The global rheology modifiers market is expected to be worth US$5,600m by 2020, registering a compound annual growth rate of 3.3 percent over the next five years, according to a report published by US firm, Research and Markets.
Rheology modifiers also known as thickeners or flow control agents are used for modifying the viscosity of products such as cosmetics, paints, adhesives and pharmaceutical solutions.
Currently, the paints and coatings segment represents the largest application in the rheology modifiers market, accounting for more than one-third of the market.
Yet, the cosmetics & personal care segment is projected to witness the highest CAGR of 4 percent between 2015 and 2020.
The report focuses thirteen major countries where there is an existing rheology market or where the market is likely to develop. These include the US, Canada, Mexico, Japan, South Korea, China, India, Germany, Italy, Spain, France, Russia, and Brazil.
Some of the prominent companies in the market include BASF, Akzo Nobel, Arkema, The Dow Chemical Company, Ashland, Lubrizol, Clariant AG, Croda International Plc, Air Products and Chemicals, and Elementis Plc.