Formulation Additives Market by Type (Defoamers, Rheology Modifiers, Dispersing Agents), End Use Industry (Construction, Transportation, Industrial and Oil & Gas, Food & Beverage, Furniture & Flooring), and Region - Global Forecast to 2023
The formulation additives market is estimated at USD 20.62 billion in 2018 and is expected to reach USD 27.86 billion by 2023, at a CAGR of 6.2% between 2018 and 2023. Formulation additives are substances that are added in small quantities to formulations, including coatings, adhesives, and others, to improve or modify one or more properties. The objective of using these additives is to enhance performance and improve the processing characteristics and properties of materials. The major types of formulation additives are dispersing agents, rheology modifiers, defoamers, and others. Increasing demand from end-use industries of formulation additives such as construction, transportation, industrial and oil & gas, furniture & flooring, and others is driving the demand for formulation additives. The global formulation additives market is witnessing a shift of consumption and production capacity from developed markets to emerging markets due to the factors such as economic growth rate, growth of manufacturing industries, availability of cheap labor, easy availability of raw materials, and less stringent government regulations. The continuously increasing raw material prices is one of the major concerns for the growth of the formulation additives market. Pricing pressure and high raw material costs are expected to reduce profit margins for market participants. This is a major restraining factor for the growth of the formulation additives market.
Construction end-use industry segment is projected to grow at the highest CAGR in the formulation additives market.
Based on end-use industry, the construction segment is projected to grow at the highest CAGR from 2018 to 2023. Formulation additives play a vital role in several coating applications owing to their properties such as better lightfastness, good substantivity, and optimum depth. Formulation additives are used in architectural coatings, automotive coatings, etc. The demand for formulation additives from the construction application is gaining momentum due to the increasing number of infrastructural projects and construction activities in emerging economies such as Brazil, China, and India.
Rising demand for formulation additives in Asia Pacific is driving the formulation additives market.
The formulation additives market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This can be attributed to the easy availability of raw materials, increasing number of industry alliances, and less stringent regulations for the manufacturing of formulation additives. Asia Pacific is a strategic location for formulation additives manufacturers, as an overall slowdown in the global economic scenario has encouraged many established manufacturers to expand their manufacturing facilities in this region and, thus, increase their sales. The growth of the Asia Pacific market is expected to be primarily driven by China, India, and Japan. Key manufacturers of formulation additives are focusing on expanding their bases in the Asia Pacific region to increase their market shares and enhance profit margins.
The breakdown of primary interviews is given below.
- By Company Type: Tier 1 - 46%, Tier 2 - 31%, and Tier 3 - 23%
- By Designation: C-Level Executives - 54%, Directors - 31%, and Others - 15%
- By Region: North America - 23%, Europe - 31%, Asia Pacific - 38%, RoW – 8%
Research Coverage
The formulation additives market has been segmented on the basis of type, end-use industry, and region. The report covers the formulation additives market, in terms of value, and forecasts its market size till 2023. It also provides company profiles and details of competitive strategies adopted by key players operating in the formulation additives market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
1. The report segments the formulation additives market comprehensively and provides the closest approximations of the revenues for the overall market and its subsegments across different verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, opportunities, and challenges.
3. The report will help stakeholders understand their competitors and gain additional insights into the business. The competitive landscape section includes expansions, new product launches, partnerships & collaborations, and mergers & acquisitions.
