In 2022, the global liquid crystal polymer market had a total size of USD 1,313million, and it is projected to hit USD 2,360 million by 2030, advancing at a rate of 7.60%, during the projection period. This development of the industry can be credited to the rising demand for consumer electronic items, like tablets, smartphones, smartwatches, and personal computers, and the growing sales of lightweight vehicles.
In 2022,
thermotropic type had the largest market share, of approximately 80%. This is
mainly because it has brilliant thermal properties, displays superior elastic
behavior, and has a low thickness. It also has working in diverse electronic
items like tablets, laptops, and televisions.
During the
projection period, the semiconductor & electronics category is projected to
experience the fastest development, growing at a CAGR of 8.2%. This can be
credited to the reduction of electronic items, and numerous features of LCPs
like essential flame retardance, excellent chemical resistance, and robust
strength at dangerous temp. such superior quality properties allow the use of
LCPs in diverse electronic item components and parts, such as antenna
substrates, chip carriers and housings, and flexible printed circuits.
In 2022, the APAC
region dominated the industry, with a share of 62%, and the region is projected
to lead the industry in the future as well. This growth can be ascribed to the
fast growth of the electronics sector, inexpensive manufacturing abilities, a
vast populace base, and technical improvements in the region.
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This industry is
also projected to be propelled by the rising need for semiconductor and
electronic components in consumer devices and appliances, like calculators,
watches, appliances, flat panel TVs, laptops, personal desktops, and tablets.
The development in
the requirement for liquid crystal polymers is propelled by the acceptance of
such polymers in the rising automotive sector. There has been incredible
development in the making of automobiles and also the sales in industries such
as China, Japan, India, and the U.S.
The worldwide trend
in the market is to make vehicles to fulfill the progressively strict fuel
economy orders. One of the major solutions to this puzzle is to make
lightweight cars. For example, typically, a 10% decrease in vehicle weight can
summon an 8.0% enhancement in fuel economy.
In the medicinal
industry, MRI has been utilized in medicinal analysis and treatment of soft
tissue visualization. However, procedures that need catheterization in MRI
utilize X-ray to direct the catheter because of metal catheter components,
which are unsuited with MRI. Such X-ray procedures expose patients and
clinicians to ionizing radiation. To decrease the radiation impact, properties
of LCPs such as autoclaving and high tensile forte are effective and will be
capable of substituting catheter metal components.