Rheology Modifiers Market Size

Rheology Modifiers Market Size

Rheology Modifiers Market size was USD 4.94billion in 2015, and is anticipated to grow at a CAGR of 3.7%.

Global rheology modifiers market is primarily driven by booming paint & coatings industry. Global paints & coatings industry was valued more than USD 130 billion in 2015 and is projected to touch USD 210 billion by 2024, with estimated gains more than 5% CAGR. These modifiers play a significant role in paints & coatings application by controlling the flow characteristics to obtain the desired appearance. When added to paints, they enhance properties such as emulsion stability, anti-sagging, and leveling. Also, these modifiers are primarily employed to maintain consistency and increase the paints durability, particularly water-based paints. Furthermore, growing infrastructure, rising population and rapid urbanization will significantly propel rheology modifiers market size in the next few years.

The global personal care industry was valued more than USD 580 billion in 2015 and must reach USD 790 billion by 2024, at 3.5% growth. These modifiers are employed in majority of personal care products including various skin care and hair care products such as shampoos, conditioners, skin creams and body lotions. Improved lifestyle along with increasing disposable income of customers in economies such as India and China will propelpersonal care products consumption. This, in turn, is projected to boost industry growth over the forecast timeframe. These are also employed in pharmaceutical industry for various semi-solid formulations such as ointments, creams, lotions, syrups and gels.Increase in aging population, lifestyle changes and improvement in health care facilities in China and India are boosting the pharmaceuticals industry, consequently propellingrheology modifiers market size.

These are employed in adhesives & sealants to enhance their application properties of water-borne, solvent-borne, UV-cured and high-solid systems. For instance, fumed silica, hectorite and polyether polyol associative thickeners are primarily used in the adhesives & sealants industry. The global adhesives & sealants industry was valued at over USD 45 billion in 2015 and is forecast to exceed USD 70 billion by 2024.

Fluctuating crude oilprices has been a major factor influencing commodity chemicals cost and various raw materials employed in the product manufacturing. Crude oil is the basic raw material used to produce various types of raw materials for the rheology modifiers synthesis. Therefore, fluctuating crude oil prices is estimated to be key factor influencing rheology modifiers market price trend. In addition, declining printing ink consumption due to increasing consumer preference for digital media such as internet, electronic publications, e-books and e-papers has hampered the printed newspapers, published books, catalogs and other printed material demand.