Press release
Rheology Modifiers Market ti hit USD 6.83 billion by 2024| Ashland, DOW Chemical Company, BASF SE, Arkema Group and Lubrizol Corporation
Rheology Modifiers Market
According to a new research report by Global Market Insights, Inc. Rheology Modifiers Market size is set to reach USD 6.83 billion by 2024. Rheology modifiers are the materials (organic or inorganic) which are used to control the rheology (flow) properties of the fluid formulations. These compounds have gained significant importance worldwide, driven by their huge set of applications across various end use industries such as Paints & Coatings, Adhesives & Sealants, Personal Care, Pharmaceuticals, Textiles, Pulp & Paper, and Construction.
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Personal care industry, which is yet another booming industry, is also a vital driving factor for rheology modifiers market. personal care industry, having had a market value of USD 580 billion in 2015, is estimated to surpass USD 790 billion by 2024. This growth will in turn boost rheology modifiers market owing to its rising demand across various personal care products to impart desirable properties such as suspension, consistency, and stabilization to these products. Inorganic modifiers are mainly used for the personal care industry. Rheology modifiers application in the personal care industry is estimated to grow at a CAGR of 3.5% over the period of 2016-2024.
Growth drivers are
1. Growing paint & coatings industry
2. Increasing personal care product demand
3. Rising adhesives & sealants demand
4. Growing demand for pharmaceuticals
Paints & coating industry, which is forecast to exceed USD 210 billion by 2024, is estimated to be the most lucrative sector for this billion-dollar market over the coming period. Paints and coatings industry accounted for nearly 30% of the global rheology modifiers share in 2015. These modifiers are witnessing a huge demand across this industry, owing to their ability to improve the durability, consistency, emulsion stability, leveling, and anti-sagging properties of the paints. The increasing urbanization coupled with the growing automotive and construction industry is favorably impacting the paints & coatings market, which in turn will drive the rheology modifiers market size.
The paper industry is also a significant contributor towards this market. However, the growth in this sector is sluggish due to the growing digital trends which has reduced the growth of paper industry. Moreover, the fluctuating crude oil prices may also negatively impact rheology modifiers industry growth, crude oil being the essential raw material for these compounds.
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The growing geriatric population and the rising health awareness among the consumers is boosting the pharmaceutical market globally. These modifiers are in turn witnessing a huge growth owing to their applications in the pharmaceutical industry as additives in semi-solid formulations like ointments, lotions, syrups, etc. Organic modifiers such as polyurethane, acrylic polymers, xanthan gum, microcrystalline cellulose, and guar gum are used in pharmaceutical applications. Organic rheology modifiers market size is estimated to witness a CAGR of 3.5% over 2016-2024.
The growth in the end user industries across the globe will fuel rheology modifiers market size. US, being the largest hub of the geriatric population, is estimated to account for a significant share in the rheology modifiers market. Moreover, the growth of the pharmaceutical and personal care industries in US will also drive the regional revenue.
Asia Pacific market, which accounted for 35% of the global revenue in 2015, is estimated to register a CAGR of over 4% over 2016-2024. Rapid industrialization coupled with the expansion of automotive and construction industry are the major driving forces behind APAC rheology modifiers market growth.
Table Of Content For This Research Report:
• Rheology modifier Product Analysis (Volume: Kilo Tons & Revenue: USD Million, 2013 - 2024)
• Organic
• Inorganic
• Rheology modifier Application Analysis (Volume: Kilo Tons & Revenue: USD Million, 2013 - 2024)
• Paints & Coatings
• Personal Care
• Adhesives & Sealants
• Textiles
• Pharmaceuticals
• Construction
• Pulp & Paper
• Others
Rheology modifier Regional Analysis (Volume: Kilo Tons & Revenue: USD Million, 2013 - 2024)
o North America
o Europe
o Asia Pacific
o Latin America
o MEA
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/rheology-modifiers-market
The industry is highly fragmented with key market participants comprising Ashland, Arkema Group, BASF SE, DOW Chemical Company, and Lubrizol Corporation
Contact Us
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.a
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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