Increasing demand from applications is expected to drive the rheology modifiers market. The global rheology modifiers market size is projected to grow from USD 7.2 billion in 2019 to USD 8.6 billion by 2024, at a CAGR of 3.5%. The increasing demand from various applications mainly drives the rheology modifiers market. Paints & coatings are the largest application for rheology modifiers. Automotive, construction, furniture, metal, and other similar industries are the end-users of paints and coatings. These industries are mature in developed economies of Western Europe and North America and growing at a rate of 2%–4%.
On the contrary, the growth rate of these industries is high, approximately 5%–6%, in developing economies of Eastern Europe, Latin America, and APAC.The cosmetics industry is rapidly growing in emerging markets such as Brazil, China, and India.
Increasing consumer awareness about the usage of high-quality cosmetic products and willingness to pay premium prices are driving the cosmetics industry at the global level, thus, driving the demand for rheology modifiers.
Organic is projected to account for the largest share of the overall rheology modifiers market, in terms of value, between 2019 and 2024. Organic rheology modifiers are diverse in terms of chemistry and availability than inorganic rheology modifiers and are mainly based on natural raw materials.They have been further classified into two major types, natural and synthetic.
The demand for organic rheology modifiers is very high in all the applications.This is mainly due to its high performance and environmentally friendly nature.
Organic rheology modifiers can be used in the wide class of mediums such as waterborne systems, solvent-borne systems, and solventless systems.
Paints & Coatings is the largest application in the overall rheology modifiers market in terms of value.
The consumption of rheology modifiers is very high in the paints & coatings application.Paints & coatings are defined as a mixture or dispersion of opaque pigments or powders in a liquid.
These include all organic and inorganic coatings, such as enamels, varnishes, emulsions, and bituminous coatings.The primary function of rheology modifiers in the paints & coatings application is to provide the desired viscosity with rising demand from the APAC region, especially from China, India, and Japan.
There is an increasing demand for paints & coatings in private housing and commercial offices, in addition to infrastructures such as roads, rail, and energy. Growth in the buildings & construction sector has been driving the global rheology modifiers market in the paints & coatings application.
Rapid industrialization in APAC to drive the demand for rheology modifiers.
The APAC rheology modifiers market is projected to be the largest during the forecast period.The growing industrialization and infrastructural development in the region have offered enormous opportunities for the use of rheology modifiers across various applications in APAC.
The major rheology modifiers markets in APAC are China, Japan, India, Indonesia, and Malaysia. China is the major hub for manufacturing activities, globally, followed by Japan and India. Also, China is the most populous country in the world, which has resulted in the growth of applications, such as construction, paints & coatings, and cosmetics & personal care. Moreover, countries including India and Indonesia, are also witnessing significant growth rates on account of the growing industrial activities in the region. • By Company Type: Tier 1 - 60%, Tier 2 - 30%, and Tier 3 - 10% • By Designation: C-Level - 30%, Director Level - 60%, and Others - 10% • By Region: North America - 35%, Europe - 20%, APAC - 30%, South America - 5%, Middle East & Africa - 10%
The key players profiled in the report include Arkema (France), The Dow Chemical Company (US), BASF SE (Germany), Lubrizol Corporation (US), Clariant (Switzerland), Elementis Plc. (UK), Croda International Plc. (UK), Ashland (US), Akzo Nobel N.V. (Netherlands), and BYK Additives & Instruments (Germany).
Research Coverage This report segments the market for rheology modifiers based on type, application, and region, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, and key strategies associated with the market for rheology modifiers.
Reasons to Buy this Report This research report is focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view of the competitive landscape; emerging and high-growth segments of the rheology modifiers market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights into the following pointers: • Market Penetration: Comprehensive information on rheology modifiers offered by top players in the global market • Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for rheology modifiers across regions • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global rheology modifiers market • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the rheology modifiers market
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