Dynamic Nature of Personal Care Industry: Specialty Chemicals: Rheology modifiers, considered part of specialty chemicals, constantly evolve to meet changing customer needs. Market Competitiveness: Leading players in the market must adapt to trends in end-use industries to stay competitive. Importance of Rheology Modifiers in Personal Care: Key Additives: Rheology modifiers play a crucial role as additives in personal care products, maintaining the texture and consistency of hair care and skin care items. Emerging Trend: Multifunctionality in Product Development: Continuous Focus: The personal care industry is witnessing a significant trend โ a continuous focus on making products multifunctional. Expanding Beyond Major Categories: Initially seen in major categories like skin care and hair care, this trend is extending to other product categories, including baby care and antiperspirants. Manufacturer Response: Extending Product Portfolio: Catering to Dynamic Needs: In response to the dynamic consumer requirements, manufacturers of rheology modifiers are expanding their product range to include multifunctional synthetic rheology modifiers. Notable Product Launches: Ashland's Surfa Thix N Polymer (March 2016): A US-based fine chemical manufacturer, Ashland, introduced Surfa Thix N Polymer, a multifunctional rheology modifier for personal care. The aim was to provide both aesthetics and viscosity stabilizing properties to body and hand wash products. AkzoNobel N.V.'s Acrylic-Based Rheology Modifier (2013): Another major player, AkzoNobel N.V., launched a multifunctional acrylic-based rheology modifier designed for hair gels and styling products. This product serves as both a fixative and a viscosity stabilizer. In essence, the personal care industry is evolving, with a notable focus on making products multifunctional. This shift prompts manufacturers of rheology modifiers to enhance their product portfolios by introducing multifunctional synthetic options to meet the diverse needs of consumers.
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Market Opportunities | Explains several challenges that affect the expansion of the industry |
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