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Increasing use of formulation additives in construction and transportation industries, rising demand for formulation additives in oil & gas

NEW YORK, NY, UNITED STATES, January 13, 2022 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global Formulation Additives Market was valued at USD 20.56 Billion in 2018 and is expected to reach USD 33.34 Billion by year 2026, at a CAGR of 6.2 %. Formulation additives are extensively used to adjust the qualities of the adhesive formulation, which helps in improving the efficiency, durability and appearance of the product. Formulation additives are also used to enhance the building structures and reduce the need for maintenance. They are widely used in adhesive and sealant application. The demand for formulation additives is rapidly increasing due to its increasing use in number of industries. The global formulation additives market is propelled by number of factors such as increasing use of formulation additives in construction and transportation industries, rising demand for formulation additives in oil & gas manufacturing, food &   beverage. However, increasing prices of raw materials is a major hindrance for the growth of global formulation market.

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Major Companies Operating in the industry and profiled in the report are:

BASF, Eastman, Evonik, BYK Additives, Dow, Cabot, Allnex, Münzing, Arkema, Honeywell, Momentive

Further key findings from the report suggest:

Rheology modifiers are important additives used in almost every coating to achieve desired rheological characteristics for the particular application. Apart from getting desired viscosity, these additives also help in controlling paint shelf stability, ease of application, open time / wet edge and sagging
Rheology modifiers are further segmented into organic and inorganic rheologic modifiers. Usually organic rheology modifiers are surface active and they may be part of the polymeric film matrix during film-formation. Organoclays, organically modified laminar silicates, are the most widely used inorganic Rheology modifiers and are being applied for various purposes in the paint and coating industry
Defoamers are widely used due to its ability to suppress and destroy foam and its negative effects prior to and during application of a coating. By removing or inhibiting air bubbles they are vital process aids throughout the paint production, as well as the application process
Dispersing Agents are usually used to wet and stabilize pigments and other particles within paints, coatings and ink formulations. For formulators they represent an important component as they provide color strength, gloss, viscosity stability and prevent sedimentation of particles
On the basis of type, the global formulation additives market is segmented into rheology modifiers, defoamers, dispersing agents and others. Rheology modifiers is anticipated to have the largest market share with a CAGR 6.7% in the global formulation additives market. Rheology modifiers help in controlling paint shelf stability, ease of application, open time / wet edge and sagging. They further influence leveling, settling and film forming. Depending on rheology modifiers features and required adjustments, they are added to the mill-base or during let-down
In terms of region, Asia Pacific has the largest market share and is also the fastest growing market with a CGAR 6.8% in the global formulation additives market due to increasing use of formulation additives in various industries, such as construction, transportation, and furniture & flooring

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The global materials & chemicals industry has gained major momentum over recent years, owing to many favorable factors. Major factors contributing to industry revenue growth include rise in global populace and rapid surge in demand for essential consumer goods including soaps, detergents, personal care & hygiene products, cosmetics, and other consumer products. Other factors driving industry revenue growth are extensive use of raw materials & chemicals in various industries including buildings & construction, agriculture, food & beverage, power & energy, pulp & paper, textile, automotive, and consumer goods industries, rising environmental awareness among consumers worldwide, growing demand for eco-friendly and sustainable materials and chemicals, and rising demand for organic, high-performance chemicals.

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Market segmentation based on Product Type:
Defoamers
Rheology modifiers
Others

Market segmentation based on End Use:
Construction
Industrial & Oil & Gas
Transportation
Furniture & Flooring
Food & Beverage
Others (pharmaceutical, printing, cosmetics)

The regional analysis covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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