Sarasota, FL -- (SBWIRE) -- 10/20/2018 -- Global Formulation Additives Market: Overview
Substances that are used in small amounts for formulations, such as adhesives, coatings, etc., to modify or improve one or more characteristics are called formulation additives. The global growth of the formulation additives market can be attributed to the growth of various industries, such as construction, industrial and oil and gas, furniture and flooring, etc. These industries primarily add these additives, as they improve the processing properties and characteristics of various materials and enhance performance.
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Global Formulation Additives Market: Growth Factors
The major growth driver in the global formulation additives market is the increase in the demand for formulation additives by the construction and transportation industries. Due to an increase in the manufacturing of oil and gas and furniture and flooring in developing countries, like India, China, Brazil, etc., the demand for formulation additives is rising. This further fuels the growth of the global formulation additives market. Developing economies are expected to emerge as the largest and fastest growing markets for formulation additives, due to rapid industrialization and increase in the number of construction activities and infrastructural projects. Owing to the additives' characteristics, such as good substantivity, optimum depth, and better lightfastness, formulation additives play an important role in various coating applications. Thus, these are some of the factors that are driving the growth of the market for formulation additives on a global scale.
Global Formulation Additives Market: Segmentation
The global formulation additives market can be divided based on type and end-users. On the basis of type, the formulation additives market can be segmented into defoamers, dispersing agents, and rheology modifiers, among others. Based on end-users, the formulation additives market can be classified into construction, furniture and flooring, food and beverage, industrial and oil and gas, and transportation, among others (cosmetics, printing, pharmaceutical, etc.) The construction industry is the largest end-user of formulation additives, as they are used in this industry for various applications, such as improving dispersing properties, ensuring better wetting, etc.. The formulation additives offer improved slip, leveling, and plasticizing properties, among other benefits.
Global Formulation Additives Market: Regional Analysis
Based on regions, the global market for formulation additives can be divided into five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The Asia Pacific region is anticipated to be the fastest growing market for formulation additives market in the upcoming years. This is due to the expansion of the transportation and construction industries in the region, especially the developing countries like India and China. Furthermore, an increase in manufacturing activities in this region is also increasing the popularity of the formulation additives market. In the Latin American region, there is a rapid growth regarding infrastructural activities and construction projects in the developing countries, which is anticipated to fuel the growth of the formulation additives market. Thus, this region is expected to show a good growth potential in the upcoming years.
Global Formulation Additives Market: Competitive Players
The key market players of the global market for formulation additives include Huntsman, Honeywell International, Munzing Corporation, Momentive Performance Materials, Arkema, Allnex Group, Cabot Corp., Dow, BYK Additives, Altana, Evonik Industries, Eastman, Lanxess, Cytec, Michelman, and BASF, among several others.
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Global Formulation Additives Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa