Low Profile Additives Market Size, Share & Trends Analysis Report By Product (Polyvinyl Acetate, Polymethyl Methacrylate, Polystyrene, High Density Polyethylene, Polyurethane), By Function, By Application, And Segment Forecasts, 2023 - 2030

Low Profile Additives Market Size, Share & Trends Analysis Report By Product (Polyvinyl Acetate, Polymethyl Methacrylate, Polystyrene, High Density Polyethylene, Polyurethane), By Function, By Application, And Segment Forecasts, 2023 - 2030

Low Profile Additives Market Growth & Trends

The global low-profile additives market size is expected to reach USD 1.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2023 to 2030. Growing demand for low shrinkage and surface-finished plastic products is likely to drive the demand for low-profile additives (LPA).

Due to the growing automotive sector in North America and Asia Pacific, it is projected that demand for low-profile additives would increase significantly in the future years. The market for low-profile additives is anticipated to develop as a result of an increase in the use of low-profile additives in under-the-hood components, lighting systems, and headlamp reflectors. On the negative side, over the foreseeable period, growth is anticipated to be hampered by price fluctuations in raw materials. An increase in the cost of production due to rising production costs could have an impact on LPA pricing.

Over the projection period, demand for polystyrene products is likely to be driven by its low cost per unit weight. The need for low-profile additives is anticipated to increase as SMC and BMC applications rise along with the building sector's demand. Building and construction, electronics and electrical, home and household appliances, and the industrial sector are just a few of the markets that employ polystyrene LPAs. The desire for polystyrene goods is anticipated to increase in the near future due to end-use industries' growing demand for low-shrinkage products.

Growing demand for sheet and bulk molding compounds is a key factor driving the growth of the LPA market. Despite having a similar composition, Sheet Molding Compounds (SMC) and Bulk Molding Compounds (BMC) are treated in distinct ways. Similar two-part processes for molded pieces are used in both of these composites' production technologies. Low-profile additives are used in resin premixes to reduce heat contraction and polymerization shrinkage. The end products from this applications-composite parts-compete with steel components in terms of their mechanical qualities, guarantee pronounced chemical and corrosion resistance and permit a high degree of design freedom. Given the longer fibers used in this method, SMCs guarantee greater mechanical qualities. On the other hand, BMCs impart several essential advantages to the composite materials such as better flow and temperature resistance as compared to SMC owing to the shorter fibers and higher filler content.

Low Profile Additives Market Report Highlights

• Asia Pacific led the low-profile additives market during the forecast period. China is the fastest-growing country on account of the growing automotive industry
• The polyvinyl acetate segment is fueling the market growth owing to its improved surface finish and low shrinkage properties
• Demand for low-profile additives is anticipated to witness significant growth over the coming years on account of rising demand for the automotive industry in Asia Pacific and North America. Advantageous properties such as low shrinkage and smooth surface are the major factors behind the increasing application of low-profile additives in automotive
• Anti-shrinkage emerged as the major function of low-profile additives in 2022. The shrinkage occurring during the curing process leads to a poor surface finish
• The sheet and bulk molding compounds segment accounted for a revenue share of over 52.0% in 2022 and is expected to grab a share of 55.0% by 2030 at a CAGR of 9.1%. The sheet and bulk molding compounds are Fiber-reinforced Polyester (FRP) composites that can be molded into parts for applications in the automotive, appliance, electrical, and construction industries. Low Profile Additives (LPA) are a necessary ingredient in the resin mixture during SMC/BMC process as it helps in improving surface smoothness and controlling shrinkage resulting from molding the finished part
• In September 2022, Polynt S.p.A. displayed Polynt A 6125 IAH, a new low-profile additive with superior surface quality, dimensional stability even at room temperature cure, and quick demolding. Its shrinkage control system enables the additive to help the resin achieve dimensional stability