Low Profile Additives Market Forecast Covering Growth Inclinations & Development Strategies until By
Posted: Aug 25, 2019
The global low profile additives market size is expected to reach USD 1.71 billion by 2025, expanding at a CAGR of 7.4% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand for low shrinkage and surface finished plastic products is likely to drive the demand for Low Profile Additives (LPA).
Demand for low profile additives is anticipated to witness significant growth in the forthcoming years on account of expanding automotive industry in Asia Pacific and North America. Increasing application of Polyvinyl Acetate (PVA) low profile additives in headlamp reflectors, lighting systems, and under the hood components is likely to drive growth of the low profile additives market. On the down side, fluctuation in raw material prices is expected to hinder the growth over the forecast period. An increase in raw material prices could result in a surge in cost of production, thereby affecting LPA prices.
Low cost for per unit weight is likely to drive demand for polystyrene products over the forecast period. Growing demand from construction industry and increasing SMC and BMC applications are expected to drive demand for low profile additives. Polystyrene LPAs are used in various markets including building and construction, electronics and electrical, home and domestic appliances, and industrial sector. Growing demand for low shrinkage products from end-use industries is expected to drive demand for polystyrene products in near future.
Increasing demand from sheet and bulk molding compounds is prominently fueling the LPA market growth. Although Sheet Molding Compounds (SMC) and Bulk Molding Compounds (BMC) are similar in composition, they are processed differently. Production technologies for both these composites involve similar two-part process for molded parts. Low profile additives used in the resin premixes perform the role of reduction of polymerization shrinkage and thermal contraction. The resulting composite parts from these applications compete with steel parts in their mechanical properties and ensure pronounced chemical and corrosion resistance and allow very high design freedom. SMCs ensure superior mechanical properties on the backdrop of the longer fibers utilized in this process. On the other hand, BMCs impart several essential advantages to the composite materials such as better flow and temperature resistance as compared to SMC owing to the shorter fibers and higher filler content.
Most companies actively participating in the market have extensive production capacities and vast distribution channels across the globe. Manufacturers are involved in new product developments and expansion strategies, such as mergers and acquisitions, to strengthen their position in the market.
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Further key findings from the study suggest:
- Asia Pacific led the low profile additives market during the forecast period. China is the fastest-growing country on account of growing automotive industry
- Polyvinyl acetate segment is fueling the market growth owing to its improved surface finished and low shrinkage properties
- Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, in November 2017, Wacker Chemie AG expanded its existing production facilities dispersions and dispersible polymer powders in South Korea. Purpose of the expansion was to increase annual production capacity of dispersible polymer powders up to 80,000 MT.
Low Profile Additives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Polyvinyl Acetate (PVA)
- Polymethyl Methacrylate (PMMA)
- Polystyrene (PS)
- High-density Polyethylene (HDPE)
- Sheet & Bulk Molding Compounds
- Resin Transfer Molding
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting