Newark, NJ, Nov. 12, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global liquid crystal polymer films & laminates market is expected to grow from USD 1.9 billion in 2020 and reach USD 3.03 billion by 2028, growing at a CAGR of 6% during the forecast period 2021-2028.
In key end-use sectors such as automotive, packaging, and electronics, there is a rising desire for lightweight and sustainable materials. High-performance, long-lasting films and laminates with eco-friendly properties, low maintenance costs, and enhanced performance characteristics like low coefficient of thermal expansion, high modulus strength, minimal moisture absorption, high abrasion resistance, and excellent flexibility have been made possible by technological advancements. Furthermore, the widespread use of these polymers in the construction and building industries has aided the development of electrically-controlled "smart windows," which are in line with the current "green building" trend. These windows can change from opaque to transparent at the press of a button, providing for energy savings, visibility, and natural light depending on the needs of the consumer.
The liquid crystal polymer is a kind of crystalline aromatic polyester that is made mostly from resins. Liquid crystal polymers can be found in both solid and liquid forms. The liquid form has an advantage over the solid because it can be molded above the melting point at high temperatures. Laminating film is made up of an adhesive-coated base film, such as polyester or PVC. Thermal heat or high pressure can be used to activate adhesives. This coated film is wrapped around a cardboard core and inserted into a roll laminator. LCP also has good mechanical properties at high temperatures, good chemical resistance, intrinsic flame retardancy, and intrinsic flame retardancy virtuous climatic capabilities, all of which have a wide range of applications in the expanding end-user industry.
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Furthermore, the widespread usage of these polymers in the construction and building sectors has facilitated the creation of electrically controlled "smart windows," which follow the current "green building" trend. At the touch of a button, these windows may transform from opaque to transparent, allowing for energy savings, visibility, and natural light, depending on the demands of the user. These films and laminates are commonly used in flexible Printed Circuit Boards (PCBs), 3D printed electronics, and tight packaging applications due to properties such as high elasticity, chemical, moisture, and scratch resistance, and dielectric strength. Due to a restricted number of biPellets or granules of thermoplastic LCP resins are a common raw material used in the production of LCP films and laminates. Benzoic acid and p-Hydroxy naphthoic acid are two more important raw ingredients used in the manufacturing process. Laminates require a metal foil substrate, which is often a copper sheet. As a result, industrial trends are influenced by copper and metal prices.
Key players operating in global liquid crystal polymer films & laminates market include S Celanese Corporation, Sumitomo Chemical Company, Polyplastics Co, Toray International, Kuraray America Inc, Zeus Industrial Products, TCI Chemicals C, Ueno Fine Chemicals Industry Ltd. PolyOne Corp, Rogers Corp, RTP Co, Panasonic, WOTE Advanced Material, Murata Manufacturing, Seyang Polymer, Solvay, DZT and Toray Group. To gain a significant market share in the global Liquid Crystal Polymer films & laminates market, the key players are now focusing on adopting strategies such as mergers & acquisitions, recent developments, collaborations, joint-venture, product innovations, and partnership. Toray International and Solvay Group are some of the key manufacturers operating in liquid crystal polymer films & laminates market.
The films segment dominated the market and held the largest market share of 33.9% in the year 2020
Based on product, the global liquid crystal polymer films & laminates market is segmented into films and laminates. The films segment dominated the market and held the largest market share of 33.9% in the year 2020. The product's inherent features, such as low coefficient of thermal expansion, low moisture absorption, high tensile strength, and abrasion resistance, are projected to boost demand in a variety of end-use sectors. Other major qualities increasing demand for LCP films, notably in the automotive sector, include heat and corrosion resistance.
Electrical & electronics segment dominated the market and held the largest market share of 27.8% in the year 2020
Based on application, the global liquid crystal polymer films & laminates market is segmented into Electrical & Electronics, Automotive, Packaging, Medical, Consumer Goods, and Others. Electrical & electronics segment dominated the market and held the largest market share of 27.8% in the year 2020. This growth is because of the polymer's ion-free polycondensation manufacturing method, these films are preferable in electrical application. Consumer products and other uses, such as protective apparel, plastic disposables, and industrial waste bags, use LCP laminates. Thinner laminates are expected to be in high demand in flexible electronics, particularly for high-frequency applications, since they avoid undesirable wave propagation interruptions.
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Regional Segment of Liquid Crystal Polymer Films & Laminates Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global liquid crystal polymer films & laminates market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. APAC region held the largest market share of 48% in the year 2020. This growth is ascertained due to the area is being driven by rising consumer discretionary income levels and changing lifestyles. Furthermore, shifting consumer tastes as a result of the region's superior telecommunication technologies and IT infrastructure are expected to drive product demand even higher. From 2021 to 2028, the overall market volume in North America is expected to grow at a CAGR of 6.56 percent. Growing health concerns and the incidence of chronic and lifestyle-related disorders have led in a surge in the number of healthcare facilities in industrialized nations like as the United States and Canada, which is expected to boost demand for LCP films in medical devices.
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About the report:
The global liquid crystal polymer films & laminates market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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