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 Size 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 E&E 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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