Asia-Pacific Accounts for the Lion’s Share in LCP demand
Liquid Crystal Polymers (LCP) is an aromatic polyester, co-polyester or ester-amide polymer by composition. It differs from PET and PBT on account of its molecular structure. LCPs can easily improve resource efficiency on account of its superior properties. LCPs are increasingly becoming a choice of material for miniaturization as it can be easily processed and molded into tiny precision parts to integrate different functions. Ticona, then Celanese was the first company to launch a commercial operation of LCP, Vectra at Summit, NJ, in 1986.
LCP market growth is driven by substitution of LCP for other engineering thermoplastics and increasing use for Electrical& Electronics applications in China and other Asian countries and automotive applications in North America and Western Europe. It is estimated that LCP demand will improve during the forecast period, owing to the increasing demand from electrical & electronics and automotive end-use sectors in the developing economies. Growing requirement for precision parts suitable for use at high temperatures will drive the growth in electrical &electronics. The production for LCP is restricted to Japan, China and USA.South Korea has a new market player in the LCP market. Major players in LCP manufacturing are: To ray Industries, Poly plastics, Sumitomo, Ueno, Celanese Corporation and Solvay. Other manufacturers of LCP include Untika and Nippon Petrochemicals.
Global LCP Demand, By Region -2017
Asia-Pacific recorded the largest demand for LCP in 2017 on account of the spur in electrical & electronics in the region.The region accounted for almost 80% of LCP demand. The demand in Asia-Pacificis estimated to grow at a rate of 4.7%, followed by North America at 2.5% and Western Europe at 1.9% amongst the major regions for LCP consumption.
For further market information on LCP or other engineering plastic or thermoplastic elastomer you can write to email@example.com