LOW PROFILE ADDITIVES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Low Profile Additives Market Size and Trends

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.

Low Profile Additives Market Trends:

• Rising demand for powder coatings:  The rising demand for powder coatings globally has significantly influenced the low profile additives market in recent years. Powder coatings have gained widespread preference over wet paints owing to their various advantages such as zero volatile organic compound emissions, ability to coat intricate components with uniform thickness and texture and increased durability. As powder coating production and use has ramped up significantly, the need for effective low profile additives to ensure a smooth appearance of the finished coating has also rose markedly. Low profile additives are additives that are added to powder coatings to minimize or hide minor surface imperfections and create a smooth appearance in the final cured powder coating film. They essentially help reduce the coating's visibility making any minor surface defects or irregularities much less noticeable to the human eye. With powder coatings being increasingly used across several end-use industries like automotive, appliances, furniture etc. to coat a variety of interior and exterior parts, the demand for effective low profile additives from powder coating manufacturers has also increased considerably. For Instances, According to the statistics by European Automobile Manufacturers Association, on 2021, the production and sales of electric as well as conventional vehicles across major European markets grew by 25% year-over-year in 2021.
• Focus on product innovation with enhanced properties: Focus on product innovation with enhanced properties has been a major trend influencing the low profile additives market. Manufacturers in this space have been devoting significant resources to research and development to discover new formulations that can deliver superior performance characteristics. A prime example is the development of low viscosity additives combining reactive monomers and functional polymers. These innovative solutions help achieve excellent leveling and sag resistance along with outstanding dry hide capabilities. They allow paints and coatings to be applied more thinly and smoothly while maintaining an even appearance. This fits well with the practical needs of both industrial and do-it-yourself users who want maximum coverage from less material. New bio-based options utilizing renewable plant-derived components have also gained traction in sustainability-conscious markets. Notable here is a European supplier's line of low-odor, low-VOC rheology modifiers created from annually replenished vegetable oil feed stocks rather than traditional petrochemicals. Independent assessments by a UN environmental program found the bio-additives significantly reduced fossil resource usage and carbon footprint over conventional formulations in several applications tested.