Rheology Modifiers Market Size, Share, and Growth Forecast for 2024 - 2031

Rheology Modifiers Market Size and Share Analysis

The global rheology modifiers market is projected to witness a CAGR of 4.1% during the forecast period from 2024 to 2031. It is anticipated to rise from US$ 8.3 Bn in 2024 to a considerable US$ 11 Bn by 2031. It is driven by rising demand across various industries, including paints, coatings, personal care, and food processing, where rheology modifiers enhance product texture, stability, and performance.

Southeast Asia is set to experience significant growth despite challenges such as property market issues in Vietnam, which have impacted the building and construction sector. The region’s young, growing, and urbanizing populations will likely drive demand for rheology modifiers in the long term. Economic and demographic factors, such as increasing consumer demand for high-quality products, are set to support the development of modifiers in paints, coatings, and personal care sectors.

In the personal care industry, which plays a key role in driving demand for modifiers, the U.S. reached sales of US$ 210.6 Bn in 2022. The industry significantly contributes to the U.S. economy, adding US$ 82.3 Bn in taxes and US$ 308.7 Bn to GDP.

As global demand for premium personal care products continues to rise, the use of rheology modifiers will increase, particularly in North America and Europe. These are anticipated to help enhance the texture, performance, and stability of personal care formulations.

Latin America is also showing promising economic recovery, particularly in the food and agricultural sectors. According to the Food and Agriculture Organization, the prevalence of undernourishment and food insecurity in the region decreased between 2021 and 2022. This recovery, coupled with the high demand for functional ingredients in consumer products, will likely contribute to the rising use of modifiers in food processing and other industries.

Key Highlights of the Market

• East Asia holds the most prominent market share of 34.2% in 2024, driven by China’s dominance in the paints and coatings sector, as well as rising demand for electric vehicle coatings.
• Europe accounts for 23.1% of the market in 2024, with key contributions from the cosmetics, personal care, and pharmaceutical sectors, ensuring sustained demand for rheology modifiers.
• Based on application, the cosmetics and personal care category is anticipated to witness a CAGR of 4.7% through 2031.
• Rising focus on eco-friendly formulations is encouraging the development of bio-based and plant-derived rheology modifiers, with companies like Arkema and Clariant leading the charge.
• Innovations like RHEOLATE® 125 P and RHEOLATE® 185 P are enhancing viscosity modification and application efficiency, addressing the demand for high performance additives.
• Countries like China, India, and South Korea are set to drive substantial growth, particularly in the electric vehicle and construction sectors, due to increasing industrialization and infrastructure development.
• Despite steady growth in countries like Japan and South Korea, slow growth in the property and manufacturing sectors may limit market expansion.
• Organic rheology modifiers, especially synthetic and natural variants, lead the market with 74.7% share in 2024, fueled by rising demand for sustainable and eco-friendly solutions.
• Paints and coatings industry dominates the market with 44.5% share in 2024, supported by growth in architecture, automotive, and aerospace sectors across India and Europe.

Market Attributes	Key Insights
Rheology Modifiers Market Size (2024E)	US$ 8.3 Bn
Projected Market Value (2031F)	US$ 11 Bn
Global Market Growth Rate (CAGR 2024 to 2031)	4.1%
Historical Market Growth Rate (CAGR 2019 to 2023)	3.4%

East Asia Leads with Presence of Well-established Paints and Coatings Sector

East Asia holds a significant market share of 34.2% and is valued at US$ 2.8 Bn in 2024, driven by the dominance of the paints and coatings sector in the region. The total size of the Asia Pacific paints and coatings industry is valued at US$ 89.4 Bn, with China being the most prominent market.

Despite slow growth due to challenges in the property and manufacturing sectors, increasing demand for electric vehicle coating has provided a boost, helping sustain the market. Japan and South Korea contribute 10% and 4% of the market share, respectively.

While Japan's market is stable, South Korea’s paint and coatings sector is experiencing modest growth. These mature markets, coupled with rising demand in China’s electric vehicle production, continue to drive the region's growth, securing East Asia's leading position. The region is estimated to witness a CAGR of 6.1% through 2031.

Europe Sees Steady Growth Amid Booming Personal Care and Cosmetics Industries

Europe holds around 23.1% of the global rheology modifier market share and it is valued at US$ 1.9 Bn in the same year. This dominance is mainly driven by high demand for rheology modifiers across key sectors such as cosmetics, personal care, and pharmaceuticals.

