Global Low
Profile Additives (LPA) Market is expected to reach USD 1,022.3
million by 2020, according to a new study by Grand View Research, Inc.
Corporate Average Fuel Economy (CAFE) implemented by the U.S. government for
improving fuel economy has been a key factor for market development. Metal
components are being replaced by lighter plastic parts which are expected to
play a vital role in affecting the dynamics of the LPA market. SMC and BMC are
expected to be used in a variety of automotive components thereby spurring LPA
demand over the forecast period.
SMC and BMC were the most dominant LPA application markets, with
demand estimated at 174.3 kilo tons in 2013, owing to improving automotive and
construction industry, particularly in Asia Pacific. LPA are extensively used
in the pultrusion process as they offer electrical insulation, corrosion
resistance and dimensional stability to the final product. This segment is
expected to witness significant growth in demand for LPA at an estimated CAGR
of 5.5% from 2014 to 2020.
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Further key findings from the study suggest:
- Global low profile additive demand was 280.9 kilo tons in 2013 and is expected to reach 406.3 kilo tons by 2020, growing at a CAGR of 5.4% from 2014 to 2020.
- PVAc was the largest used low profile additive, with global demand at 113.8 kilo tons in 2013 and is expected to be the fastest growing product segment, at an estimated CAGR of 5.8% from 2014 to 2020. PVAc is highly preferred as it is compatible with all major unsaturated polyester resins and provides superior surface finish with zero shrinkage.
- Asia Pacific was the largest regional consumer of LPA, accounting for 59.2% of global demand in 2013. China is expected to be a key market for LPA owing to its status as the largest automotive manufacturer in the world along with being the fastest growing infrastructural economy.
- Key market participants include Ashland Inc, CCP Composites, Reichhold Chemicals Inc, Arkema, Wacker AG, Cray Valley Hydrocarbon Specialty Chemicals, Momentive specialty Chemicals Inc, Polyone Corporation, Lucite International and FRP Services & Company.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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