The liquid crystal polymer films and laminates market is estimated to be valued at USD 115,912.0 thousand in 2017 and expected to exhibit a CAGR of 4.26% during the forecast period.
The increasing application of LCP films & laminates in the electrical and electronics industry and the expanding automotive and transportation industry are factors expected to fuel the growth of the global market during the forecast period. However, low weld properties and the high cost of LCP are projected to restrain the growth of the global market in the near future. Nevertheless, widening application scope of LCP films and laminates such as in packaging and medical devices is expected to create lucrative opportunities for the players in the global during the review period.
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The global liquid crystal polymer films and laminates market has been categorized based on type, application, and region. On the basis of type, the global market has been divided into LCP films and LCP laminates. The LCP films segment accounted for largest market share of 66.3% in 2017. The segment is expected to register a CAGR of 6.27% to reach USD 1,10,072.7 million by 2023. The use of LCP films as an alternative for traditional polyimide films for use as a substrate in the manufacturing of flexible circuits is expected to increase its demand in the coming years.
Based on applications, the global market has been segmented into electrical and electronics, automotive and transportation, packaging, medical devices, and others. The electrical and electronics segment was valued USD 86,608.6 thousand in 2017. The segment is expected to register a CAGR of 6.21% during the forecast period. The increasing demand for LCP films and laminates in the manufacturing of flexible and rigid PCBs is expected to drive the growth of the electrical and electronics segment in the near future. The automotive & transport segment accounted for the second-largest market share in 2018, the segment is expected to exhibit a CAGR of 4.80% during the review period. LCP films are used as a barrier layer in blow–molded automotive gas tanks. Additionally, LCP films are one of the best substrates for fabricating flexible antenna in automobiles, which is expected to boost its demand in the automotive & transport segment.
Geographically, the global liquid crystal polymer films and laminates market is segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest share of the global market in 2018 and is expected to register a CAGR of 6.06% during the forecast period. The Asia-Pacific market is followed by North America, which accounted for the second-largest share of the global Liquid crystal polymer films and laminates market in 2018. North America is estimated to reach USD 33,980.1 thousand by the end of 2023.
The Latin American and the Middle East & African markets are expected to witness considerable growth during the forecast period, 2018–2023.
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Key Findings of the Study:
- The global liquid crystal polymer films and laminates market was valued at USD 115,912.0 thousand in 2017 and is projected to register a CAGR of 5.85%.
- Based on type, the LCD films segment held the largest share of 66.3% in 2017. The segment is expected to exhibit a CAGR of 6.27% to reach USD 110,072.7 thousand.
- By application, the electrical and electronics is estimated to be the largest segment of the global liquid crystal polymer films and laminates market the segment is expected to register a CAGR of 6.21% to reach USD 123,655.0 thousand by the end of 2023.
- Asia-Pacific accounted for the largest market share of 57.1% in 2017.