Market Overview
The Global Liquid Crystal Polymer Films and Laminates Market is expected to reach a market value of
USD 167.0 billion in 2023, and it is further projected to reach a market value of
USD 328.0 billion by 2032 at a
CAGR of 7.8%.
The global liquid crystal polymer films & laminate market refers to the industry that is engaged in the production of liquid crystal polymer film and laminates with various distinct properties. Liquid crystal polymer films are a type of advanced engineering
plastic that is highly used for their distinct properties like high-temperature resistance, chemical resistance, and excellent electrical insulating properties, which makes the liquid crystal polymer films & laminates an essential part of various major industries like automotive,
medical, aerospace, and consumer goods.
The market dynamics of the global liquid crystal polymer films and laminates Market can be influenced by various factors that impact the growth, supply, & demand of this market. The ongoing technological research and development of the new liquid crystal formula drives the growth of this market.
The growth of this market is also affected by the demand for liquid crystal polymer films and laminates in major industries like electronics, automotive, aerospace, & medical devices. This market faces various rules and regulations & safety standards for the production & handling of liquid crystal polymers, which deeply affect this market.
In some countries polymers are considered harmful, in such cases this market follows a set protocol which is important for liquid crystal polymer film, and laminate manufacturers as it majorly affects the growth of this market.
Research Scope and Analysis
By Product
Liquid Crystal Polymer Films dominate this segment for several key reasons as they hold 68.9% of the market share in 2023 and are anticipated to show subsequent growth in the upcoming period as well. The liquid crystal polymer films are popular as it is exceptionally thin and have lightweight properties, which are useful in many applications where weight reduction and miniaturization are essential, like automotive and consumer electronics.
The thinness of these films allows them to attain a precise and compact design, making them ideal for the construction of circuit boards.
Moreover, the films show outstanding electrical insulating properties and resistance to high temperatures.
These characteristics make them an ideal and reliable choice for electronic components that operate in demanding environments, ensuring signal stability and durability. As these have excellent dimensional stability and low moisture absorption it is used in the manufacturing of high-frequency electronics.
The versatile nature of films in terms of surface finishes and compatibility with various printing processes make them a preferred choice for circuitry applications. So, in other words, the dominance of the liquid crystal polymer films in this segment can be credited to its combination of unique properties making it irreplaceable in major industries.
By Application
In terms of application, the electronics and electrical sectors dominate this market as they hold 64.2% of the market share in 2023 and are projected to show significant growth in the upcoming years as well. The reason this sector dominates this market is because this industry heavily relies on miniaturization and high-quality materials to meet the growing demand for the production of smaller and more durable devices.
Liquid crystal polymer films are a natural fit for their application on flexible circuit boards, connectors, and antennas as they offer excellent thinness, lightweight nature, and electrical insulating properties.
Additionally, liquid crystal polymer films have higher resistance to temperature and moisture which ensures the long-term durability of electronic devices. As the high-speed internet and developments in consumer electronics are advancing, it positively drives the demand for liquid crystal polymer films as these applications require material that can support high-frequency operations.
Overall, this sector dominates this market due to the critical role of liquid crystal polymer film and laminates in this sector as they offer new growth prospects to the ever-evolving demands for smaller, more efficient, and high-performance electronic devices.
The Liquid Crystal Polymer Films and Laminate Market Report is segmented on the basis of the following:
By Product
By Application
- Electrical & Electronics
- Packaging
- Automotive
- Medical Devices
- Others
Regional Analysis
Asia Pacific asserts its dominance in the global liquid crystal polymer films and laminate market as it yields a share of over 51.5% in terms of revenue in 2023 and is expected to show promising growth in the forthcoming period as well. This region harbours a well-grown ecosystem of electronics and electric markets with many major manufacturing companies.
Asia is the home of the vastest and fastest-growing consumer electronics market that produces, smartphones, tablets, laptops, and smart wearables which leads to a higher demand for liquid crystal polymer films and laminates that are essential components in the electronic manufacturing process.