The cosmetics and personal care industry plays a key role in Europe's market growth. With the regional cosmetics market valued at US$ 105.9 Bn in 2023, rheology modifiers are essential in formulating products that meet high standards for texture, stability, and performance.

Germany, France, and Italy are the most prominent national markets for cosmetics and personal care products in Europe, with values of US$ 17.496 Bn, US$ 15.173 Bn, and US$ 13.828 Bn, respectively. These markets contribute significantly to the rising demand for rheology modifiers, ensuring continued market leadership.

The pharmaceutical sector also drives demand for rheology modifiers in Europe. The need for specialized formulations and excipients in drug development further strengthens Europe’s position in the global rheology modifier market.

Organic Products Gain Traction with High Demand from Personal Care Manufacturers

The organic product type holds the most prominent market share, accounting for 74.7% and reaching US$ 6.2 Bn in 2024. This dominance is driven by increasing demand for sustainable and eco-friendly solutions across industries such as paints, coatings, and personal care. Organic products, particularly in synthetic and natural forms, are highly favored for their performance and environmental benefits.

Both synthetic and natural types are integral to the market's growth. Synthetic organic modifiers offer enhanced performance and versatility, while natural organic options are preferred for their renewable, biodegradable properties. These factors contribute significantly to the growth of organic products, driving the market forward.

Paints and Coatings Industry Dominates due to Growth in Construction Sector

The paints and coatings segment holds the most significant share in the rheology modifier market, accounting for 44.5% and reaching a value of US$ 3.6 Bn in 2024. This dominance is driven by strong growth in sectors like architecture, construction, automotive, and aerospace. For instance,

• Akzo Nobel India projects India's paint industry to reach US$ 12.22 Bn in the next five years, up from US$ 7.57 Bn, with the architectural sector leading at a 69% volume share. The industry is set to rise at a 4.5% CAGR, bolstered by surging demand for high performance coatings and raw material cost reductions.

The paints and coatings industry in Europe also plays a significant role in the market, contributing to its global dominance. For example,

• The U.K.'s paint, printing inks, and wallcoverings industries supply sectors worth over US$ 327.7 Bn, with a workforce of 300,000 people directly involved in manufacturing and application.
• According to the British Coatings Federation (BCF), companies such as Akzo Nobel, PPG, BASF, and Sherwin-Williams are key players in Europe, further boosting demand for rheology modifiers.
• Notably, 3 in 5 paint companies in the U.K. export their products, reflecting the global reach of the Europe paints and coatings industry.

Rheology Modifiers Market Introduction and Trend Analysis

The rheology modifiers market is witnessing substantial growth, driven by the rising demand for high-performance and sustainable solutions across various industries. These modifiers come in two main types, namely, organic and inorganic, with each catering to specific formulation needs.

Organic modifiers, such as biopolymers, are favored for their eco-friendly properties, while inorganic ones offer superior stability and performance in industrial applications. Industries such as cosmetics and personal care, paints and coatings, and adhesives and sealants utilize these products to improve texture, viscosity, and stability.

Sectors like pharmaceuticals, food and beverages, and oil and gas benefit from the consistency and performance enhancements provided by these modifiers. These further help in supporting diverse consumer and industrial requirements.

Historical Growth and Course Ahead

From 2019 to 2023, the rheology modifiers market experienced steady growth, with a CAGR of 3.4%. This growth was driven by increasing demand in sectors such as personal care, paints, coatings, and food processing. Companies mainly focused on enhancing product performance and meeting sustainability goals.

The market is poised for further expansion, with sales projected to rise at a CAGR of 4.1% from 2024 to 2031. Demand for eco-friendly and high-performance solutions will likely continue to fuel growth, particularly in emerging regions. This is due to the surging adoption of more sustainable formulations across industries to meet evolving consumer preferences.

Market Growth Drivers

Developments in Sustainable and High-performance Additives to Bolster Demand

Increasing demand for sustainable solutions in various applications is significantly boosting the rheology modifiers market growth. Arkema’s initiatives, such as showcasing bio-based rheology and specialty additives at Paint and Coatings Italy in 2022, underscore the industry's focus on eco-friendly innovations.

