Market
Overview:
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.
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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.
Competitive
Analysis
·
PolyOne Corporation
·
Ashland
·
CCP Composites
·
Wacker Chemie AG
·
LyondellBasell Industries
Holdings B.V.
·
Momentive
·
FRP Services & Company
·
Reichhold LLC 2
·
Command Chemical Corporation,
Inc
·
Changzhou Huarun Composite
Materials Co., Ltd.
·
Arkema
·
Swancor Ind. Co., Ltd.
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.
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