Rapid Growth in the Global Chemical Industry Drives the Rheological Additives Market

Introduction

As per the World Chemical Outlook, 2019 Report, the world chemical sales were valued at around USD 3,730 billion in 2018. The chemical industry is an integral part of the global economic landscape. Thus, growth and developments in the chemical industry are essential to meet the various targets set by the United Nations Sustainable Developmental Goals (SDGs).

The global market is witnessing a significant upsurge in the FDI and government investments in the chemical and petrochemical industry. In addition to this, several governments across the globe have introduced favorable policies in terms of aid and subsidies for boosting industrial growth.

As per data provided by Oxford Economics, the total contribution of the chemical industry to the global GDP was valued at around USD 5.7 trillion in 2018, and the total global amount spent on R&D activities accounted for USD 51 billion. This highlights the immense potential of the chemical industry in the years to come. Rheological additives are used extensively in the chemical industry to enhance the properties of the chemical, increase its shelf life, give the fluid desirable flow properties, and prevent sedimentation of pigments within the chemical formulation.  

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 market growth.

Competitive Players

Key players

• 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.

Recent Developments

Segmentation

Rheological Additives Market: Segmentation

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

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• Germany 
• France
• Italy
• The U.K.
• The Rest of Europe

Asia-Pacific

• China 
• India
• Japan
• South Korea
• Australia
• The Rest of APAC

Central and South America and the Caribbean 

• Brazil
• Argentina
• Colombia
• The Rest of Central and South America and the Caribbean 

The Middle East

• Saudi Arabia
• The UAE
• Qatar
• Oman
• Turkey
• The Rest of the Middle East

Africa 

• Nigeria
• South Africa
• The Rest of Africa