The global rheology modifiers market is a highly fragmented one with a high level of competition across major regional locations. While most of the key players with a global presence – such as BASF SE and Akzo Nobel N.V. – hold solid supply chains in order to enjoy large market shares, the cost of switching between players is ignorable for most consumers. This allows a wider scope for new players to enter the global rheology modifiers market.
“Construction and paints and coatings have always maintained a high demand for theology modifiers, owing to their abilities to change the physical properties of fluids to better suit a function,” says a Transparency Market Research analyst. “For any market based this deeply in is application industries, any growth in these applications will feed the primary market as well. The same applies to the global rheology modifiers market, as the high level of activities in most of its application industries is expected to help expand the scope and magnitude of rheology modifiers.”
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Paints and Coatings Industry Provides Best Growth Opportunity for Rheology Modifiers Players
The global industry for paints and coatings is expected to grow at significant rate over the next few years. This growth rate is primarily attributed to the high levels of construction activities as well as the currently booming automotive industry. It is also a major application of the global rheology modifiers market. Therefore, a growth rate in paints and coatings demand is a welcome sign for the global rheology modifiers market. Rheology modifiers are extremely useful in the manufacture of paints and coatings due to their many abilities such as stabilizing emulsions, leveling, and anti-sagging.
Another factor driving the growth of the global rheology modifiers market is the growth in demand from personal care products. The increasing population densities in urban areas and growing disposable income levels are promoting a higher consumption level of personal care products and cosmetics, therefore increasing the demand for theology modifiers.
Printing Ink Consumption Declines, Hampering Rheology Modifiers Sales
The current era of technology is promoting the use of digital media and text over printed media. Newspapers, magazines, and books are rapidly being replaced with websites and e-books. As a result, the manufacturers of printing inks have taken a major hit in profits. Their business scope is expected to slowly decline over the coming years.
Consequently, the global rheology modifiers market, which has always enjoyed an important part in the printing industry, is witnessing a decline in demand from printing companies and publication houses. Consumers are increasingly preferring online and digital media due to the proliferation of fast and affordable internet. Players from the print industry have shifted their priorities and investments from physical printing to digital media, cutting off their demand for rheology modifiers.
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Owing to a collective of all the above factors, the global rheology modifier market is expanding at a CAGR of 3.7% within a forecast period from 2015 to 2024, in terms of revenue. This market was recorded around US$4.8 bn in 2015 and will be valued around US$6.8 bn by the end of 2024. In terms of volume, the global rheology modifier market is expected to be reach over 2,585 kilo tons by 2024. The key driver for this market will continue to be the booming paints and coatings industry.
All facts and statistics mentioned above are taken from a research report by TMR, titled “Rheology Modifiers (Organic and Inorganic) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
Key Segments of the Global Rheology Market
Rheology Modifiers Market - Product Analysis
Rheology Modifiers Market - Application Analysis
- Paints & Coatings
- Personal Care
- Adhesives & Sealants
- Pulp & Paper
- Others (Including Mining Chemicals, etc.)
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