Formulation Additives Market After increasing at a CAGR of 5.2 percent from 2020 to 2025, the market is expected to reach $27.73 billion by 2025. Rapid industrialization and rising demand for formulation additives from a variety of consumer sectors are expected to propel global market expansion in both developed and developing countries. Furthermore, the growing population of developing countries, as well as increased building and renovation operations, as well as the wide applicability of formulation additives such as architectural coatings and building materials, are expected to contribute to the global industry’s development in some ways, improve dispersal properties, and ensure a better environment.
Important Points to Remember
• Given the expanding growth and construction activities in developing countries such as Brazil and Argentina, as well as the growing presence of painting and coating enterprises in this region, demand in Latin America is predicted to grow moderately.
• The global market for formulation additives is increasing at a decent rate as a result of the increasing use of such compounds by various companies. The primary goal of these additives is to improve the characteristics and processing qualities of the items utilised in them. The demand for such additives often skyrockets in the coatings and paints industries, boosting corporate growth even further.
• Formulation additives are in high demand due to their widespread use in a variety of industries. The global market for formulation additives is growing for a variety of reasons, including increased use of wording additives in the construction and transportation industries, rising demand for oil & gas, and food & beverage additives.
• Due to COVID-19 and rigorous control rules that have severely hampered all kinds of business, most of 2020 will be spent with disruptions to industry and economic activity.
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Drivers – Formulation Additives Market
● Demand is increasing, and investment is increasing as well.
The increasing dedication of manufacturers to provide cost-effective solutions without compromising product quality is expected to boost demand growth over the forecasted timeframe. The growing use of formulation additives by industries such as furniture & flooring, food & beverages, and oil & gas is likely to support global market growth. During the forecast period, increased spending by leading players on technological advancements and research & development operations would generate new sales opportunities for companies in the target market. Furthermore, important firms are expected to expand their strategic alliances and deals in order to increase their market share, which is expected to result in some business development.
Challenges – Formulation Additives Market
● Fluctuating raw material prices are projected to impede the global formulation additives market’s growth to some extent.
Producers are continually being pressured to deliver high-performing and cost-effective products, as well as rising commodity costs, in order to be a key competitor in the market for formulation additives. Specific producers invest heavily in manufacturing high-performance and cost-effective items for clients in order to remain competitive on the market as the industry’s leading players allow for diverse advances. In the sector, there is a wide range of formulation additives to choose from. The need for the additional formulation is met by major corporations, whose product lines continue to expand and strengthen, making it impossible for small businesses to compete.
● Market Landscape
The Formulation Additives Market’s primary tactics are technology launches, acquisitions, and R&D efforts. In 2019, the Formulation Additives market was concentrated by the top ten seven players, who held XX percent of the market share. The following are the major players in the Formulation Additives Market: BASF SE, Eastman Chemical Company, Evonik Industries AG, BYK Additives, Dow Chemical Company, Cabot Corporation, ALLNEX NETHERLANDS B.V., Münzing, Momentive Performance Materials, Arkema, Honeywell, and among other.
● Coverage of the Report
IndustryARC’s “Formulation Additives Market – Forecast (2020-2025)” provides an in-depth analysis of the Formulation Additives Industry’s following segments.
By Product Type: Rheology Agents, Defoamers, Dispersing Agents, Wetting Agents, Levelling Agents and Others.
By Application: Construction, Transportation, Furniture & Flooring, Food & Beverage, Industrial & Oil & Gas, and Others.
By Geography: North America, South America, Europe, APAC, Middle East and Africa.
Product launches/acquisitions:
● Dow Corning 904H, a coating additive for architectural façade coatings, was introduced in November 2017 by Dow Performance Silicones, a business unit of DowDuPont Material Sciences Division, to support enhanced aesthetics for building exteriors while also improving water resistance, repellency, and surface hydrophobicity.
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