Report ID: SQMIG45J2253
Report ID:
SQMIG45J2253 |
Region:
Global |
Published Date: December, 2024
Pages:
188
|
Tables:
89 |
Figures:
71
Due to the high demand from markets such as paints and coatings, personal care, and oil and gas, North America accounted for a significant share of the market for rheology modifiers in 2023. With a robust industrial base, substantial investments in shale gas exploration, and crude oil production, the region witnessed an increasing demand for the use of rheology modifiers in drilling fluids and other similar end-products. An increased sense of sustainability and eco-friendliness among consumers in North America is also contributing to the market. Technical enhancements, a well-built supply chain, and high awareness among customers are also responsible for the region's leadership position.
However, Asia-Pacific is predicted to register the highest growth rate in the rheology modifiers industry during the forecast period. The growth of this expansion is being driven by strong demand across industries such as construction, automotive, paints & coatings, personal care, and energy, as well as the rapid industrialization of countries, including China, India, and Japan. The growth of these sectors will drive up demand for rheology modifiers sharply to improve production procedures and product performance. Rheology modifier usage is also being driven by the ever-increasing emphasis on eco-friendly and sustainable products in the marketplace. Investments in the energy, industrial, and infrastructure development sectors promise Asia Pacific to be the fastest-growing market for rheology modifiers.
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Report ID: SQMIG45J2253