Rise in demand for personal care products and surge in application of rheology modifiers drive the growth of the global rheology modifiers market.
WILMINGTON, DELAWARE, UNITED STATES, March 20, 2024 /EINPresswire.com/ — According to a report by Allied Market Research, the global rheology modifiers market was valued at $7.6 billion in 2020 and is forecasted to reach $11.3 billion by 2030, with a compound annual growth rate (CAGR) of 4.0% from 2021 to 2030. The report provides detailed insights into top investment opportunities, winning strategies, drivers, opportunities, market size estimations, competitive landscape, and evolving market trends.
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The growth of the global rheology modifiers market is primarily driven by increasing demand for personal care products and expanding applications of rheology modifiers. However, fluctuations in crude oil prices pose a restraint on market growth. Nonetheless, rapid urbanization and the rise in commercial projects are expected to create lucrative opportunities in the industry.
The COVID-19 pandemic had a negative impact on the global rheology modifiers market due to shutdowns in manufacturing and disruptions in import-export activities worldwide. However, with improvements in the global situation, the market is projected to recover soon.
The market analysis covers various segments including type, application, distribution channel, and region. In 2020, the organic segment held the majority of the market share and is expected to maintain its dominance by 2030. The inorganic segment is anticipated to register the fastest CAGR of 4.4% during the forecast period.
Distribution-wise, the indirect segment accounted for a significant portion of the market revenue in 2020 and is projected to remain dominant by 2030. Conversely, the direct segment is expected to witness the fastest growth with a CAGR of 4.5% from 2021 to 2030.
Geographically, Asia-Pacific emerged as the leading region in 2020, capturing over one-third of the global rheology modifiers market share. Furthermore, Asia-Pacific is expected to exhibit the fastest CAGR of 4.3% by 2030. The report also covers North America, Europe, and LAMEA regions.
Key players in the global rheology modifiers market include Arkema, Ashland, BASF SE, Berkshire Hathaway Inc., Akzo Nobel N.V., Byk Additives and Instruments, Elementis Plc., The Dow Chemical Company, Clariant, and Croda International Plc. These companies have adopted various strategies such as partnerships, expansions, collaborations, and joint ventures to strengthen their position in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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