Market Size of Low Profile Additives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Low Profile Additives Market Analysis
The market for low profile additives is expected to register a CAGR of more than 7%, during the forecast period. Major factors driving the market studied are the rising demand for high-performance SMC (Sheet Molding Compound) formulations from the automotive industry, and emerging applications in fiber-reinforced plastics (FRP). However, high polymerization shrinkage of unsaturated polyester resin with the crosslinking styrene monomer is expected to hinder the market growth.
- The injection and compression molding (sheet molding compounds (SMC) and bulk molding compounds (BMC)) application segment dominated the market. Itis expected to grow during the forecast period, owing to its increasing consumption in end-users, like the automotive, aerospace anddefense, and medical industries.
- The continuously growing trend of using recycled plastic materials is likely to act as an opportunity in the future.
- Asia-Pacific dominated the global market, with the largest consumption from China and Japan.
Low Profile Additives Industry Segmentation
The scope of the low profile additives market report includes:
| Product Type | ||||
| Polystyrene-based | ||||
| Polyvinyl Acetate-based | ||||
| PMMA-based | ||||
| High-density Polyethylene (HDPE) | ||||
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| Other Product Types |
| Application | |
| Injection and Compression Molding (Sheet Molding Compounds (SMC) and Bulk Molding Compounds (BMC)) | |
| Pultrusion | |
| Resin Transfer Molding (RTM) | |
| Hand Lay-up | |
| Spray-up |
| Geography | ||||||||
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Low Profile Additives Market Size Summary
The low profile additives market is poised for significant growth, driven by the increasing demand for high-performance sheet molding compounds (SMC) in the automotive sector and emerging applications in fiber-reinforced plastics (FRP). The automotive industry's shift towards lightweight vehicles, necessitated by environmental regulations and fuel efficiency standards, is a key factor propelling the market. The substitution of heavy steel components with lightweight composite materials, such as carbon fiber, is gaining traction, further boosting the demand for low profile additives. Despite challenges like high polymerization shrinkage in unsaturated polyester resin, the market is expected to expand, with Asia-Pacific, particularly China and Japan, leading in consumption.
North America represents a significant portion of the global demand for low profile additives, with the United States being a major contributor due to its technology-driven economy and substantial use of composite materials. The transportation sector, including automotive and aerospace industries, is the largest end-user, seeking innovative materials to reduce weight and meet fuel efficiency and emission targets. The market is characterized by a competitive landscape with key players like Wacker Chemie AG, Ashland, and Polynt, among others. As the market continues to evolve, the trend of using recycled plastic materials presents future opportunities for growth.
Low Profile Additives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increase in Demand for High-performance SMC (Sheet Molding Compound) Formulations from Automotive Industry.
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1.1.2 Emerging Applications in Fiber-reinforced Plastics (FRP)
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1.1.3 Replacement of Steel Rebar (Reinforcing Bar Employed to Strengthen Concrete Structures)
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1.2 Restraints
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1.2.1 High Polymerization Shrinkage of Unsaturated Polyester Resin with the Crosslinking Styrene Monomer
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1.2.2 Influence in Thermal and Mechanical Properties, and Water Absorption
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Polystyrene-based
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2.1.2 Polyvinyl Acetate-based
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2.1.3 PMMA-based
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2.1.4 High-density Polyethylene (HDPE)
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2.1.5 Polyester-based
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2.1.5.1 Saturated Polyesters-based
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2.1.5.2 PU-based Saturated Polyesters-based
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2.1.6 Other Product Types
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2.2 Application
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2.2.1 Injection and Compression Molding (Sheet Molding Compounds (SMC) and Bulk Molding Compounds (BMC))
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2.2.2 Pultrusion
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2.2.3 Resin Transfer Molding (RTM)
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2.2.4 Hand Lay-up
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2.2.5 Spray-up
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Spain
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Low Profile Additives Market Size FAQs
What is the current Low Profile Additives Market size?
The Low Profile Additives Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Low Profile Additives Market?
Wacker Chemie AG, Ashland, Polynt, Poliya Composite Resins and Polymers Inc. and Swancor Manufacturing Inc. are the major companies operating in the Low Profile Additives Market.
