Pune, India -- (SBWIRE) -- 08/13/2018 -- Water Based Acrylates Copolymer Rheology Modifiers Market – Overview
Growing demand from paints & coatings industry has provided various avenues for the development of the market. Market dedicated reports linked to the chemicals & materials sector among others lately have been made available by Market Research Future which issues reports on this sector. The market is projected to earn revenues worth USD 471.9 million by the year 2023 while expanding with a CAGR of 4.35 percent over the forecast period.
Mounting manufacturing levels in the cosmetics & personal care industry owing to rising demand and increased focus on aesthetics have bolstered the development of the market. The ability of the core product offering to control and manipulate the fluidity profile on the end product has increased the user base for the market. Rising demand for HEUR, i.e., hydrophobically modified polyurethane may be one of the factors that may restrict the expansion of the Water Based Acrylates Copolymer Rheology Modifiers to an extent. Improved investment inflows into the market are expected to alter the competitive landscape in the forthcoming period positively.
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Industry Segments
The Water Based Acrylates Copolymer Rheology Modifiers Market is divided on the basis of application and region. The application basis of segmentation in the Water Based Acrylates Copolymer Rheology Modifiers Market are segmented into personal care, adhesives & sealants, pharmaceuticals, paints & coatings, homecare & industrial cleaning, pulp & paper, construction, minerals, and others. The paints & coatings segment dominates the market with a value share of USD 92.4 million in the year 2016. The personal care segment was the second main market and is estimated to grow with the highest CAGR of 5.43 percent. Based on the regions, the market is segmented into Asia Pacific, Latin America, Europe, North America, and the Middle East & Africa.
Detailed Regional Analysis
The market is segmented into regions consisting of Latin America, Europe, North America, Asia Pacific, and the Middle East & Africa. Among these, the European region has emerged as the leading region for the Water Based Acrylates Copolymer Rheology Modifiers Market in the year 2016, motivated by the development of businesses such as paints & coatings, personal care and pharmaceuticals. The European region has accounted for around 35 percent of the overall volume share in 2016 and is likely to reach USD 162.7 million with the moderate CAGR of around 4.12 percent over the forecast period. Germany, Russia, France, and Spain are among the main suppliers in the regional market growth and will carry on their control during the review period due to the wide utilization of rheology modifiers in personal care and adhesives & sealants. Russia is expected to account for a market value of USD 22.6 million and is likely to touch USD 30.6 million during the forecast period.
The Asia Pacific region is responsible for about 30 percent of the overall volume share in 2016 and is likely to observe a CAGR of around 5.02 percent over the forecast period. The demand for Water Based Acrylates Copolymer Rheology Modifiers are likely to grow in developing economies such as India, China, and Vietnam owing to the rising construction and paints & coatings sector. Moreover, the Middle East & Africa is estimated to observe an average growth rate, increasing with a CAGR of 4.48 percent over the forecast period. In the Middle East & Africa region, Turkey holds the largest market share with a worth of USD 5.8 million in 2016. Developed regions such as North America and Latin America are projected to observe a significant growth rate owing to strict regulatory framework along with high technology adoption rate.
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Global Competitive Analysis
The prospects for growth in the industry appears to be encouraging through the forecast period. Competitors in the market who are continually supplying customer value have formulated their corporate strategy plan in a way that can bring about the best results for development in the current scenario, while also synchronously improving their product's value. The intensifying interest levels for expansion in the market, have allowed the businesses to utilize many circumstances available in the market. This market has shaped the prospects for expansion in the portfolio along with diversification in the sector, which has enhanced the scenario for market competitors immensely in this industry. The competency to fuel their competitive edge is one of the leading causes running their efforts in this period. The companies in this industry are also trying to increase and preserve financial liquidity that can be vital to capitalize on the growth prospects as and when they arise.
The noteworthy competitors that are the competing in the Water Based Acrylates Copolymer Rheology Modifiers Market are BASF SE, Arkema Group, The Dow Chemical Company, 3V Sigma s.p.A., The Lubrizol Corporation, Euclid Chemicals and AkzoNobel N.V. among others.