Organic Rheological Modifiers Market Overview
The organic rheology modifiers market shows promise and has the potential to cover significant grounds in the coming years, says MRFR (Market Research Future). The global market can possibly garner a growth rate of 3.9% between 2016 and 2023 (appraisal period).
Major Boosters and Challenges
Heightened product demand in several end-use industries have led to strong growth of the organic rheological modifiers market in recent years. Paints & coatings has emerged as a key end-user and is primarily responsible for driving the market expansion worldwide. Construction, automotive, metal, furniture, and various industries are main end-users of the paints and coatings industries and therefore, the stupendous growth of these sectors across developed countries in Europe and America can be quite favorable for the organic rheological modifiers industry in subsequent years.
Cosmetics sector has been experiencing striking growth in emerging countries like Brazil, India and China, in view of rising consumer awareness about premium grooming products and their willingness to spend substantially on these items. It is anticipated that the impressive growth of the cosmetics industry globally can raise the sales of organic rheology modifiers, resulting in robust market growth. Another growth rendering aspect can be the surge in shale gas exploration as well as crude oil production.
The key manufacturers of organic rheological modifiers in the global industry are AkzoNobel N.V. (Netherlands), Dow Corning Corporation (US), The Lubrizol Corporation (US), Ashland (US), BASF SE (Germany), Arkema Group (France), Clariant (Switzerland), Croda International Plc (UK), Elementis plc (UK), Evonik Industries AG (Germany), to mention a few.
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Another prominent end-user in the global market is the pharmaceutical industry, wherein organic rheological modifiers find applications in multiple semi-solid formulations like creams, ointments, syrups, gels and lotions. Some factors encouraging the growth of the pharma sector can be the expanding elderly population, changes in lifestyles and upgradation of healthcare infrastructures in China and India, which consequently propels the demand for the organic rheological modifiers market.
The top segments considered in the MRFR study for the organic rheological modifiers industry include type, application and end users.
Types of organic rheological modifiers include cellulosic as well as synthetic.
Key applications are binders, sealants, adhesives, and others. Organic rheological modifiers find extensive deployment in sealants and adhesives to boost their properties of solvent-borne, water-borne, high-solid systems and UV-cured applications.
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Major end users identified in the MRFR market study are construction, personal care, paints & coatings, oil & gas, pharmaceuticals, and others. Heightened awareness levels among people about hygiene and personal grooming has raised the demand for organic rheological modifiers in the personal care industry. Organic rheology modifiers present in personal care products provide excellent consistency, suspension and stabilization properties, which results in amplified demand among the consumers.
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