NEW YORK, Aug. 2, 2017 /PRNewswire/ -- Use this report to:
- Analyze new markets and identifying areas of potential expansion for various applications of LCPs and market dynamics of each application.
- Determine key trends related to the technologies, applications and integration that shape and influence the LCP market.
Read the full report: http://www.reportlinker.com/p04806924/Liquid-Crystal-Polymers-Global-Markets.html
- Explore the drivers, restraints and opportunities and innovation in the LCP market.
- Discuss the major stakeholders and the competitive landscape for market leaders and manufacturers and suppliers of LCP, as well as growth strategies and patent positions.
Highlights
- The global market for liquid crystal polymer (LCP) should reach over $1.5 billion by 2021 from $1.2 billion in 2016 at a compound annual growth rate (CAGR) of 5.1%, from 2016 to 2021.
- The semiconductor/electronics segment of the LCP is the largest market. The market is expected to grow from $806.7 million in 2016 to $1.0 billion in 2021 at a CAGR of 4.9% for the period 2016-2021.
- The additives application of the global LCP market is expected to grow from $75.9 million in 2016 to about $102.1 million in 2021 at a CAGR of 6.1% for the period 2016-2021.
Introduction & Scope
INTRODUCTION
Liquid crystals polymers are crystalline aromatic polyesters developed on the basis of structural units such as p-hydroxybenzoic acid and related monomers. The chemical structure and morphology of liquid crystal polymers differ significantly from most polyester polymers. LCPs exhibit a highly ordered structure in both the melt and solid states. LCPs offer unique benefits such as chemical resistance, fire resistance, weathering resistance and high temperature resistance, among others. Because of these unique features, LCPs can be used as a substitute or in addition with metals, ceramics, composites and plastics. In the medical equipment manufacturing sector, LCP components (such as monofilament fiber) are used as catheter reinforcement braiding as a substitute for steel and other metals. For example, Zeus Corp. has started offering LCP-based monofilament fibers as a substitute for stainless steel wires in catheter braiding.
In terms of revenue, the global LCPs market was valued at $1.1 billion in 2015 and is expected to increase to $1.5 billion by 2021 at a CAGR of 5.1% through 2021. In terms of volume, the global LCPs market was valued at 84.6 kilotons in 2015 and is expected to increase to 116.0 kilotons by 2021 at a CAGR of 5.4% through 2021. The liquid crystal polymer market has been divided in terms of forms such as compounds and fibers, sheets and films. LCP compounds are mostly used in the semiconductor/electronics industries. Fibers, sheets and films made of LCP are used in some applications in the automotive, aerospace/defense, electronics and medical industries. In terms of revenue and volume, compounds accounted for a 64.6% and 67.1% share of the LCPs market, respectively, in 2015.
In terms of brands, the LCPs market is divided into Laperos LCP, Vectra/Zenite, Xydar, Sumikasuper and others. Both Laperos LCP and Sumikasuper have broad applications in the Asian semiconductor/electronics markets. Sumikasuper, offered by Sumitomo Chemical, mainly targets semiconductor foundries, electronics manufacturers and assemblers. In terms of revenue and volume, Laperos LCP accounted for a 22.2% and 24.7% share of the LCPs market, respectively, in 2015. The LCPs market has been divided into the following applications: semiconductor and electronics components, additives, coatings additives, composites additives and components and others. LCP-based laminates have non-semiconductor/electronics
applications in the consumer goods, healthcare and construction industries. In addition, these are used in lamination of various types of sensors such as chemical, environmental, biological and temperature sensors. Due to physical characteristics, semiconductor and electronics manufacturers opt for LCP products, and applications such as coatings and additives are gaining prominence among end users in Europe and North America. In terms of revenue and volume, semiconductor/electronics components accounted for 67.6% and 63.1% share of the LCP market, respectively in 2015. This report covers North America, Europe, Asia Pacific and Rest of the World (ROW). The present market size, as well as the forecast up to 2021, has been provided in this report.
