Liquid Crystal Polymer Market Size by Application (Electrical & Electronics, Automotive, Consumer Goods, Lighting, Medical)

Ocean View, DE -- (SBWire) -- 06/22/2020 --In the latest research report compiled by Global Market Insights, Inc., liquid crystal polymer market size is poised to surpass US$ 650 million by 2024.

Liquid crystal polymers are being adopted in a range of applications as these molecules are replacing materials such as metals, ceramics, composites and other plastics. LCP has become popular for having a tremendous strength at hostile temperatures and withstanding capability in weathering, chemicals, burning, and radiation.

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As LCPs offer excellent chemical resistance and high electrical resistance, they have become immensely popular in end-use applications, including automotive, electrical and electronics, medical and lighting, to name a few.
Major trends to be witnessed in 2020 and beyond

Liquid crystal polymers are being used in a myriad of applications which would not be viable with other polymers. The report estimates automotive sector to be one of the major recipients of LCPs as these molecules are known to have high strength and chemical resistance, thereby making them apt for modern high pressure fuel line connectors.

Besides, abrasion resistance properties and low weight of LCPs have strengthened the popularity of the material in automotive sector.

Stakeholders are buoyed by the fact that LCPs have electrical insulating properties and have been making tremendous semiconductor components and electrical devise housings. Owing to the tight-tolerance designs, LCPs has been expediting cycle times and boosting productivity.

Drivers that are bolstering liquid crystal polymer market growth

End-users are reaping benefits from LCPs that provide fast cycle times, low melt viscosity, very low mould shrinkage, low flammability, and tremendous barrier properties.

The attributes of LCPs such as flexibility, crystallinity, strength, and surge in the demand for high-performance and lightweight materials are expected to instill confidence among stakeholders.

Surge in the demand for miniaturization and lightweight electrical devices that are manufactured to resist high and wide ranges of temperatures will play an invaluable role in the rise of investment in LCP.

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What are the opportunities in the Liquid Crystal Polymer?

Medical sector provides opportunities abound to manufacturers of LCPs as these materials have been providing high tensile strength and stability in high temperature.

Some of the leading companies have been developing LCPs to produce a fully MRI-compatible catheter. LCPs are believed to outdo other polymer product such as nylon and polyester pertaining to shrinkage, stiffness, strength and elongation.

In medical sector, LCPs are being used as an ideal substitute for stainless steel for catheters brading as they offer significant strength for stiffness, torquability and pushability.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.