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN FORMULATION ADDITIVES MARKET
4.2 FORMULATION ADDITIVES MARKET, BY TYPE
4.3 APAC FORMULATION ADDITIVES MARKET, BY COUNTRY AND END-USE INDUSTRY
4.4 FORMULATION ADDITIVES MARKET, BY END-USE INDUSTRY
4.5 FORMULATION ADDITIVES MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing population and rapid urbanization in emerging economies
5.2.1.2 Increase in demand from end-use industries
5.2.2 RESTRAINTS
5.2.2.1 Increasing raw material prices
5.2.3 OPPORTUNITIES
5.2.3.1 High growth opportunities in emerging economies of APAC
5.2.4 CHALLENGES
5.2.4.1 Need for providing cost-effective and high-performance products
5.2.4.2 Stringent environmental regulations
5.3 PORTER’S FIVE FORCES ANALYSIS
5.3.1 BARGAINING POWER OF SUPPLIERS
5.3.2 BARGAINING POWER OF BUYERS
5.3.3 THREAT OF NEW ENTRANTS
5.3.4 THREAT OF SUBSTITUTES
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 MACROECONOMIC OVERVIEW AND KEY TRENDS
5.4.1 TRENDS AND FORECAST OF GDP
5.4.2 TRENDS AND FORECAST OF AUTOMOTIVE INDUSTRY
5.4.3 TRENDS AND FORECAST OF CONSTRUCTION INDUSTRY
6 FORMULATION ADDITIVES MARKET, BY TYPE
6.1 INTRODUCTION
6.2 RHEOLOGY MODIFIERS
6.3 DEFOAMERS
6.4 DISPERSING AGENTS
6.5 OTHERS
7 FORMULATION ADDITIVES MARKET, BY END-USE INDUSTRY
7.1 INTRODUCTION
7.2 CONSTRUCTION
7.3 TRANSPORTATION
7.4 FURNITURE & FLOORING
7.5 FOOD & BEVERAGE
7.6 INDUSTRIAL AND OIL & GAS
7.7 OTHERS
7.7.1 PHARMACEUTICALS
7.7.2 COSMETICS
7.7.3 PRINTING
8 FORMULATION ADDITIVES MARKET, BY REGION
8.1 INTRODUCTION
8.2 NORTH AMERICA
8.2.1 US
8.2.2 CANADA
8.2.3 MEXICO
8.3 EUROPE
8.3.1 GERMANY
8.3.2 FRANCE
8.3.3 UK
8.3.4 ITALY
8.3.5 SPAIN
8.3.6 REST OF EUROPE
8.4 APAC
8.4.1 CHINA
8.4.2 JAPAN
8.4.3 INDIA
8.4.4 SOUTH KOREA
8.4.5 REST OF APAC
8.5 MIDDLE EAST & AFRICA
8.5.1 SAUDI ARABIA
8.5.2 SOUTH AFRICA
8.5.3 REST OF MIDDLE EAST & AFRICA
8.6 SOUTH AMERICA
8.6.1 BRAZIL
8.6.2 ARGENTINA
8.6.3 REST OF SOUTH AMERICA
9 COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 MARKET RANKING OF KEY PLAYERS
9.3 COMPETITIVE SCENARIO
9.3.1 NEW PRODUCT LAUNCHES
9.3.2 EXPANSIONS
9.3.3 ACQUISITIONS & PARTNERSHIPS
10 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
10.1 BASF
10.2 EASTMAN
10.3 CABOT
10.4 ALLNEX
10.5 M?NZING CORPORATION
10.6 ARKEMA
10.7 BYK ADDITIVES
10.8 EVONIK
10.9 DOW
10.10 HONEYWELL
10.11 MOMENTIVE PERFORMANCE MATERIALS
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
10.12 OTHER MARKET PLAYERS
10.12.1 LANXESS
10.12.2 CYTEC (SOLVAY)
10.12.3 AKZONOBEL N.V.
10.12.4 LEHMANN&VOSS&CO.
10.12.5 HUNTSMAN
10.12.6 MICHELMAN
10.12.7 ELEMENTIS
10.12.8 AFCONA ADDITIVES
10.12.9 KING INDUSTRIES
10.12.10 BORCHERS
10.12.11 ISCA UK
10.12.12 SAN NOPCO
10.12.13 HARMONY ADDITIVE
10.12.14 TRIO
10.12.15 PATCHAM FZC
11 APPENDIX
11.1 INSIGHTS FROM INDUSTRY EXPERTS
11.2 DISCUSSION GUIDE
11.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
11.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
11.5 AVAILABLE CUSTOMIZATIONS
11.6 RELATED REPORTS
11.7 AUTHOR DETAILS
TABLE 1 TRENDS AND FORECAST OF GDP, 2016–2022 (USD BILLION)
TABLE 2 AUTOMOTIVE PRODUCTION, MILLION UNIT (2011–2016)
TABLE 3 CONTRIBUTION OF CONSTRUCTION INDUSTRY TO THE GDP, 2014–2016 (USD BILLION)
TABLE 4 FORMULATION ADDITIVES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
TABLE 5 RHEOLOGY MODIFIERS MARKET SIZE, BY REGION, 2016–2023, (USD MILLION)
TABLE 6 DEFOAMERS MARKET SIZE, BY REGION, 2016–2023, (USD MILLION)
TABLE 7 DISPERSING AGENTS MARKET SIZE, BY REGION, 2016–2023, (USD MILLION)
TABLE 8 OTHER FORMULATION ADDITIVES MARKET SIZE, BY REGION, 2016–2023, (USD MILLION)
TABLE 9 FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 10 FORMULATION ADDITIVES MARKET SIZE IN CONSTRUCTION INDUSTRY, BY REGION, 2016–2023 (USD MILLION)
TABLE 11 FORMULATION ADDITIVES MARKET SIZE IN TRANSPORTATION INDUSTRY, BY REGION, 2016–2023 (USD MILLION)
TABLE 12 FORMULATION ADDITIVES MARKET SIZE IN FURNITURE & FLOORING INDUSTRY, BY REGION, 2016–2023 (USD MILLION)
TABLE 13 FORMULATION ADDITIVES MARKET SIZE IN FOOD & BEVERAGE INDUSTRY, BY REGION, 2016–2023 (USD MILLION)
TABLE 14 FORMULATION ADDITIVES MARKET SIZE IN INDUSTRIAL AND OIL & GAS INDUSTRY, BY REGION, 2016–2023 (USD MILLION)
TABLE 15 FORMULATION ADDITIVES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2016–2023 (USD MILLION)
TABLE 16 FORMULATION ADDITIVES MARKET, BY REGION, 2016–2023 (USD MILLION)
TABLE 17 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 18 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
