The global low profile additives market is forecast to reach USD 1,124.1 Million by 2028, according to a new report by Reports and Data. Low profile additives find its application in polyester resin systems and offer improved characteristics such as paste viscosity, viscosity thickening plateau, and phase separation.
The low profile additives market is driven by the increasing application of these additives in the automotive sector. The use of the market product in automobiles makes them lightweight yet strong, and thus more durable and efficient. Furthermore, the increasing use of the product in the building and construction industries are propelling market growth. This can be attributed to the properties of low profile additives such as electrical insulation, dimensional stability, and corrosion resistance.
Top Companies Operating in the Global Low Profile Additives Market:
Lyondellbasell Industries, Aromax Technology, AOC Aliancys, Swancor Holding Company Limited, Evonik Industries, Wacker Chemie, Swancor Holding Company Limited, Polynt-Reichhold Group, Lucite International, and BASF.
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Further key findings from the report suggest
- Polyvinyl Acetate-based (PVA) lead the market for low profile additive market, with 24.1% of the market share in 2020. Its advantageous properties, such as low shrinkage and improved surface finish, are anticipated to increase its application in various compounding techniques. Growing demand from the automotive industry, where high-quality surface finish is required, are expected to drive the market.
- Sheet Molding Compound/Bulk Molding Compound are a class of composite materials that finds its application in the automotive sector due to their low weight, good mechanical properties, and cost-effectiveness. These composite materials are blended with low profile additives to compensate for polymerization shrinkage.
- The automotive sector are currently facing a lot of changes with regard to its impact on the environment. The weight reduction of a vehicle by 100kg saves up to 12.5g of carbon dioxide emissions every kilometer. Thus, a reduction in a kilogram of the car can save up to 20kg of greenhouse gas emission in the lifetime of the car. Low profile additives help in the production of light-weight cars. Automotive held a market share of 31.3% in the year 2020.
- North America is forecasted to grow with a CAGR of 11.5% during the forecast period. The U.S. accounts for approximately 80% of the North American market product in 2020. It finds its major application in the transportation industry. Military aircraft, commercial aircraft, business jets, helicopters, general aviation aircraft, and spacecraft of the aerospace industry in the U.S. also make substantial use of composites and low profile additives.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Low Profile Additives Market Segmentation
Product Type Outlook (Revenue, USD Million; 2018 – 2028)
- Polystyrene-based
- Polyvinyl Acetate-based
- PMMA-based
- High-density Polyethylene (HDPE)
- Polyester-based
- Others
Application Outlook (Revenue, USD Million; 2018 – 2028)
- Sheet Molding Compound/Bulk Molding Compound
- Resin Transfer Molding
- Pultrusion
- Others
End-Use Industry Outlook (Revenue, USD Million; 2018 – 2028)
- Automotive
- Construction
- Military and Aerospace
- Electronics
- Consumer Products Home Appliances
- Others
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