Epoxy resins are synthetic thermosetting polymers, which contain epoxy functional group. The plastic has wide applications in adhesives, coatings, and others. Epoxy resins are majorly manufactured in two grades, viz., solid grades and liquid grades. Liquid crystal epoxy resins (LCERs) are produced from low molecular weight epoxy monomers and amine or anhydride. The polymer possesses properties of liquid crystals and thermoset materials. The polymer has excellent thermal and mechanical properties due to its rigid and ordered structure of crosslinking networking. Hence, the polymer has wide applications in high performance composites.
The liquid crystal epoxy resins market can be segmented based on monomer type, application, and region. Based on monomer type, the market can be segmented into biphenyl, methylstilbene, azomethine, naphthyl, and others. The others segment includes glycidyl, alicyclic, aliphatic, and others. The monomer units are called mesogenic functional groups. In terms of application, the market can be segregated into electronics, adhesives, color filters, structural materials, and others. The electronics segment can be further sub-segmented into semiconductors and circuit boards. The Structural materials are used in automobile and aerospace industries. Based on region, the liquid crystal epoxy resins market can be segregated into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America.
Good mechanical strength, low shrinkage upon curing, fracture toughness, and easy processing are the driving factors for the liquid crystal epoxy resins market. Rigid cross linked structure of liquid crystal epoxy resins offer a combination of thermal, chemical and mechanical properties, which are lacking in traditional epoxy resins. These properties are expected to propel the market of liquid crystal resins in the near future. However, these properties are anticipated to restrict its application in high impact strength applications. The bisphenyl monomer segment is anticipated to dominate the global liquid crystal epoxy resins market during the forecast period. Bisphenyl resins can be utilized in the electronics and automobile sectors. They can be employed as adhesives for a variety of surfaces. The automobile sector is expected to witnessing and increase in demand for liquid crystal epoxy resins due to the development of lightweight components in the sector. Expansion of the aircraft and aerospace industry is estimated to boost the market in the near future.
Asia Pacific is anticipated to provide lucrative opportunities for the liquid crystal epoxy resins market, in terms of both manufacturing and consumption, during the forecast period. The countries in Asia Pacific such as China witness the presence of a large number of local manufacturing plants of local and multinational players of liquid crystal epoxy resins. China is expected to hold a prominent share of the liquid crystal epoxy resins market, followed by Taiwan, India, and Japan, in the next few years. The liquid crystal epoxy resins market in North America and Europe is anticipated to expand at a moderate pace. However, the trend in these regions can vary depending upon seasons. Demand for liquid crystal epoxy resins decreases in winter, while the demand rises in summer for its applications in others segments. The market in Middle East & Africa, and Latin America is anticipated to expand at a sluggish pace during the forecast period.
Major players operating in the global liquid crystal epoxy resins market include Huntsman International LLC, Henkel AG & Co., DIC Corporation, and Toray Industries Inc.
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