The substance that is employed to alter and mutate the flow of matter is known as rheology modifiers. Their prominent employment lies in managing the physical and chemical properties of fluid. The rheology modifiers are believed to be the chief ingredients in paints, inks as well as coating because they are basically deployed to manage the preferred physical and chemical properties. It has been estimated that the global rheology modifiers market will witness a robust CAGR in the forecasted period.
The key factor that can be attributed to the rising market growth is the augmentation in the application sector including paints, coating, cosmetics, personal care, pharmaceuticals , industrial chemicals and others sectors. Other factor that is acting as a booster is enhanced construction and industrial activities in developing nations. However, the factors that are retraining the overall growth of the market include mounting pressure from the environmental norms and policies laid down by the government authorities.
The strict environmental policies are eventually propelling the producers to take up the process of reformulation of their products that will consequently add up to the unnecessary and increased cost of research and development. Other factors that are turning a major hurdle in the growth of the market include declining consumption of ink due to digitalization and increasing paperless activities. Market size on the basis of type spans Inorganic rheology modifiers, and Organic rheology modifiers.
Market size on the basis of application spans Paints and Coatings, Inks, Cosmetics and Personal Care, Construction compounds, Paper and paperboard coating, and Others. Among all the applications, the segment of Paints and Coatings has taken over the largest share in the market. In addition, the Cosmetics and personal care segment is also experiencing a robust growth which is likely to benefit the Rheology modifiers Market.
Market size on the basis of geography spans North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East and Africa. As far as geography is concerned, Asia Pacific region is emerging as a promising region for rheology modifiers market and plus it has been considered as the largest producer as well as consumer of rheology modifiers, the reason being growing construction and industrial activities in the particular region.
The other key factor that is fueling the level of demand in Asia Pacific is development of paints and coating industry in the particular region. Other than that, Europe and America are likely to display sluggish growth. The key participants in the global rheology modifiers market include Arkema, Clariant AG, BASF SE, Evonik Industries AG, Ashland, The Lubrizol Corporation, Elementis plc, and Akzo Nobel N.V.