The study identifies the strengths, opportunities, challenges, and future market risks and provides a precise assessment of the global business environment with the effects of COVID-19. According to Market Research Future (MRFR), The global Liquid Crystal Polymer Connectors Market is projected to have a high CAGR of 8.1% from 2018 to 2023 (forecast period).
The fast-growing device miniaturizing trend continues to improve the application potential of liquid crystal polymer (LCP) connectors. LCP connectors are the most common circuit board solution for electronic devices. It is used in product segments across consumer electronics, automotive, aerospace, telecommunications, among others.
LCP connectors are highly suitable for different applications due to their related advantages such as non-reactivity, inertness, and high fire resistance. These features have made use of LCP connectors suitable for various conventional electric applications.
The electronics industry has followed the trend of miniaturization of electric appliances, which has led to the use of LCP connectors in the industry, as they promote the development of high-precision injection-molded parts.
Key Players
Sumitomo Chemical Company, Polyplastics Co. Ltd, Amphenol Corporation, Wurth Group (Wurth Elektronik), Celanese Corporation, 3M Company, OMRON Corporation, Japan Aviation Electronics Industry, Ltd., Hirose Electric Co. Ltd., RTP Company, HARTING Technology Group, Asia International Enterprise (HK) Limited, TE Connectivity Ltd., Cinch Connectivity Solutions, Axon' Cable, Solvay SA, and Molex Inc.
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Market Dynamics
The use of LCP connectors has increased dramatically in recent years. The industry has been powered by rapid technological developments in sectors such as telecommunications, medical, and electronics.
Increased demand for miniaturized electronic components like connectors and surface mounting devices, is expected to boost the global market for LCP connectors in the coming years. Miniaturization of devices or products allows manufacturers to integrate more and more features into smaller packages to streamline systems.
The global increase in demand for consumer electronic devices, such as laptops, tablets, and mobile phones, is expected to boost the global market for liquid crystal polymer (LCP) connectors during the forecast period. Moreover, the increased demand for micro-injection molding with high-temperature resistance and flow properties drives the market for LCP connectors.
Factors related to Low-weld strength and warp age are expected to reduce the growth of players operating in the global market for LCP connectors in the near future. However, increased investment in technology for the development of products used in niche applications is expected to create new avenues for the growth of these market players in the coming years.
Furthermore, increased demand for lightweight and high-performance materials to increase automobile fuel efficiency is expected to boost demand for LCP connectors during the forecast period. Automobile weight reduction is considered important in the automotive sector as it decreases the carbon footprint of the vehicle.
Market Segmentation
The global LCP connectors market has been classified as connector type.
By connector type, the global LCP Connectors Market has been segmented into rectangular connectors, circular connectors, card edge connectors, backplane connectors, power connectors, modular connectors, heavy duty power connectors, FFC, FPC connectors, D-shaped connectors, coaxial connectors, memory connectors, fiber optic connectors, pluggable connectors, USB DVI HDMI connectors, blade-type power connectors, solid-state lighting connectors.
Regional Analysis
In terms of region, the global LCP connectors market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
Asia Pacific is likely to see the highest demand for LCP connectors from 2018 to 2023 due to technological developments in the region. A significant number of multi-scale companies in the EE industry in the area are expected to consume LCP connectors in large quantities during the forecast period. Several LCP connector manufacturers have invested heavily in China, especially in its semiconductor and automotive sectors. Moreover, due to the rise in demand for consumer electronics devices and automobile and a rise in disposable income of the middle class, the market for LCP connectors in the rest of Asia Pacific is projected to expand significantly over the forecast period.
The North American market is expected to grow at a significant rate over the forecast period, due to the presence of several consumer electronics manufacturers in the region. Increasing automobile production in the U.S. is expected to boost demand for LCP connectors in the country during the forecast period.
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