Liquid Crystal Polymer Films and Laminates Market ToC
26.4 Cross Analysis of Product W.R.T. Application (USD Million), 2024-2037
27.4 Cross Analysis of Product W.R.T. Application (USD Million), 2024-2037
29.4 Cross Analysis of Product W.R.T. Application (USD Million), 2024-2037
30.4 Cross Analysis of Product W.R.T. Application (USD Million), 2024-2037
31 Global Economic Scenario
32 About Research Nester
Liquid Crystal Polymer Films and Laminates Market size is estimated at USD 189.1 million in 2024 and is expected to cross USD 470.4 million by the end of 2037, growing at a CAGR of 7.2% during the forecast period, i.e. 2025-2037.
The global sales of liquid crystal polymer films and laminates have significantly increased over the recent past owing to rising demand for LCPs in 5G infrastructure. LCPs are rapidly gaining traction in 5G electronic applications such as high-frequency connectors, low-pass insulation supporters, board-to-board connectors, and dipoles on active antenna units (AAU) due to their low dielectric constants and low loss tangents that reduce the signal attenuation and inference. The growing demand for high-frequency signals in 5G networks is a key factor boosting demand for LCP films and laminates in telecommunication systems.
Flexible copper-clad LCP films play a crucial role in 5G applications including high-frequency printed circuit boards. To cater to this need Kuraray announced the expansion of its production capacity for VECSTAR in July 2020. Manufacturers in the market are expanding their operations in developing economies. This is another factor expected to boost market growth during the forecast period. For instance, Celanese Corporation in January 2021, announced its plans to build a world-scale, multiphase LCP polymerization unit in China to enhance the production of LCPs and support the growth of Zenite and Vectra LCP product lines.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.2% |
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Base Year Market Size (2024) |
USD 189.1 million |
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Forecast Year Market Size (2037) |
USD 470.4 million |
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Regional Scope |
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Product (Films, Laminates)
Based on product, the films segment in the liquid crystal polymer films and laminates market is expected to account for the largest revenue share of 66.7% between 2025 and 2037 owing to its high usage in flexible printed circuits, connectors, antenna substrates, and several other electronic components. LCP films have high heat resistance and can withstand upto 300°C, making them a suitable choice for automotive, electronics, and aerospace.
These films have low dielectric constant and moisture absorption, and high chemical resistance, enhancing their scope applications such as medical implants, and surgical tools, aerospace components, fuel system components, and packaging. Key players are focused on launching novel products and services to enhance applications of LCP films across various sectors. In January 2022, Labtech Engineering Co. Ltd developed an LCP blown film line for laboratory and pilot plant production.
Application (Electrical & Electronics, Packaging, Automotive, Medical Devices)
Automotive segment in the liquid crystal polymer films and laminates market is expected to register over 8.3% growth till 2037 owing to the need for sophisticated electronic components for autonomous driving and advanced driver assistance systems (ADAS). LCP films are widely used in sensors, radar and lighting systems, connectors, and other components in modern vehicles as these offer exceptional flame and heat retardancy, chemical resistance, and low moisture absorption.
LCPs play a crucial role in ensuring the operational efficiency of battery and thermal management systems, and power electronics. In addition, rising demand for lightweight and high-performance materials and growing adoption of electric vehicles is expected to further boost segment growth. One of the recent launches of LCPs in the automotive sector is Solvay’s LCP G-330 HH material which addresses challenging insulation and thermal requirements battery-based EVs.
Our in-depth analysis of the global liquid crystal polymer films and laminates market includes the following segments:
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Product |
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Application |
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Asia Pacific Excluding Japan Market Statistics
Liquid crystal polymer films and laminates market size for Asia Pacific region is estimated to cross USD 204.1 million by 2037. This growth is attributed to high usage of LCP films and laminates in the electronics sector and rapid adoption of advanced technologies. The electronics industry in APAC has witnessed significant expansion over the recent years. LCP film laminates play a crucial role in electronic devices due to its excellent properties, high heat and chemical resistance, dimensional stability, and low moisture absorption.
Another factor boosting LCP films and laminates market growth in APEJ is that many key players are expanding their operations in APAC. For instance, in October 2021, Matrix Electronics, North America’s leading supplier of raw materials to the printed circuit market announced the expansion of Panasonic’s Felios R-F705S LCP flex product line to 5 and 6 mil thick LCP materials.
China is one of the leading markets for LCP film laminates in this region due to its robust electronics manufacturing sector and presence of leading companies in the country. These key players are investing in R&D activities to launch novel and durable products. In September 2022, Sunway Communication received the UL certification that indicates authority for the company to independently develop LCP and other high frequency products.
The liquid crystal polymer films and laminates market in India is expected to witness steady growth during the forecast period. This growth can be attributed to increasing investments in the electronics and automotive sectors, rising focus on the miniaturization of electronics, and government initiatives like “Make in India” to support the local production of electronic goods. As per a survey released by Invest India in 2o24, the current electronics market in India is valued at USD 155 billion in which local production accounts for 65%.
North America Market Analysis
The North America liquid crystal polymer films and laminates market is expected to register a rapid revenue CAGR of 7.31% between 2025 and 2037 owing to increasing demand for highly durable, advanced LCP films and laminates in the electronics and wearable devices. According to the latest survey by Health Information National Trends Survey, more than 21% of adults in the U.S. wear fitness trackers and smartwatches.
In the U.S. the market is rapidly expanding as many players are investing in R&D activities to cater to the rising demand. For instance, in September 2021, Celanese, announced the launch of Vectra MT LCP, medical grade LCP for wearable injection devices. The material properties of LCPs including low latency to flash, high accuracy, and fast processing provide significant advantages over traditional thermoplastics while processing.
The competitive landscape for liquid crystal polymer films and laminates is characterized by a mixture of established companies and emerging global and regional players. Dominant players such as Panasonic Corp, Kuraray Co. Ltd, Polyplastics Co., Ltd, and Murata Manufacturing Co. are integrating operations from raw material processing to final production and are focused on developing cost-effective and efficient products. These key players are adopting several strategies such as mergers and acquisitions, partnerships, and product launches to enhance their product base and maintain their position in the market. Here is a list of key players operating in the liquid crystal polymer films and laminates market:
Author Credits: Rajrani Baghel
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