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 Report Pages: 120
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2020
  • Forecast Period: 2023 - 2030 
  • Industry: Bulk Chemicals

Research Methodology

A three-pronged approach was followed for deducing the liquid crystal polymer market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for liquid crystal polymer market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of liquid crystal polymer market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Liquid Crystal Polymer Market Categorization:

The liquid crystal polymer market was categorized into three segments, namely application (Electrical Connectors, Fiber Optics, Automotive Lamps, Vascular Catheters Reinforcement Brainding, Surgical Instruments, Cookware Coatings), end-use (Electrical & Electronics, Automotive, Medical, Consumer Goods, Industrial Machinery), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The liquid crystal polymer market was segmented into application, end-use,  and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The liquid crystal polymer market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-one countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Spain; The Netherlands; China; India; Japan; South Korea; Malaysia; Singapore; Thailand; Brazil; Argentina; Saudi Arabia; UAE; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Liquid crystal polymer market companies & financials:

The liquid crystal polymer market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Polyplastics Co. Ltd.: Polyplastics product portfolio includes acetal copolymer (POM), polybutylene terephthalate (PBT), fiberglass reinforced polyethylene terephthalate (GF-PET), liquid crystal polymer (LCP), polyphenylene sulfide (PPS) and cyclic olefin copolymer (COC). The company caters to liquid crystal polymers for end-use applications such as SIMM sockets, headphone parts, shutter plates of cameras, QFP and transistor packages, cruise control sensors, and inhibitor switch parts. Polyplastics operates as a subsidiary of Daicel Corporation and has production facilities in Japan, Taiwan, Malaysia, and China.

  • Celanese Corporation: The company was founded in 1921 and headquartered in the U.S., and is a specialty chemical and advanced materials company. The company's product portfolio includes intermediate chemicals, cellulose derivatives, emulsion polymers, EVA polymers, liquid crystal polymers, and engineered materials. Celanese caters to liquid crystal polymers for end-use applications such as electrical & electronics and high-heat cookware applications. The company operates its production facilities in the U.S., Germany, China, India, South Korea and Malaysia.

  • Sumitomo Chemical Group: Sumitomo business is segmented into five business units which include basic chemicals, petrochemicals & plastics, IT-related chemicals, health & crop sciences, and pharmaceuticals. The company's petrochemicals & plastics segment caters to synthetic resins, liquid crystal polymers, polyethylene, polypropylene, and synthetic rubber. Sumitomo provides liquid crystal polymers for end-use applications such as connectors, optical pickup bobbins, LED and coil bobbins. As of 2014, the company had over 35,000 employees.

  • Solvay S.A.: The company was founded in 1863 and headquartered in Belgium, is a chemical and pharmaceutical company. The company's business units include chemicals, pharmaceuticals, and plastics. Solvay specializes in manufacturing plastics such as specialty polymers and vinyls. The company caters to liquid crystal polymers under the specialty polymers segment for end-use applications such as coatings, composites, additives, electric motor composites, high-intensity LEDs, and SMT components. Solvay operates production facilities in countries such as the U.S., France, Brazil, Germany, and Thailand.

  • Toray Industries Inc.: The company specializes in the production of chemicals, fibers, textiles, plastics, life science products, and carbon fiber composite materials. Toray caters to liquid crystal polymers under the IT-related products segment for end-use applications such as connectors, sensors, and electrical components. The company has also diversified into areas such as pharmaceuticals, medical products, reverse osmosis, and advanced composite materials. Toray has a regional presence in countries such as the U.S., France, Malaysia, Thailand, Czech, and China.

  • Ueno Fine Chemicals Industry Ltd.: The company specializes in manufacturing chemical products, liquid crystal polymers, and organic pigments. Ueno caters to liquid crystal polymers for end-use applications such as mobile phones, laptops, relays, connectors, and switches. The company has a regional presence in the U.S., Thailand, Malaysia, Spain and China.

  • Samsung Fine Chemicals Co., Ltd.: The company specializes in the production of ammonia, urea, caustic soda, multi-layer ceramic capacitors (MLCC), liquid crystal polymers, and barium tianate powder. Samsung caters to liquid crystal polymers for end-use applications such as electronic devices, optoelectronics, and machine parts. The company has a regional presence in Germany, Japan, and China.

  • Shanghai PRET Composites Co., Ltd. (PRET): The company was founded in 1993 and headquartered in China, is a high-performance plastics and composites company. The company specializes in the production of polypropylene, styrene copolymer, polycarbonate alloy, liquid crystal polymers, and modified polyolefin. PRET caters to liquid crystal polymers for end-use industries such as automotive, aerospace, chemical devices, and medical industries.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Liquid Crystal Polymer Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2020, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Liquid Crystal Polymer Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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