Liquid Crystal Polymers (LCP) Market - 2019

The global LCP demand in 2016 was estimated to be around 33,817 tons. According to Prismane Consulting, global demand is expected to grow to nearly 49,051 tons by 2025, at a growth rate of 4.2%.

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 33,817 tons of LCP consumed in 2016, about 73% were used in 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 is estimated to grow at a rate of 4.8%. The automotive sector makes up around 6.3% of the global demand for LCP. LCP demands from automotive applications are likely to grow at a higher rate of 5.1% by 2025. Medical applications which constitute about 3.7% of the global LCP demand in 2016 is expected to witness a CAGR of around 3.6% during the forecast period. Other end-use sectors of LCP including aerospace are also likely to grow at a rate of 4%.In 2016, they made up about 2.9% of the global demand. 

Asia-Pacific recorded the largest demand for LCP in 2016 on account of the spur in electrical & electronics in the region. The region accounted for almost accounted for around 79% of LCP demand and is likely to increase its market share to around 82% till 2025 to reach about 40,210 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.

North America accounted for 11.6% of the total LCP demand in 2016. It is expected to slightly decline its market share to around 10% in the forecast period till 2025, with a CAGR of 2.5%. Automotive and medical applications are expected to be the fastest growing end-uses for LCP in the region. The Western European region is expected to see a decline in its LCP demand share of 8.1% in 2016 to around 6.6% in the long-term forecast till 2025 growing at a rate of 1.8% till 2025. Central & Eastern Europe accounting for 0.9% of the LCP global demand is estimated to grow at a rate of 3.2%, while South America and Middle East & Africa are expected to grow at a CAGR of 3.7% and 3.0% respectively. All three regions Central & Eastern Europe, South America and the Middle East & Africa combined together account for around 1.6% of the total LCP demand with a total consumption of around 537 tons in 2016.

Key demand drivers for LCP have been their application in electrical & electronics, industrial, consumer electronics, automotive, medical and other applications.

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