Press release
Low Profile Additives Market size to amass significant gains by 2026 | Arkema Group, Composites One, Ashland, Lucite International, Link Composites, Polynt Group, Reichhold, Synthomer, Mechemco
The different types of low profile additives available in the market include high-density polyethylene (HDPE) based, poly methyl methacrylate (PMMA) based, polyvinyl acetate (PVA) based, and polystyrene based additives.
Widespread use of composites in the automotive industry and growing attraction of vehicle owners towards enhanced aesthetics is fueling global low profile additives market size, which is poised to witness notable growth prospects in the upcoming years.
Arkema Group, Composites One, Ashland, Lucite International, Link Composites, Polynt Group, Reichhold, Synthomer, Mechemco, Poliya Composite Resins and Polymers, Wacker Chemie, Monachem, Aliancys, and Altana, are among the top manufacturers of low profile additives.
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Composites have witnessed a significant adoption in the world of automobiles. These high-performance materials help automakers reduce overall vehicle weight and enhance fuel-efficiency. Composite materials have gradually replaced traditionally used metal and alloys in structural applications on account of these benefits.
With stringent norms pertaining to fuel-efficiency and ongoing efforts to design lightweight auto models, composites will continue to experience a robust demand in the future, which will offer lucrative opportunities to LPA producers.
In anticipation of substantial demand trends over the next few years, LPA manufacturers are adopting various strategies to maximize their revenue profit margins and expand their presence in the industry. Collaborations in terms of supply and distribution contracts and acquisitions are among the top strategies used by these to gain a competitive edge.
For instance, In June 2018, specialty chemicals company Ashland Composites had appointed Velox, a leading supplier of raw material specialties for the additives, composites, plastics, and paints and coatings industries in Europe, as its new major supplier of composites for France. The supply and distribution agreement includes Ashland’s low profile additives, polyester resins, epoxy vinyl ester resins, and gel coats.
Numerous companies have also been focusing on combining their existing knowledge and expertise with future technologies to tackle the most complex material challenges for customers.
In September 2018, Ashland had opened a new technical service center in Shanghai’s Jinling Valley Sci-Tech Industrial Park to advance research and development of new composite materials. The new facility would enable the company accelerate innovation and commercialization efforts serve customers in the Asia Pacific region.
Some key factors that could limit the product demand
The raw materials required to manufacture low profile additives are mainly derived from petrochemicals. Uncertainty in crude oil prices may make it slightly difficult for manufacturers to maintain steady profit margins. Moreover, the availability of numerous alternatives in the market may restrict the adoption of low profile additives.
However, the demand for innovative polymers, composites, and advanced materials is growing steadily. Manufacturers are constantly exploring ways to meet and exceed the challenges from a diverse range of applications and environments.
Related News:
https://www.marketwatch.com/press-release/alumina-trihydrate-market-to-achieve-considerable-growth-from-paints-coatings-sector-2020-08-03
https://www.marketwatch.com/press-release/acrylic-acid-and-esters-market-is-driven-by-rising-demand-across-the-asia-pacific-2020-08-03
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