Unsaturated polyester resins cause volume shrinkage of about 7% to 9% during curing, thus causing SMC/BMS molding to have pronounced rough surfaces, warpage, cracks, and sink marks. These issues have been effectively resolved by adding low-profile additives. They were advanced for reimbursing for the thermal and polymerization shrinkage of the UP resin at a base price to the properties such as robustness, stiffness, and reaction rate. The low profile additives market size is expanding as in recent years, the low profile additives with single polarity were utilized. Because of a single polarity, the low profile additives naturally had microvoid size and microvoid distribution defeats so that the unsaturated polyester resins commodities could not concurrently have perfect low shrinkage, smooth surface, and pigmentation.
The global low profile additives market was valued at USD 650.22 million in 2022 and is expected to grow at USD 1,455.96 million with a CAGR of 8.4% during the forecast period 2032.
Growth Drivers
The extensive usage of thermoplastic composites in the automobile industry, because of their approving characteristics, is expected to propel the demand for LPA. The low profile additives market sales are soaring as additionally, the escalating population worldwide, the surge in consumer inclination for distinctive vehicles, government enterprise, and reinforcement for the automobile industry have improvised the performance of the market. For instance, as per the article circulated by FDI India on August 2018, in April-March 2020, the industry will manufacture 26 million vehicles, including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles, of which 4.7 million will be exported. LPA has a high demand in the industry due to their escalated robustness, lightweight, and good electric conductivity. Further, it provides an adequate achievement to auto components.
Polyvinyl Acetate Ruled the Market
Polyvinyl acetate-dependent TPEs are an outstanding wellspring of thermal insulation and have high robustness and flexibility. It is the most opted additive in several industries, including aerospace, building, and construction, and the automotive sector has improvised the evolution of polyvinyl acetate. This is expected to escalate the demand for LPA in the market. Additionally, polystyrene and alternate product types also displayed notable growth during the forecast period. It is greatly utilized in industrial and automotive applications, particularly in gaskets, inert, interior and exterior elements, seals, door and window handles, etc.
Features of Low Profile Additives
- Concentration on sustainable materials: With the growing importance of viable and eco-friendly substances, LPAs have acquired universal importance in the construction sector. They are utilized to make insulating substances such as foams, boards, and panels for structuring and construction projects. LPAs improvise the production of these substances and render them viable and environmentally friendly.
- Cost and time efficiency of low profile additives processing: LPAs are extremely logical in processing and provide cost and time advantages to manufacturers. They are consistent with a broad gamut of polymers and sanction effortless processing of finished goods. Additionally, their fluidity and low thermal conductivity render them perfect for extensive manufacturing projects.
Geographical Penetration
Asia Pacific: This region is dominant in the market due to nations such as China, Japan, and India have notably credited to the development of the market in the region. There is an immense escalation in LPA R&D in China and other Asia Pacific regions. Many elements, including approving government policies and funding, have credited to the surge in R&D. Several countries are trying to inflate their research and upheaval endeavours to improve the production technology of LPAs.
Final Thoughts
The market for LPA additives is observing notable development, and the augmentation of processing space is an affidavit to the growing demand for these additives. The demand for lightweight and resistant plastic commodities, sustainable substances, and progression in manufacturing technologies are some of the main propellers of growth. In the low profile additives market, advancing innovative and economical LPAs is anticipated to provide gainful opportunities for manufacturers worldwide.