The North America Low Profile Additives Market would witness market growth of 4.2% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 65.99 kilo tonnes, showcasing a growth of 3.6% (2019-2022).
Styrene maleic anhydride (SMA) is widely used as an LPA to enhance the adhesion between the polymer matrix and reinforcing fibers. SMA reduces fiber print-through and improves the surface finish of thermoplastic composites, making it ideal for applications where aesthetics is important.
Additionally, Maleic anhydride grafted polymers or MA-grafted polymers enhance the mechanical properties of thermoplastic composites, making them more durable and impact-resistant. They are often used in applications requiring high strength and toughness, such as construction materials and sporting goods.
According to the International Trade Administration (ITA), Mexico is the seventh-largest passenger vehicle manufacturer, producing 3.5 million vehicles annually. 88% of vehicles produced in Mexico are exported. Additionally, the production of EVs and hybrids totaled 51,065 units in 2022, representing a growth of 8.5 percent compared to 2021.
The US market dominated the North America Low Profile Additives Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $157,450.5 Thousands by 2030. The Canada market is exhibiting a CAGR of 6.4% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 5.5% during (2023 - 2030).
Free Valuable Insights: The Low Profile Additives Market is Predict to reach USD 978.9 Million by 2030, at a CAGR of 5.0%
Based on Application, the market is segmented into Shrink & Bulk Molding Compounds (SMC/BMC), Resin Transfer Molding, Pultrusion, and Others. Based on Product, the market is segmented into Polyvinyl Acetate (PVAc), Polymethyl Methacrylate (PMMA), Polystyrene (PS), Polyurethane (PU), and High-density Polyethylene (HDPE). Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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