Rheology modifiers are compounds that mainly modify the viscosity of goods in a desirable way, including paints, coatings, and lubricants. They are used to enhance the product's stability, chemical makeup, and physical characteristics in almost every industrial vertical.
One of the key factors boosting the expansion of the rheology modifiers market in North America is the rising desire for environmentally friendly products that don't pollute the environment. For gels, serums, and peel-off cosmetic products, this mostly consists of bio-based rheology modifiers such cold processable rheology modifiers, which come from the Konjac plant, are biodegradable, and provide a skin-friendly formulation.
North America Rheology Modifiers Market Driving Factors and Challenges
Driving Factors
- Demand for personal hygiene products is rising: In order to provide rheological characteristics for the particular application, rheology modifiers—also known as viscosity modifiers or thickeners for paints—are added to liquid products during the manufacture of paint and coating products. However, rheology modifiers are much more than just thickeners for the product's formulation. Effective rheology modifiers improve production efficiency by reducing solid material sedimentation and sag resistance, which in turn structures the formulation of various chemicals in the goods and is anticipated to increase market share.
- Application of rheology modifiers has increased: The goal of rheology modifiers is to provide formulators with previously unheard-of control over the viscosity, texture, and suspension of personal care and home care products. Long-term product stability can be given to producers and formulators via thickening and suspension polymers. Because of this, end-user demand is rising and it's being utilised in many different applications including construction, building, and housekeeping, which is predicted to grow the market.
Limitations and Challenges
- Crude oil prices fluctuate: Producers may find it challenging to keep up with price changes for the crude oil needed to generate rheology modifiers, which may hinder the market's overall growth.
- Technical constraints: Because it is difficult to develop rheology modifiers specifically for a certain application and because bespoke solutions are required, manufacturers may encounter technical challenges when trying to meet a wide range of customer requirements.
Impact of COVID-19 on North America Rheology Modifiers Market
The market for rheology modifiers has been impacted by the Covid-19 epidemic in many ways. Rheology modifiers were in higher demand in the personal care and healthcare sectors than in the paints and coatings sector as a result of temporary shutdowns and a decrease in building operations. Hand sanitizers, disinfectants, and other associated items saw a spike in demand as a result of the pandemic's emphasis on the value of hygiene and personal care products. For these compositions to be stable and have the appropriate viscosity, rheology modifiers were essential. Furthermore, the building sector is anticipated to grow as the world economy progressively recovers from the epidemic, increasing demand for paints, coatings, and building supplies. Consequently, this will foster the expansion of Rheology Modifiers Market.
North America Rheology Modifiers Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Arkema S.A., Ashland Inc., BASF SE, Berkshire Hathaway Inc. (The Lubrizol Corporation), Cargill, Incorporated, Clariant AG, Eastman Chemical Co., Evonik Industries AG, PPG Industries, Inc., The Dow Chemical Company, Others.
North America Rheology Modifiers Market Segmentation:
By Product Type: Based on the Product Type, North America Rheology Modifiers Market is segmented as; Inorganic (Clay, Fumed Silica), Organic (Synthetic, Natural).
By Formulation: Based on the Formulation, North America Rheology Modifiers Market is segmented as; Solvent Based, Water Based.
By Functionality: Based on the Functionality, North America Rheology Modifiers Market is segmented as; Depressants, Leveling Agent, Thickener, Thinner, Thixotropic Agents, Others.
By Application: Based on the Application, North America Rheology Modifiers Market is segmented as; Adhesives and Sealants, Cosmetics and Personal Care, Oil and Gas, Paints and Coatings, Pharmaceuticals, Others.
By Region: This research also includes data for Canada, Mexico, U.S.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.