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Formulation Additives Market Trends

Report ID: GMI8114
Published Date: Feb 2024
Report Format: PDF

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Formulation Additives Market Trends

A prominent trend is the increasing focus on sustainable and environmentally friendly additives, driven by growing awareness and stringent regulations. Manufacturers are investing in research and development to introduce innovative formulations that minimize environmental impact without compromising performance. Additionally, there is a notable surge in demand for bio-based additives, reflecting a broader industry shift towards renewable resources and eco-conscious solutions.

Technological advancements are playing a pivotal role in shaping market trends, with a continuous emphasis on developing high-performance additives that cater to specific industry needs. The construction and automotive sectors remain major drivers of the market, with a rising demand for products enhancing durability, stability, and overall performance. Furthermore, digitalization and smart manufacturing are influencing the market, leading to the adoption of advanced additives for improved processing and application.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of formulation additives reached USD 29 billion in 2023 and is set to witness over 6.7% CAGR between 2024 and 2032, due to the escalating demand for high-performance and specialized products across diverse industries.

Defoamers segment held the dominant market share worth USD 8.2 billion in 2023, as they help in preventing foam formation during manufacturing processes.

Asia Pacific market generated a revenue of USD 9.6 billion in 2023, attributed to burgeoning industrialization, rapid urbanization, and infrastructural developments in countries such as China and India.

AkzoNobel, Arkema, BASF SE, BYK, Cabot Corporation, Cytec (Solvay), Dow, Eastman Chemical Company, Evonik Industries, Honeywell International Inc., Huntsman Corporation, LANXESS AG, Michelman, Momentive, and MÜNZING Corporation.