Products like Coapur™ 3020 BB reflect a commitment to reducing environmental footprints while meeting performance expectations. This emphasis on sustainability aligns with global trends, as consumers and industries seek products that minimize ecological impact. Arkema’s technical presentations further highlight its leadership in providing solutions that cater to the rising need for responsible production and usage practices. For instance,

• Launch of novel rheological additives, such as RHEOLATE® 125 P and RHEOLATE® 185 P in 2024, demonstrates the focus on optimizing performance while addressing key challenges. These innovations are tailored to improve viscosity modification, water retention, and application efficiency in paper and cardboard coatings.
• Arkema’s participation in Paint India 2024 showcased its efforts to enhance circularity, energy efficiency, and decarbonization. It reflects a comprehensive approach to sustainability.
• Investments in modern manufacturing and technical support facilities are helping Arkema to meet the evolving demands of global markets while driving innovation in additive technologies.

High Focus on Sustainability and Performance Optimization to Fuel Demand

Increasing focus on sustainability and performance optimization is driving innovation in additive technologies across industries. Partnerships like the one between Clariant and Polygal AG in April 2021 highlight the rising demand for plant-derived solutions in personal care applications. By enhancing access to natural and biodegradable rheology modifiers, this collaboration supports the shift toward eco-friendly skincare formulations.

• Arkema’s ISCC PLUS certification for its Changshu site in December 2024 underscores the commitment to sustainability by introducing bio-attributed waterborne additives and resins. These developments cater to the rising need for environmentally conscious solutions in sectors like e-mobility, energy, and construction, thereby strengthening the market’s growth trajectory.

Innovative product launches are further fueling growth by addressing critical performance and cost challenges. For example,

• Elementis’s introduction of RHEOLATE® PHX 7025 in March 2023 exemplifies this trend. It offers powdered urethane modifiers that enhance performance while reducing environmental impact in paints and coatings.
• The November 2023 launch of BENTONE® CRS by Elementis also reflects a focus on improving efficiency and sustainability in the ceramic industry. Its solutions provided exceptional suspension stability and high-temperature resistance.

Similar developments, along with ongoing investments in technology and certifications, are reshaping industry dynamics. These are aligning with consumer demands for safer, more effective, and sustainable products.

Market Restraining Factors

High Production Costs to Hinder Widespread Adoption

The development and manufacturing of novel rheology modifiers, especially those incorporating biodegradable and sustainable ingredients, involve high costs. Sourcing renewable raw materials and adopting green chemistry principles often require significant investment in research, technology, and infrastructure.

Costs are further compounded by the need for extensive testing to meet stringent regulatory standards, making it challenging for small and medium-sized enterprises to compete. The rising production expenses are passed on to consumers, potentially limiting market penetration in cost-sensitive regions.

Key Market Opportunities

Biopolymers and Natural Ingredients to Redefine Formulation Preferences

The market is witnessing a significant shift toward sustainability and eco-friendly solutions, as evidenced by recent product launches. Companies are focusing on developing biodegradable and renewable options to meet the rising demand for green formulations in personal care applications. For instance,

• Lubrizol's Carbopol® Fusion S-20 polymer, launched in 2024, exemplifies adherence to the 12 Principles of Green Chemistry. It provides high-performance thickening and suspension properties for skin and hair care products.
• Clariant's Aristoflex Eco T, introduced in 2023, combines high biodegradability with a renewable carbon index. It caters to the industry's sustainability goals without compromising on performance.

Such developments reflect a broader trend of integrating biopolymers and natural ingredients into formulations, driven by consumer preferences for environmentally conscious products. Innovation remains a cornerstone of growth, as companies aim to address evolving formulation challenges and consumer demands. For example,

• BASF’s Hydagen® Clean, launched in 2021, leverages konjac gum to create versatile, eco-friendly solutions for face and body care, styling products, and novel formats like peel-offs.
• Lubrizol’s Carbopol® Style 2.0 polymer and Clariant’s Aristoflex Silk underscore the importance of functional versatility, enabling formulators to achieve superior textural benefits, stability, and aesthetic appeal.
• Arkema’s consolidation of its Coatex and Crayvallac® range highlights a growing emphasis on reducing carbon footprints and water usage.

The aforementioned innovations illustrate how the market is aligning technological developments with sustainable practices. It is set to help in enhancing product differentiation and meeting global environmental standards.

