Liquid Crystal Polymer Films and Laminates Sector: Growth Drivers and Challenges
Growth Drivers
- Rising usage of LCPs in the aerospace industry: Growing demand for high-performance electrical components including LCP films and laminates in the aerospace and defense sector is expected to drive the global market during the forecast period. The aerospace sector requires materials that can withstand high frequencies and minimum signal losses. LCPs are widely used in applications such as radar systems and antennas due to their low-loss tangents and dielectric signal loss.
These LCPs are used in the manufacture of flexible circuits, microelectronic components, and connectors due to high-frequency stability and dielectric properties. These are also used in composite materials to reduce the overall aircraft weight and improve fuel efficiency. - Miniaturization of electronics: Miniaturization is a key driving force in modern technology, enabling the development of compact, lighter, convenient, and more powerful electronic devices such as smartphones, tablets, and wearable devices. It enables the integration of several functions into single devices and improves overall functionality. LCP films and laminates are widely used in this process due to its ability to provide enhanced functionality at reduced sizes.
Challenges
- Rising environmental issues in terms of disposal and recycling of LCPs: As LCPs are thermoplastics, disposal and recycling can be a major issue. LCPs can persist in landfills for an uncertain time due to their durability and resistance to degradation. In addition, the recycling of these LCPs requires specialized equipment and processes. The overall cost of such equipment can be high and not widely available. This can be a key restraint leading to low adoption of LCP films and laminates.
- Competition from other materials: LCPs are costly and environmentally friendly. Thus, many people are inclined towards sustainable, affordable, and high-performing polymers such as polylactic acid (PLA) and polyether ether ketone (PEEK), leading to declining sales of LCP films and laminates.
Liquid Crystal Polymer Films and Laminates Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.20% |
|
Base Year Market Size (2024) |
USD 189.1 million |
|
Forecast Year Market Size (2037) |
USD 466.9 million |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
The industry size of liquid crystal polymer films and laminates was USD 189.1 million.
The liquid crystal polymer films and laminates market size is expected to cross USD 466.9million by the end of 2037, expanding at a CAGR of 7.20% during the forecast period. i.e., between 2025-2037
Polyplastics Co., Ltd., Sumitomo Chemical Co., Ltd., Toray Industries, Inc., Celanese Corporation, Kuraray Co., Ltd., Rogers Corporation, Ensinger GmbH, Panasonic Holdings Corporation, Syensqo, Ueno Fine Chemicals Industry, Ltd. and SEYANG POLYMER CORPORATION are some key players dominating the global market.
The automotive segment is expected to register a rapid revenue CAGR of 8.3% during the forecast period owing to the need for sophisticated electronic components for autonomous driving and advanced driver assistance systems (ADAS).
APEJ is expected to provide lucrative opportunities for expansion in the liquid crystal polymer films and laminates market in the coming years.
