Vancouver, British Columbia, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The global rheology modifiers market is projected to reach a market size of USD 9,292.8 Million by 2027 and register a CAGR of 3.3%, over the forecast period, according to latest analysis by Emergen Research. Rheology modifiers are witnessing high demand owing to rise in production of crude oil to bridge the growing supply-demand gap. The oil recovery process involves use of several working fluids to recover crude oil from a reservoir.
Various rheology modifiers are used in the oil recovery process, and demand for these modifiers has been increasing rapidly owing to a steady shift towards more raw material reservoirs that cannot easily be accessed. Rheology modifiers used in the oil & gas industry are capable of withstanding harsh and extreme conditions in oil wells. For instance, the salt concentration in working fluids frequently gets extremely high, and rheology modifiers are required to function effectively in such conditions, and are also subjected to varying and extreme temperatures.
In the cosmetics & personal care industry, rheology modifiers are used in body washes, shampoos, lotions, facial cleansers, and gels. These additives enable control of flow characteristics, stabilization of formulations, and texture improvement. This enables cosmetic constituents to remain suspended for a longer period. Rising global demand for cosmetics is a major factor resulting in rising demand for rheology modifiers.
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Companies Profiled in Rheology Modifiers Market Report Include:
Dow Chemical Company, Lubrizol Corporation, Ashland Global Specialty Chemicals Inc., Arkema SA, Croda International PLC, Akzo Nobel NV, Elementis PLC, Cargill Inc., BASF SE, and Clariant AG
Key Highlights of Report
- In January 2020, Milliken & Company made an announcement about the acquisition of Borchers Group Limited from The Jordan Company. LP. Borchers Group Limited produces a wide range of additives, including rheology modifiers.
- Inorganic rheology modifiers are used as secondary thickening agents in aqueous formulations for enhancing the anti-settling, anti-sag, and anti-spattering features of a coating.
- Rheology modifiers are of immense significance in the pharmaceutical industry, wherein these are used to control drug formulation and development, raw material quality, drug effectiveness, patients' adherence to the prescribed drug, and others.
- North America accounted for a significantly large revenue share in the global rheology modifiers market in 2019. Dominance of this region can be attributed to revenue share contribution from the US market, driven by surging demand for cosmetics and personal care products. The high demand in the US is due to factors such as growing focus on personal appearance and hygiene, availability of new and more multi-purpose cosmetics and personal products, availability of products for consumers of varying age groups, high product visibility at physical stores as well as on e-Commerce platforms, and high spending capacity of consumers in the country. Furthermore, presence of large geriatric population is another factor driving product demand and market growth in the region.
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Emergen Research has segmented the global rheology modifiers market in terms of product type, distribution channel, industry vertical, and region:
- Product Type Outlook (Revenue, USD Billion; 2017–2027)
- Organic
- Inorganic
- Distribution Channel Outlook (Revenue, USD Billion; 2017–2027)
- Online
- Offline
- Industry Vertical Outlook (Revenue, USD Billion; 2017–2027)
- Paints & Coatings
- Adhesives & Sealants
- Cosmetics & Personal Care
- Inks
- Pharmaceuticals
- Building & Construction
- Oil & Gas
- Others
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- Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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About Emergen Research
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