Impact Modifier Market Set to Witness an Uptick during 2019 to 2025
The global impact
modifier market size is expected to reach USD 5.11 billion by 2025, according to a new study by Grand View
Research, Inc., exhibiting a CAGR of
5.8% during the forecast period. Surging demand for impact modifiers,
particularly from the construction and automotive industries, is estimated to
provide a fillip to the market during the forecast period.
Impact modifiers find wide application
in packaging, consumer goods, automotive, construction, and other industrial
sectors. The packaging sector is the most prominent application segment for
impact modifiers. They are used for clear packaging applications that offer an
ideal balance between crease whitening resistance and clarity. Rapid increase
in the usage of plastic packaging in various end-use industries such as
industrial goods, personal care, food & beverage, and household products is
projected to fuel growth prospects.
Akdeniz Kimya San. Ve Tic. A.S., E.I. Du Pont
De Nemours & Co., The DOW Chemical Company, Lanxess AG, Evonik Industries
AG, Kaneka Corporation, Addivant, LG Chem Ltd., Arkema Group, and Mitsubishi
Chemical Corporation are some of the
key players engaged in R&D and manufacturing activities of high-quality and
cost effective impact modifiers.
Browse Research
Report On impact modifier Market:
PVC application will continue to provide substantial
growth opportunities for the impact modifier market over the forecast period.
Easy and low-cost availability is likely to boost the demand for the product in
PVC applications over the forecast period. Engineering plastics will also be a
promising application segment for the product.
Further key findings from the repot suggest:
·
Asia Pacific dominated the
overall impact modifier market in 2017. It is poised to post the highest CAGR
of 6.4% in terms of value during the forecast period. Increasing demand from
various end-use markets in the region, particularly in China and India, is
expected to drive the market
·
ABS is the largest product
segment in the market in terms of revenue in 2017. It is estimated to retain
its position through 2025
·
PVC accounted for the largest
application segment in 2017 on account of increasing applicability of PVC
products in various end-use markets
·
Packaging was estimated to be
the largest end-use segment in the market in 2017 owing to spiraling demand for
food and pharmaceutical packaging.
Rising
demand from major economies in Asia Pacific such as China and India in various
end-use industries is anticipated to help the market gain momentum over the
forecast period. However, volatility in raw material prices is posing a
challenge to the growth of the market at global level. Furthermore, slow
economic recovery and increasing environmental concerns are limiting the market
from realizing its utmost potential.
PVC application will lead the impact
modifiers market throughout the forecast horizon and is projected to hold over
three quarters of the overall revenue by 2025. Easy and low-cost availability
is likely to contribute to the growth of the segment. Moreover, increasing
applications of PVC products in various industries are anticipated to boost
overall market growth during the same period.
Browse Press
Release of this report:
On the basis of end use, the market has been divided
into packaging, construction, consumer goods, automotive, and others.
Construction is expected to be the fastest growing end-use segment, expanding
at a CAGR of 6.7% over the forecast period. The market is also benefitting from
the rapid expansion of the automotive industry worldwide. Impact modifiers are
used to manufacture interior and exterior parts of automobiles such as door
panels, instrument panels, consoles, pillars, door panel skin, window seals,
and body side cladding.
Grand View Research has segmented the
global impact modifier market on the basis of product, application, end-use:
Impact Modifier Products
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
AIM
·
ABS
·
MBS
·
CPE
·
EPDM
·
ASA
·
Others
Impact Modifier Application
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
PVC
·
Engineering Plastics
·
PBT
·
Nylon
·
Others
Impact Modifier End-Use Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Packaging
·
Construction
·
Consumer Goods
·
Automotive
·
Others
The PBT segment is also poised to
experience healthy growth in terms of revenue during the same period. Impact
modifier enhances impact strength of PBT compounds while improving hydrolysis
resistance and maintaining other properties for higher product quality. It
provides super tough impact resistance while improving hydrolysis.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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