Inorganic Rheology Modifiers Market is projected to grow at 3.35% CAGR during the forecast 2021-2030.
Inorganic rheology modifiers are additives that control the rheological characteristics of the liquid formulation. These modifiers tend to have high yield values and generally improve the anti-sag, anti-settling, and anti-spattering properties. Inorganic rheology modifiers, owing to the properties mentioned above, are key ingredients in the paints and coatings industry. In addition, they also have an array of applications in adhesives and cosmetic formulations. For instance, fumed silica on account of its high surface area to weight ratio is used in the adhesives & sealant industry to achieve thixotropic properties in adhesives.
The growing end-use industry, mainly paints & coatings, is a significant factor that is driving the growth of the global inorganic rheology modifier market. In addition, the product is also used in the production of cosmetics for lightening acne marks, antiperspirants, fragrances, and hair care products. The increasing demand for skin care products and the rising per capita disposable income among the consumers in developing economies is likely to fuel the demand for inorganic rheology modifiers in the coming years. Furthermore, the rising demand for adhesives & sealants from the automotive, renewable energy and construction industries is further fueling the market growth.
However, the gloss, flow, and leveling issues related to clay modifiers are likely to restrain global market growth.
Global Inorganic Rheology Modifiers Market Share, by Region 2018 (%)
Source: MRFR Analysis
The global inorganic rheology modifiers market is analyzed for five major regions, namely, North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific dominates the inorganic rheology modifiers market and is projected to register the highest CAGR during the forecast period, owing to expanding paints & coating industry in the region. This is primarily attributed to the rising residential and commercial constructional activities in the developing countries of the region, such as China, India, and South Korea.
The market in North America accounted for a substantial market share in 2018. The growing demand for inorganic rheology modifiers, particularly silica, in the adhesives & sealants industry is expected to drive the regional market. In addition, regulations set by the US environmental protection agency to reduce volatile organic compound (VOC) emissions is another important factor augmenting the regional market growth.
Europe is also expected to showcase significant growth during the forecast period due to the increasing use of inorganic rheology modifiers in the production of cosmetics and personal care products. Additionally, the growing end-use industries and the growing demand for adhesives and paints & coatings are further contributing the regional market growth. For instance, in 2017, Evonik Industries AG, a leader in the specialty chemicals business, acquired J.M Huber Corporation’s silica business to expand its presence in the silica business globally. Additionally, the company is planning to expand its fumed silica capacity in Antwerp, Belgium.
The markets in Latin America and the Middle East & Africa are expected to register substantial growth during the forecast period owing to the growing paints & coatings industry and increased per capita disposable income in the region.
The global inorganic rheology modifiers market has been segmented by type, end-use industry, and region.
Based on type, the global market is segmented into clays, fumed silica, and specialty clays.
Based on end-use industry, the global market has been classified into paints & coatings, cosmetics & personal care products, adhesives & sealants, and others.
By region, the market has been categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
BASF SE (Germany), Evonik Industries AG (Germany), Cabot Corporation (U.S,), ALTANA (Germany), Wacker Chemie AG (Germany), XUNYU CHEM (China), Orisil (Ukraine), OCI COMPANY Ltd (South Korea), and Tokuyama Corporation (Japan).
|Market Size||2030: Significant Value|
|CAGR||3.35% CAGR (2021-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||type, end-use industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE (Germany), Evonik Industries AG (Germany), Cabot Corporation (U.S,), ALTANA (Germany), Wacker Chemie AG (Germany), XUNYU CHEM (China), Orisil (Ukraine), OCI COMPANY Ltd (South Korea), and Tokuyama Corporation (Japan).|
|Key Market Opportunities||gloss, flow, and leveling issues related to clay modifiers|
|Key Market Drivers||New product launches and R&D Amongst major key Players|
The global inorganic rheology modifiers is expected to exhibit a CAGR of 3.55% from 2021 to 2030.
The paints & coatings industry is the major driver of the global inorganic rheology modifiers market.
Leveling of clay modifiers and gloss flow are two major restraining factors which can impede market growth.
APAC will dominate the global inorganic rheology modifiers market.
Evonik Industries AG, XUNYU CHEM, Cabot Corporation, Wacker Chemie AG, BASF SE, ALTANA, Tokuyama Corporation, OCI COMPANY Ltd, and Orisil are major industry participants of the global inorganic rheology modifiers market.