Low Profile Additives Market expected to reach moderate CAGR growth forecast period 2022-2030. 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.
Key Players
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).
Regional Analysis
The global low profile additives market has been segmented into 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 Industry in 2017 due to the high demand in the automotive industry. The increasing demand for lightweight and fuel-efficient automobiles in the region due to environmental concerns is expected to drive Low Profile Additives Market Share during the forecast period. Fast-paced industrialization in emerging economies such as China and India is also expected to fuel product demand.
Key Market Opportunities
The widespread use of fiber reinforced plastics in the military and aerospace industry is likely to fuel the demand
Key Market Drivers
The increasing use of these additives in the automotive industry.
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