Global Low Profile Additives Market size was valued at US$ 425.84 Mn in 2019 and is expected to reach US$ 1,037.17 Mn by 2027 to exhibit a CAGR of 11.77 % during the forecast period.
The objective of the report is to present a comprehensive assessment of the Market and contains thoughtful insights, facts, historical data, Application-validated Market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global low profile additives market dynamics, structure by identifying and analyzing the Market segments and project the global Market size. Further, the report also focuses on the competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global low profile additives market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Low profile additives are thermoplastic polymers which are added to glass or polyester mixtures during the production process of compounds for improving the surface finish and to shun the contraction. The various materials like polyester, polymethyl methacrylate, polyurethanes, polyesters, polyvinyl acetate are used to make low additives. The applications of low profile additives are in transportation industry, sanitary appliances, business machines, and electrical components and so on.
The growth of the low profile additives market is powered by increasing demand for SMC and BMC in the automotive industry, growth in electrical & electronics and construction industries which is anticipated to drive the progress of the market. Further growth of renewable energy and rising application of polyvinyl acetate low profile additives in headlamp reflectors, lighting systems, and below the hood components drives the global low profile additives market. However, fluctuation in raw material prices is hampering the growth of the market. Growing demand for complex materials in developing economies are generating opportunities for global low profile additives market.
The growth of the Polyvinyl Acetate is charged by changing trends and technological developments in low profile additives manufacturing. The Polyvinyl Acetate (PVA) type has excellent solubility characteristics, good adhesion, superior weather resistance, and non-toxic properties. The properties of the PVA also polyvinyl acetate also allows high productivity is responsible for the progress of the PVA market during the forecast period. The increasing demand of the polyvinyl acetate because it provides reduced operation cost is also driving the growth of the PVA in the global low profile additives market
The SMC/BMC segment is expected to generate the highest CAGR in the forecast period. The automotive industry is presently following an enthusiastic transition with the development of vehicles in acquiescence to severe environmental restraints. So increase the demands of lightweight composite materials is gripping the motion in the market. Sheet molding compounds (SMCs) are a class of composite materials which is mostly used in the automotive industry from a long time because of their low weight, low cost, and good mechanical properties. Therefore, the growing automotive industry is powering the demand for low profile additives market and also drives the growth of the SMC/BMC segment in the global market.
According to the global market analysis, the Asia Pacific market has massive potential to grow in the forecast period. The growing demand for electricity over wind energy, rising demand for automotive, and the increasing urbanization and industrialization in the region are anticipated to propel the demand for low profile additives during the forecast period. China, India, Japan, and South Korea are some of the main low profile additives markets in the region.
Scope of Global Low Profile Additives Market
Global Low Profile Additives Market, by Type
• Polyvinyl Acetate (PVA)
• Polymethyl Methacrylate (PMMA)
• Polystyrene
• Others
Global Low Profile Additives Market, by Application
• Sheet Molding Compound (SMC)/ Bulk molding compound (BMC)
• Resin Transfer Molding (RTM)
• Pultrusion
• Others
Global Low Profile Additives Market, by Region
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in the Global Low Profile Additives Market
• Wacker Chemie
• Lyondellbasell Industries
• Polynt-Reichhold Group
• AOC Aliancys
• Interplastic Corporation
• Aromax Technology
• Ashland
• Evonik Industries
• Swancor Holding Company Limited
• VIN Industries
• Altana
• BASF
• Lucite International
• Mechemco
• Sumitomo Seika Chemicals Company
• Synthomer
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