The global liquid crystalline polymers market size is projected to hit USD 2.31 billion by 2029 and exhibit a CAGR of 8.0% during the forecast period. Liquid crystalline polymers or LCPs are a type of thermoplastics that offer exemplary electrical properties, oil, gas, & chemical resistance and high heat tolerance. The swift expansion of the electrical and electronics industry is likely to foster growth for the market. Fortune Business InsightsTMhas presented this information in its report titled, “Liquid Crystalline Polymers Market, 2022-2029”. The market size stood at USD 1.29 billion in 2021 and USD 1.34 billion in 2022.
- It assimilates the latest market trends influencing the market’s growth.
- It assesses various growth drivers and restraints of the market.
- It includes a comprehensive assessment of the COVID-19 pandemic’s impact on the market.
- It suggests innovative strategies to attain growth in the coming years.
- It highlights the latest industry developments.
Key Players Adopt Ingenious Strategies to Garner Growth
Currently, Sumitomo Chemical, Polyplastics, and Celanese Corporation occupy more than 63% of the market share. The major players operating in the market emphasize collaborations, acquisitions, mergers, product innovations, and capacity improvements to fortify their global presence. For instance, Polyplastics Co. Ltd., in September 2021, unveiled its plans to build a polymerization plant to expand liquid crystalline polymers polymerization capacity to 25,000 tons per year.
List of Key Market Players-
- Celanese (U.S.)
- Polyplastics Co. Ltd (Japan)
- Sumitomo Chemical Company (Japan)
- ENEOS LC Co., Ltd. (Japan)
- Solvay (Belgium)
- Shenzhen Wote Advanced Materials Co. Ltd (China)
- Kingfa Sci. & Tec. Co., Ltd. (China)
- Ueno Fine Chemicals Industry (Japan)
- Shanghai PRET (China)
- TORAY (Japan)