Industry Insights
LPAs are mixed with unsaturated polyester resin to prevent shrinkage during polymerization.Unsaturated polyester resins and vinyl resins include polyester, polymethyl methacrylate, polyurethanes, polyesters, polyvinyl acetate, polyglycols, and their various copolymers, used in the production of these additives.
Growing construction industry across the globe is likely to drive the demand for low profile additives in the forthcoming years. LPAs in pultrusion offer dimensional stability, electrical insulation, and corrosion resistance to the product. Such benefits are anticipated to propel the product demand. Asia Pacific is expected to witness an increase in construction spending over the forecast period on account of rapid urbanization, along with growing population.
Overall, the market for capital projects and infrastructure in Asia Pacific is projected to grow by 7.0% to 8.0% a year over the next decade, approaching USD 5,300.00 billion by 2025, which represents nearly 60.0% of the global market. China's sustained demand for industrial, residential, and infrastructural expansion has generated a requirement for new construction projects. Strong economic growth, coupled with the removal of barriers for foreign investment in India, is expected to spur construction demand over the next few years. Vietnam and Philippines are also becoming increasingly attractive markets owing to rising population, rapid urbanization, and strong economic growth.
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Product Insights
Polystyrene (PS) is generally used for hard and brittle applications. The segment is likely to witness high demand over the forecast period due to low cost of the product. Growing demand from the construction industry and Sheet Molding Compounds (SMC) and Bulk Molding Compounds (BMC) applications are expected to drive this segment. High-density Polyethylene (HDPE) has good processing ability and mechanical properties, which, in turn, is likely to increase its application in compounding processes. Rising demand for desired quality and shaped products is expected to drive the demand for HDPE LPA over the forecast period.
Application Insights
Resin Transfer Molding (RTM) is one of the few low temperatures and pressure molding techniques currently available in the market. It is gaining widespread attention owing to its low cost and convenient operating. The resin transfer molding process is expected to gain traction in the forthcoming years, particularly to eliminate voids and enhance fiber/resin wet-out.
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Regional Insights
In 2018, U.S. led the market in North America. Demand for sheet-molded parts is witnessing an increase due to their application in outer shells of passenger vehicles and advantageous properties, such as lightweight and ease of production. Moreover, presence of a large number of manufacturers and raw material suppliers in the region is expected to significantly drive the regional product demand over the forecast period.
Report Scope
Attribute & Details
Base year for estimation
2018
Actual estimates/Historical data
2014 - 2017
Forecast period
2019 - 2025
Market representation
Volume in Kilotons, Revenue in USD Million & CAGR from 2019 to 2025
Regional scope
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
Country scope
U.S., Canada, Mexico, Germany, U.K., France, China, India, Japan, South Korea, SEA, and Brazil
Report coverage
Revenue forecast, competitive landscape, growth factors and trends
15% free customization scope (equivalent to 5 analyst working days)
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