Press release
Global Viscosifiers Market Analysis and Forecast (2023-2028): Growing Demand with 5.5% CAGR
Viscosifiers Market Analysis
The global viscosifiers market is expected to grow significantly in the coming years due to the increasing demand from various end-use industries. Viscosifiers are materials that help to increase the viscosity of a fluid, which is an essential property for many industrial processes. The primary applications of viscosifiers are in the oil and gas, food and beverages, and personal care industries.
Market size and forecast:
The global viscosifiers market was valued at $4.4 billion in 2020 and is expected to grow at a CAGR of 5.5% from 2021 to 2028. The growth of the market is driven by the increasing demand for energy and the need for exploration and production of oil and gas.
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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.
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
Basis of product type
• Organic
• Inorganic
Basis of applications
• Paint and Technology
• Personal Care
• Adhesives and sealants
• Textiles
• Pharmaceuticals
• Construction
• Paper and Pulp
• Mining Chemicals
• Others
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Drivers, Restraints and Challenges:
Drivers:
• Volatility in raw material prices may hinder the growth of the viscosifiers market.
• Stringent environmental regulations on the use of chemicals and the disposal of waste products may limit the market growth.
• Limited availability of raw materials in some regions may result in supply chain disruptions.
• High manufacturing and transportation costs associated with viscosifiers may impact the affordability of the products.
• Intense competition from substitute products such as guar gum, xanthan gum, and carrageenan may pose a challenge for market growth.
Restraints:
• Volatility in raw material prices may hinder the growth of the viscosifiers market.
• Stringent environmental regulations on the use of chemicals and the disposal of waste products may limit the market growth.
• Limited availability of raw materials in some regions may result in supply chain disruptions.
• High manufacturing and transportation costs associated with viscosifiers may impact the affordability of the products.
• Intense competition from substitute products such as guar gum, xanthan gum, and carrageenan may pose a challenge for market growth.
Challenges:
• Developing viscosifiers with better performance characteristics and lower environmental impact.
• Meeting the evolving regulatory requirements in different industries and geographies.
• Addressing the increasing demand for sustainable and natural viscosifiers.
• Developing effective marketing and distribution strategies to reach potential customers.
• Responding to the changing consumer preferences for new and innovative viscosifier products.
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.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain
Regional analysis includes:
• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Report Highlights:
• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint.
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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.
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