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Global Rheology Modifiers Market to Reach USD 6.83 Billion by 2024: Global Market Insights

Published on 2016-12-07. Author : SpecialChem

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. According to Global Market Insights, Inc., “the global rheology modifiers market having had a worth of USD 4.9 billion in 2015, is estimated to surpass USD 6.83 billion by 2024.

Rheology Modifiers Market
U.S Rheology Modifiers Market share, by application, 2013-2024 (USD Million)

Adhesives & Sealants Drive the Market

Rheology modifiers are used in adhesives & sealants to improve its application properties of solvent-borne, water-borne, high-solid systems and UV-cured. For example, hectorite, polyether polyol associative thickeners and fumed silica are mainly used in the industry. In 2015, adhesives & sealants market was marked more than USD 45 billion and must exceed USD 70 billion by 2024.

The personal care industry, which is yet another booming industry, is also a vital driving factor for the rheology modifiers market. The 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 the 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.

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 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 the rheology modifiers market size, crude oil being the essential raw material for these compounds.

The growth in the end user industries across the globe will fuel the rheology modifiers market size. The 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 the US will also drive the regional revenue.

Asia Pacific to Register Highest Growth

The 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 the APAC rheology modifiers market growth.

The industry is highly fragmented with key market participants comprising Ashland, Arkema Group, BASF SE, DOW Chemical Company, and Lubrizol Corporation

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is one of the global market research and consulting service providers; offering syndicated and custom research reports along with growth consulting services. Its 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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Source: Global Market Insights
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