The liquid crystal polymer (LCP) Films and laminates market is witnessing massive traction on a global level. Widespread applications of LCP materials are a key driving force behind the growth of the market. LCP films & laminates are extensively consumed in industries such as electrical & electronics, automotive & transportation, packaging, medical devices, and other industries.
However, the electrical and electronics industry is the largest consumer of LCP films, due to their excellent electrical & mechanical properties such as low dielectric constant, high moisture barriers, controllable thermal coefficient of expansion, and high-frequency & non-halogen flame-retardant characteristics. Due to their excellent dielectric and low moisture absorption properties of LCP films are suitable for a multilayer stack up process.
The demand for the Printed Circuit Board (PCB) is rising continually due to the high-speed transmission devices required in smartphones, automotive, and electronic devices. LCP films are used in the manufacturing of flexible circuits, whereas LCP laminates are used in the production of rigid printed PCB. The market needs of high-frequency PCB material, which is expected to grow with 5G technologies, push the growth of the market.
Market Research Future (MRFR) releases a statement saying the global liquid crystal polymer films (LCP) and laminates market size is projected to grow at a 5.85% CAGR during the forecast period (2022 – 2030). Also, in its recent industry analysis, MRFR states that the valuation of LCP films & laminates market would climb up to USD 162,116.7 MN by 2030.
The increasing demand for LCP films & laminates in the burgeoning automotive and electrical & electronics industry fosters the market growth, predominantly. Besides, the widening scope of LCP films & laminates applications is estimated to create new growth opportunities for market players. On the other hand, the high cost and low-weld properties of LCP are anticipated to act as a growth impeding factor for the market growth during the forecast period.
Also, the intricacy in metal adhesion during the formation of laminates acts as a major challenge for the manufacturers. To meet the market needs for 5G high-speed communication, crystal polymer films (LCP) and laminates, market manufacturers are continuously trying to increase their production capacity.
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Liquid Crystal Polymer Films & Laminates Market – Segmentation
MRFR has segmented the report into three market dynamics to widen the scope of understanding,
By Type :LCP Films and LCP Laminates.
By Application :Electrical & Electronics, Automotive & Transportation, Packaging, Medical Devices, and others.
By Regions :Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World
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Global LCP Films and Laminates Market – Regional Analysis
The Asia Pacific region dominates the global liquid crystal polymer films and laminates market. Driven by the rapid industrialization, the region held 57.1% market share in 2017, garnering enormous demand from end-user industries. Increasing demand from the packaging industry, particularly in India, Taiwan, and South Korea, has made Asia Pacific the largest consumer of the LCP materials for film & lamination purposes.
Besides, some of the burgeoning sectors in the region, such as electrical & electronics and automotive & transportation, foster market growth, consuming a considerable amount of LCP materials. In 2017, the APAC LCP films & laminates market had valued at USD 66,205.1 MN in 2017, which is expected to rise to USD 93,717.5 by 2023, growing at 6.06% CAGR throughout the review period (2018-2023)
Europe and North America are equally strong markets for liquid crystal polymer (LCP) films & laminates. Increasing consumption of LCP materials in various applications, including packaging, pharmaceutical, electrical, and others, drive huge growth in these markets. Moreover, well established automotive sectors in these regions foster the liquid crystal polymer films (LCP), and laminates use. Furthermore, the flourishing medical devices industry, especially in Germany, accounts for large consumption of LCP materials.
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Liquid Crystal Polymer Films and Laminates Market – Competitive Analysis
The LCP films and laminates market appears highly fragmented and competitive due to the presence of several big and small players. Though large companies have great geographical proximity, the entry of several new companies will pose stiff competition for them. Emphasizing upon new product development initiatives, and geographic expansion, liquid crystal polymer (LCP) Films and laminates market manufacturers incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology launch.
Major Players:
Players leading the global LCP films and laminates market include Polyplastics Co. Ltd., Solvay SA, Celanese Corporation, Asia International Enterprise (HK) Limited, Rogers Corporation, RTP Company, Sumitomo Chemical Company, Kuraray Co. Ltd, PolyOne Corporation, and Shanghai PRET Composites Co., Ltd, among others.
Industry/Innovation/Related News:
November 20, 2019 — Constantia Flexibles (Austria), a leading global flexible packaging manufacturer, announced the opening of its new Constantia Ecoflex plant in Ahmadabad (India). The state-of-the-art technology produces the new EcoLam packaging solutions for high-barrier laminates recyclable to new packaging films. This single polymer PE laminate is the first high-barrier flexible packaging that can combine the resource-efficiency of plastic recyclability back into new packaging films.
With this Ecoflex Ahmadabad plant, Constantia is making a big step towards more sustainable packaging, which is not only great progress in sustainability for Constantia Flexibles but the entire packaging industry also.
June 04, 2019 —- Kuraray Co., Ltd. (Japan) installed new pre-production equipment to boost the production capacities for its Flexible Copper Clad Laminates (FCCL) “Vecstar™” in its Kashima Plant. These FCCLs laminates are made of LCP film Vecstar™ and copper foil. Kuraray has started the sampling introduction, as well. The company has already completed the capacity expansion of LCP film Vecstar™ in its Saijo Plant. With new equipment installed, total production capacity combining both plants is expected to boost to 1.8 MN/Sq.Mtr. per year in 2nd half of CY2020.
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