NEW YORK - April 12, 2021 - For the production of consumer electronic devices, such as smartphones, light-emitting diode (LED) televisions, microwaves, computers, and smart watches, high-volume of liquid crystal polymers (LCPs) is used, on account of their electrical and mechanical properties. Due to the surging penetration of these products, the liquid crystal polymer market is expected to progress at a CAGR of 5.7% during 2018–2023. According to P&S Intelligence, the market stood at $1,037.4 million in 2017 and it is projected to reach $1,447.9 million by 2023.

LCP is used in the consumer electronics industry, as it possesses features such as excellent dielectric strength, exceptional mechanical property retention, impressive dimensional stability, and notable strength at extreme temperatures. All these conducive electrical properties have made this polymer an optimal electronic substrate and packaging substance for high-frequency circuit boards that are deployed in consumer electronic devices. This has motivated companies in the market, such as Celanese Corporation, Toray Industries Inc., Sumitomo Chemical Co. Ltd., and Kuraray Co. Ltd., to increase the LCP production and research in the foreseeable future.

In addition to the electronics industry, LCP is used in the automotive industry for the production of heater plug connectors, pump components, ignition system components, lamp sockets, coil forms, transmission system components, sensors, and others. This is due to the exceptional advantages offered by this polymer that include high-creep resistance and dimensional stability, especially at extremely high temperatures. Moreover, LCPs also exhibit exceptional fatigue resistance over a wide range of temperatures, and are resistant to concentrated acids, hydrocarbons, and bases, which make them viable for automobile components.

Geographically, the Asia-Pacific liquid crystal polymer market (https://www.psmarketresearch.com/market-analysis/liquid-c...) is expected to consume the highest quantity of LCPs in the coming years. This can be ascribed to the presence of large-scale semiconductor manufacturing plants in countries, such as Japan, Taiwan, and China. Moreover, rapid expansion of the consumer electronics industry in Vietnam and India will intensify the consumption and production of LCPs in the region. Additionally, the booming automotive and power sectors in the APAC region will fuel the demand for LCPs during the forecast period.

Thus, the surging prevalence of consumer electronic products and the exceptional mechanical and electrical properties of LCPs will fuel their consumption worldwide.

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Vijay Kumar