Low Profile Additives Market Size, Share, Growth, Analysis Forecast to 2030
The Global low profile additives market has been segmented by technique, product, end-use industry, and region.
By 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. The sheet molding compound
segment is expected to account for the majority market share as the product is
cost-effective, light weight, and reduces industry scrap. Also, it can be
easily produced in high volumes. Although SMC and BMC possess the same
properties such as dimensional stability, high strength, and corrosion
resistance, the BMC segment is expected to grow significantly in the coming
years. This can be attributed to the increasing adoption of BMC in the
electronics industry as it is fire- and flame-resistant.
Competitive Analysis
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).
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Regional Analysis
The low profile
additives market has been analyzed with respect to 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 market in 2017 on
account of the high demand from major end-use industries such as automotive,
construction, electronics, and consumer products in the region.
The North American
market is expected to witness significant growth due to the demand from the
construction, automotive, and military and aerospace industries.
High production and
trading of automotive parts in Western European countries such as Germany, the
U.K., Italy, and France is expected to drive product demand during the forecast
period.
Based on product, the
market has been segmented into polyvinyl acetate (PVA), polymethyl methacrylate
(PMMA), polystyrene (PS), and high density polyethylene (HDPE). The PVA segment
is expected to account for the largest market share due to the extensive use of
the product in the production of automotive parts such as headlamp reflectors,
lighting systems, under-the-hood components, and LED lighting. PMMA is widely
used as a shatterproof replacement for glass and has various advantages over
polystyrene such as high resistance to UV light and weathering, excellent light
transmission, and a wide range of color options.
The market has been
segmented, by end-use industry, into automotive, construction, military and
aerospace, electronics, consumer products and home appliances, and others.
Automotive is expected to be the leading end-use industry segment due to the
increasing demand for lightweight and fuel-efficient automobiles to meet the
stringent regulations for volatile organic compound (VOC) emissions. The
construction segmented is expected to account for the second-largest market
share due to rapid industrialization across the globe.
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