Market Research Report
Low Profile Additives Market by Type (PVA, PMMA, Polystyrene, and Others), Application (SMC/BMC, Resin Transfer Molding, Pultrusion, and Others) and Region (North America, Europe, Asia-Pacific, and Rest of The World) - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||783263|
|Published||Content info||101 Pages
Delivery time: 1-2 business days
|Low Profile Additives Market by Type (PVA, PMMA, Polystyrene, and Others), Application (SMC/BMC, Resin Transfer Molding, Pultrusion, and Others) and Region (North America, Europe, Asia-Pacific, and Rest of The World) - Global Forecast to 2023|
|Published: January 31, 2019||Content info: 101 Pages||
"The low profile additives market is projected to grow at a CAGR of 11.8%, in terms of value, between 2018 and 2023."
The low profile additives market is projected to grow from USD 381 million in 2018 to USD 664 million by 2023, at a CAGR of 11.8%. The growth of this market can be attributed to the technological advancements requiring highly efficient and lightweight materials such as SMC/BMC, RTM compounds, and others in the automotive industry. Another factor driving the low profile additives market is the increased use of composite compounds in the manufacturing of wind blades and electrical appliances. However, the volatility of raw material prices are restraining the growth of the market. Most of the raw materials used in the production of low profile additives are petroleum products. The prices of these raw materials have been highly volatile in recent times, touching a five-year low, which affected the market growth.
PVA is projected to be the fastest-growing type segment of the market during the forecast period. PVA displays extraordinary solubility characteristics during the curing phase of unsaturated polyesters. In case PVA is absent from the manufacturing process, the end product become warped and will have poor surface quality. PVA is used in the manufacture of fiber reinforced plastics (FRP) as a low profile additive.
The large consumption of SMC/BMC in various industries such as automotive, construction, and electrical & electronics in the manufacturing of components such as decks, headlamp casing, electrical appliances, and tools is driving the market. The growing urbanization and industrialization are responsible for the high demand for SMC/BMC application in the emerging economies, which, in turn, is expected to increase the demand for low profile additives.
Strong automotive and electrical & electronics manufacturing base is responsible for the large market share of APAC. China is the largest market in APAC owing to its well-established industrial base. The moderate growth rate in the North American and European markets is expected to affect the demand for low profile additives in these regions during the forecast period.
The market sizes estimated in this study were validated through primary interviews conducted with various industry experts, globally. These primary sources are divided into three categories:
The report profiles several leading players of the low profile additives market that include: Wacker Chemie (Germany), LyondellBasell Industries (Netherlands), Polynt-Reichhold Group (Italy), AOC Aliancys (Italy), and Interplastic Corporation (US). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the low profile additives market.
The objective of this study is to define, describe, and forecast the low profile additives market based on various segmentations and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall low profile additives market. In this report, the low profile additives market has been segmented based on type, application, and region.
The report is expected to help market leaders/new entrants in the low profile additives market in the following ways:
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.