Rheology Modifiers Market Share, Segments and Key Drivers 2023
Market Highlights:
Global Rheology Modifiers Market is driven by the scope of its application in various sectors such as paints & coatings, cosmetics & personal care, adhesives & sealants, and others. Moreover, the paints & coatings segment is set to grow at a higher CAGR owing to the boundless use of adhesives in the sector.
Rheology Modifiers are agents used for the production of inks, paints, and others. They are extensively used in end-use industries to improve the physical features, impart thermal stability, and high quality to the final product. Moreover, they also provide reliability and versatility to the product.
Competitive Analysis
Some of the Well-Known Players Functioning in the Global Rheology Modifiers Market are BASF SE (Germany), Arkema S.A.(France), Clariant (Switzerland), The Dow Chemical Company (U.S.), Elementis plc (U.K.), Akzo Nobel N.V. (the Netherlands), The Lubrizol Corporation (U.S.), Croda International Plc (U.K.), Ashland ( U.S), and Air Products and Chemicals, Inc ( U.S.) among others.
Market Segmentation:
Global Rheology Modifiers Market is segregated into the Type and Application.
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The market by Type is classified into organic and inorganic segments.
The market by Application is bifurcated into paints & coatings, cosmetics & personal care, adhesives & sealants, home care, institutional & industrial products (hi&i) products, construction, inks, pharmaceuticals, and oil & gas.
Market Scenario:
The organic segment is the most widely used type in the market due to its growing consumption in heavy end-use industries such as paints & coatings, cosmetics & personal care, and other sectors. Moreover, it is estimated that this segment is set to dominate the market due to sag resistance, and high quality offered by the product.
The paints & coatings sector is the leading application segment in the market and is anticipated to observe a higher CAGR due to extensive use of the product to impart high-temperature resistance, glossy finish, efficiency, and other features to the product.
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Regional Analysis:
Geographically, Rheology Modifiers Market is segmented across five regions in the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the majority of the market share due to advantages offered by the product such as flexibility, unique elongation and growing consumption of Rheology Modifiers in major industries. North America is set to expand at a significant rate owing to growing demand for the product in cosmetics & personal care, adhesives & sealants, and other sectors. In this region, the growing infrastructure development and an increase in the production capacity are driving the market. Due to these factors, the demand for the product is growing in the region. The rise in construction, oil & gas, pharmaceutical, and other sectors has driven the market in the European region. Due to boundless use of the product in major industries, Latin American region is estimated to witness a remarkable growth in the market. The rising demand for Rheology Modifiers in paints & coatings, oil & gas, and construction sectors is projected to drive the market in the Middle East & African region during the forecast period.
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