Rockville, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The global formulation additives market is anticipated to reach a valuation of US$ 41 billion by 2033, according to the latest data provided by Fact.MR, a market research and competitive intelligence provider. Worldwide demand for formulation additives is estimated to increase at a CAGR of 6.9% through 2033.
The key driver in the formulation additives industry is growing industrialization across both developed and developing nations. In addition, increasing demand for additives from different end-use industries is also predicted to stimulate their sales over the coming years.
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Report Attributes | Details |
| Historical Data | 2023 - 2032 |
| Value Projection (2032) | US$ 41 Billion |
| Growth Rate (2022-2032) | 6.9 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 25 Tables |
| No. of Figures | 132 Figures |
Key Takeaways from Market Study
- The global formulation additives market has been estimated to expand at a CAGR of 6.9% through 2033.
- Demand for formulation additives is projected to reach US$ 41 billion by the end of 2033.
- The market in Germany is expected to progress at a CAGR of 5.2% from 2023 to 2033.
- The present value of the global formulation additives market is US$ 20.9 billion.
- Asia Pacific is estimated to hold the largest share of the global market.
- The Canadian market is forecasted to advance at a CAGR of 5.8% through 2033.
Manufacturers of formulation additives are adopting the approach to provide cost-effective solutions, that too without making any compromise on the performance of end products. Overall, the rising application of formulation additives across end-use industries such as oil & gas, food & beverages, furniture & flooring, and others is projected to drive target market growth.
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Winning Strategy
Prominent players in the market are adopting mergers & acquisitions and others strategies to generate novel opportunities over the coming years.
For instance,
- Milliken & Company is a materials science company that has acquired Borchers. The latter is a stalwart in the industry of paints and coatings. The detailed portfolio of additives for coatings, adhesives, and inks along with the extensive consumer base is projected to create expansion opportunities for Milliken in the coming years.
Competitive Landscape
Demand for formulation additives is increasing owing to their growing use across different end-use industries. Key players in the market are taking efforts to improve the processing qualities and properties of products that are used in formulation additives. They are also focusing on the supply chain management of formulation additives to improve their share in the market. Product demand often rises across the industry of coating and paints, which is estimated to stimulate opportunities for new entrants.
Key suppliers of formulation additives are:
Afcona Additives, Trio, San Nopco, Patcham FZC, Lehmann&Voss&Co., Harmony Additives, Elementis, and Cytec (Solvay). These market players are the ones catering to the local supply and cross-border shipments of formulation additives.
New developments and the latest pricing trends in the market for formulation additives have been listed in this new research report by Fact.MR.
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Segmentation of Formulation Additives Industry Research
- By Type :
- Dispersing Agents
- Rheology Modifiers
- Defoamers
- Others
- By Application :
- Construction
- Transportation
- Furniture & Flooring
- Food & Beverages
- Industrial
- Oil & Gas
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Check out more related studies published by Fact.MR Research:
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Automotive Additives Market: The global automotive additives market is estimated at USD 8.2 Billion in 2022 and is forecast to reach USD 13.2 Billion by 2032, growing at a CAGR of 4.9% during 2022-2032.
Chemical Silage Additives Market: Chemical silage additives are widely being used to control the preservation process in order to retain nutrient present in the original fresh forage, for a longer period of time.
Potting Mix Additives Market: Potting is something that gardeners and plant growers need to do periodically for plant nutrition. Soil is an essential part of potting and thus, for healthy root development in plants, it is important to add good soil.
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