Low Profile Additives Market is Anticipated to Witness High Growth Owing to Rising Automobile Production

Low Profile Additives Market is Anticipated to Witness High Growth Owing to Rising Automobile Production

Low profile additives are specialized chemicals added to resin systems to lower the profile of the resin during curing. They help minimize surface defects and produce smooth surfaces. The automotive and transportation industries are the largest end-users of low profile additives as they are used to manufacture fiberglass components in vehicles.

The global low profile additives market size is estimated to be valued at US$ 1,247.9 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the low profile additives are Wacker Chemie AG, INEOS AG, Polynt S.p.A., Vin Industries, BASF SE, Altana, Polychem Ltd., Swancor, LyondellBasell Industries Holdings B.V., Aromax Technology Corp., Interplastic Corp., Synthomer PLC, AOC, LLC, Mechemco, Taak Resin Co., NOF Corporation. The major players are focusing on expanding their production capacities and global footprint to cater to the growing demand.

The key opportunities in the Low Profile Additives Market Demand  include development of bio-based and recycled low profile additives to cater to the increasing demand for sustainable products. Additionally, the growth of wind energy and construction industries will provide new revenue streams for low profile additive manufacturers over the coming years.

The major players are expanding globally especially in the Asia Pacific and Middle East & Africa regions to leverage low-cost manufacturing andtap into the high growth potential markets. For instance, Wacker ChemieAG increased its production capacities in China and Malaysia.

Market Drivers

One of the key drivers for the low profile additives market is the rising automobile production globally. Low profile additives find major application in manufacturing of glass fiber reinforced polymer components used in vehicles. According to OICA, global motor vehicle production reached over 90 million units in 2021.

Market Restrains
Stringent environmental regulations regarding VOC emissions can restrain the growth of low profile additives market. Various countries and regions have restrictions on the usage of styrene monomer owing to its hazardous nature. This compels manufacturers to develop alternatives with low or zero VOC content.
Segment Analysis

The low profile additives market can be segmented based on type into polyester, vinyl ester, and others. Among these, the polyester segment dominates the market as it finds extensive use in automotive and construction applications. Polyester resins are the preferred choice due to their properties like strong bonding, corrosion resistance, and durability.

Global Analysis

Regionally, Asia Pacific is expected to be the fastest as well as dominant regional market during the forecast period. Countries like China, India, and Japan are major markets for low profile additives in the region. This is attributed to factors such as rapid industrialization, growth of the automotive industry, and increase in construction activities. Moreover, growing domestic demand and presence of key global players further drive the market in the Asia Pacific region. North America and Europe are also significant markets due to the developed end-use industries and focus on sustainable and durable materials.

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