“Global Low Profile Additives Market to reach a market value of USD 978.9 Million by 2030 growing at a CAGR of 5.0%”
The Global Low Profile Additives Market size is expected to reach $978.9 million by 2030, rising at a market growth of 5.0% CAGR during the forecast period. In the year 2022, the market attained a volume of 315.79 kilo tonnes, experiencing a growth of 4.0% (2019-2022).
Due to its exceptional chemical resistance, HDPE is well-suited for applications in which harsh chemical exposure is a concern. Therefore, the high-density polyethylene (HDPE) segment captured 06.30% revenue share in 2022. In industries such as chemical processing, agriculture, and automotive, where chemical resistance is critical, this property is especially valuable. Additionally, HDPE is highly resistant to moisture, which makes it an ideal material for outdoor applications where moisture exposure is a concern.
According to the International Energy Agency, the global car sales in 2020 were 73 million. The IEA also stated that the sales of conventional cars in advanced and emerging and developed economies in 2022 were 16.1 million and 19 million, respectively. The sales of electric cars in the same year were reported to be 1.5 million in advanced economies and 3.8 million in emerging and developed economies.
Additionally Low profile additives are essential in achieving the desired weight reduction without compromising on the strength and durability of automotive components. Hence, the expansion of the automotive industry, particularly in regions like Asia-Pacific and Europe, is expected to drive the demand for low profile additives in the coming years.
However, in industries where margins can be tight and competition is fierce, any increase in production costs, including the cost of additives, can significantly impact the final product price. This can make it challenging for companies to remain competitive, especially if competitors can offer similar products at a lower cost. Thus, these factors may hamper the growth of the market.
Based on product, the low profile additives market is characterized into polyvinyl acetate (PVAc), polymethyl methacrylate (PMMA), polystyrene (PS), polyurethane (PU), and high-density polyethylene (HDPE). The polyvinyl acetate (PVAc) segment garnered 40.29% revenue share in 2022. PVAc is utilized in construction materials like sealants, adhesives, and paints as a low-profile additive. Additionally, it finds extensive application in woodworking adhesives owing to its exceptional adhesion characteristics and resistance to water.
By application, the low profile additives market is divided into shrink & bulk molding compounds (SMC/BMC), pultrusion, resin transfer molding, and others. The pultrusion segment captured 23.91% revenue share in 2022. Low profile additives can improve the processability of pultruded profiles, making them easier to manufacture and reducing the likelihood of defects. This can lead to increased production efficiency and cost savings for manufacturers.
Free Valuable Insights: Global Low Profile Additives Market size to reach USD 978.9 Million by 2030
Region-wise, the low profile additives market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 24.70% revenue share in the low profile additives market in 2022. North America is experiencing growth in construction and infrastructure development, driving the demand for low profile additives used in construction materials such as composites, sealants, and coatings.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 666.4 Million |
| Market size forecast in 2030 | USD 978.9 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.0% from 2023 to 2030 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Number of Pages | 326 |
| Number of Tables | 570 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Application, Region |
| Country scope |
|
| Companies Included | Wacker Chemie AG, INEOS Group Holdings S.A., BASF SE, LyondellBasell Industries Holdings B.V., Ashland Inc., Arkema S.A., Evonik Industries AG (RAG-Stiftung), Taak Resin Co., AOC, LLC, Synthomer PLC |
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Million, 2019-2030)
This Market size is expected to reach $978.9 million by 2030.
Increasing use of composites are driving the Market in coming years, however, High cost of low profile additives restraints the growth of the Market.
Wacker Chemie AG, INEOS Group Holdings S.A., BASF SE, LyondellBasell Industries Holdings B.V., Ashland Inc., Arkema S.A., Evonik Industries AG (RAG-Stiftung), Taak Resin Co., AOC, LLC, Synthomer PLC
In the year 2022, the market attained a volume of 315.79 kilo tonnes, experiencing a growth of 4.0% (2019-2022).
The Shrink & Bulk Molding Compounds (SMC/BMC) segment is leading the Market by Application in 2022; there by, achieving a market value of $481.6 million by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $480.2 million by 2030.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 