Low Profile Additives Market to surpass USD 1.1 Billion by 2032, Says Global Market Insights inc.

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Low Profile Additives Industry size is expected to register 6.6% CAGR between 2024 and 2032 propelled by increasing demand in automotive sector.

Selbyville, Delaware , June 18, 2024 (GLOBE NEWSWIRE) — Low Profile Additives Market value could exceed USD 1.1 billion by 2032, as per a recent study by Global Market Insights Inc.

The Low Profile Additives (LPA) market is witnessing increasing demand, driven by increasing government-backed sustainability initiatives promoting environmentally friendly products. As global concerns about climate change and environmental degradation intensify, governments are actively encouraging the use of less potent additives to reduce carbon dioxide and increase the sustainability of businesses.

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For instance, in March 2024, The EU-funded MMATOO project aimed to demonstrate innovative technologies to recycle polymethyl methacrylate (PMMA) waste into a material suitable for secondary life. Through innovative depolymerization processes the project recycles PMMA waste products hard, which will usually end up in landfills or incinerators, for higher quality raw materials. Furthermore, The demand for lightweight yet high-performance materials for the automotive, aerospace, and construction industries is on the rise, driving the market growth.

Polystyrene to register high demand

Low profile additives market size from the polystyrene segment could exhibit a commendable growth rate over 2024-2032, claims the report. Polystyrene, a widely used thermoplastic polymer known for its versatility and low cost benefits from the addition of LPA, as it provides the material mechanical strength and surface finish. LPA helps to provide polystyrene-based materials with reduced shrinkage, warpage, and surface defects, improving their overall quality and performance. As the demand for high-quality, visually appealing products increases in industries such as packaging, construction, and automotive, so does the demand for polystyrene.

Resin transfer molding (RTM) to gain prominence

Resin transfer molding (RTM) segment will register a noteworthy CAGR from 2024 to 2032, as per the report. RTM offers advantages such as increased design flexibility, reduced cycle time, and improved part quality, making it a desirable design for the production of complex composite. LPAs improve resin flow and reduce surface defects, thus leading to better flow. As the automotive, aerospace, and wind energy industries increasingly turn to RTM for lighter and more efficient materials, the demand for LPAs to optimize this process will continue to grow.

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North America to garner significant revenue

North America low profile additives market will register a robust CAGR from 2024 to 2032. Industries such as automotive, construction, and marine rely heavily on composite materials, where LPAs play a crucial role in increasing performance and efficiency. The adoption of LPAs in manufacturing processes is accelerating due to the rising focus on lightweight, fuel-efficient, and durable functionalities. Furthermore, stringent environmental regulations and a strong emphasis on product quality are driving the demand for LPA in North America. As industries strive for innovation and competition, the LPA market in the region remains dynamic and promising.

Low Profile Additives Market Players

Celanese Corporation, Eastman Chemical Company, Interplastic Corporation, LG Chem Ltd., BASF SE, Dow Chemical Company, Arkema, Evonik Industries AG, Mitsubishi Chemical Corporation, Polynt-Reichhold Group, AOC Aliancys, Ashland Global Holdings Inc.

The companies specializing in this market have created a demand for low-profile additives (LPAs) through continuous efforts. Through research and development programs, companies are constantly innovating to enhance the performance and versatility of LPAs. By working with manufacturers across industries, various solutions are adapted for specific application needs, leading to growth. Additionally, strategic marketing campaigns highlighting the benefits of LPA, are further driving the demand.

In April 2023, at the Chinaplas 2023 exhibition in Shenzhen, China, Clariant showcased its diverse range of additive solutions that contribute to a brighter future for the plastics industry. Among the highlights at the Clariant booth was AddWorks PKG 158, which significantly enhanced packaging performance.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

CONTACT: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: [email protected]

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