Views:6 Author:Doris Chen Publish Time: 2020-12-09 Origin:News
Rheology Modifiers Market size is set to reach USD 6.83 billion by 2024; according to a new research report by Global Market Insights, Inc.
Paint & coatings dominated the global rheology modifiers market size and accounted for more than 30% of global share in 2015. These are extensively used to upgrade paint properties including emulsion stability, leveling and anti-sagging. In water based paints, they are used to increase the paints durability and maintain consistency. Paints & coatings market generated revenue around USD 130 billion globally in 2015 and should exceed USD 210 billion over the forecast timeframe.
Rising consumer awareness complemented by increasing consumer disposable expenditure for personal care products on account of individual hygiene has propelled demand for hair & skin care goods such as shampoos, conditioners, body lotions and creams. In 2015, personal care industry was valued at over USD 580 billion and may range up to USD 790 billion by 2024, at over 3.5%. Organo-clay rheology modifiers market is primarily employed in personal care products to maintain their consistency owing to boost industry share.
These 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.
Oscillating crude oil prices is the major aspect influencing commodity chemicals cost and raw materials used in the product manufacturing. Crude oil is the elementary raw material used to produce raw materials required for rheology modifiers synthesis. Instable crude oil prices are the major reason negatively influencing rheology modifiers market price trends. Furthermore, decreasing printing ink use due to growing consumer preference for digital media may hamper industry growth.
Key insights from the report include:
Global rheology modifiers market size is forecast to reach USD 6.83 billion by 2024, with estimated gains at over 4 CAGR%.
Rheology modifiers market for organic will witness gains more than 3.5%. These modifiers are finds widespread application in end-user industries including pharmaceuticals, paints & coatings and construction to uphold the required consistency of the products.
Inorganic rheology modifiers find various application in cosmetics industry. When precipitated, they are further used in pharmaceuticals and paints & coatings industry.
In 2015, paint & coatings application was valued at over USD 1.5 billion. Growing construction and automotive industries is propelling paints & coatings demand. Consequently, driving rheology modifiers market share.
In 2015, the U.S. rheology modifiers market generated revenue over 830 million. Highest aging population and increasing personal care product demand are the key factors propelling industry growth in the U.S.
Asia Pacific, led by China, India and Japan rheology modifiers market dominated the industry and accounted approximately 35% of global volume in 2015. Rapid industrialization along with increasing construction spending the region has boosted the industry growth.
Global rheology modifiers market is fragmented with five major companies accounting over 20% of global share in 2015. The prominent industry players are Ashland, DOW Chemical Company, BASF SE, Arkema Group and Lubrizol Corporation.