Global Rheology Modifiers Market: Snapshot
The global rheology modifiers market is foreseen to witness a high level of competition among top companies operating therein due to a strong opposition from other players across chief regions. Due to their widespread worldwide presence and sturdy supply chains that facilitate the achievement of a large share, several companies could be minimally affected by the ignorable cost of switching for a greater percentage of consumers. Although there could be a few restraints hampering the growth of rheology modifiers as is the case with most markets, ample of business prospects are anticipated to show face in the coming years.
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The global rheology modifiers market is forecasted to not be exclusively dependent on the printing industry. This could open up new avenues for the market as opportunities take shape on the back of other promising industries such as textiles, pharmaceuticals, and personal care. The demand for rheology modifiers is predicted to testify a telling rise in the near future on account of a towering consumption of personal care products and cosmetics. This growth in the demand could be fortified by the increasing densities of urban population and rising disposable income of consumers.
Two other industries, viz. automotive and consumer goods, are prognosticated to exhibit a soaring demand for rheology modifiers. Moreover, these industries could provide rewarding ventures for companies dealing with rheology modifiers as they garner a massive growth in the foreseeable future. As the demand for rheology modifiers increases in future, it could become effortless for new players to gain access into regional markets and other players to widen their product portfolio.
Global Rheology Modifiers Market: Overview
Rheology modifiers, popularly known as thickeners or viscosifiers, find applications in different industries such as adhesives, food, inks and coatings, pharmaceuticals, cosmetics and personal care, textile, detergents, ceramics, paper, and paints, among others. Rheology modifiers alter the viscosity of the formulation to impart a particular functionality to the product that ranges from enhancing mouthfeel, body, moisture retention, texture, and suspendability of soluble ingredients to augmenting stability and dry strength, reducing syneresis, thwarting bacterial attack, and stopping shrinkage. Thickeners can be extracted from natural as well as synthetic sources.
Global Rheology Modifiers Market: Key Trends
The single-most important driver of the global market for rheology modifiers is the paints and coatings industry. This is because the modifiers bring about the desired consistency in the flow to get the required appearance in paints and coatings. Once added to paints, they augment properties such as anti-sagging, emulsion stability, and leveling. The modifiers also serve to enhance the durability of the paints, especially water-based paints. Another factor driving growth in the market is the swift pace of infrastructure building on account of a burgeoning population and fast urbanization.
Hobbling the growth in the global rheology modifiers market, on the contrary, is the declining printing ink consumption because of the soaring popularity of the digital media such as internet, electronic publications, e-books and e-papers that has damped demand for newspapers, books, catalogs, and other printed materials.
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Global Rheology Modifiers Market: Market Potential
The booming personal care industry spells massive opportunity for the global rheology market as the modifiers find application in most personal care products such as shampoos, body lotions, conditioners, and skin creams. Many players are entering into collaborations with personal care products manufacturers to bolster their positions. A case in point is the acquisition of SRLH Holdings that manufactures active ingredients for anti-perspirants by Elementis, a rheological additives company.
Rising fortunes of people worldwide, particularly in India and China will also propel the market in the future. One factor that impacts the manufacture of rheology modifiers market is the volatility in oil prices. This is because crude oil is the primary raw material used to produce the different raw materials for the rheology modifiers synthesis.
A noticeable trend in the global rheology market is the popularity of organic rheology modifiers, mainly used in paints and coatings and pharmaceuticals and construction, to get the required consistency of end-use products.
Global Rheology Modifiers Market: Regional Outlook
From a geographical standpoint, North America is a key region in the global market for rheology modifiers on account of a robust market in the U.S. The market in the U.S. has seen exponential growth due to the burgeoning demand for personal care products driven by the increasing number of discerning consumers and a sizeable proportion of aging population needing pharmaceutical products. Asia Pacific, however, is slated to overtake the rest of the regions due to increasing construction spending accompanied with a robust demand in the automotive industry. China in Asia Pacific is a major market on account of the massive construction activity in the region due to the increasing population and economic growth.
Global Rheology Modifiers Market: Competitive Analysis
The global market for rheology modifiers is highly fragmented in which the top five market players together hold just a little over 20% of the market share. Some such well-entrenched industry participants are Ashland, DOW Chemical Company, BASF SE, Lubrizol Corporation, and Arkema Group.
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