Rheology Modifiers Global Market Report 2024

The rheology modifiers market size has grown strongly in recent years. It will grow from $8.21 billion in 2023 to $8.65 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The increase observed in the historical period can be attributed to factors such as material innovation, the industrial revolution, and the application of rheology modifiers in sectors such as the food and beverage industry and pharmaceuticals.

The rheology modifiers market size is expected to see steady growth in the next few years. It will grow to $10.42 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The anticipated growth in the forecast period can be attributed to factors such as the adoption of sustainable formulations, the use of nano-based modifiers, increasing demand in emerging markets, the integration of digitalization in materials science, and applications in biomedical fields. Noteworthy trends expected during the forecast period include customization and tailoring of rheology modifiers, development of bio-based modifiers, the role of rheology in personal care products, innovations in packaging materials, and the application of rheology in the field of electronics.

The anticipated growth of the construction sector is poised to drive the expansion of the rheology modifiers market. The demand for decorative paints and coatings experiences a surge with the increasing number of construction projects, encompassing residential, commercial, and institutional buildings. Rheology modifiers, as additives in paints and coatings, play a pivotal role in controlling viscosity, flow behavior, and overall rheological properties. Given the extensive application of paints and coatings in construction, especially for adding aesthetic value to buildings, the rise in the construction sector, as evidenced by the U.S. Census Bureau's 2021 data indicating a 15.6% increase in housing unit starts, contributes significantly to the growth of the rheology modifiers market.

The flourishing paints and coatings industry is expected to be a driving force behind the growth of the rheology modifiers market. This industry encompasses the production, distribution, and application of paints, coatings, and related products. Rheology modifiers are integral additives, enhancing the rheological properties of paint and coating formulations. These modifiers play a crucial role in controlling viscosity, thixotropy, and sag resistance, ensuring easy application and a consistent finish of coatings. Notably, the American Coatings Association reported that in 2021, the United States achieved $2.5 billion in exports of paint and coatings products, showcasing a significant international market presence and emphasizing the potential impact on the growth of the rheology modifiers market.

A prominent trend gaining traction in the rheology modifiers market is product innovation. Companies operating in this market are actively engaged in innovating new products to fortify their market position. For instance, in April 2021, Clariant AG, a Switzerland-based chemicals company, introduced Plantasens Biogum Tara, a natural rheology modifier. Aligned with the increasing emphasis on sustainability, this product represents a natural and sustainable innovation designed to enhance the texture and consistency of natural skincare formulations, addressing limitations associated with traditional options.

Major players in the rheology modifiers market are strategically focusing on the development of nanotechnology for rheology modifiers. The integration of nanotechnology into rheology modifiers is aimed at improving their performance at the nanoscale, offering enhanced control over rheological properties. An example of this is SABIC, a Saudi Arabia-based chemical manufacturing company, which, in January 2021, incorporated nanotechnology to develop rheology modifiers, enhancing melt strength and thermoformability.

In April 2021, Clariant AG, a Switzerland-based chemical company, acquired Polygal AG, a Switzerland-based chemical company. This strategic partnership aims to create superior natural rheology modifiers for the building, coatings, and personal care sectors. By combining Polygal's expertise in plant-derived hydrocolloids with Clariant's deep focus on natural polymers, the collaboration intends to provide formulators with inspiration and resources to develop natural, sustainable, and effective cosmetic and skincare formulations.

Major companies operating in the rheology modifiers market report are Cargill Incorporated, Archer-Daniels-Midland Company, BASF SE, The Dow Chemical Company, Shin-Etsu Chemical Co. Ltd., Evonik Industries AG, Solvay SA, Air Products And Chemicals Inc., Arkema SA, Eastman Chemical Company, Kerry Group plc., Wacker Chemie AG, Huntsman Corporation, Lubrizol Corporation, Clariant International Ltd., Tate And Lyle Plc., Daicel Corporation, Akzo Nobel N.V., Croda International Plc., Stepan Company, Ashland Global Holdings Inc., Innospec Inc., BYK Additives And Instruments (BYK-Chemie GmbH), Omnova Solutions, Elementis Plc., Momentive Performance Solutions, Colorcon Inc., Michelman Inc., RheoSense Inc.

Asia-Pacific was the largest region in the rheology modifiers market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the rheology modifiers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rheology modifiers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of rheology modifiers are organic and inorganic. Inorganic substances are compounds that lack carbon-hydrogen bonds and are typically derived from minerals or non-living sources. Inorganic rheology modifiers encompass a variety of materials, including clays, silica, talc, and various metal oxides. These substances can interact with the formulation matrix, forming structures or networks that influence the flow behavior of the material. They are applied in diverse applications such as paints and coatings, cosmetics and personal care, adhesives and sealants, pharmaceuticals, home care, oil and gas, construction, inks, and others. These modifiers are distributed through various channels, including direct and indirect distribution.

The rheology modifiers market research report is one of a series of new reports that provides rheology modifiers market statistics, including rheology modifiers industry global market size, regional shares, competitors with a rheology modifiers market share, detailed rheology modifiers market segments, market trends, and opportunities, and any further data you may need to thrive in the rheology modifiers industry. This rheology modifiers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rheology modifiers market consists of sales of synthetic thickeners, associate thickeners, clay-based modifiers, silica-based modifiers, and others. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.