Global Viscosifiers (Oil & Gas) Market to Witness Stellar Growth Rate in the Next 10 Years

Global Viscosifiers Market: Introduction

Viscosifiers are materials which increase the lubricity or viscosity of oil, water and synthetic drilling fluids. Viscosifiers produce high viscosity development, provide cutting encapsulation and reduce friction in fresh water. They help in maintaining the correct pressure in lower filtration and the borehole. Viscosifiers and rheology modifiers include polyanionic and cellulose based additives which are used to control the filtrates in waterborne drilling fluids. Owing to their salt tolerance, pseudoplasticity and water retention capabilities, they function as thickening agents, which enhance the mud quality and performance. A viscosifier increases the viscosity of a system. The increased viscosity improves the suspension of solids and gives emulsion stability. Viscosifiers help in the reduction of fluid loss and promote bore stability by increasing temperature and emulsion stability. Viscosifiers are most commonly used in drilling fluid applications and are compatible with all non-aqueous fluids. Viscosifiers have the ability to increase the low shear rates properties. Viscosifiers also have versatile carrying capacity and suspension properties and have a wide range of applications in paints and coatings, automotive, construction, pharmaceutical, cosmetics, personal care and others industries.

Global Viscosifiers Market: Dynamics

The growing shift towards urbanization and increasing disposable income of consumers is expected to intensify the demand for viscosifiers in the global market during the forecast period. Increasing demand for viscosifiers from end-user industries, such as construction, aerospace, automotive, cosmetics, personal care, general industries and others, has augmented the growth of paints and coatings industry. Infrastructural growth and rising urbanization, on the other hand, will continue to drive the demand for automobiles. Paint & coatings and automotive are the top two applications of viscosifiers and are expected to drive the viscosifiers market globally.

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Opportunities will continue to arise in the viscosifiers market owing to the growing demand for gender-specific products, such as conditioners, facemasks, shampoos, etc. and rising sales of cosmetics and personal care products. Viscosifiers’ versatile properties, such as suspension capabilities, gelatin properties and transport abilities might set the tone for their strong growth in the global market during the forecast period. Improved construction and industrial activities are also forecast to boost the growth of viscosifiers. Growing preference for organic products and their easy availability is a major trend seen across the viscosifiers market.

There has been a fall in the consumption of ink due to digitalization. Declining demand from printing industries and publication houses is expected to act as a constraint for the viscosifiers market. Owing to the rising shift towards digital media, the scope of business from the printing sector is anticipated to slow down in near future, which will ultimately hamper the growth of the viscosifiers market. Elevated material costs and increasing pressure to follow environmental regulations ensuring reduction of hazardous chemical ingredients is yet another restraint for the global viscosifiers market.

Global Viscosifiers Market: Segmentation

The Global Viscosifiers Market is can be segmented on the basis of product type and application.

On the basis of product type, the market is segmented into:

Organic
Inorganic
On the basis of applications, the market is segmented into:

Paint and Technology
Personal Care
Adhesives and sealants
Textiles
Pharmaceuticals
Construction
Paper and Pulp
Mining Chemicals
Others
Global Viscosifiers Market: Region-wise Outlook

Based on region, the global viscosifiers market is segmented into Asia-Pacific, South America, Middle East & Africa, North America and Europe. The booming construction industry in emerging economies, such as India and China in Asia-Pacific and Latin America, has led to an increased demand for adhesives, sealants, paints & coatings. This, in turn, will drive the growth of the viscosifiers market in this region. North America and Europe, on the other hand, are major consumers of viscosifiers owing to the increasing demand of materials with good carrying capacity and suspension properties from end-users. China, India and Japan are expected to be major consumers of viscosifiers in the APAC region.

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Global Viscosifiers Market: Key Players

Some of the key players identified in the Global Viscosifiers Market are Schlumberger Limited, Baroid Industrial Drilling Products, BASF, The Dow Chemical Company, Halliburton, Clariant, Croda International Plc, Imdex Limited, Proec Energy Limited, SNF Group, Evonik Industries AG, Ashland, Akzo Nobel N.V. and, others.

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This release was published on openPR.