Rheology Market to See 3.8% Annual Growth Through 2023
Resins and Coatings to Drive the Global Market for Rheological Technology
WELLESLEY, Mass., November 26, 2019 (Newswire.com) - The wide range of rheological technology applications for resins and coatings has contributed to the paints and coating industry having the highest market share. Resins and coatings are expected to drive the global market for rheological technology at a high pace, according to a report by BCC Research, “Rheology Market: A BCC Research Overview.”
The market expects to see a compound annual growth rate (CAGR) of 3.8% through 2023, when it could be worth $6.7 billion.
Major players in the market include: Altana AG, FCC Inc. and Lamy Rheology.
· Asia-Pacific has the highest market share, and North America is growing at the fastest pace in the global rheology technology market.
· The increasing demand for personal care, cosmetic and pharmaceutical products is expected to positively impact the global market.
· Currently, Asia-Pacific dominates the market for rheology technology due to the expansion of healthcare infrastructure and modernization across key Asia-Pacific countries.
Read the full report here: https://www.bccresearch.com/market-research/plastics/rheology-market-report.html
“The global market for rheology technology is growing primarily due to growth in end-user industries such as paints and coatings, construction and pharmaceuticals,” writes BCC analysts. “The numerous applications of rheology technology in the cosmetic, paint and coating and pharmaceutical markets are also significant drivers in the industry."
Bio-based Polymer Rheology Considered an Industry Breakthrough
Bio-based rheology modifiers, which are rheology modifiers based on renewable resources, are expected to experience growth and will become the norm among many brands in the next few years. Bio-based polymer rheology modifiers do not change the properties of a material when added and are, therefore, considered an industry breakthrough.
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Source: BCC Research