Water Based Acrylates Copolymer Rheology Modifiers Market Recent Trends, Competitive Landscape, Application Analysis and Growth by Forecast to 2023
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Water Based Acrylates Copolymer Rheology Modifiers was valued at USD 365.6 million in 2016 and is predicted to grow at 4.35% CAGR to reach USD 471.9 million by the end of 2023. Water Based Acrylates Copolymer Rheology Modifiers are gaining importance in the global market with the increasing application in personal care and paints & coatings. Other applications including adhesive & sealants, pharmaceuticals, pulp & paper, homecare & industrial cleaning, and minerals among others.
Some of the prominent market factors that positively influence the market growth are increasing demand from paints & coatings industry, growing production of cosmetics & personal care, and increasing environmental regulations regarding the emission rate of volatile organic compounds (VOCs). Rapid industrialization combined with increasing disposable income in developing economies are predicted to drive market growth during the review period. Rising investment in the commercial as well as industrial construction sector is predicted to boost the market demand. However, increasing demand for alternative rheology modifier such as HEUR (hydrophobically modified polyurethane) is increasingly preferred due to its less pH sensitivity and water resistance which inturn is predicted to hamper the market growth.
The Global Water Based Acrylates Copolymer Rheology Modifiers Market is divided into application and region. On the basis of application, Global Water Based Acrylates Copolymer Rheology Modifiers Market is segmented into paints & coatings, personal care, adhesives & sealants, pharmaceuticals, homecare & industrial cleaning, construction, pulp & paper, minerals, and others. Among these applications, paints & coatings and personal care are estimated to be the leading application segment of the global market. Paints & coatings industry is estimated to account for 26.2% in the overall market in 2016, with a market value of USD 92.4 million. Personal care is predicted to be the fastest growing application segment driven by increasing consumption of personal care products in developing economies. Globally, cosmetics & personal care industry is expected to expand at a CAGR of 3.5% to 4.5% till 2020. Among various personal care and cosmetics applications, skin care and hare care are the most important application accounting for large share in the overall personal care & cosmetics industry. Additionally, hair care is estimated to witness the highest growth and will be proven as leading driving factor for the rheology modifiers market. Prominence of personal care industry is highlighted by the trend of increasing focus of manufacturers on providing multifunctional rheology modifiers for the personal care industry. However, in terms of volume adhesives & sealants is projected to grow with the highest CAGR of 4.8% and in terms of value it is projected to reach USD 64 million. Pulp & paper segment is expected to exhibit slowest growth owing to shift of paper media to digital media in most of the markets.
Regionally, the Global Water Based Acrylates Copolymer Rheology Modifiers Market Share is segmented into five main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among all the regions, Europe dominates the market and expected to witness moderate CAGR of around 4.12% during the review period. Asia Pacific is expected to grow at highest CAGR and is expected to reach USD 148.1 million over the forecast period. China and Japan are the major contributors in the regional market growth and accounted for around 74% regional market share. Japan is expected to reach USD 20.6 million over the forecast period. Rising construction activities and growth of automotive industry are the major factors behind the market growth in Asia Pacific. Numerous factors behind the market growth are improved living standard and competitive manufacturing costs. Currently, Europe market is trailed by Asia Pacific, which is followed by North America.
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