LCP Market Outlook

LCP Market Outlook

The global LCP demand in 2017 was estimated to be around 35,169 tons. Global demand is expected to grow to nearly 49,051 tons by 2025, at a growth rate of 4.2%.

Global LCP Demand, By End Use, 2017

Global LCP Demand, By End Use, 2017 (35,169 tons Kilo tons)

Global demand for LCP is driven in large part by the development of the electrical & electronics industry and to a smaller degree by the medical, automotive and consumer electronics. Of the 33817 tons of LCP consumed in 2016, about 73% were used in the electrical &electronics.

It is expected to remain the largest end-use industry for LCP globally, with a growth rate of around 4.2% in the long-term forecast till 2025. The industrial sector accounts for 7.1% of the global demand and is expected to grow at a rate of 3.6% by 2025. Consumer electronics account for about 7% of the total global demand and is estimated to grow at rate of 4.8%. Automotive sector makes up around 6.3% of the global demand for LCP.

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 79% of LCP demand and is likely to increase its market share to around 82% till 2025 to reach about 40210 tons. The demand in Asia-Pacific is 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.

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