Augmenting demand from the paints and coatings industry, cosmetics, drug development, and building & construction industries, and the growing demand for superior quality paints and cosmetics are significant factors propelling the market expansion. Market Size – USD 7,139.6 Million in 2019, Market Growth – CAGR of 3.3%.
The Global Rheology Modifiers Market is expected to be valued at USD 9,292.8 Million in 2027 from USD 7,139.6 Million in 2019, registering a CAGR of 3.3% through the forecast period. The exponential growth of the market can be ascribed to soaring high demand for rheology modifiers from the paints and coatings industry. Rheological modifiers are significant components of the paints and coatings as they effectively control and regulate specific attributes of the fluid materials.
The application of rheology modifiers allows the paints to equally spatter in all directions when applied and also confers longer shelf life to the paints. Moreover, rheology modifiers are extensively used in formulations to control the flow and enhance the viscosity of the coatings and paints. This is further projected to add traction to the market expansion.
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The application of rheology modifiers in oil-based muds confers low shear rates with enhanced viscosity that offers several advantages during horizontal drilling and high-angle wells drilling. They are also essential in preventing sagging and settling of the weighting materials. Additionally, the accelerated production of crude oil and growing disposable income levels are projected to drive the market expansion.
In cosmetics, rheology modifiers are predominantly used in shampoos, lotions, facial cleansers, and shampoos, among others, as they can effectively control flow attributes, stabilize formulations, and improve the textures of the cosmetics. This increases the shelf life of the cosmetic products, and the growing demand for superior quality cosmetics is contributing to the market growth. However, the detrimental impact of the rheology modifiers on the ecosystem can potentially impede the market growth in the projected timeframe.
Key Highlights from the Report:
- Escalating demand for organic rheology modifiers can be ascribed to their excellent attributes of low volatile organic compounds (VOC) content. The rheology modifiers that are devoid of VOCs are extensively used in paints and coatings, adhesives, and cosmetics. The sub-segment is projected to expand at a CAGR of 4.0% throughout the estimated timeframe.
- The application of rheology modifiers in the food and beverages industry is expanding at a rapid rate. The soaring utilization of rheology modifiers in the food sector is carried out in specific formulations such as salad dressings, soups, bakery products, gravies, and other packaged products to attain particular taste and thickness.
- Asia Pacific region is foreseen to command the market growth in the projected timeframe owing to the accelerated expansion of the building and construction sector and rapid growth of the automotive industry in the region. The Asia Pacific region occupied a 43.1% revenue share in the global market.
- Major companies of the market include Lubrizol Corporation, BASF SE, The Dow Chemical Company, Arkema SA, Croda International PLC, Ashland Global Specialty Chemicals Inc., Akzo Nobel NV, Cargill Inc., Clariant AG, and Elementis PLC.
- In 2019, the Lubrizol Corporation introduced Carbopol Style 2.0 polymer, a novel versatile rheology modifier. The product provides rheology modification while simultaneously reducing the need for fixatives such as polyvinylpyrrolidone (PVP).
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For the purpose of this report, Emergen Research has segmented the Global Rheology Modifiers Market on the basis of product type, distribution channel, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017–2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017–2027)
Industry Vertical Outlook (Revenue, USD Billion; 2017–2027)
- Paints & Coatings
- Adhesives & Sealants
- Cosmetics & Personal Care
- Building & Construction
- Oil & Gas
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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