The global low profile additives market is likely to acquire strong growth, at an estimated compound annual growth rate of 14.1% during the period from 2022 to 2032. By the end of 2032, it is likely to attain a value of nearly US$ 2.24 billion, from US$ 607 million in 2022.
Low-profile additives are specialty chemicals used to enhance the performance and aesthetics of composite materials in a variety of industries. These additives enhance surface quality through shrinkage reduction and superior dimensional stability of the composite. A smooth finish and accurate molding in final products define a variety of industries, including automotive, construction, aerospace, and electronics, which also depend on low-profile additives.
Market Insights
Recent trends depict that there is growing demand for low profile additives, since they help in reducing warpage and enhancing surface characteristics of various composite materials. Currently, their inclusion in a variety of formulations by manufacturers to realize high-quality products with enhanced service life has been on the rise. The development of eco-friendly additive options is another consequence of advancement in additive technology that meets both the regulatory requirements and the needs of the end user on sustainability.
Looking forward, the low-profile additives market is optimistic that it would experience tremendous growth in the wake of ever-expanding applications in lightweight construction materials and high-performance composites. The low profile additives market will be favored by industries' preferences toward light weighting and material-efficient products, thus pushing the demand for newer additives that can configure composite properties optimally. Emerging economies, especially in the Asia-Pacific and Latin American regions, are attractive markets for expansion as a result of rapid industrialization and infrastructure development.
Market Demand
The primary demand driving low profile additive applications is their critical role of imparting dimensionally stable and aesthetically pleasing properties in composite materials. For example, automobile manufacturers use these additives to manufacture smooth surface finishes, which enhance the paintability of exterior panels. Similarly, in the construction industry, low profile additives are used to enhance the weatherability and durability of composite building materials in order to extend product life, hence reducing maintenance expenses.
List of Key Companies Profiled in The Report
Momentive Specialty Chemicals Inc.
Arkema
Ashland Inc.
Mechemco Group
Cray Valley
Swancor Ind. Co. Ltd.
Reichhold Chemicals Inc.
Command Chemical Corp.
Others
Market Growth
The low profile additives market is undergoing robust growth due to the new developments in polymer science and manufacturing technologies. Additive formulations have witnessed new innovative changes, which made it possible for the manufacturers to provide enhanced performance and compatibility with a greater portfolio of resins and fibres. Another key factor fueling the use of additive manufacturing processes includes the fast-growing demand for specialized low profile additives enabling appropriate moulding and dimensional accuracy in complex geometries.
Recent Key Development
Some of these key trends that will shape the landscape of the low-profile additives market in the next few years incude the launch of next-generation additives with improved stability to fight UV degradation and weathering. There are also new applications that companies are focusing on for low-profile additives in the nascent domains of renewable energy and marine composites. In this regard, initiatives taken by various regulators for sustainable materials and a continuous reduction of carbon footprint are the main factors that shape strategies for the development of products. This also propels innovation in the formulation of low-profile additives and in manufacturing processes.
Competitive Landscape
Most of the market participants in the low profile additives sector have large production capacities and global distribution networks. In order to further enhance their market presence, manufacturers are developing new products and entering into strategic expansions through mergers and acquisitions.
This is also evident in 2020, wherein Gazechim Composites works with Polynt-Reichhold Group in supplying materials for unsaturated polyester, gel coats, and adhesives. This should certainly be achieved by Polynt-Reichhold Group's enhanced market distribution throughout Europe, which reinforces the dynamic demand for such low profile additives worldwide.
