The rapid growth pace of rheology modifiers market is rather evident from Lubrizol’s innovation of new highly efficient rheology- Oilkemia 5S polymer. According to official sources, the novel product launched by the specialty chemicals giant has been claimed to be a potential ingredient for skin care, sun care, and color cosmetics. Oilkemia 5S enables suspension and clarity in oil systems for offering an appealing visual impact along with providing shear thinning with non-sticky feel for powdery and an elegant skin feel.
The rheology modifiers product has been deemed to be compatible with non-polar oils when combined with polar emollients or/and sunscreens in tandem with showcasing compatibility with pigments, oil and UV filters for diverse applications. Initiatives like these are expected to establish avenues for the market rivals operating in the rheology modifiers business realm to come up with distinctive technologies and products to score an edge over their competitors while enhancing the stance of rheology modifiers industry in the global economy.
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Rheology modifiers are the organic or inorganic materials that are generally used to control the rheology properties of the fluid formulations. These compounds have gained massive traction worldwide, given their umpteen applications across myriad end use industries such as paints & coatings, personal care, pharmaceuticals, textiles, adhesives, construction, and pulp and paper. In this regard, Global Market Insights, Inc., predicts that the rheology modifiers market size would reach USD 6.83 billion by the end of 2024.
Expanding paints and coating industry to augment demand for rheology modifiers
Paints and coatings sector has positioned itself as one of the most remunerative verticals for rheology modifiers industry over the years. This can be ascribed to the rapid urbanization paired with massively rising construction and automotive industries.
Rheology modifiers pose the ability to enhance the durability, emulsion stability, consistency, ease of application, leveling, and anti-sagging properties of the paints, thereby supporting the expansion of the paints and coatings industry globally.
Considering an upsurge in the demand for paints and coatings with exceptional qualities worldwide, various companies operating in the rheology modifiers business space have been relentlessly working towards the introduction of new variants of these compounds thus improving the quality of coatings and paints.
For instance, BASF, a German rheology modifiers leader, announced on November 2019, that it was launching Rheovis HS 1181, a new rheology modifier which is APAE-free HASE thickener. It is reported that the compound is specially designed for meeting the requirements of high PVC paints. Apparently, this launch helped the company to address the burgeoning need for rheology modifiers across the globe, eventually affirming its position in the global market.
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Downsides of rheology modifiers market
Although rheology modifiers market is anticipated to observe tremendous gains, potential limitations and challenges are likely to impede the growth of this industry over the forecast years. Some of the limitations include, fluctuating crude oil prices (as crude oil is one of the basic raw materials used in the manufacturing of these compounds) and declining printing ink consumption owing to shifting consumer preference towards digital media.
Also, needless to mention, ongoing COVID-19 pandemic spread, which has severely disrupted the global economy as well as slowed down various businesses globally, is also likely to adversely impact the rheology modifiers market over the due course of time.
However, post stabilization of the global economy, there are possibilities that the rheology modifiers market can gain considerable proceeds in the near future.
Global companies such as Evonik Industries AG, The Dow Chemical Company, and BASF SE are backward integrated; they manufacture both the final product and raw materials.
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