Press release
Low Profile Additives Market Share, Trends, Growth | Forecast 2023 by PolyOne, Ashland, CCP Composites, Wacker Chemie AG, Momentive, FRP Services, Reichhold LLC 2, Command Chemical Corporation, Changzhou Huarun Composite Materials, Arkema and Swancor
Low Profile Additives Market: demand for Lightweight Vehicles across the globe is set to drive the growth of the global market
Low Profile Additives are thermoplastics particles that are incorporated into unsaturated polyester resin to enhance the surface finish of fiberglass by shrinkage compensation. Low profile additives, when used in unsaturated polyester resins systems, offer improved characteristics such as viscosity thickening plateau, paste viscosity, and phase separation.
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The Global Low Profile Additives Market is primarily driven by the increasing use of these additives in the automotive industry. The use of Low Profile Additives in automobiles makes them lightweight yet strong, and therefore more efficient and durable. Moreover, the increasing use of the product in the building and construction industry is propelling market growth. This can be attributed to the properties of Low Profile Additives such as electrical insulation, dimensional stability, and corrosion resistance. Dynamic growth-centric countries in Asia-Pacific such as China, India, Thailand, Malaysia, and Indonesia are expected to offer lucrative opportunities for growth to market players during the forecast period. Additionally, the use of fiber reinforced plastics incorporated with Low Profile Additives offers design flexibility, cost reduction, weight reduction and improved lead time. The widespread use of fiber reinforced plastics in the military and aerospace industry is likely to fuel the demand for low profile additives during the assessment period.
Segmentation
The Global Low Profile Additives Market has been segmented on the basis of Technique, Product, End-Use Industry and Region.
Based on Technique, the Global Low Profile Additives Market has been segmented into sheet molding compound (SMC), bulk molding compound (BMC), resin transfer molding (RTM), and pultrusion.
On the Basis of Product, the market has been segmented into polyvinyl acetate (PVA), polymethyl methacrylate (PMMA), polystyrene (PS), and high-density polyethylene (HDPE).
By End-Use Industry, the market has been segmented into automotive, construction, military and aerospace, electronics, consumer products and home appliances, and others.
Regional Analysis
The Global Low Profile Additives Market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific dominated the Global Low Profile Additives Market in 2017 due to the high demand in the automotive industry. The increasing demand for lightweight and fuel-efficient automobiles in the region due to environmental concerns is expected to drive market growth during the forecast period. Fast-paced industrialization in emerging economies such as China and India is also expected to fuel product demand.
North America accounted for the second-largest market share in 2017 on account of the high demand for Low Profile Additives in the automotive, electronics, construction, and aerospace industries in the region.
The European market is expected to grow at a significant rate due to the high production and sales of automotive parts in the region.
The Latin American market is projected to witness considerable growth due to the growing automotive industries in Brazil and Argentina.
The market in the Middle East & Africa is also likely to grow due to the presence of infrastructure hubs in the region.
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