The low profile additives market is projected to grow at a CAGR of 11.8%, in terms of value, between 2018 and 2023
NEW YORK, Feb. 7, 2019 /PRNewswire/ --
The low profile additives market is projected to grow at a CAGR of 11.8%, in terms of value, between 2018 and 2023.
Read the full report: https://www.reportlinker.com/p05732369
The low profile additives market is projected to grow from USD 381 million in 2018 to USD 664 million by 2023, at a CAGR of 11.8%. The growth of this market can be attributed to the technological advancements requiring highly efficient and lightweight materials such as SMC/BMC, RTM compounds, and others in the automotive industry. Another factor driving the low profile additives market is the increased use of composite compounds in the manufacturing of wind blades and electrical appliances. However, the volatility of raw material prices are restraining the growth of the market. Most of the raw materials used in the production of low profile additives are petroleum products. The prices of these raw materials have been highly volatile in recent times, touching a five-year low, which affected the market growth.
PVA to be the fastest-growing type of low profile additives, in terms of volume and value, during the forecast period.
PVA is projected to be the fastest-growing type segment of the market during the forecast period.PVA displays extraordinary solubility characteristics during the curing phase of unsaturated polyesters.
In case PVA is absent from the manufacturing process, the end product become warped and will have poor surface quality. PVA is used in the manufacture of fiber reinforced plastics (FRP) as a low profile additive.
SMC/BMC to be the largest application of low profile additives, in terms of volume and value, during the forecast period.
The large consumption of SMC/BMC in various industries such as automotive, construction, and electrical & electronics in the manufacturing of components such as decks, headlamp casing, electrical appliances, and tools is driving the market. The growing urbanization and industrialization are responsible for the high demand for SMC/BMC application in the emerging economies, which, in turn, is expected to increase the demand for low profile additives.
APAC to be the largest low profile additives market, in terms of volume and value, during the forecast period.
Strong automotive and electrical & electronics manufacturing base is responsible for the large market share of APAC.China is the largest market in APAC owing to its well-established industrial base.
The moderate growth rate in the North American and European markets is expected to affect the demand for low profile additives in these regions during the forecast period.
The market sizes estimated in this study were validated through primary interviews conducted with various industry experts, globally. These primary sources are divided into three categories:
• By Company Type: Tier I – 25%, Tier II – 50%, and Tier III – 25%
• By Designation: C Level – 20%, Director Level – 30%, and Others – 50%
• By Region: North America – 22%, Europe – 33%, APAC – 28%, and RoW – 17%
The report profiles several leading players of the low profile additives market that include Wacker Chemie (Germany), LyondellBasell Industries (Netherlands), Polynt-Reichhold Group (Italy), AOC Aliancys (Italy), and Interplastic Corporation (US). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the low profile additives market.
RESEARCH COVERAGE
The objective of this study is to define, describe, and forecast the low profile additives market based on various segmentations and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall low profile additives market. In this report, the low profile additives market has been segmented based on type, application, and region.
KEY BENEFITS OF BUYING THE REPORT
The report is expected to help market leaders/new entrants in the low profile additives market in the following ways:
1. This report comprehensively segments the low profile additives market and provides the closest approximations for the sizes of different segments and subsegments of the market across different verticals and regions.
2. This report is expected to help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about strategies, such as merger & acquisition, agreement, and investment & expansion, which were undertaken by various key players to enhance their position in the low profile additives market.
Read the full report: https://www.reportlinker.com/p05732369
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