The global impact modifiers size is expected to reach USD 5,887.5 Million in 2028 and register a CAGR of 5.1% during the forecast period. Increasing requirement for engineering plastics for reducing mass of automobile components and parts is driving the market for impact modifiers. These modifiers are used to boost engineering plastics’ performance by offering durability, toughness, and heat distortion temperatures. Increasing adoption of polyester in sports products and applications is expected to propel the market growth. It is used as protective padding to avoid impact-related sports injuries.
Rapid industrialization, especially in developing economies is propelling growth of the global impact modifiers market. High adoption of PVC in various industrial applications such as building & construction, automotive, packaging, and consumer goods is a key factor in flourishing market growth.
However, fluctuating raw material prices of monomers and polymers is expected to hamper market growth during the forecast period. These prices normally depend on labor costs, tariffs, and logistics. Fluctuations in these affect the development of impact modifiers market.
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Some key highlights in the report:
- Based on the product type, the acrylic segment contributed to largest revenue share in the year 2020 and is projected to account for a major share during the forecast period. Acrylic impact modifiers enhance impact resistance of any plastic product. They are extensively used in PVC sheets, boards, pipe fittings, and PVC sheets.
- The polyamide segment is expected to account for rapid revenue CAGR throughout the forecast period. Impact modifiers are widely used to increase impact strength of polyamides along with required fluidity. Polyamide-based plastics are used in various end-use industries including consumer products, packaging, electrical, and electronics.
- Packaging segment accounted for highest revenue share in 2020 among other industry vertical segments. Rising demand for impact modifiers from food packaging and pharmaceutical industries is surging growth of impact modifiers market. Additionally, changing consumer lifestyles coupled with increasing disposable income has given rise to importance of plastics in packaging.
- The market in Asia Pacific dominated over other regional markets by contributing for largest market revenue in 2020 and is projected to maintain its position during the forecast period. Growing demand for high-impact plastic products in automotive and packaging industries and dominance of key market players are some key factors influencing market growth in Asia Pacific.
- North America accounted for second-largest revenue share in the global impact modifiers market in 2020 owing to growing trend for impact-resistant plastics in pharmaceutical, construction, and automotive industries.
- Key players in the market include Arkema SA, Formosa Plastics Corporation, Wacker Chemie AG, Dow Inc., LG Chem Ltd., Mitsubishi Chemical Corporation, Lanxess AG, Mitsui Chemicals, Kaneka Corporation, and Shandong Novista Chemicals Co. Ltd.
- Sukano, a company that makes masterbatches and additives announced launch of an innovative transparent impact modifier for PET resin in July 2020. PET resin made with a new impact modifier can be used to make packaging trays instead of specialty copolyesters.
For the purpose of this report, Emergen Research has segmented the global impact modifiers market on the basis of product type, application, industry vertical, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
- Acrylonitrile Butadiene Styrene (ABS)
- Acrylonitrile Styrene Acrylate (ASA)
- Acrylic
- Methyl Methacrylate Butadiene Styrene (MBS)
- Ethylene Propylene Diene Monomer (EPDM)
- Chlorinated Polyethylene (CPE)
- Glass Fiber
- Others
Application Outlook (Revenue, USD Million; 2018–2028)
- Polyvinyl Chloride (PVC)
- Polyamide
- Polyesters
- Engineering Plastics
- Others
Industry Vertical Outlook (Revenue, USD Million; 2018–2028)
- Packaging
- Consumer Goods
- Building & Construction
- Automotive
- Pharmaceutical
- Others
Regional Outlook (Revenue, USD Million; 2018–2028)
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
Latin America
- Brazil
- Rest of LATAM
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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