Additionally, this region is not only home to many major manufacturers but it also acts as a hub for research on material science and technology.
This region fosters innovation in the liquid crystal polymer films industry, leading to the development of new and improved formulations and products that will cater to the evolving industry needs. Also, many Asian governments have been actively supporting these electronic industries, by providing them incentives and infrastructure to attract investment and foster innovation, which further boosts the growth of this market in the Asian countries.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The competitive landscape of the liquid crystal polymer films and laminate market is marked by intense competition among the major players vying for market share and seeking to get a competitive edge over others. Major key players in this market like Polyplastic Co. Ltd, Solvay S.A., Sumitomo Chemical Company Limited and Teijin Limited are at the forefront of this highly dynamic market.
This market is experiencing consolidation, with a few key players shaping the industry landscape.
These companies utilize inorganic & organic strategies for their market expansion. The inorganic strategies include the development of new product catalogs and innovation while the organic strategies deal with partnerships, mergers & acquisitions.
Furthermore, these mergers & partnerships further boost their market position and pave the way for the expansion of the market conditions. This market many key players who hold a significant portion of the market are Murata Manufacturing Co. Ltd., Azotek Co. Ltd., Panasonic Corp., Furukawa Electric Co. Ltd., Rogers Corp., Kuraray Co. Ltd., Chiyoda Integre Co. Ltd., KGK Chemical Corp, iQLP, and others.
Some of the prominent players in the Global Liquid Crystal Polymer Films and Laminates Market are:
- Celanese Corporation
- KGK Chemical Corporation
- Murata Manufacturing Co. Ltd.
- Azotek Co. Ltd.
- Panasonic Corp.
- Furukawa Electric Co. Ltd.
- Rogers Corp.
- Kuraray Co. Ltd.
- Chiyoda Integre Co. Ltd.
- KGK Chemical Corp
- iQLP
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Liquid Crystal Polymer Films and Laminates Market:
The COVID-19 pandemic and the economic recession significantly affected the global liquid crystal polymer films and laminates market due to various reasons. During the initial phase of the COVID-19 pandemic impacted the global supply chain of this market, which led to the temporary closure of shipyards and shipping facilities that caused delays in the delivery of raw materials. This market faced a shortage of raw materials that led to fluctuation in prices and demand.
Another of the major factors that affected the growth of this market will be the supply chain disruption the electronics & electric industry which is a major consumer of the liquid crystal polymer films and laminates market experienced significant growth during this period which also positively influenced the growth of this market. However, the pandemic also showed few positive effects in this market due to the rise in demand for eco-friendly products positively, which increased the demand for liquid crystal polymer films.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 167.0 Bn |
| Forecast Value (2032) |
USD 328.0 Bn |
| CAGR (2023-2032) |
7.8% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Films, Laminate), By Application
(Electrical & Electronics, Packaging, Automotive,
Medical Devices and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Celanese Corporation, KGK Chemical Corporation,
Murata Manufacturing Co. Ltd., Azotek Co. Ltd.,
Panasonic Corp., Furukawa Electric Co. Ltd., Rogers
Corp., Kuraray Co. Ltd., Chiyoda Integre Co. Ltd., KGK
Chemical Corp, iQLP, and Other Key Players. |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Liquid Crystal Polymer Films and Laminates Market is expected to reach a market value of USD 167.0 billion in 2023.
What is the Global Liquid Crystal Polymer Films and Laminates Market?
The major key players in the Global Liquid Crystal Polymer Films and Laminates Market, Murata Manufacturing Co. Ltd., Azotek Co. Ltd., Panasonic Corp., Furukawa Electric Co. Ltd., Rogers Corp., Kuraray Co. Ltd., Chiyoda Integre Co. Ltd., KGK Chemical Corp, iQLP, and others.
Asia-Pacific dominates the Global Liquid Crystal Polymer Films and Laminates Market as it holds 51.5% of the market share in 2023 and is anticipated to show subsequent growth in the upcoming years as well.