A new report published by Transparency Market Research talks about the global rheology modifiers market. The report states that the global rheology modifiers market is expected to grow at a modest CAGR of 3.7% over the course of the given forecast period of 2016 to 2024. The global rheology modifiers market is projected to reach an overall market valuation of US$6.8 bn by the fall of 2024. This growth in valuation of the global rheology modifiers market is a significant jump from the original valuation of US$4.9 bn reported in 2015.
From a product perspective, the market is expected to develop at a faster rate after gaining a larger share of 63.0% in the year 2015. In terms of geography, the global rheology modifiers market is expected to dominated by the Asia Pacific and is projected a healthy CAGR of 3.9% over the course of the given forecast period of 2016 to 2024.
The report published by TMR predicts the global rheology modifiers market to have a fragmented competitive landscape. Across the key regional market, the global players are projected to face stiff competition from the local players over the mentioned forecast period. Due to the presence of a high number of customers, the cost of altering between different companies can be ignored. This is also attributed to the strong supply chain module and the international presence of the big players. Some of the key players in the global rheology modifiers market include names such as BASF SE and Akzo Nobel N.V. among others.
Increasing Demand from Personal Care and Paints & Coatings Domain to Drive Market Growth
The rheology modifiers have the ability to change the physical characteristics of fluids. It allows these fluids to for better functionality is expected to fuel the demand in the market through a different application such as construction, coatings, and paints. With a higher level of activities experience in such applications, any increase in their growth is also expected to drive the growth of the market in the coming years. The increasing demand from the automotive industry is also expected to fuel the growth of the global rheology modifiers market in the coming years of the forecast period.
Another key factor in the growth of the global rheology modifiers market is the increasing sales of personal care products. Features such as leveling, stabilizing emulsions, and anti-sagging are expected to fuel the growth of the global rheology modifiers market. In addition to this, oncology based rheology modifiers are expected to find increase usage in coatings and paints and personal care products domain. Polyurethane, guar gum, xanthan gum, and other rheology modifiers are also expected to find their applications in different industries on account of their high efficiency and ease of production.
Growth of Digital Media Slows Down Demand from Revenue Generating Printing Sector
The above-mentioned growth factors are good for the global market. However, it is not without some challenges. One of the key restraining factors for the growth of the global rheology modifiers market is declining demand from the printing companies and publication houses. This is a significant factor to consider as the printing sector has always been a key end user of rheology modifiers. With a growing inclination towards digital media and opportunities for the printing ink manufactures is expected to be on the lower side in the coming years. This may hamper the growth of the market in the future.
The information presented in this review is based on a TMR report, titled “Rheology Modifiers Market (Product - Organic and Inorganic; Application - Paints and Coatings, Personal Care, Adhesives and Sealants, Textiles, Pharmaceuticals, Construction, Pulp and Paper, and Mining Chemicals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global rheology modifiers market has been segmented as presented below:
- Paints and Coatings
- Personal Care
- Adhesives and Sealants
- Pulp and Paper
- Mining Chemicals
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
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