Formulation additives are used to adjust the qualities of the adhesive formulation, which helps in improving the durability, efficiency, and appearance of the product. They are used in adhesive and sealant applications. The global formulation additives market is growing at a decent pace, due to the increasing use of these additives in number of industries. The major objectives of these additives is to enhance the properties and processing characteristics of materials in which they have been used.

Construction industry is the largest consumer of these additives, due to its wide application in the industry such as improve dispersion properties, better wetting, optimize foam control of building materials and architectural coatings, and others.

Also, the consumers are preferring attractive homes, as their standard of living is improving with the increasing income, which is boosting the demand of these additives in the construction industry, as they enhance the structure of the building along with reduced maintenance needs.

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The population of emerging countries is increasing at a fast rate, and to meet the housing need of the increasing population, the builders are investing heavily in construction projects. Hence, the growing construction is driving the demand for these additives in the building and construction industry.

Various manufacturers are investing heavily in developing cost-effective as well as high-performance products for the consumers to stay competitive in the market, as various innovations are taking place in the market by the key players.

Asia-Pacific is the largest consumer of these additives and is also expected to register the fastest growth in the formulation additives market during the forecast period. This can be attributed to the growing construction and transportation activities in the region, to meet the demand of the ever-increasing population.

BASF SE, Eastman Chemical Company, DowDupont Inc., Cabot Corporation, Allnex Technologies, Arkema Group, Evonik Industries, Momentive Performance Materials, Huntsman Corporation, and AkzoNobel N.V. are some of the key players offering formulation additives products.

Source: VynZ Research