Formulation Additives Market Research Report – Forecast to 2030

Formulation Additives Market: Information by Type (Dispersing Agents, Rheology Agents, Wetting & Levelling Agents, and Film Forming Agents), End-Use Industry (Paints & Coatings, Construction, Automotive, Electronics), Region—Forecast till 2030

ID: MRFR/CnM/4878-HCR | February 2021 | Region: Global | 140 pages

Formulation Additives Market

Formulation Additives Market is projected to be worth USD 28,600 million by 2030, registering a CAGR of 5% during the forecast period (2022 - 2030).

Segmentation

Type Dispersing Agents Rheology Agents Wetting & Levelling Agents Film Forming Agents
End-Use Industry Paints & Coatings Construction Automotive Electronics

Key Players

  • BASF SE (Germany)
  • Eastman Chemical Company (US)
  • Evonik Industries AG (Germany)
  • Altana (Germany)
  • DowDuPont (US)
  • Cabot Corporation (US)
  • Allnex Group (Germany)
  • Arkema (France)
  • Momentive (US)
  • Münzing Corporation (Germany)
  • Lanxess (Germany)
  • and Honeywell International Inc. (US).

Drivers

  • Increasing use of these additives in major industries such as paints and coatings construction automotive electronics printing and packaging and furniture
Speak to Analyst Request a Free Sample

Formulation Additives Market Overview


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. These additives offer better pigment dispersion, improved slip, substrate wetting, levelling, anti-settling, and plasticizing characteristics.


The global formulation additives market is primarily driven by the increasing use of these additives in major industries such as paints and coatings, construction, automotive, electronics, printing and packaging, and furniture. Paints and coatings are used in almost every major industry and the demand for these additives in paints and coatings is driving market growth. These additives are used in architectural coatings for the protection of building structures and components. Rapid industrialization and urbanization in the emerging economies of Asia-Pacific have resulted in increased construction, which is also fueling market growth. Moreover, high production and sales of automobiles across the globe are expected to propel market growth during the forecast period. Additionally, the increasing demand for electronic devices such as laptops, gaming devices, and smartphones is expected to fuel product demand. This can be attributed to the changing lifestyles and high disposable incomes of consumers.


However, fluctuating raw material prices are likely to hamper market growth during the forecast period.


Market players are focusing on strategic developments such as product launches. For instance, in November 2017, Dow Performance Silicones, a business unit of DowDuPont Material Sciences Division, introduced a coating additive called Dow Corning 904H for architectural façade coatings that supports enhanced aesthetics for building exteriors and improves water resistance, repellency, and surface hydrophobicity. This additive has been designed to reduce the snail trail effect that occurs when ingredients in coating formulations leach to the surface. In another instance, BASF SE introduced a deformer named Efka PB 2744 for fast and effective deaeration of 100% solids coating systems in January 2016. This product provides excellent efficiency, long-term persistence, and effectiveness against macro and micro foam. 


Global Formulation Additives Market, by End-Use Industry (%)


Formulation Additives Market


Source: MRFR Analysis


Regional Analysis


The global formulation additives market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.


The market in Asia-Pacific dominated the global formulation additives market in 2017 due to the high demand in major end-use industries. Fast-paced industrialization in emerging economies such as China and India are expected to fuel product demand in the construction industry.


North America accounted for the second-largest market share in 2017 on account of the high demand for formulation additives in the automotive, electronics, and construction industries in the region.


The European market is expected to grow at a significant rate due to the high production and sales of automotive parts in the region.


The Latin American market is projected to witness considerable growth due to the growing automotive industries in Brazil and Argentina.


The market in the Middle East & Africa is also likely to grow due to the presence of infrastructure hubs in the region.


Segmentation


The global formulation additives market has been segmented on the basis of type, end-use industry, and region.


On the basis of type, the market has been segmented into dispersing agents, defoamers, rheology agents, wetting and levelling agents, and film forming agents.


By end-use industry, the market has been divided into paints and coatings, construction, automotive, electronics, printing and packaging, furniture, and others. 


Key Players


Some of the manufacturers operating in the global formulation additives market are BASF SE (Germany), Eastman Chemical Company (US), Evonik Industries AG (Germany), Altana (Germany), DowDuPont (US), Cabot Corporation (US), Allnex Group (Germany), Arkema (France), Momentive (US), Münzing Corporation (Germany), Lanxess (Germany), and Honeywell International Inc. (US).

Industry News

Milliken & Company, a materials science company, has acquired Borchers, a stalwart in the paints & coatings industry. The large portfolio of additives for coatings, inks, and adhesives as well as its large customer base will be a welcome addition for Milliken for enhancing its customer base.


Intended Audience



  • Formulation additives manufacturers

  • Traders and distributors of formulation additives

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   2022-2030: Substantial CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, End-Use Industry
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), Eastman Chemical Company (US), Evonik Industries AG (Germany), Altana (Germany), DowDuPont (US), Cabot Corporation (US), Allnex Group (Germany), Arkema (France), Momentive (US), Münzing Corporation (Germany), Lanxess (Germany), and Honeywell International Inc. (US).
  Key Market Opportunities   Rapid industrialization and urbanization in the emerging economies
  Key Market Drivers   increasing use of these additives in major industries such as paints and coatings, construction, automotive, electronics, printing and packaging, and furniture


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

Dispersing agents, rheology agents, wetting & levelling agents, and film forming agents are some of the major types of formulation additives. Paints & coatings, automotive, construction, and electronics are the major end-use industries of formulation additives.

Asia Pacific holds the largest share in the global formulation additives market followed by North America and Europe, respectively.

Eastman Chemical Company (US), BASF SE (Germany), Evonik Industries AG (Germany), DowDuPont (US), Altana (Germany), Cabot Corporation (US), Arkema (France), Allnex Group (Germany), Momentive (US), Lanxess (Germany), Münzing Corporation (Germany), and Honeywell International Inc. (US), are some of the leading players in the global formulation additives market.

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global formulation additives market adopt to gain a larger competitive advantage.