Rheology Modifiers are additives used in thickening or modifying the properties of structural fluids. It can enable formula manufacturers to modify the thickness of solutions and widening its application base. The Global Rheology Modifiers Market Report by Market Research Future (MRFR) looks at the various used of the additive in aqueous and non-aqueous solutions and its prospects for the period of 2017 to 2023 (forecast period). It also takes into consideration of the impact of the COVID-19 pandemic on the industry.
Elementis plc, Ashland, Arkema S.A., The Dow Chemical Company, The Lubrizol Corporation, Clariant, Air Products and Chemicals, Inc, Akzo Nobel N.V., Croda International Plc, BASF SE, and others are key players of the Global Rheology Modifiers Market.
Global Rheology Modifiers Market demand is driven by its application in industries of cosmetics & personal care, oil & gas, paints & coatings, and adhesives & sealants. The use of thickening agents in formulations is expected to fuel the market demand significantly. Preference of cosmetic lotions, creams, and moisturizers due to rise of standards of living and huge disposable income levels of consumers can bode well for the Rheology Modifiers Market. Presence of developing nations and the latent potential of end-use industries can widen the ambit of the market.
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Global Rheology Modifiers Market is segmented by Type and Application.
On the basis of Type, the market is divided into organic and inorganic. The organic segment is expected to lead in the Global Rheology Modifiers Market due to its properties of heat stability, prevention of additional sagging, and shear thinning.
By Application, it is segmented into institutional & industrial (hi&i) products, paints & coatings, adhesives & sealants, cosmetics & personal care, home care, oil & gas, construction, inks, and pharmaceuticals. The paints & coatings application is bound to be the leading revenue generator due to advantages of heat stability and high performance. But the preference of electronic formats of books and the inclination towards the internet can hamper the segment growth.
The Rheology Modifiers Market spans across five regions, namely Latin America, Asia Pacific (APAC), North America, Europe, and the Middle East & Africa (MEA).
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Among these, APAC held a major market share due to the growing demand for the product in cosmetics & personal care, paints & coatings, and others. Paints & coatings can drive the demand for Rheology Modifiers due to its applications in water-borne industrial coatings, architectural paints, and others. New product offerings as well as temperamental climates can drive the market demand. Countries such as India, China, Japan, and South Korea can play a huge role in the regional Rheology Modifiers Market Growth.
North America is growing significantly due to the growing demand for the product in adhesives & sealants, cosmetics & personal care, and other industries. It is predicted that advanced lifestyles and growing investments in end-use industries can drive the market during the forecast period. The resurgence of infrastructure projects and the boom in economies in the U.S, Canada, and Mexico can drive the market demand. Properties of Rheology Modifiers such as flexibility, extended life, and high performance standard can maintain constant sales.
Europe has received a remarkable growth in the last couple of years. It is projected that the growth in innovations coupled with technological breakthroughs in various industries can beckon the need for modifiers. Manufacture of solvent-free products and rise of personal care products can propel the market to expand at a high growth rate during the forecast period. Mergers and acquisitions among leading companies can bring about positive changes in the regional Rheology Modifiers Market with countries of the France, U.K, Italy, and Germany being primary contributors.
COVID-19 Study in Detail:
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