The low profile additives market revolves around additives added to thermosetting polymers to reduce their viscosity, density, and shrinkage during curing or hardening. Some key applications of low profile additives include their use in automotive coatings, industrial coatings, decorative paints, and powder coatings. They are primarily utilized in solvent-borne and solventless coating systems to impart low viscosity and high casting thickness during the curing process. Growing automotive production and increasing regulations regarding VOC emissions from paints & coatings are bolstering the demand for low profile additives.
The Low Profile Additives Market size was valued at US$ 760.3 Million in 2023 and is expected to reach US$ 1,247.9 Million by 2031, growing at a compound annual growth rate (CAGR) of 6.4% from 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.
Some key opportunities in the Low Profile Additives Market Trends include increasing popularity of powder coatings, growing infrastructure sector in emerging nations, and rising industrial production across different sectors.
With strong presence across regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, the key players are expanding their global footprint through export, acquisitions and collaborations with regional market participants.
Market Drivers
Increasing demand from the paints & coatings industry is one of the major drivers for low profile additives market. Low profile additives find widespread usage in automotive coatings, industrial coatings and decorative paints to impart properties like low viscosity, high thickness and flat outlook. With automotive production growing worldwide along with infrastructure development activities, the demand for various paints & coating products is surging which is directly boosting the consumption of low profile additives.
PEST Analysis
Political: Government regulations on chemical usage and environmental regulations may affect the production and demand for low profile additives. Changes in trade policies across regions can impact import-export of low profile additives.
Economic: Market demand is dependent on growth in end use industries like automotive, construction, and electronics that employ low profile additives in manufacturing processes and products. Economic cycles influencing these industries directly impact the low profile additives market.
Social: Increasing consumer demand for lightweight and high-performance materials across industries drives the need for low profile additives. Rising environmental consciousness in society pushes manufacturers to reduce toxic emissions during production through adoption of low profile additives through Low Profile Additives Market News .
Technological: Advances in material science and additive formulation help lower viscosity and shrinkage during curing of resins and compounds. New production techniques aid in developing low profile additives with improved properties at reduced costs.
In terms of value, the largest share of the global low profile additives market is concentrated in North America and Europe owing to robust manufacturing industries. The Asia Pacific region is emerging as the fastest growing market for low profile additives with expanding end use sectors in countries like China, India, Japan, and South Korea driving increasing demand. Countries such as Thailand, Indonesia, Malaysia and Vietnam are also witnessing a growth in manufacturing which will boost the low profile additives requirement in the region.
The Middle East and Africa region is presenting new opportunities for low profile additives market players on account of growing infrastructure development projects, rapid industrialization, and upgrade of existing manufacturing facilities especially in GCC countries and South Africa. Countries in Latin America with strong automotive, aircraft, and construction industries like Brazil and Mexico offer scope for higher consumption of low profile additives over the forecast period.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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