TABLE 19 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 20 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE IN
CONSTRUCTION INDUSTRY, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 21 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE IN INDUSTRIAL
AND OIL & GAS INDUSTRY, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 22 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE IN TRANSPORTATION INDUSTRY, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 23 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE IN
FURNITURE & FLOORING INDUSTRY, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 24 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE IN
FOOD & BEVERAGE INDUSTRY, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 25 NORTH AMERICA: FORMULATION ADDITIVES MARKET SIZE IN
OTHER END-USE INDUSTRIES, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 26 US: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 27 CANADA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 28 MEXICO: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 29 EUROPE: FORMULATION ADDITIVES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 30 EUROPE: FORMULATION ADDITIVES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
TABLE 31 EUROPE: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 32 GERMANY: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 33 FRANCE: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 34 UK: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 35 ITALY: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 36 SPAIN: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 37 REST OF EUROPE: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 38 APAC: FORMULATION ADDITIVES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 39 APAC: FORMULATION ADDITIVES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
TABLE 40 APAC: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 41 APAC: FORMULATION ADDITIVES MARKET SIZE IN CONSTRUCTION
END-USE INDUSTRY, BY COUNTRY, 2016—2023 (USD MILLION)
TABLE 42 APAC: FORMULATION ADDITIVES MARKET SIZE IN INDUSTRIAL AND OIL & GAS INDUSTRY, BY COUNTRY, 2016—2023 (USD MILLION)
TABLE 43 APAC: FORMULATION ADDITIVES MARKET SIZE IN TRANSPORTATION INDUSTRY, BY COUNTRY, 2016—2023 (USD MILLION)
TABLE 44 APAC: FORMULATION ADDITIVES MARKET SIZE IN FURNITURE & FLOORING INDUSTRY, BY COUNTRY, 2016—2023 (USD MILLION)
TABLE 45 APAC: FORMULATION ADDITIVES MARKET SIZE IN FOOD & BEVERAGE INDUSTRY, BY COUNTRY, 2016—2023 (USD MILLION)
TABLE 46 APAC: FORMULATION ADDITIVES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY COUNTRY, 2016—2023 (USD MILLION)
TABLE 47 CHINA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 48 JAPAN: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 49 INDIA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 50 SOUTH KOREA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 51 REST OF APAC: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 52 MIDDLE EAST & AFRICA: FORMULATION ADDITIVES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 53 MIDDLE EAST & AFRICA: FORMULATION ADDITIVES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
TABLE 54 MIDDLE EAST & AFRICA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 55 SAUDI ARABIA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 56 SOUTH AFRICA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 57 REST OF MIDDLE EAST & AFRICA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 58 SOUTH AMERICA: FORMULATION ADDITIVES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
TABLE 59 SOUTH AMERICA: FORMULATION ADDITIVES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
TABLE 60 SOUTH AMERICA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 61 BRAZIL: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 62 ARGENTINA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 63 REST OF SOUTH AMERICA: FORMULATION ADDITIVES MARKET SIZE, BY END-USE INDUSTRY, 2016–2023 (USD MILLION)
TABLE 64 NEW PRODUCT LAUNCHES (2013–2018)
TABLE 65 EXPANSIONS (2013–2018)
TABLE 66 ACQUISITIONS & PARTNERSHIPS (2013–2018)
The report "Formulation Additives Market by Type (Defoamers, Rheology Modifiers, Dispersing Agents), End Use Industry (Construction, Transportation, Industrial and Oil & Gas, Food & Beverage, Furniture & Flooring), and Region - Global Forecast to 2023", The formulation additives market is estimated at USD 20.62 billion in 2018 and is projected to reach USD 27.86 billion by 2023, at a CAGR of 6.2% during the forecast period.
