ALBANY, New York, January 14, 2019 /PRNewswire/ --
The global rheology modifiers market is likely to witness steady growth in the forthcoming years, as reported by Transparency Market Research (TMR). The market's business ecosystem features fragmentation at present. The market is expected to witness immense potential in terms of regional vendors, as they are expected to cater to the global competition over the coming years.
The established vendors in the global rheology modifiers market are banking on their solid presence across the globe along with strong distribution channels in order to retain their place in the market. Vendors in the market are seen investing in the expansion of their production facilities in order to gain momentum in the global rheology modifiers market. Market players are expected to focus on the research and development of industry-specific products, especially personal care industry. The trend of use of natural products in raw materials is expected to be leveraged by market vendors in order to gain market shares over the coming years.
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Key players operating in the global rheology modifiers market are BASF SE, Akzo Nobel N.V., Altana, Munzing Chemie Gmbh, Elementis specialty Chemicals, and Arkema.
As reported by TMR, the global rheology modifiers market is likely to expand at a 3.7% CAGR over the forecast period 2016 to 2024. The market was estimated to be worth US$4.9 bn in 2015, and is expected to reach a value of US$6.8 bn by 2024.
In terms of the product type, the organic segment is anticipated to account for a high share in the global rheology modifiers market with a 63.0% share as recorded in 2015. Geographically, the region of Asia Pacific is expected to emerge as the leading regional market with a 3.9% CAGR over the period of forecast.
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Improving Living Standards to Provide Impetus to Growth
The demand for personal care products is driven by an increase in population in developing economies and developed economies and by an increase in disposable incomes. The demand for premium products is also a driver for rheology modifiers in the personal care market. The increasing population and economic conditions in the emerging economies have led to a greater housing transaction and more disposable income which have a direct effect on the rheology modifiers market and which are driving the paints, adhesives and coatings market in the construction sector.
Increased consumption of packaged food products means that food rheology modifiers are being used in those products, including texturants, emulsifiers, anti-caking agents, and hydrocolloids, in applications such as bakeries, savory snacks, and beverages. Growing demand for healthy, organic and natural ingredients is in turn driving the natural food additives market, including botanical or other sources of rheological modifications. These are some of the key factors fuelling the global rheology modifiers market at present.
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Personal Care Industry to Boost Market Opportunity
Increased consumer awareness of personal care and hygiene and their increased product purchasing power will drive demand for lotions, shampoos, creams, packing products and other personal care products. The two leading industrial applications on the global rheology modifiers market are most often used in organo-clay-based rheology modifiers in personal care products, paints and coatings.
The surge in awareness regarding personal care is expected to offer rich growth opportunity to vendors in the global rheology modifiers market over the forecast period.
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The study presented here is based on a report by Transparency Market Research (TMR) titled, "Allergy Diagnostics Market (Product - Assay Kits, Consumables, and Instruments; Allergen Type - Inhaled Allergens, Food Allergens, and Drug Allergens; Test Type - In-vivo and In-vitro tests; End Users - Hospitals, Diagnostic Laboratories, and Academic Research Institutes) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
The market is segmented for detailed study in the following way:
Global Allergy Diagnostics Market, By Product
- Assay Kits
Global Allergy Diagnostics Market, By Allergen Type
- Inhaled Allergens
- Food Allergens
- Drug Allergens
Global Allergy Diagnostics Market, By Tests
- In-vivo tests
- In-vitro tests
Global Allergy Diagnostics Market, By End Users
- Diagnostic Laboratories
- Academic Research Institutes
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