Americas Rheology Modifiers Market - Forecast (2022-2027)
Americas Rheology Modifiers Market size is forecast to reach US$3.7 billion by 2027, after growing at a CAGR of 3.5% during 2022-2027. Rheology modifiers are additives that change the way matter flows and they are used to fine-tune a fluid's physical and chemical properties. Rheology modifiers are the ingredient used to control the viscosity of the ink and coatings. Fumed silicas, xanthan gum and laponite are used as rheology modifiers in different industries. The growing demand from various industries such as paints and coating, rubber, textile, chemical and oil & gas among others is driving the demand for the Americas Rheology Modifiers Market Size. The increasing crude oil production and growing demand for industrial clears are also supporting the market growth during the forecast period. The COVID-19 outbreak led to major economic problems and challenges for America's Rheology Modifiers industry. Governments all across America announced strict measures to slow the spread of the coronavirus and only the production of essential commodities was allowed, which impacted the non-essential commodity industries, thereby impacting the Americas Rheology Modifiers Market size
Americas Rheology Modifiers Market Report Coverage
The “Americas Rheology Modifiers Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Americas Rheology Modifiers industry.
By Type: Inorganic (Clays {Bentonite Clay, Hectorite Clay and Organoclays}, Fumed Silicas, Specialty Clays, Attapulgite and Others), Organic (Cellulosic, Gums {Guar Gum, Xanthan Gum, Diutan gum, Gellan gum and Others}, Synthetics (Associative type {Hydrophobically Modified Polyurethanes (HEUR), Hydrophobically Modified Polyethers (HMPE), Hydrophobically Modified Alkali Swellable Emulsions(HASE), Nonionic Synthetic Associative Thickener (NSAT) and Others}, Non-Associative Type {Alkali Swellable Emulsions (ASE) and Others}, Other Solvent based).
By Form: Liquid and Solid (Powder, Granules and Others).
By Chemistry: Water-based and Solvent-based.
By Formulation: Aqueous and Non-aqueous.
By Application: Adhesives and Sealants, Cement and Concrete, Cleaners and Disinfectants, Coolants, Rubber products, Fermentation, Lubricants and greases, Paints and Coatings and Others.
By End-use Industry: Agricultural Industry, Paints and Coating Industry (For Waterborne Paints {Cellulose, Methylcellulose, Hydroxy ethyl cellulose (HEC), Carboxy methyl cellulose (CMC), Hydroxy propyl cellulose (HPC) and Hydrophobically modified HEC}, Acrylates, Associative Thickeners, Clays and Others), For Solvent Based Paints {Organoclays, Hydrogenated castor oil: HCO, Polyamides, Fumed Silicates and Others}), Cosmetics and Personal Care, Construction Industry, Rubbers and Plastics Industry, Textiles Industry, Paper and Pulp Industry, Chemical Industry, Food and beverage Industry, Electronics Industry, Oil and gas Industry, Mining and Minerals Industry, Water Treatment Industry and Others
By Geography: North America (the USA, Canada and Mexico) and South America (Argentina, Brazil, Colombia, Chile, Bolivia and the Rest of South America).
Key Takeaways
The South American region is expected to grow at the highest CAGR of 4.3% during the forecast period. The presence of developing nations such as Brazil and Argentina along with the presence of key end-user such as automotive, construction and industrial manufacturers are driving the market during the forecast period.
Increasing crude oil production in the USA is expanding America's Rheology Modifiers Market size during the forecast period.
The growing demand for an organic type such as Xanthan gum is driving the market growth.
A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Americas Rheology Modifiers Market Report.
Figure: Americas Rheology Modifiers Market Revenue Share, By Geography, 2021 (%)
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Americas Rheology Modifiers Market Segment Analysis – by Type
The organic segment held the largest share of 56% in the Americas Rheology Modifiers industry in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. Organic rheology modifiers are more diverse in terms of chemistry and availability than inorganic rheology modifiers. Generally, organic rheology modifiers are manufactured from natural raw materials such as cellulose and gums. The easy availability and low cost of raw materials are supporting the market growth during the forecast period. Xanthan gum and laponite are used as emulsion stabilizers because of their unique rheological behavior. The growing preference for organic rheology modifiers in personal care products such as creams and lotions is also driving the market growth during the forecast period. According to beauty industry statics published by the Personal care council, approximately 58% of American women buy organic or natural skincare products. The inorganic type fumed silicas hold a significant share in the Americas rheology modifiers market.
