Liquid Crystal Polymer Film (LCP) Laminates Market – Growth, Trends, Impact of COVID-19, and Forecast (2021



The global liquid crystal polymer film (LCP) laminates market is valued at 7,470 metric tons in 2020, and is expected to register a CAGR of over 5.5% during the forecast period 2021-2026.

New York, November 03, 2021 (GLOBE NEWSWIRE) – announces the publication of the report “Liquid Crystal Laminate Film (LCP) Market – Growth, Trends, Impact of COVID-19 and Forecast (2021 – 2026))” –

COVID-19 has had a negative effect on the global economy, further disrupting industrial investment and production. In addition, the virus has hit parts of Asia, North America, Europe and the Middle East very hard. Some states or regions were under full lockdown for a specified period. Most factories operated with minimal staff or even closed temporarily. For example, according to OICA data, global automobile production declined significantly in 2020 due to the pandemic, registering growth down 16% in 2020. Compared to the past two years, the world’s top 20 automobile manufacturers experienced negative growth and recorded losses. of approximately USD 100 billion in 2020. As a result, radars, sensors and other components manufactured by LCP and demand for LCP films and laminates have experienced negative growth during this period.

– In the medium term, the main driver of the studied market is the growing demand for the miniaturization of electrical and electronic components.
– On the other hand, the slowdown in the auto industry and the unfavorable conditions due to the COVID-19 epidemic are hampering the growth of the market.
– Electronics segment is expected to dominate the application segment of the global liquid crystal polymer film laminates market because it offers excellent mechanical and electrical properties such as low dielectric constant, high moisture barriers and a high frequency, among others.
– Asia-Pacific region represents the largest market and is also expected to be the fastest growing market during the forecast period due to the consumption of countries such as China, South Korea, India and Japan.

Key market trends

Electronics segment is expected to dominate the market

– LCP films and laminates have widened the scope of application in the electronics industry. LCP films offer excellent electrical and mechanical properties such as low dielectric constant, high moisture barriers, controllable coefficient of thermal expansion, high frequency properties and halogen free flame retardant characteristics.
– The excellent macroscopic properties of LCP material are determined by its unique molecular structure. LCP is a fully aromatic liquid crystal polyester polymer with a rigid polymer chain structure. Due to the uniqueness of the molecular structure, it has good vibration absorption characteristics, low dielectric properties, self-strengthening effect, good chemical and heat resistance, low melt viscosity, low linear expansion rate, low mold shrinkage rate and excellent quenching. LCP also has low moisture absorption and high dielectric performance, making it an ideal candidate material for flexible printed circuit boards (FPCs), antenna substrates, and packages.
– As the demand for Internet of Things (IoT) products, 5G cellular networks, and video streaming services grows, the ability to transfer much larger volumes of data through wired and wireless devices typically much smaller at much higher bitrates becomes more crucial and complex. As a result, all components used in electronic interconnects are carefully inspected to minimize signal loss / decay, distortion, and interference. In order to improve the performance of high speed connectors and other electronic and electrical components, manufacturers have started to use high performance liquid crystal polymers (LCP).
– Faster processing rates and greater circuit density with a lower profile, thinner connectors have made thermal management a more concern, resulting in higher thermal requirements for interconnect materials. To counter these problems, electrical and electronics manufacturers began to use polymers with lower dielectric constant, such as LCP films and laminates.
– Even the smallest electronic equipment, such as a cell phone or laptop, requires high speed signal transmission over GHz. Due to its exceptional electrical characteristics, such as low dielectric constant, liquid crystalline polymer (LCP) film is gaining much interest in the lamination of printed circuit boards for electronic packaging.
– Global production of electronics products recovered rapidly as the global economy and major consumer markets gradually emerged from a severe economic depression in the first half of 2020. This recovery is reflected in product export data electronics from China, which rose sharply in November 2020, climbing 24.8% year-on-year. year due to the high Christmas demand for consumer electronics in major international markets including the United States and the European Union.
– Rising global demand for personal computers (PCs) has mitigated the pandemic’s negative impact on consumer electronics consumption, which remained stable in 2020 at $ 1.02 trillion. According to Statista, global consumer electronics revenues are expected to grow 3.6% year-over-year (YoY) to reach $ 1.06 trillion in 2021. Despite a boom in demand for PCs due to remote working and distance learning, IT segment revenue is expected to grow only 1.8%, reaching $ 280 billion in 2021.
– Therefore, with the growth of the electronics industry, the demand for liquid crystalline polymer film laminates is likely to increase in the coming years.

China will dominate the Asia-Pacific region

– Asia-Pacific is expected to experience the highest CAGR during the period due to the rapid expansion and consumption of the electronics and automotive industry in countries like China, South Korea, Japan and India.
– China is the world’s largest electronics production base and offers fierce competition to existing upstream producers, such as South Korea, Singapore and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, among others, are experiencing the highest growth rates in the consumer electronics segment of the market, in terms of demand.
– With the increase in disposable income of the middle class population, the demand for electronic products is expected to increase steadily in the future, thereby boosting the growth of the market.
– China is the largest user and producer of smartphones. In January and February 2021, it produced 208.59 million cell phones. It had approximately 935.24 million smartphone users in 2020 and is expected to reach 1.14 billion smartphone users by 2025. Revenue from the consumer electronics segment is expected to reach $ 162,038 million in 2021.
– Revenue is expected to show an annual growth rate of 2.04%, resulting in a projected market volume of USD 175,670 million by 2025. In addition, in June 2021, total retail sales of goods consumption in China increased by about 12.1%, compared to the same period of the previous year. The total value of retail sales of consumer goods amounted to CNY 3.76 trillion during this period.
– The Chinese automobile industry is the largest in the world. The “Made in China 2025” initiative is expected to support the upgrade of existing low-cost mass production to higher value-added advanced manufacturing.
– According to the China Association of Automobile Manufacturers (CAAM), auto production declined by around 2% in 2020. The country produced 25,225,242 units in 2020, up from 25,750,650 units in 2019. However, in the first half of the year 2021, production reached 12,569,475, up 24% from H1 2020.
– China’s healthcare industry is the second-largest industry in the world after the United States, and reported sales of US $ 1.1 trillion in 2019. China is expected to hold 25% of the Global share of healthcare industry revenue by 2030. This is expected to increase demand for liquid crystal polymer film laminates in medical applications.
– Due to the above factors, demand for LCP films and laminates is expected to increase in the region during the forecast period.

Competitive landscape

The global liquid crystal polymer film (LCP) laminates market is partially consolidated by nature with a few major players dominating a significant portion of the market. Some of the major companies are Polyplastics Co., Ltd., Celanese Corporation, Sumitomo Chemical Company, Solvay and KURARAY CO., LTD. and among others.

Additional benefits:

– The market estimate sheet (ME) in Excel format
– 3 months of analyst support
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