Formulation Additive Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Formulation Additive Market Analysis
The formulation additive market is expected to register a CAGR of more than 4%, globally, during the forecast period. Formulation additives are used in small quantities to improve or modify the properties of various formulations. The use of formulation additives enhances the performance and improves the processing characteristics and properties of the materials. The increase in demand from the construction and transportation sectors has been driving the market growth.
However, the fluctuating raw material prices and the outbreak of coronavirus across the world are likely to hinder the growth of the studied market.
The R&D in innovative adjuvant technologies for developing innovative formulation additives is likely to provide opportunities for the formulation additive market over the next five years.
Asia-Pacific dominated the market worldwide, with increasing consumption from countries, like China and India.
Formulation Additive Market Trends
This section covers the major market trends shaping the Formulation Additive Market according to our research experts:
Construction Sector to Dominate the Market
- The construction sector stands to be the dominating segment, owing to the increasing construction and reconstruction activities, coupled with wide applicability of formulation additives.
- These additives offer numerous advantages, such as improved slip, substrate wetting, better pigment dispersion, anti-settling, and plasticizing characteristics.
- Formulation additives are utilized in the construction industry for several applications, such as architectural coatings and building materials, to optimize foam control, improve dispersing properties, and ensure better wetting, which, in turn, may drive the demand for formulation additives in the construction industry.
- Rising standards of living and customer preferences for attractive homes and commercial spaces are leading to the increasing demand for formulation additives used in the construction industry, as they help enhance the building structures and reduce the need for maintenance.
- All the aforementioned factors are expected to drive the formulation additive market during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific is expected to be the largest and fastest-growing market over the forecast period, owing to robust demand from the construction and transportation industries, particularly in emerging countries, such as India and China.
The established industrial base and chemical manufacturing are expected to support the growth in the region.
Increasing demand for rheology modifiers, as they are essential additives employed in almost every coating to achieve desired rheological characteristics, help in controlling paint shelf stability, ease of application, open time wet edge, and sagging. Thus, these modifiers are likely to drive the demand for formulation additives over the forecast period.
Asia-Pacific provides expansion opportunities for formulation additive manufacturers, owing to the low cost of manufacture and a smaller number of regulations related to the use and manufacture of formulation additives in China, South Korea, and India. The ASEAN countries are also the emerging markets for formulation additives, owing to the increasing foreign investments in the manufacturing sector.
Hence, such market trends are expected to drive the demand for formulation additives in the region during the forecast period.
Formulation Additive Industry Overview
The formulation additive market is fragmented in nature, with few major players dominating a significant portion of the market. Some of the major companies are BASF SE, Eastman Chemical Company, BYK (A member of ALTANA), Dow, and Honeywell International Inc.
Formulation Additive Market Leaders
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BASF SE
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Eastman Chemical Company
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BYK (A member of ALTANA)
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Dow
-
Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
Formulation Additive Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increase Demand from Construction and Transportation Industries
- 4.1.2 Other Drivers
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4.2 Restraints
- 4.2.1 Fluctuating Raw Material Prices
- 4.2.2 Unfavorable Conditions Arising Due to COVID-19
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 Defoamers
- 5.1.2 Rheology
- 5.1.3 Modifier
- 5.1.4 Dispersing Agents
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5.2 End-user Industry
- 5.2.1 Construction
- 5.2.2 Transportation
- 5.2.3 Automotive
- 5.2.4 Oil and Gas
- 5.2.5 Food and Beverage
- 5.2.6 Electronics
- 5.2.7 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Arkema
- 6.4.2 BASF SE
- 6.4.3 BYK (A member of ALTANA)
- 6.4.4 Cabot Corporation
- 6.4.5 Dow
- 6.4.6 Eastman Chemical Company
- 6.4.7 Evonik Industries AG
- 6.4.8 Honeywell International Inc.
- 6.4.9 Huntsman International LLC
- 6.4.10 LANXESS
- 6.4.11 Momentive
- 6.4.12 MÜNZING Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 R&D in Innovative Adjuvant Technologies for Developing Innovative Formulation Additives
- 7.2 Other Opportunities
Formulation Additive Industry Segmentation
The scope of the formulation additive market report includes:
| Type | Defoamers | |
| Rheology | ||
| Modifier | ||
| Dispersing Agents | ||
| End-user Industry | Construction | |
| Transportation | ||
| Automotive | ||
| Oil and Gas | ||
| Food and Beverage | ||
| Electronics | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Formulation Additive Market Research FAQs
What is the current Formulation Additive Market size?
The Formulation Additive Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Formulation Additive Market?
BASF SE, Eastman Chemical Company, BYK (A member of ALTANA), Dow and Honeywell International Inc. are the major companies operating in the Formulation Additive Market.
Which is the fastest growing region in Formulation Additive Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Formulation Additive Market?
In 2024, the Asia Pacific accounts for the largest market share in Formulation Additive Market.
What years does this Formulation Additive Market cover?
The report covers the Formulation Additive Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Formulation Additive Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Formulation Additive Industry Report
Statistics for the 2024 Formulation Additive market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Formulation Additive analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