Americas Rheology Modifiers Market Segment Analysis - by Application
The paint and coating segment held a significant share of 19% in the Americas Rheology Modifiers industry in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. Rheology modifiers help in controlling paint shelf stability, ease of application, open time, wet edge and sagging among others. In paints and coatings, rheology examines the behavior of flow and deformation properties during manufacturing, storage, applications as well as film formation. Hence these are some of the major properties driving the market for rheology modifiers in paints and coating applications. According to the facts published by American Coating Association, the United States paint and coating industry generated US$26 billion in 2020 and the industry provided employment to 315,700 workers. The growing construction and automotive industries are also supporting the market growth for the paints and coatings industry which is further driving the demand for America's rheology modifiers industry.
Americas Rheology Modifiers Market Segment Analysis - by Geography
North America held the largest share of 85% in the Americas Rheology Modifiers industry in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. The presence of key manufacturers such as DOW chemicals, Lubrizol, Ashland and BASF among others in the United States is driving the market growth. The presence of key end-use industries such as paints and coating, rubber, chemical processing companies, personal care and construction are also supporting the market growth for America’s rheology modifiers market. According to the facts published by the Malaysian Rubber Council, the United States is the second major producer of synthetic rubber with 1.97 million tons in 2021. The U.S. demand reached approximately 1.72 million tons of synthetic rubber in 2021. The presence of major tire companies such as Goodyear and Cooper is driving the demand for the rubber industry which is further driving the demand for rheology modifiers. Hence the growth in the rubber industry is driving the market for America’s rheology modifiers market
Americas Rheology Modifiers Market Drivers
Growing Paint & Coatings Industry
Rheology modifiers are vital additives used in almost every coating to achieve desired rheological characteristics for a particular application. Laponite is used in different paints and coatings as a rheology modifier. The growing construction activities along with increasing production of automotive vehicles are driving the market for paints and coatings which is further driving the market for rheology modifiers market. According to the facts published by American Coating Association, the country shipped worth US$13.6 billion of architectural coatings in 2020. In 2020, production of the paints and coatings industry in the United States amounted to approximately 1.33 billion gallons. According to Coatings World data, Mexico produces about 1 billion liters (about 265 million gallons) of paint and coatings per year. According to the Canadian Paint and Coatings Association, the paint and coating industry has more than 261 paint manufacturing establishments in Canada, which translates into annual retail sales valued at more than $12.3 billion and employs directly and indirectly 86,000 employees. Hence the growth in the paints and coating industry is driving the market for Americas Rheology Modifiers Market during the forecast period.
Growing Demand From Personal Care Industry
Rheology modifiers are designed to give formulators unmatched control over the viscosity, suspension and texture of advanced personal care and home care solutions. Rheology modifier provides electrolyte tolerance and unique sensory benefits in formulations. They can be used in systems with moderate surfactant content and making it an ideal choice for shampoos, body washes, gels, lotions and creams among others. The presence of a high-income category population along with increasing consciousness about hygiene is one of the major factors driving the market growth for the personal care industry in the Americas. According to Personal care Magazine, the United States is the biggest market for cosmetics, fragrances and personal care products in the world with a revenue of 89.5 billion US dollars in 2021.
Americas Rheology Modifiers Market Challenges
Fluctuation of Crude Oil Prices
The cost of raw materials used during the production process is always influenced by fluctuating crude oil prices. Crude oil is one of the main raw materials used for the synthesis of rheology modifiers. The raw materials often used for the production of rheology modifiers are the downstream products of crude oil such as polyamides and polyester. So, the price fluctuation of crude oils also hampers the price of rheology modifiers. The current price of crude oil as of July 2022 is US$98.07 per barrel. The average crude oil price in 2021 in US$70.68 per barrel. The price fluctuation is totally dependent on supply and demand and also on external factors such as covid-19 and Russia-Ukraine War among others. These are some of the major challenges hampering the market growth for America's Rheology Modifiers.
Americas Rheology Modifiers Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Americas Rheology Modifiers Market. The top 10 companies in the Americas Rheology Modifiers Market include:
The Dow Chemical Company
Lubrizol Corporation
Ashland
BASF SE
Clariant
Arkema
Altana
Cargill
Croda
Oxiteno
Recent Developments
In April 2021, Clariant and Polygal AG have joined forces to expand Personal Care formulators’ access to high-performing natural and readily biodegradable solutions for sensory and rheology modification.
In March 2021, Lubrizol launches a new nature-derived rheology modifier for hair care. The new Kelco-Care diutan gum is a sustainable, nature-derived efficient rheology modifier ideal for conditioners, treatments and hair color.
In April 2019, Lubrizol Corporation introduced a new multifunctional, 2-in-1 rheology modifier called Carbopol with style boosting properties.
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