Market Overview —
Growth of the electronic industry is auguring well for the global LCP connector market. As per the latest study conducted by Market Research Future (MRFR), The incessant technological advances in industry verticals such as telecom, medical and electronics has favoured the market growth.
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The application of LCP connectors has increased considerably in recent years. Moreover, growing trend of device miniaturization has led to a high demand for thin and small connectors. The spectrum of LCP connectors has continued to expand over time, there are several types of LCP connectors that available offering extended circuit wiring solutions. At the same time, a broader category of materials is being used for making LCP connectors. Some of the preferred raw material include Polybutylene terephthalate (PBT), Polyphenylene sulfide (PPS), Polyethyleneimine (PEI), Nylon 66. LCP, and Crystal Polymer (LCP).
The global LCP connectors market has benefited from the expansion of several end-use industries such as aerospace, automobile and consumer electronics. LCP connectors have become a key component in a variety of modern electronics.
Global LCP Connectors Market: Competition Analysis
Wurth Group (Wurth Elektronik), Japan Aviation Electronics Industry, Ltd., Amphenol Corporation, Molex Inc., Axon' Cable, 3M Company, Cinch Connectivity Solutions, Solvay SA, Hirose Electric Co. Ltd., TE Connectivity Ltd., Polyplastics Co. Ltd., HARTING Technology Group, Sumitomo Chemical Company, Asia International Enterprise (HK) Limited, OMRON Corporation, Celanese Corporation and RTP Company are among the notable market players profiled in MRFR’s report.
Global LCP Connectors Market: Segmental Analysis
The segmental analysis of the market has been conducted on the basis of connector type and region.
Based on connector type, the market has been segmented into D-shaped connectors, fiber optic connectors, USB, HDMI connectors, rectangular connectors, modular connectors, FFC, blade-type power connectors, pluggable connectors, heavy duty power connectors, backplane connectors, power connectors, circular connectors, DVI, card edge connectors, FPC connectors, coaxial connectors, solid-state lighting connectors and memory connectors. Of these, the rectangular connector segment command the major chuck of market share in terms of value. It is projected that the segment will demonstrate an impressive CAGR of 8.5% during the assessment period (2018-2023). Over time, preference for rectangular connector has grown substantially owing to its high durability. It remains the first choice in heavy-duty electronics products. Moreover, rectangular connectors offer different locking system option such as screw, single latches, double latches and bayonet. The circular connectors segment holds the second spot and is likely to retain its position over 2023. The segment is currently valued at more than USD 1,300 Mn. Whereas the coaxial connectors segment is projected to exhibit the highest CAGR during the assessment period.
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Global LCP Connectors Market: Regional Analysis
The market has been covered across Latin America, North America, Africa, the Middle East Asia Pacific (APAC) and Europe. In term of revenue, North America and Asia Pacific are the two most significant contributors of the global LCP connectors market. These regions are expected to remain important investment destination for companies during the projection period. North America is expected to present lucrative opportunities to market participant in the forthcoming years. The North America LCP connectors market which is currently valued at more than USD 1,300 Mn is projected to capture a strong CAGR. In APAC, China has emerged as a major market for LCP connectors parting due to its growing dominance in electronics manufacturing. China has established itself a global manufacturing hub, bolstering several industry verticals including electronics. Access to large labour force, favourable regulations and availability of raw materials makes China preferred destination for manufacturers. Meanwhile, China’s neighbouring country India is also making regulatory reforms to boost domestic manufacturing. Such factors are influencing the LCP connectors market in the region.
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