Formulation Additives Market Worth 27.86 Billion USD by 2023

PUNE, India, June 22, 2018 /PRNewswire/ --

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", published by MarketsandMarkets™, 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.

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Browse 66 market data Tables and 32 Figures spread through 126 Pages and in-depth TOC on "Formulation Additives Market"

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The growth of the Formulation Additives Market is primarily driven by the increasing use of these additives in industries such as construction, transportation, furniture & flooring, food & beverage, industrial and oil & gas, and others. In addition, the growth of formulation additives industries in emerging economies of India and China in APAC region are influencing the growth of the Formulation Additives Market. Expansions and acquisitions undertaken by key market players are further fueling market growth.

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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.