Liquid Crystal Polymer Films and Laminates Market

The global liquid crystal polymer films and laminates market was valued at USD 115,912.0 thousand in 2017 and is expected to register a CAGR of 5.85% to reach around USD 162,116.7 thousand by the end of 2023. In terms of volume, the global market was sized at 7,471.7 tons in 2017 and is expected to register a CAGR of 4.97% to reach 9,942.3 tons by the end of 2023. The increasing demand for LCP films and laminates in the electrical and electronics industry is expected to be a major factor driving the growth of the global liquid crystal polymer films and laminates market. The expanding automotive and transportation industry is also expected to drive the growth of the global market during the forecast period. Widening application scope of LCP films and laminates is expected to create new growth opportunities for the players operating in the global liquid crystal polymer films and laminates market. However, the high cost and low weld properties of LCP are projected to hinder the growth of the global market during the forecast period. Difficulty in metal adhesion during the formation of laminates is expected to be the major challenge for the players operating in the global market.

According to Wantstats analysis, the global liquid crystal polymer films and laminates market has been segmented based on type, applications, and region. Based on type, the market has been segmented into LCP films and LCP laminates. The LCP films segment accounted for the largest share of 66.3% in 2017 due to their largescale use independently as well as to form laminates. The segment was valued at USD 76,822.5 thousand in 2017; it is expected to grow at a CAGR of 6.27% to reach USD 110,072.7 thousand by the end of 2023. In terms of volume, the segment was sized at 5,084.8 tons in 2017 and is projected to grow at a CAGR of 5.37% to reach 6,924.1 tons by the end of 2023.

By application, the global liquid crystal polymer films and laminates market has been classified into electrical and electronics automotive and transportation, packaging, medical devices, and others. The electrical and electronics segment accounted for the largest share of 74.7% in 2017 due to the growing trend of miniaturized electronics products. The segment was valued at USD 86,608.6 thousand in 2017; it is expected to grow at a CAGR of 6.21% to reach USD 123,655.0 thousand by the end of 2023. In terms of volume, the segment was sized at 5,564.8 tons in 2017 and is projected to grow at a CAGR of 5.35% to reach 7,568.2 tons by the end of 2023.

Asia–Pacific held the largest market share of 57.1% in 2017 due to the rapid industrialization in the region. The regional market was valued at USD 66,205.1 thousand in 2017 and is expected to grow at a CAGR of 6.06% to reach USD 93,717.5 thousand by the end of 2023. In terms of volume, the regional market was sized at 4,357.4 tons in 2017 and is projected to grow at a CAGR of 5.19% to reach 5,871.3 tons by the end of 2023.