For the production of consumer electronic devices, such as smartphones, light-emitting diode (LED) televisions, microwaves, computers, and smart watches, high-volume of liquid crystal polymers (LCPs) is used, on account of their electrical and mechanical properties. Due to the surging penetration of these products, the liquid crystal polymer market size is expected to progress at a CAGR of 5.7% during 2018–2023. According to P&S Intelligence, the market stood at $1,037.4 million in 2017 and it is projected to reach $1,447.9 million by 2023.
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In the coming years, these companies will increase the production of thermotropic LCPs, due to their high-volume consumption in the semiconductor and electronics industries. These LCPs are processed from anisotropic phases to liquid-crystal phases, thus, affecting the structure and orientation of these molecules. The end-polymer contains fiber content that infuses mechanical properties in the polymer, due to the self-reinforcing characteristics derived from macromolecular orientation in the mesophase. These properties make the LCPs ideal for producing several components of electronic devices.
Geographically, the Asia-Pacific liquid crystal polymer market is expected to consume the highest quantity of LCPs in the coming years. This can be ascribed to the presence of large-scale semiconductor manufacturing plants in countries, such as Japan, Taiwan, and China. Moreover, rapid expansion of the consumer electronics industry in Vietnam and India will intensify the consumption and production of LCPs in the region. Additionally, the booming automotive and power sectors in the APAC region will fuel the demand for LCPs during the forecast period.
Thus, the surging prevalence of consumer electronic products and the exceptional mechanical and electrical properties of LCPs will fuel their consumption worldwide.
Read More: https://www.psmarketresearch.com/market-analysis/liquid-crystal-polymer-market
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