ALBANY, New York, October 9, 2018 /PRNewswire/ --
The rheology modifiers market has a highly fragmented vendor landscape, TMR anticipates. Some of the key players holding a major share in the market are Akzo Nobel N.V. and BASF SE. Some of the other key players operating in the rheology modifiers market are Air Products and Chemicals, Inc., Altana AG, Arkema S.A., and Ashland Inc. The market is currently dominated by the local players in the market; thus the international players are expected to face the intense competition in the major markets. The key players are increasingly investing in research and development activities to produce improved and efficient product to be used in numerous industries.
According to TMR, the rheology modifiers market was valued at US$4.9 bn in 2015 and is expected to expand with 3.7% to attain the value of US$6.8 bn by the end of the forecast period 2024. Based on product type, the market is dominated by the organic segment which accounted for the 63.0% of the overall shares in 2015 owing to growing demand for the organic and less harmful products. Based on the region, Asia Pacific dominated the global market in 2015 with accounting 52% of the overall shares owing to the higher demand from the developing countries such as India and China. Thanks to this demand, the region is expected to expand with lucrative CAGR of 3.9% by the end of the forecast period.
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Widening Application of Rheological Modifiers to Boost Growth
Rheology modifiers are the type of additives which helps to improve the structural properties of fluids. These are mainly used in the manufacture of ink, paints, and coatings. These additives also improve the sag resistance and viscosity of the fluids which can improve its flexibility and performance. Addition of rheological modifiers in the fluids can improve its shelf life; thus, the adoption of the modifiers are increasing across the manufacturing of paints & coatings, cosmetics & personal care, and adhesives & sealants. This growing adoption is influencing positively on the growth of the global market for rheology modifiers.
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Moreover, the rheology modifiers market is gaining traction from widening applications of rheology modifiers across the industries such as homecare institutional & industrial products (hi&i) products in construction, pharmaceuticals, automotive, and oil & gas. The organic modifiers have higher demand from cosmetic and personal care industry. The growing concerns over the harmful effects of the chemical-based products are fuelling demand for the organic products which in turn is driving the growth of the rheology modifiers market.
Unique Properties of Rheological Modifiers to Offer Growth Opportunities
Despite these growth opportunities, the swift changes in digital media and declining demand for publication houses are limiting growth of the global rheology modifiers market. Additionally, some stringent regulations in order to save environment are likely to increase the cost of the research and development (R&D) which is likely to restrain growth of the market.
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Nevertheless, some of the modifiers with the properties of anti-sagging, levelling, and stabilizing emulsion are finding application in paint & coatings, and personal care products. While the products xanthan gum, polyurethane, guar gum, and other organic rheology modifiers find application in other industries due to their effectiveness in production. Growing consumption of rheological modifiers in the personal care industry is creating lucrative opportunities for growth in the global rheological modifiers market.
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This information is from the new report by TMR, titled "Rheology Modifiers Market (Product Type - Organic, Inorganic; Application - Paints & Coatings, Personal Care, Adhesives & Sealants, Textiles, Pharmaceuticals, Construction, Pulp & Paper) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
Global Rheology Modifiers Market has been segmented as presented:
By Product Type:
- Paints & Coatings
- Personal Care
- Adhesives & Sealants
- Pulp & Paper
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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