High-performance and Eco-conscious Ingredients to Reshape Industry Dynamics

The personal care products industry is undergoing a paradigm shift toward sustainability, transparency, and local innovation, creating substantial growth opportunities. BASF's Beyond Beauty campaign, launched in 2024, highlights the rising importance of transparency in carbon footprints and the adoption of bioactive ingredients.

The initiative, aligned with the Care 360° program, underscores how bioactives can transform formulations to meet growing consumer demand for responsible beauty. Such campaigns are not only enhancing consumer trust but also enabling formulators to differentiate their offerings through eco-conscious branding.

Focus on localized innovation and sustainable ingredient solutions is reshaping market dynamics. Lubrizol’s 2024 investments in extending research centers and promoting local-for-local initiatives demonstrate the potential of tailoring solutions to regional needs while meeting global sustainability goals. 

Clariant’s participation in the 2023 CITE exhibition in Japan showcased how sustainable formulation technologies are addressing the evolving expectations of eco-conscious consumers. These developments emphasize the opportunities for companies to integrate high-performance ingredients with sustainability. These further help in catering to both consumer preferences and regulatory demands.

Competitive Landscape for the Rheology Modifiers Market

The global market for rheology modifiers is increasingly driven by a focus on sustainability. Key manufacturers are prioritizing eco-friendly, biodegradable, and biopolymer-based solutions.

Companies are concentrating on delivering high-performance products that cater to industries such as personal care, paints and coatings, and food processing. The emphasis is on reducing environmental impact while maintaining product efficacy, responding to the high demand for sustainable adhesion promoter formulations across multiple sectors.

The competitive landscape is fragmented, with several players competing through continuous product innovation, strategic collaborations, and localized innovations. Manufacturers are actively developing solutions that meet clean beauty trends, enhance formulation stability, and improve sensory experiences.

While key companies dominate, the market remains open to new entrants. It is particularly rising for those offering eco-conscious and effective products that address evolving consumer needs.

Recent Industry Developments

• In December 2024, Ohio-based Lubrizol announced significant innovations, introducing several new solutions across industries. It also invested in local-for-local innovation, extended its research and development centers, and improved sustainability initiatives. These efforts reflected the company's commitment to delivering impactful, science-driven solutions that align with market needs and sustainability goals.
• In April 2024, BASF, based in Germany, launched its ‘Beyond Beauty’ campaign under the Care Chemicals initiative Care 360°. It showcased innovative and sustainable solutions for the personal care industry. The campaign promotes transparency in product carbon footprints and emphasizes the transformative potential of bioactives to meet consumer demand for responsible beauty.
• In February 2024, France-based Arkema announced its participation in Paint India 2024, where it showcased new technologies aimed at improving sustainability in paints and coatings. Arkema highlighted developments in circularity, energy efficiency, decarbonization, and living comfort through low VOC and lower carbon solutions. The company emphasized its investments in India, particularly at the Navi Mumbai site. It features a modern manufacturing unit and dedicated laboratory for application development and technical support.

Rheology Modifiers Market Report Scope

Attributes	Details
Forecast Period	2024 to 2031
Historical Data Available for	2019 to 2023
Market Analysis	US$ Billion for Value
Key Regions Covered	North America Europe East Asia South Asia and Oceania Middle East and Africa Latin America
Key Market Segments Covered	Product Type Application Region
Key Companies Profiled in the Report	BASF SE The Dow Chemical Company Lubrizol Corporation Clariant Arkema Croda International Plc. Ashland Akzo Nobel N.V. Elementis Plc. BYK Additives and Instruments
Report Coverage	Market Forecast and Trends Company Share Analysis Competitive Intelligence DROT Analysis Market Dynamics and Challenges Strategic Growth Initiatives
Customization and Pricing	Available upon request

Rheology Modifiers Market Segmentation

By Type

• Organic
  • Synthetic
  • Natural
• Inorganic
  • Clay
  • Fumed Silica

By Application

• Cosmetics and Personal Care
• Paints and Coatings
• Adhesives and Sealants
• Pharmaceuticals
• Oil and Gas
• Food and Beverages
• Others

By Region

• North America
• Europe
• East Asia
• South Asia and Oceania
• Latin America
• Middle East and Africa

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