Impact Modifiers Market Overview
Key trend observed in the global impact modifiers market is the usage of impact modifiers in engineering plastics over conventional plastics, owing to their ability to balance the impact, modulus, and viscosity with an excellent retention of heat distortion temperature. The rising demand for these additives from end-use industries, such as packaging, construction, consumer goods, and automotive, is expected to augment the market growth, globally.
The impact modifiers market is categorized into ABS, acrylic, ASA, MBS, EPDM, CPE, and others, on the basis of type. Among these, the acrylic category is projected to account for the largest share in the market in coming years. This can be majorly attributed to its ability to improve impact properties of rigid clear PVC formulations, which are suitable for outdoor use. Owing to its ability to provide impact strength and gloss properties to PVC profiles, such as sheets, boards, pipes, and pipe fittings, its demand is expected to increase in the forecast period (2021–2030).
The impact modifiers market is classified into PVC, polyamide, polyester, engineering plastic, and others, on the basis of application. Among these, the PVC category is expected to account for significant demand for impact modifiers during the forecast period. These impact modifiers, when added to PVC resins, improve durability and toughness. In addition, these provide high optical and tensile properties, weatherability, processability, flammability, and heat distortion to PVC applications, which are highly demanded in the building & construction, automotive, and packaging industries, across the globe.
The impact modifiers market is categorized into packaging, construction, consumer goods, automotive, and others, on the basis of end-use industry. Of these, the packaging category is projected to account for the largest market share in coming years. The modifiers are widely used in the packaging sector, as they offer ideal balance between crease-whitening resistance and clarity for packaging applications. Also, the rising demand for food packaging films, bottles, drug packaging products is projected to boost the overall packaging end-use industry, which, in turns, drives the demand for impact modifiers.
Asia-Pacific (APAC) is the fastest-growing market for impact modifiers, worldwide. This is attributed to the fact that China being the largest manufacturers and exporters of plastics, which increased the demand for impact modifiers for end-use applications such as packaging, packaging, automotive, construction, and consumer goods. In addition, improving economic conditions, increasing growth in several industries, rising disposal income, and availability of cheap labor in developing countries have also led to the regional market growth.
Impact Modifiers Market Dynamics
Drivers
Rising demand for convenience food products, due to the change in lifestyle and alternative eating habits, has triggered the need for food packaging, which has further bolstered the growth of the impact modifiers market, across the globe. These additives provide impact strength, toughness, and hardness when compounded with polymer melt or used in the production of plastic products. These plastics are majorly used in packaging applications, especially for food and beverages, as they provide high-barrier, safety, and stable shelf-life properties. These attributes have augmented the market growth in recent years and are expected to drive the industry in coming years.
Restraints
Implementation of regulations related to consumption of plastics is one of the major factors hindering the growth of the impact modifiers market. Since plastics (PVC) are non-biodegradable in nature and majorly responsible for land pollution, many national and international laws and protocols have been implemented globally in order to reduce their usage to an extent. Therefore, restriction on the usage of plastics (PVC) may restrain the market growth.
Impact Modifiers Market Competitive Landscape
Some of the companies operating in the global impact modifiers market include Dow Inc., Lanxess A.G., Kaneka Corporation, Arkema S.A., and Mitsubishi Chemical Corporation.
The study provides the historical as well the forecast size for the impact modifiers market.
Impact Modifiers Market Size Breakdown by Segments
The global impact modifiers market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
- Acrylonitrile Butadiene Styrene (ABS)
- Acrylic
- Acrylonitrile Styrene Acrylate (ASA)
- Methacrylate Butadiene Styrene (MBS)
- Ethylene Propylene Diene Monomer (EPDM)
- Chlorinated Polyethylene (CPE)
Based on Application
- Polyvinyl Chloride (PVC)
- Polyamide
- Polyester
- Engineering Plastic
Based on End-Use industry
- Packaging
- Construction
- Consumer Goods
- Automotive
Geographical Analysis
- North America
- Europe
- U.K.
- France
- Germany
- Russia
- Italy
- Spain
- Asia-Pacific (APAC)
- Japan
- China
- India
- South Korea
- Latin America (LATAM)
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- U.A.E.
