product demand further. Overall market volume in North America is anticipated to expand at a CAGR of 6.6% from 2019 to 2025. Growing health concerns and prevalence of chronic and lifestyle-related diseases have resulted in an increased number of healthcare facilities across developed countries, such as U.S. and Canada, which, in turn, is likely to foster LCP films demand in medical devices.

Liquid Crystal Polymer (LCP) Films & Laminates Market Share Insights

The global market is characterized by strategic alliances among multinational companies, increasing product and technological innovations, coupled with a shift in manufacturing to emerging economies like Vietnam, Thailand, and Brazil. The global market has numerous multinational firms including Solvay, Inc.; Kuraray; PolyOne Corporation; Celanese Corporation; Sumitomo Chemicals; Toray International; Rogers Corporation; and other independent regional companies, such as RTP Company, Shanghai PRET Composites, Samsung Fine Chemicals, and PolyPlastics Co. Ltd.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Tons, Revenue in USD Million, and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, China, India, Japan, South Korea, Taiwan, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Liquid Crystal Polymer (LCP) films & laminates market report on the basis of product, application, and region:

  • Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

    • Films

    • Laminates

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

    • Films

      • Electrical & Electronics

      • Packaging

      • Automotive

      • Medical Devices

      • Others

    • Laminates

      • Electrical & Electronics

      • Automotive & Transportation

      • Consumer Goods

      • Medical Devices

      • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Taiwan

    • Central & South America

      • Brazil

    • Middle East and Africa

Key questions answered by the report
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