STUDY GOALS AND OBJECTIVES
This report is an impact analysis of the LCP market. The information in this report includes factors currently driving and restraining the growth of the market, as well as factors impacting the future of the industry. The goals and objectives include:
- Exploration of drivers, restraints and opportunities and innovation in the LCP market. The objective of this study also includes the identification of major regions and countries that will drive the future global growth.
- Analysis of applications for LCPs and market dynamics of each application.
- Identification of future applications for segments with high growth potential.
- Key trends related to the technologies, applications and integration that shape and influence the market.
- Region-specific developments in the industry.
- Overview of major stakeholders and the competitive landscape for market leaders.
- Analysis of growth strategies by key player.
- Analysis of patent positions where relevant.
REASONS FOR DOING THE STUDY
With the rise of semiconductor/electronics sectors, the demand for components used in the production of different electronics devices has increased. In developed countries, commercial applications of LCP products started less than 35 years ago and the market is still in its development phase. Due to the dispersed nature of global production, overall knowledge among stakeholders regarding the dynamics of the LCP market is limited. For example, as of October 2016, apart from semiconductors and electronics, applications of LCPs in other sectors are very limited and most stakeholders face challenges in understanding the potential of nontraditional applications of LCPs. In such context, in order to fill the knowledge gap and provide clear insights regarding potential LCP applications, a detailed market study is required.
Moreover, important stakeholders in the value chain are taking great interest in LCPs due to many factors such as the growing demand for LCPs in the semiconductor, electronics and other industries; an increase in R&D to develop new varieties of LCPs; and a focus on Asian producers that can achieve low-cost product innovations. Owing to this supply and demand as well as industry-specific factors, the LCP market is estimated to have significant potential and is expected to experience stable growth during the forecast period.
SCOPE OF THE REPORT
The scope of the study is intended to explore the current and future market trends for LCPs. Understanding market trends for supplies of LCPs and the determination of future growth is also part of the scope of the study. Furthermore, assessing and analyzing the product lifecycle of LCPs is also included under the purview of this study. Forms of LCPs examined include compounds, fibers, sheets and films; no other forms of LCPs are considered under the scope of this report. Brands' studies include Laperos LCP, Vectra/Zenite, Xydar, Sumikasuper and others (brands offered by other LCP manufacturers). Applications detailed in this report include: LCPs in semiconductor/electronics components, additives, coatings, composites and components (LCP-based filaments, fibers and films with applications in non-semiconductor and electronics industries), and others (LCP-based laminates with applications in non-semiconductor/electronics industries including consumer goods, healthcare and construction).
From an end user perspective, LCPs used in the semiconductor/electronics, automotive, consumer goods, aerospace/defense and healthcare industries, as well as heavy industry and non-commercial sectors, have been considered in this report. Estimated values are based on manufacturers' total revenues. When calculating volume metric, metric tons are used as base units. Therefore, volume is presented in kilotons (metric) with one kiloton equivalent to 1,000,000 kg.
RESEARCH METHODOLOGY
For this research report, we have done rigorous primary as well as secondary research in order to track the market in an accurate manner. Key data estimation techniques such as top-down and bottom-up models were developed to determine volume as well as value-wise trends and estimation for the global LCP market. Key players in the LCP market have been identified through a review of secondary sources such as industry whitepapers, annual reports, published reports by credible agencies, financial reports and published interviews with key opinion leaders (KOLs) from leading companies. During primary interviews, KOLs suggested other LCP producers that had not been included under the initial scope of the study. We have further refined company profile sections by adding suggested producers of LCPs by KOLs. Generally, KOLs include CEOs, general managers, vice presidents, sales directors, market executives, R&D
directors, product managers, procurement managers, export managers, etc. During the research process, all major stakeholders across the LCP value chain were contacted for primary interviews.
Read the full report: http://www.reportlinker.com/p04806924/Liquid-Crystal-Polymers-Global-Markets.html
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