New York, Oct. 02, 2023 (GLOBE NEWSWIRE) -- In a comprehensive research analysis conducted by ChemView Consulting, the Rheology Modifiers Market is set to surpass an impressive valuation of USD 10,909.5 million and register around 3.7% CAGR during the forecasted period of 2023 to 2033.
North America to be the Leading Region in the Rheology Modifiers Market
North America holds a significant share of the global rheology modifiers industry, driven by robust industrial sectors and high consumer demand. The household sector stands as the largest segment, with its importance highlighted in everyday products, and is valued at USD 7586.1 million in 2023.
Key Drivers Fueling the Rheology Modifiers Market Growth
The market's expansion is primarily fueled by increasing demand in various applications such as paints & coatings, adhesives & sealants, and cosmetics & personal care products. Additionally, the surge in crude oil production and shale gas exploration activities globally has also been significant drivers for this market.
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Key Challenges Inhibiting Rheology Modifiers Industry Progression
Despite its growth drivers, the market faces several challenges that could hinder its expansion. Fluctuating costs of raw materials and stringent environmental regulations are among the primary concerns affecting the market.
Regional Insights
- The US shows robust growth due to advanced manufacturing capabilities and a focus on sustainable products.
- The rheology modifiers market outlook in Europe is strong, driven by innovation and stringent environmental regulations.
- Japan’s rheology modifiers market is stable, characterized by high-quality manufacturing and a focus on R&D.
- The market in China and India is expected to grow at a brisk pace, fueled by industrialization and a burgeoning middle class.
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Rheology Modifiers Industry Outlook and Forecast By Segments
By end-use: The household sector dominates the market, accounting for the largest share. This segment's significance is attributed to the widespread use of rheology modifiers in everyday products like detergents, cleaners, and personal care items.
By Application: Paints & coatings lead in demand, driven by the construction and automotive industries. Rheology modifiers are essential in this sector for improving the texture, flow, and leveling properties of paint formulations.
By Type: Organic rheology modifiers are the fastest-growing segment, projected to expand rapidly during the forecast period. These modifiers offer greater diversity in terms of chemistry and are predominantly based on natural raw materials, making them eco-friendly and more versatile.
The Dow Chemical Company, BASF SE, Lubrizol Corporation, Arkema, Clariant, and other key players are innovating and expanding their global footprint in the rheology modifiers market.
BASF SE has made a significant contribution to the market with the introduction of Rheovis HS 1181. This product is an APEO-free HASE thickener specifically engineered for high PVC paints. The innovation aims to meet the escalating demand for environmentally friendly yet effective solutions in the paint & coatings industry.
Clariant has launched Aristoflex, a new rheology modifier that is tailored for high-end personal care products. This product aims to meet the growing consumer demand for premium quality cosmetics and personal care items, offering improved texture, consistency, and stability.
The Dow Chemical Company is strategically focusing on sustainable solutions in the rheology modifiers market. While specific products have not been disclosed, the company's approach aims to align with global sustainability goals, thereby offering rheology modifiers that are both effective and environmentally responsible.
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