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Rheology Modifiers Market is driven by Growing Demand from Paints & Coatings Industry
The rheology modifiers market comprises rheology modifiers that are additives used to alter the viscosity and flow properties of suspension or solution.Rheology modifiers help to control dispersion stability, prevent flocculation or sedimentation of particles and are used to improve processing capability and storage stability of various industrial products like paints, adhesives, construction chemicals, inks, personal care products and others. Some of the major types of rheology modifiers include organic modified clays, polysaccharides, and synthetic polymers. They find applications in industries such as paints & coatings, personal care, food & beverages, pulp & paper, pharmaceuticals, and construction.
The Global rheology modifiers market is estimated to be valued at US$ 12.08 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the rheology modifiers market are BASF SE, The Dow Chemical Company, Lubrizol Corporation, Clariant, Arkema, Croda International Plc., Ashland, Akzo Nobel N.V., Elementis Plc., BYK Additives & Instruments, Harmony Additives Private Limited, and Imperial Industrial Minerals Company.
The growing demand for Rheology Modifiers Market Size from various end-use industries like paints & coatings, construction chemicals, personal care products is expected to drive the market growth during the forecast period. Wide applications of rheology modifiers in formulating emulsions, suspensions, coatings and other products in these industries contributes to increasing consumption.
Leading players in the market are focusing on capacity expansion strategies and investing in emerging economies of Asia Pacific, Latin America, and Middle East & Africa to tap the growth opportunities in these regions. For instance, BYK Additives & Instruments inaugurated a new production line for rheology modifiers at its manufacturing facility in India in 2021.
Market drivers
The increasing demand for paints & coatings from construction and automotive industries is one of the major factors driving the growth of the rheology modifiers market. Rheology modifiers have widespread applications in formulating architectural coatings and industrial coatings. They help in improving the leveling, brushability and shelf-life stability of various paint formulations. Growing construction activities and automotive production globally has led to higher consumption of paints & coatings, thereby propelling the demand for rheology modifiers.
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