DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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 to be the fastest-growing type of low profile additives, in terms of volume and value, during the forecast period
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.
SMC/BMC to be the largest application of low profile additives, in terms of volume and value, during the forecast period
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.
APAC to be the largest low profile additives market, in terms of volume and value, during the forecast period
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 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.
- Increasing Demand for SMC and BMC in the Automotive Industry
- Growth in Electrical & Electronics and Construction Industries
- Growth of Renewable Energy
- Volatility in Raw Material Prices
- Increasing Demand for Composite Materials in Emerging Economies
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.5 Unit Considered
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Low Profile Additives Market
4.2 Low Profile Additives Market, By Type
4.3 Low Profile Additives Market, By Application
4.4 Low Profile Additives Market, By Region
4.5 APAC Low Profile Additives Market, By Application and Country
5 Market Overview
5.2 Market Dynamics
5.3 Porter's Five Forces Analysis
6 Low Profile Additives Market, By Type
6.2 Polyvinyl Acetate
6.3 Polymethyl Methacrylate
7 Low Profile Additives Market, By Application
8 Low Profile Additives Market, By Region
8.2 North America
9 Competitive Landscape
9.2 Ranking of Key Players
9.3 Competitive Scenario
10 Company Profiles
10.1 Wacker Chemie
10.2 Lyondellbasell Industries
10.3 Polynt-Reichhold Group
10.4 AOC Aliancys
10.5 Interplastic Corporation
10.6 Aromax Technology
10.8 Evonik Industries
10.9 Swancor Holding Company Limited
10.10 VIN Industries
10.11 Other Companies
10.11.3 Lucite International
10.11.5 Sumitomo Seika Chemicals Company
For more information about this report visit https://www.researchandmarkets.com/research/9c57hx/global_low?w=4