The global sizing and thickening agents market is expected to witness strong growth during the forecast period between 2021 and 2031.
Sizing agents are products applied to fibers in a bid to decrease porosity of the product and make them suitable for printing purposes.
Thickening agents are deployed to improve fluid viscosity without impacting the product features. Thickening agents have witnessed increased demand from food and beverage industry to help increase viscosity.
COVID-19 pandemic negatively impacted growth in global sizing and thickening agents market. Increasing global cases led to governments imposing stringent social distancing regulations and lockdowns in a bid to contain the spread of the virus.
This led to temporary or permanent shutting down of food manufacturing units which reduced the demand for sizing and thickening agents and lowered market growth.
However, with most population sections vaccinated twice and approval given to the use of third booster dose it is expected that food manufacturing facilities will resume operations soon, which could lead to increased demand for sizing and thickening agents and help in market growth.
Rising demand for natural products in food and beverages industry is the key growth driver for global sizing and thickening agents market.
Also, increasing consumer demand for clean label food products is triggering the demand for sizing and thickening agents and help create revenue-generating opportunities for prominent players in global market, in the coming years.
In addition to this, surge in demand from pharmaceuticals as well as paper and paperboard industries could help fuel the growth in overall sizing and thickening agents market, in the years ahead.
Other factors such as increasing customer demand for convenient food products and rising disposable income could also lead to contribute to growth in global sizing and thickening agents market, in future.
Food and beverages end-use segment is expected to emerge as largest revenue contributor to overall market because of increasing demand to improve food texture and viscosity of food products in leading economies globally.
Competition in global sizing and thickening agents market is intense owing to prominent presence of well-established players. It is anticipated that many of these players will hold a large share in the overall market, in future.
Launch of new products could help leading sizing and thickening agents market players gain an edge over competitors and help generate large amounts of revenue.
Prominent players could sign collaborative agreements with smaller players in a bid to expand their market presence and increase their revenue shares.
Some of the well-established players in global sizing and thickening agents market include The Dow Chemical Company, Cargill Incorporated, Ashland, BASF SE, and DuPont.
The global sizing and thickening agents market is divided into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
North America is expected to be the as dominant region in global sizing and thickening agents market in the coming years because of increasing demand from food and beverages industry in countries such as the U.S and Canada.
Europe is projected to witness significant growth in overall market in future because of rising demand from paints and cosmetic industries in countries such as Germany and the U.K., contributing significantly to market growth.
Asia Pacific is expected to witness strong growth in global market in future because of increasing presence of market players in countries such as India and China.
Other regions of the world such as Middle East and Africa and Latin America are expected to witness moderate growth in global sizing and thickening agents market, in the coming years.