by The rheology modifiers market has seen robust growth in recent years due to its wide range of applications in paints & coatings, pharmaceuticals, personal care products, and construction materials. Rheology modifiers help improve the flow, extrusion, and leveling properties of various formulations. Some key functions of rheology modifiers include anti-settling, substrate wetting, suspension stabilization, and texture enhancement. Rapid urbanization across developing nations has significantly boosted the demand for building materials, automotive coatings, and personal care products, driving the need for rheology control additives.
The Global Rheology Modifiers Market is estimated to be valued at US$ 12.08 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the rheology modifiers market are BASF SE, The Dow Chemical Company, Lubrizol Corporation, Clariant, Arkema, Croda International Plc., Akzo Nobel N.V., Elementis Plc., BYK Additives & Instruments, Harmony Additives Private Limited, and Imperial Industrial Minerals Company. These players are focusing on new product launches and capacity expansions to strengthen their foothold.
The growing construction industry along with rising infrastructural investments is a major factor driving Rheology Modifiers Market Demand in applications such as cement and concrete admixtures. Rapid urbanization in developing economies is further boosting this demand.
The key players are actively expanding their global footprint by setting up manufacturing facilities across different geographies. For instance, Lubrizol established its new specialty additive manufacturing plant in Rutland, Vermont in 2022. This will help the company to better serve customers in the North American region.
Market key trends
One of the key trends gaining traction in the rheology modifiers market is the shift towards bio-based and sustainable options. Stringent regulations regarding the use of volatile organic compounds along with increasing consumer preference for green chemicals have prompted manufacturers to develop eco-friendly rheology modifiers derived from plant oils and other natural sources. Leading companies are investing heavily in R&D to commercialize bio-based modifiers with comparable performance to petroleum-based variants.
Porter’s Analysis
Threat of new entrants: New companies can enter the market easily with low investment in production but established companies have economies of scale and brand loyalty advantage.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but product differentiation gives advantage to existing brands.
Bargaining power of suppliers: A few major global players supply raw materials hence suppliers have modest bargaining power over price setting.
Threat of new substitutes: New product innovations can disrupt the market but regulatory approval process and customer loyalty to established products curb threat of substitutes.
Competitive rivalry: Intense competition exists among dominant multinational corporations to gain greater market share through product innovation and geographical expansion.
Geographical Regions
North America holds the largest share in the rheology modifiers market value owing to well-established end-use industries like paints & coatings, construction, and personal care in the region. The U.S. accounts for the majority demand.
Asia Pacific region is expected to witness the fastest growth during the forecast period driven by increasing applications in developing nations such as China, India, Indonesia, and Malaysia. Expanding production facilities of major players and growing painting, construction activities support the market rise.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
