According to ChemAnalyst report, “Impact Modifier Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030”, Impact Modifier market has shown considerable growth in historic period and is anticipated to reach 2.85 million tonnes in 2030 and is expected to grow at a CAGR of 5.50% during the forecast period. Growing demand of Impact Modifier from various sectors including construction, automotive, packaging and consumer goods coupled with rising technological advancements is expected to boost the global Impact Modifier market in the upcoming years. Due to its renewable, biodegradable and sustainable nature, impact modifier can help in enhancing the compliance standards and macroeconomic factors.
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Impact Modifiers are basically the key additives that are added in plastic compounded materials in order to improve the physical strength, durability and flexibility of a variety of plastic resins. They protect the plastic products from minor damages like breaking and enables them to absorb shocks. Impact Modifiers also enhances the properties such as impact resistance, viscosity, modulus, and good retention of heat distortion temperature. The required amount of Impact Modifier highly depends on the level of impact resistance that is needed for end-use applications. All Impact Modifiers are either elastomeric or rubbery in nature which helps the plastic products to absorb or disappear the energy of an impact to split propagation. Unmodified Polymers such as PVC, Polystyrene, Polyamide, etc. are ductile or brittle by nature at ambient temperature. Whereas Impact polymers are elastomeric in nature that have a lower modulus than host polymers. The market of Impact Modifier is segmented into types, applications, and end-use industries. Impact Modifiers are used in numerous applications such as packaging, automotive, construction, textile, medical, consumer goods and others.
Based on the grade, the market of Impact Modifier is segmented into PolyVinyl Chloride (PVC), Polymethyl Metacrylate (PMMA), Polyolefins, Polyester, Polyamide and others. PVC held the dominant market share of the global Impact Modifier market owing to wide applicability of PVC in a wide range of applications. Based on the type, the market is segmented into Acrylonitrile Butadiene Styrene (ABS), Chlorinated Polyethylene (CPE), Ethylene Propylene Diene Rubber (EPDM/EPR), Acrylic, Processing aid and others. CPE dominates the global Impact Modifier market due to its higher heat resistance properties and variety of applications in Wire and Cable Jacketing the Roofing Membranes, Geo Membranes, Automotive, Industrial Hosing, etc. Due to rapid urbanization, construction activities and replacement of engineering plastics are propelling the growth of Impact Modifiers during the forecast period. Furthermore, emerging technologies for creating sustainable bioplastic packaging and uprising demand from the PVC segment are likely to boost the Impact Modifier market across the globe.
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In 2020, due to the outbreak of COVID-19, the Impact Modifiers market was highly impacted which led to the disruptions in supply chain, unavailability of manpower and lack of availability of raw materials. Many manufacturing industries halted their operations and production facilities which further negatively affected the global Impact Modifier market. However, the demand of Impact Modifier from the packaging industry has increased during the pandemic.
Region wise, Asia-Pacific region holds the major segment of the global Impact Modifier market. Due to majority of the engineering plastics and its downstream manufacturers are located in China, it constitutes around one-third of Global Demand. Europe accounts for the second-largest share in Global Impact Modifier Market as majority of the automotive suppliers located in the region. Based on end-use, packaging industry is set to accelerate the demand for Impact Modifiers over the next ten years. Increase in the usage in other end uses including Construction, Consumer Goods etc others will further propel the demand of Impact Modifiers.
According to ChemAnalyst report, “Impact Modifier Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030”, some of the major players operating in Global Impact Modifier market include Kaneka, Dow Chemicals, Weifang Yaxing Chemical, Arkema, LG Chemicals, Formosa Plastics, Mitsubishi Rayon, Zibo Huaxing Additives, Wanda Chemical Group, Jiangsu Tianteng Chemical industry Co and Others.
“Being linked to the downstream applications in packaging, construction, automotive and others, the Global Impact Modifier Industry has shown significant growth and is anticipated to achieve an impressive volume and CAGR in the forecast period along with the increasing population and ever-changing customer preference. It is projected that India will become one of the largest consumer markets of Impact Modifier in coming years. In addition, growing per capita income worldwide shared a stronger outlook to the country’s Impact Modifier demand. Due to the novel coronavirus, nationwide lockdowns and restrictions across the globe had affected the global supply chain logistics and caused immediate shortage of raw materials and key chemicals which led to the surged prices of Impact Modifier. Meanwhile, China serves as the major holder with latest emerging technologies. With new competitors emerging across the Impact Modifier market, it is extremely important to keep an eye on which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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