Global Formulation Additives Market Overview
“The global Formulation Additives market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Formulation additives are substances that are added in small quantities to various formulations, including coatings, adhesives, and others in order to improve one or more properties of the material.
It is used to enhance performance and improve the processing characteristics and properties of materials. The major types of formulation additives are dispersing agents, rheology modifiers, defoamers, and others.
Global Formulation Additives Market Dynamics:
Rapid industrialization in developed and developing countries and increasing demand for formulation additives from various end-user industries are major factors expected to drive the growth of the global market.
In addition, increasing population in emerging countries and increasing construction and reconstruction activities, coupled with wide applicability of formulation additives such as in architectural coatings and building materials to optimize foam control, improve dispersing properties, and ensure better wetting are some other factors expected to drive the growth of the global market to a certain extent.
Moreover, increasing manufacturers' approach toward providing cost-effective solutions without compromising the performance of the product is another factor expected to support the growth of the market over the forecast period.
In addition, increasing the application of formulation additives in industries such as furniture & flooring, food & beverage, and oil & gas is another factor expected to support the growth of the global market.
However, fluctuating raw material prices are a major factor expected to hamper the growth of the global formulation additives market to a certain extent.
Increasing investment by major players for technological advancements and R&D activities is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period.
In addition, increasing strategic partnerships and agreements by major players in order to increase their revenue share in the market is expected to further support the growth of the market to a certain extent.
Global Formulation Additives Market Segment Analysis:
On the basis of the end-use industry, the construction segment is expected to register a significant share in terms of revenue over the forecast period. On the basis of type, the defoamers segment is expected to account for the highest share over the forecast period.
Global Formulation Additives Market Region Analysis:
Asia Pacific market is expected to witness faster growth in the global formulation additives market, owing to growing construction and transportation industries, increasing formulation additives manufacturing activities, and the presence of major players operating in the emerging economies in the region.
The markets in North America and Europe are expected to contribute significant revenue shares in the global market over the forecast period. This can be attributed to increasing demand from the food & beverage sector and the presence of prominent players operating in the countries in this region.
In addition, growing merger & acquisition activities among regional and international players are expected to further support the growth of the market in this region to a certain extent.
The market in Latin America is expected to witness moderate growth, owing to rising construction and development activities and the increasing presence of paint & coating manufacturers in developing countries such as Brazil and Argentina in this region.
Global Formulation Additives Market Segmentation:
- Rheology Modifiers
- Dispersing Agents
By End-Use Industry:
- Furniture & Flooring
- Food & Beverage
- Industrial and Oil & Gas
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- BASF SE
- Eastman Chemical Company
- Evonik Industries AG
- BYK Additives, Inc.
- The Dow Chemical Company
- Cabot Corporation
- Allnex Belgium SA
- MÜNZING Chemie GmbH
- Arkema S.A.
- Honeywell International Inc.
- Momentive Performance Materials Inc.
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