The global low profile additives market is forecast to reach USD 916.5 Million by 2026, 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.
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Key participants include 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, among others.
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 industries are likely to fuel the demand for low profile additives during the assessment period.
The Asia Pacific region dominated the market for low profile additives. Growth-centric countries in the region, such as India, China, Malaysia, Thailand, and Indonesia are expected to offer lucrative opportunities for growth during the forecast period.
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 2018. 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 2018.
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 2018. 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.
In November 2018, Gazechim Composites and Polynt-Reichhold Group entered into an agreement to distribute unsaturated polyester products, gel coats, and bonding pastes. This development is expected to increase the market share of the Polynt-Reichhold Group in the European region and also increase the demand for low profile additives on a global platform.
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For the purpose of this report, Reports and Data have segmented into the global Low Profile Additives market on the basis of product type, application, end-use industry, and region:
Product Type Outlook (Volume: Kilo Tons; Revenue: USD Million; 2016-2026)
High-density Polyethylene (HDPE)
Application Outlook (Volume: Kilo Tons; Revenue: USD Million; 2016-2026)
Sheet Molding Compound/Bulk Molding Compound
Resin Transfer Molding
End-Use Industry Outlook (Volume: Kilo Tons; Revenue: USD Million; 2016-2026)
Military and Aerospace
Consumer Products & Home Appliances
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Regional Outlook (Volume: Kilo Tons; Revenue: USD Million; 2016-2026)
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