Formulation Additives Market Segmentation, Outlook to Reach USD 33.34 Billion by 2027

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Growing use of formulation additives in construction and transportation industries, growing demand for formulation additives in oil and gas

NEW YORK, NY, USA, Jan. 13, 2022 /EINPresswire.com/ — According to current reports and data analysis, the global formulation additives market was valued at USD 20.56 billion in 2018 and is expected to reach USD 33.34 billion by 2026, at a CAGR of 6.2%. Formulation additives are widely used to adjust the qualities of the adhesive formulation, which helps to improve the effectiveness, durability and appearance of the product. Formulation additives are also used to improve building structures and reduce the need for maintenance. They are widely used in the application of adhesives and sealants. The demand for formulation additives is increasing rapidly due to its increasing use in a number of industries. The global formulation additives market is propelled by a number of factors such as increasing usage of formulation additives in construction and transportation industries, growing demand for formulation additives in petroleum manufacturing and gas, food and drink. However, rising raw material prices are a major impediment to the growth of the global formulation market.

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The major companies operating in the industry and profiled in the report are:

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

Other key findings from the report suggest:

Rheology modifiers are important additives used in almost all coatings to achieve the desired rheological characteristics for the particular application. In addition to achieving the desired viscosity, these additives also help control paint stability, ease of application, open time/wet edge and sag.
Rheology modifiers are further segmented into organic and inorganic rheology modifiers. Usually, organic rheology modifiers are surfactant and can become part of the polymer film matrix during film formation. Organoclays, organically modified laminar silicates, are the most widely used inorganic rheology modifiers and are applied for a variety of purposes in the paints and coatings industry.
Defoamers are widely used because of their ability to suppress and destroy foam and their negative effects before and during the application of a coating. By eliminating or inhibiting air bubbles, they are essential process aids throughout paint production, as well as the application process.
Dispersing agents are generally used to wet and stabilize pigments and other particles in paints, coatings and ink formulations. For formulators, they represent an important component as they provide color strength, gloss, viscosity stability and prevent particle settling.
On the basis of type, the global formulation additives market is segmented into rheology modifiers, defoamers, dispersants and others. Rheology modifiers are expected to hold the largest market share with a CAGR of 6.7% in the global formulation additives market. Rheology modifiers help control paint stability, spreadability, open time/wet edge and sag. They also influence leveling, sedimentation and film formation. Depending on the characteristics of the rheology modifiers and the adjustments required, they are added at the base of the mill or during settling
In terms of region, Asia-Pacific holds the largest market share and is also the fastest growing market with a CGAR of 6.8% in the global formulation additives market due to the use growth of formulation additives in various industries, such as construction, transport and furniture. ground

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The global materials and chemicals industry has experienced significant growth in recent years, thanks to many favorable factors. Major factors contributing to the industry’s revenue growth include increasing global population and rapidly increasing demand for essential consumer goods including soaps, detergents, personal care products and hygiene, cosmetics and other consumer products. Other factors driving the industry revenue growth are heavy use of raw materials and chemicals in various industries including buildings and construction, agriculture, food and beverages , power and energy, pulp and paper, textiles, automotive and consumer goods. worldwide, a growing demand for environmentally friendly and sustainable materials and chemicals, and a growing demand for high-performance organic chemicals.

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Market segmentation based on product type:
Defoamer
Rheology modifiers
Others

Market segmentation based on end use:
Construction
Industrial & Oil & Gas
Transport
Furniture and flooring
food and drinks
Others (pharmacy, printing, cosmetics)

The regional analysis covers:
North America (United States, Canada, Mexico)
Europe (UK, 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 and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)

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