Rheology Modifiers Market is anticipated to Witness Steady Growth Owing to Increasing Application in Paints & Coatings Industry
The rheology modifiers market deals with modification of flow properties and additives which are used to increase or decrease the viscosity of substances. Rheology modifiers find wide application in industries like paints & coatings, personal care, pharmaceuticals, construction, etc. owing to their viscosity adjustment properties. They enhance the flow properties of paints & coatings by modifying the viscosity and help in improving the appearance and durability of finished products. The growing paints & coatings industry worldwide is driving significant demand for rheology modifiers.
The global rheology modifiers market is estimated to be valued at US$ 8.99 Billion in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the rheology modifiers 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. These players are focusing on new product launches and expansion strategies to gain competitive advantage.
There exists significant opportunities in constructions and paints & coatings applications owing to infrastructure development activities worldwide. Growing construction of residential & commercial buildings provides ample growth avenues.
The key players are expanding globally especially in emerging nations of Asia Pacific and Latin America to tap the growth opportunities in these regions. Regional presence helps them serve localized customer demands better and boost market share.
Market Drivers:
- Growing construction industry worldwide driving demand for paints & coatings where rheology modifiers are used extensively.
- Increasing per capita income and spending on personal care & cosmetic products boosting rheology modifiers consumption.
Market Restrain:
- Stringent environmental regulations regarding VOC emissions can hamper market prospects.
- Availability of substitutes like cellulosic thickeners and synthetic polymers also poses challenge.
Segment Analysis
The Rheology Modifiers Market Share is dominated by organically modified clay segment. These modifiers are widely used in industries like paints & coatings due to their thickening and suspending properties. They form structure within various formulations to impart textural changes and viscosity control. Organically modified bentonite clays are most common type of organoclays which enhance thixotropy and viscosity of industrial fluids like coatings and inks.
Global Analysis
North America holds the largest share in rheology modifiers market due to massive paints and coatings industry in the region. The regional market is driven by increasing demand from construction sector as well as presence of major players in US and Canada. Asia Pacific exhibits fastest growth on the back of rapid industrialization and growth of end use industries like construction and automotive in China, India and other developing countries. Growing automotive sector is propelling demand for rheology modifiers in Asia Pacific region.
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