Rheological additives are used to control and manage the characteristics and properties of the liquids. Growth in the Construction Sector to Create Upswings for the Market Growth is expected to be one of the most dynamic sectors in the coming years, playing a crucial role in the prosperity of society globally. As per the data available by Oxford Economics, the global construction sector is foreseen to grow by USD 8 trillion, and this growth is expected to be driven by the U.S, China, and India.
The government of India is undertaking a smart city mission that aims to foster sustainable construction and development of cities. The Bharatmala Pariyojana program, an Indian government-sponsored road and highway project, aims to construct about 50 new national corridors, connecting 550 districts. They also help in enhancing the stability, suspensibility, and performance of the liquid. Rheological additives are used extensively in construction, cosmetics, and pharmaceutical, among other industries.
Globally, there are many upcoming construction projects that will require a large number of construction materials. Some of the most significant construction projects include Al Maktoum International Airport, Dubai, with an estimated cost of USD 32 billion, spread over 21 square miles. London’s Crossrail Project, with an estimated cost of USD 23 billion, is another large scale high-speed railway project, further driving the market growth.
Increasing application of rheological additives in paints, coatings, adhesives, and sealants are likely to create upswings for market growth.
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The Major Players Covered in this Report: BASF SE, The Dow Chemical Company, Lubrizol Corporation, Clariant, Cargill Incorporated, Arkema, Croda International Plc, Ashland, Akzo Nobel N.V., Elementis Plc., BYK Additives & Instruments, Palmer Holland, Inc., Gehring Montgomery, Inc., & More…
By Type, Aqueous Phase Additives, Non-Aqueous Phase Additives,
By Nature, Organic, Inorganic,
By Application, Paints and Coatings, Cosmetics and Personal Care, Adhesives and Sealants, Pharmaceuticals, Home and I&I Products, Oil and Gas, Construction
Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Rheological Additives in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Rheological Additives market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Rheological Additives and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Rheological Additives. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.
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Impact of COVID-19:
The pandemic has put several restraints on the global economy and brought international trade to a standstill. International borders have been sealed, and various economies have announced nationwide curfews and lockdowns. These scenarios have led to large scale migration of laborers. The human workforce is among the critical components of the industrial and construction sectors. Thus, the lack of a skilled workforce and lockdowns have brought manufacturing activities to a halt.
Key industry players are adopting strategies such as vertical integration to gain control of the supply chain and attain a deeper understanding of the domestic markets. Apart from this, plummeting demand for the construction industry and volatility in the oil and gas hampers the market growth.
Rheological Additives Market: Segmentation:
Advantages of Organic Rheological Additives to Drive Its Demand in the Pharmaceutical and Cosmetics Industries, The organic rheological additive is much more diverse than inorganic rheological additives. Few of the organic rheological modifiers include cellulose, castor oil derivatives, hydrophobic ethoxylated urethane resins, alkali-acrylic emulsions, and calcium sulfonates. Organic rheological additives offer more advantages compared to non-organic rheological additives, such as strong shear thinning, high film build, and sag resistance.
Organic rheological is finding higher applications owing to the naturally derived nature of the product. It is used in a wide array of products, such as paints, coatings, creams, lotions, and inks, to control the fluid properties and avoid splatter of the liquid and increase shelf life. Its increasing demand in the pharmaceutical and cosmetics industries is projected to create fillip for market growth.
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