GVR Report cover Liquid Crystal Polymer Market Size, Share & Trends Report

Liquid Crystal Polymer Market Size, Share & Trends Analysis Report By Application (Electrical Connectors, Fiber Optics, Automotive Lamps, Cookware Coatings), By End-use (Automotive, Medical), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-332-4
  • Number of Pages: 120
  • Format: Electronic (PDF)

Report Overview

The global liquid crystal polymer market size was estimated to be USD 1.45 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 11.6% from 2023 to 2030.The increasing demand for liquid crystal polymer (LCP) from industries including medical, electrical and electronics, automotive, and others is expected drive the market growth over the forecast period, owing to the benefits offered by the polymer. LCP is an engineering plastic that offers enhanced strength, impact endrance, resistant to wide range of chemicals, flame retardant, maintaining end-use structure, offers low coefficient of thermal expansion (CTE) which can be adjusted, and flows well through thin walls.

U.S. liquid crystal polymer market size, by application, 2020 - 2030 (USD Million)

Next generation technologies including 3D printing and 5G are propelling the demand for liquid crystal polymers. Increasing demand for LCP is owing to the wide range of applications ranging from automotive to electrical & electronics, sports, leisure, consumer goods, and medical devices. In addition, increasing applications of liquid crystal polymer in solar cells, due to its low water absorbency and enhanced heat resistance are also supporting the LCP market growth across the country.

High end-use ion costs of LCP is expected to be a restraining factor and affect the growth of the market. Polyphthalamide (PPA), nylon, and Acrylonitrile Butadiene Styrene (ABS) are inexpensive in comparison to LCP which makes its less competitive in the market. Furthermore, manufacturing LCP requires higher investments owing to its complex manufacturing process. High technical expertise and end-uses with high temperature function are required for manufacturing LCP making them high-priced.

LCP is utilized for microwave-frequency electronics owing to its low-dissipation factors, low relative dielectric constants, and the commercial availability of laminates. LCPs offers properties essential for manufacturing miniaturized electronic parts for mounting on circuit boards using surface mount device (SDM) technology owing to which key manufacturers are utilizing LCP for its coil formers to build SMD transformers utilized in the telecommunication equipment.

Application Insights

Automotive lamps application dominated the LCP market in terms of revenue in 2022 with a market share of more than 24.0%. LCP can operate at high temperatures in applications including connectors, lighting, and sensors. The increased automotive electrification also requires LPC’s for utilization in solenoids, connectors, and sensors.

Combining thermal performance with electrical properties LCP enables significant copper slot fill in motor applications that enhances motor performance. In addition LCP can function at 240°C while offering enhanced dimensional stability and avoiding outgassing in lighting systems.

LCP are utilized in the electronic industry for a different of surface-mount technology (SMT), including connectors. They are being utilized to mold demanding fine pitch connectors that are thinner, smaller, and designed to be placed higher than traditional connectors to save space on printed circuit boards to address the miniaturization requirements for more compact, lightweight, and smaller consumer electronics.

End-use Insights

The electrical and electronics end-use segment dominated the LCP market in terms of revenue with a market share of more than 25.0%. Miniaturization and downsizing of electronic components for their utilization in new emerging applications is expected to drive the market demand over the forecast period.

Global liquid crystal polymer market share, by end-use, 2022 (%)

LCP is an aromatic liquid crystal polyester polymer with a stiff polymer chain structure. Owing to its unique molecular structure, it has enhanced vibration absorption characteristics, good chemical & heat resistance, self-reinforcing effect, low dielectric properties, small linear expansion rate, enhanced extinguishing, and others. Owing to its high dielectric performance, and low moisture absorption it is an ideal material for utilization in antenna substrates, housings, and Flexible Printed Circuits (FPCs).

Increasing demand for video streaming services, internet of things (IoT), and 5G cellular networks have propelled the demand for liquid crystal polymers from electrical & electronics manufacturers. Liquid crystal polymers are high-performance microwave/millimeter wave (mm-wave) substrates and packaging materials due to their outstanding properties.

Regional Insights

Across the regions, Asia Pacific sustained the majority of market share of about 36% owing to the rising disposable income of the population across the emerging economies such as China and India. The Asian market is a hub for electronic device assembly inclusive of manufacturers such as Hon Hai Precision Industry Co. Ltd. (Foxconn), Qualcomm Technologies, Inc., SAMSUNG ELECTRONICS CO., LTD., LG Electronics, and various others, increasing the demand for LCP across the region.

Liquid Crystal Polymers Market Trends, by Region, 2023 - 2030

Asia Pacific is accompanied by North America with a market share of more than 27% owing to the increased research & development and implementation of technological advancements in line with the increasing demand for high speed internet access. For instance, AT&T Inc. was one of the first 5G technology provider across the U.S., propelling the demand for LCP across electronic device manufacturers.

Furthermore, investments across the Europe for Artic data cable linking from Europe to Japan has propelled the demand for LCP across optical fiber applications. As of December 2022, the subsea cable to be laid on the Artic seabed connecting Europe to Japan via North America, received its first investment of USD 1.15 billion. This is anticipated to propel the demand for liquid crystal polymers across the Europe during the forecast period.

Key Companies & Market Share Insights

Strategic partnerships, capacity expansions, and new end-use developments are popular strategies adopted by a majority of the players operating in the global liquid crystal polymer market. For instance, as of July 2022, Sumitomo Chemical Advanced Technologies has developed a new long-fiber thermoplastic liquid crystal polymer, namely, SUMIKASUPER to be further utilized across optical fiber applications. Some of the prominent companies in the global liquid crystal polymer market include:

  • Solvay

  • Celanese Corporation

  • Sumitomo Chemical Company



  • RTP Company

  • Zeus Company Inc.

  • Chang Chung Group

  • Polyplastics Co.

  • Daken Chem

Liquid Crystal Polymers Market Report Scope

Report Attribute


Market size value in 2023

USD 1.59 billion

Revenue forecast in 2030

USD 3.4 billion

Growth rate

CAGR of 11.6% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2020

Forecast period

2023 - 2030

Quantitative units

Volume in kilotons, revenue in USD million, and CAGR from 2023 to 2030

Report coverage

Volume & revenue forecast, competitive landscape, growth factors, and trends

Segments covered

Application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country Scope

U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; The Netherlands; China; India; Japan; South Korea; Malaysia; Singapore; Thailand; Brazil; Argentina; Saudi Arabia; UAE; South Africa

Key companies profiled

Solvay; Celanese Corporation; Sumitomo Chemical Company; TORAY INDUSTRIES, INC.; UENO FINE CHEMICALS INDUSTRY, LTD.; RTP Company; Zeus Company, Inc.; Chang Chung Group; Polyplastics Co.; and Daken Chem

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Liquid Crystal Polymers Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global liquid crystal polymer market report on the basis of application, end-use, and region:

Global Liquid Crystal Polymers Market Report Segmentation

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Electrical Connectors

    • Fiber Optics

    • Automotive Lamps

    • Vascular Catheters Reinforcement Brainding

    • Surgical Instruments

    • Cookware Coatings

    • Others

  • End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Electrical & Electronics

    • Automotive

    • Medical

    • Consumer Goods

    • Industrial Machinery

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • U.K.

      • Italy

      • Spain

      • The Netherlands

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Malaysia

      • Singapore

      • Thailand

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • UAE

      • South Africa

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