Market Overview:
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.
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.
However, the volatility of raw material prices is likely to hamper market growth during the review period. Also, the substitution by polymers in major end-use industries such as automotive, construction, and pharmaceuticals may have a negative impact on market growth.
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Competitive Analysis:
Some of the manufacturers operating in the Global Low Profile Additives Market are PolyOne Corporation (U.S.), Ashland (U.S.), CCP Composites (U.S.), Wacker Chemie AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Momentive (U.S.), FRP Services & Company (Japan), Reichhold LLC 2 (U.S.), Command Chemical Corporation, Inc. (U.S.), Changzhou Huarun Composite Materials Co., Ltd. (China), Arkema (France), and Swancor Ind. Co., Ltd. (Taiwan).
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 Low Profile Additives Market has been analyzed with respect to 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 on account of the high demand from major end-use industries such as automotive, construction, electronics, and consumer products in the region.
The North American market is expected to witness significant growth due to the demand from the construction, automotive, and military and aerospace industries.
High production and trading of automotive parts in Western European countries such as Germany, the U.K., Italy, and France is expected to drive product demand during the forecast period.
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