Major manufacturers profiled in this report include
BASF (Germany), Eastman (US), Evonik (Germany), BYK Additives (Germany), Dow (US), Cabot (US), Allnex (Germany), Münzing (Germany), Arkema (France), Honeywell (US), Momentive (US), and others. These companies have strengthened their market positions through diverse product portfolios, strategically positioned R&D centers, consistent development activities, and technological advancements. They are focused on the adoption of various organic and inorganic growth strategies, such as expansions, agreements, and acquisitions to increase their market shares.
The formulation additives market has been segmented on the basis of type, end-use industry, and region. The report covers the formulation additives market, in terms of value, and forecasts its market size till 2023. It also provides company profiles and details of competitive strategies adopted by key players operating in the formulation additives market.
BASF is a diversified chemical company. The company operates through major six business segments, namely, chemicals, functional & materials solutions, performance products, agricultural solutions, oil & gas, and others. The company operates in various regions, such as the Americas, Europe, APAC, Africa, and the Middle East. Its formulation additives section is capitalizing its growth by improving manufacturing efficiency and upgrading technologies. This is helping in improving the quality and performance of its manufactured products. The company offers diversified products that serve a wide range of applications. In 2017, BASF launched a new defoamer, enhancing its range of formulation additives. The new formulation additive FoamStar SI 2240 shows excellent compatibility with several binder systems and possess long-term stability and efficiency. This additive is widely used in industrial coatings, architectural coatings, and paints applications.
Evonik is one of the world’s leading specialty chemicals companies. It operates through five business segments, namely, nutrition & care, resource efficiency, performance materials, services, and others. The company, under its resource efficiency segment, manufactures formulation additives, including defoamers, wetting agents, dispersants, rheology modifiers, and other additives. The company has invested in the development of innovative products through R&D. It has signed various agreements to create new businesses with distributors, which enabled a profitable growth in the formulation additives market. For instance, in 2017, Evonik acquired the specialty additives business (Performance Materials Division) of Air Products, Inc. (US). This acquisition enabled the company to grow in the specialty additives market.
Rheology modifiers: Largest type of formulation additives market
Rheology modifiers, dispersing agents, and defoamers are the most widely used types of formulation additives. Increasing demand for rheology additives to impart functions such as enhanced pigment wetting, excellent spatter resistance, and enhanced flow behavior is driving this segment. These formulation additives are used to adjust the flow behavior and consistency in formulations as well as aid in excellent performance. They help reduce pigment sedimentation in paints & coatings applications which drives the rheology modifiers additives market.
Construction industry: Largest end-use industry segment of formulation additives market
The construction industry is the largest end-use industry segment of the formulation additives market. Formulation additives are used 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. 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.
Asia Pacific: Largest market for formulation additives in 2017
Asia Pacific is the largest and fastest-growing formulation additives market, globally. Growing construction and transportation industries in the Asia Pacific, along with increasing formulation additives manufacturing activities, offer significant opportunities for the use of formulation additives in the region. The market in the region is projected to grow at the highest CAGR during the forecast period. Increasing use of formulation additives in various industries, such as construction, transportation, and furniture & flooring is driving the formulation additives market in Asia Pacific.
