The rheology modifiers market comprises water-based systems that are used to alter the flow properties of formulations. Rheology modifiers help control the viscosity and yield stress of fluids and impart important processing benefits. Organic rheology modifiers including cellulosic, acrylic and modified clay modifiers are widely used in various applications such as paints & coatings, personal care products, ceramics, and construction materials.
The Global rheology modifiers market is estimated to be valued at US$ 8.99 Bn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 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. Secondly, growth in end-use industries such as construction, oil & gas, food & beverage, pharmaceutical, and personal care industries is expected to offer key opportunities for players in the global rheology modifiers market. Furthermore, increasing construction activities in emerging economies such as China, India, Indonesia, Thailand, Mexico and Brazil coupled with rising adoption of rheology modifiers over solvent-based systems is expected to drive the global expansion of rheology modifiers market.
Market Drivers
The increasing demand from the construction industry is the key driver driving the demand for Rheology Modifiers Market Share. The growing construction industry especially in developing economies across the globe is expected to increase the use of materials like cement, ceramic and other composites where rheology modifiers are used. Rheology modifiers improve the flow properties of cement mortar, grouts, and concrete mixtures which provides ease of application during construction activities. Thus, rapid infrastructure development would favor global demand of rheology modifiers over the forecast period.
PEST Analysis
Political: Regulations related to use of certain additives in food and pharmaceuticals limit growth. Economic: Economic downturns reduce spending on discretionary and non-essential products affecting demand. Social: Growing health awareness boosts demand for additives ensuring product quality and safety. Technological: Development of bio-based and sustainable modifiers aids wider application scope and compliance with environment regulations.
North America holds the largest share of the global rheology modifiers market in terms of value, followed by Asia Pacific and Europe. The United States accounts for the major share of the North American market due to high demand from key end-use industries like paints & coatings, consumer goods, construction, and pharmaceuticals. Factors such as strong economic growth, increasing consumption of processed food, and growing paints & coatings industry drive the US market.
Asia Pacific is projected to be the fastest growing regional market for rheology modifiers between 2024 to 2031. Rapid industrialization and infrastructural development are key demand drivers in the region. Countries such as China and India exhibit high growth potential owing to rising standards of living, expanding middle class population, and growing use of personal care products. Population growth and significant investments in end-use sectors also support the Asia Pacific market.
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