Paints and coatings application segment of rheology modifiers market collected a revenue of USD 1.5 billion in 2015 and will grow lucratively over the years ahead. Construction and automotive sector will fuel the demand for paints & coatings. Asia Pacific has been observing a massive rise in the number of infrastructure development activities. Statistics state that China invested more than USD 1.7 trillion in the developments of various constructions in 2015, subject to which Asia Pacific rheology modifiers industry will register the highest CAGR of more than 4% over the coming timeframe. In addition, many of the industry giants in the automotive sector have been expanding their regional presence across the emerging economies of Asia Pacific, which will further augment the industry trends. India and China are slated to contribute significantly toward the regional growth. Escalating improvement in the healthcare facilities across Asia Pacific will also fuel the requirement of the product for pharmaceutical applications, thereby propelling APAC rheology modifiers industry.
Increasing usage of paints and coatings, primarily across the automotive and residential sectors will stimulate rheology modifiers market. The product is extensively used to maintain the flow capability of fluids. It is also used to improvise on the characteristics such as leveling, anti-sagging, and emulsion stability, when mixed with paints. Consumers are now prone to a changing lifestyle, subject to the increased disposable incomes and subsequently rising spending capability of the individuals. This is expected to positively favor rheology modifiers industry size, as this product plays a crucial role in the manufacture of personal care products such as skin creams, conditioners, body lotions, and shampoos. As per the report by Global Market Insights, Inc., “Worldwide rheology modifiers market having had a revenue of USD 4.94 billion in 2015 and will collect notable revenue with an annual growth rate of 3.7% over 2016-2024.”
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Rheology modifiers find applications in various pharmaceutical products such as creams, ointments, gels, syrups, and lotions, to maintain the semi solidity. The pharmaceutical sector, particularly, has been observing remarkable gains across North America, which will positively impact U.S. rheology modifiers market. As per the study, North America rheology modifiers industry collected a revenue of USD 1 billion in 2015 and will exhibit significant annual growth rate over the years ahead. The factors contributing toward the industry growth are the surging demand for personal care products coupled with the escalating geriatric population.
Personal care application segment in rheology modifiers industry will register an annual growth rate of more than 3.5% over the coming seven years. Nowadays, consumer preferences have taken a turn for the better, as they are inclined toward hygienic, clean products. In addition, the awareness among the people about personal care is also growing considerably, which in turn, will boost rheology modifiers market share noticeably. The usage of this product in personal care applications will enhance the properties like suspension, stabilization, and consistency. In the paints & coatings and personal care sector, inorganic products such as silica and organo-clay based constituents are primarily used, which will impel inorganic rheology modifiers industry.
Organic modifiers are mainly used across various end user sectors such as construction, pharmaceutical, and paints & coatings. Organic rheology modifiers industry size is anticipated to generate a considerable revenue by 2024, growing at an annual rate of more than 3.5% over 2016-2024. The notable types of organic modifiers, which are significantly used for various applications include microcrystalline cellulose, xanthan gum, acrylic polymers, and guar gum. Adhesives and sealants sector will also contribute considerably to rheology modifiers market growth, owing to the extensive use of the product in sealants & adhesives to improve the application properties of high solid, solvent-borne, and water-borne systems.
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The top five participants of rheology modifiers industry covered more than 20% of the global demand in 2015. Market players have been investing significantly in the exploration of alternative raw material to manufacture the product as crude oil, the primary raw material, is depleting by the day. Cost-effectiveness is also another key factor that companies need to consider when manufacturing the product. The noteworthy players in rheology modifiers market are Arkema Group, BASF SE, DOW Chemical Company, Lubrizol Corporation, and Ashland Inc.