The global low profile additives (LPA) market size is estimated to reach USD 1.71 billion by 2025

LONDON, March 29, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5360539



The global low profile additives (LPA) market size is estimated to reach USD 1.71 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for low-shrinkage and surface-finished plastic products is likely to drive the market to expand at a 7.3% CAGR during the forecast period.

Demand for low profile additives is anticipated to witness significant growth over the coming years on account of an expanding automotive industry in Asia Pacific and North America.Increasing application of polyvinyl acetate (PVA) low profile additives in headlamp reflectors, lighting systems, and under the hood components is likely to drive market growth. On the down side, fluctuation in raw material prices is expected to hinder the growth of the market over the forecast period. Any increase in raw material prices could result in a surge in cost of production, thereby affecting LPA prices.

Most companies actively participating in the market have extensive production capacities and vast distribution channels across the globe. Manufacturers are involved in new product developments and expansion strategies such as mergers and acquisitions to strengthen their position.

Further key findings from the report suggest:
• By product, polyvinyl acetate is likely to register the fastest CAGR of 7.8%, in terms of revenue, due to significant increase in its usage to manufacture automotive parts such as headlamp reflectors, lighting systems, under the hood components, and LED lighting
• By application, sheet & bulk molding is anticipated to register a CAGR of 6.5%, in terms of volume, from 2017 to 2025. This can be attributed to growing use in the manufacturing of automotive body panels, truck components, and semi-structural parts
• Asia Pacific is expected to record a CAGR of 6.7%, in terms of volume, from 2017 to 2025. The rising middle class is likely to continue to drive the automotive sector, with new purchases and replacement of vehicles growing rapidly. This, in turn, is likely to fuel the LPA market in the region
• The Japan LPA market is expected to be directly impacted by the automotive industry, given that it is one of the core industrial sectors in the economy. Demand for LPA in Japan is predicted to witness considerable growth over the coming years
• Manufacturers are involved in new product developments and expansions. For instance, Wacker Chemie AG expanded its manufacturing facilities for dispersible polymer powders and dispersions in South Korea.

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