Chemicals play a very important part in almost everyday machinery and products. Different chemicals are used in different industries according to the need. When one industry has an increase in demand, the certain chemicals used in this product will in turn be of great important and have a strong ground.
This was the case seen for Liquid Crystal Polymer (LCP), which is the main chemical needed for the creation and fabrication of Electrical and Electronic components. The increase of the need for such elements and units in almost every invention being introduced to humanity has made the chemical needed globally. This has increased the cost and the rate of sales for the chemical which in turn is healthy for Taiwan due to the fact that it is one of the leading countries that supplies the chemical.
Statistics expect and show an increase from 2019 to 2024 of almost 4.64% in terms of compound annual growth rate. This would be the highest ever recorded increase in the growth of this chemical. China has been considered as one of the main causes of this growth due to their high production rates for electronics and electric units. This has made Taiwan one of the best countries to obtain the chemical from due to the strong relations between both countries and the ease of transport of these amounts with cheap prices.