Impact Modifier Market

Global Impact Modifier Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Impact Modifier Market was worth US$ 3,678.0 Mn and is expected to grow at a CAGR of 4.9% over the forecast period. While the historical CAGR is 4.2%, the market is expected to hit US$ 5,934.3 Mn by 2032 end.

Impact modifiers are a class of chemicals used to increase the tensile strength of polymer compounds exposed to environmental pressures. They can be found as resins and are rubbery in texture. Impact modifiers absorb impact energy and increase the durability of the polymer compounds to which they have been introduced, thanks to their flexibility.

Manufacturers’ more streamlined and comprehensive product portfolio has encouraged end users to use impact modifiers. Furthermore, tailor-made offerings in the impact modifier product portfolio have enabled manufacturers to improve the impact modifier application portfolio. Weather testing of plastic additives such as impact modifiers during the production of performance materials has become more important than ever.

Weathering in-service failures, in which impact modifiers play a significant role, are becoming more common, particularly in the case of automotive plastics. Impact modifiers provided improved weatherability at a lower cost. Weathering-related failures are a particular concern for performance material manufacturers.

Market Dynamic

RISING DEMAND FOR PLASTICS AS RAW MATERIALS FUELS THE MARKET GROWTH

Due to constant innovation and the demand for lighter materials in many applications, plastic is increasingly displacing older materials. Impact modifiers, which improve the completed product’s mechanical and impact qualities and reduce its cycle time, are increasingly used in conjunction with polymers in manufacturing goods for several applications.

VOLATILITY IN THE PRICES WILL OBSTRUCT THE MARKET GROWTH

The price fluctuations of the raw materials needed to create polymers and the monomers used to make polymers place a considerable restraint on the market for impact modifiers. Changes in the price and quantity of crude oil must be considered while creating and utilizing these materials since monomers, products generated from crude oil, are used to make polymers.

Market Segments Covered in Report

By Type:

• Acrylonitrile Butadiene Styrene
• Acrylic Impact Modifiers
• Acrylonitrile Styrene Acrylate
• Methacrylate-Butadiene-Styrene
• Ethylene Propylene Diene Monomer
• Chlorinated Polyethylene
• Other Types
• Glass Fiber
• Epoxy Resin
• Polyolefin

By Application:

• Polyvinyl Chloride
• Nylon
• Polybutylene Terephthalate
• Engineering Plastics
• Other Applications
• Non-Reactive Modified Polyolefin
• Cross-Linked Polyacrylate

By End-User Industry:

• Automotive
• Construction
• Consumer Goods
• Packaging
• Other End-user Industries
• Agriculture
• Pharmaceutical
• Furniture
• Sports

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is PVC anticipated to grow throughout the forecast period?

Due to its broad application in numerous end-user sectors, including consumer products, packaging, automotive, and construction, the PVC segment is expected to dominate the market.

These polymer resins use the impact modifier as additives to increase toughness and flexibility to fulfill the physical qualities of rigid components. Additionally, it improves the toughness and impact resistance of molded and extruded plastics, particularly those used in harsh environments or under impact.

Impact modifier applications have various advantages, including superior weatherability, flammability, processability, optical, and tensile properties.

The segment’s expansion is primarily attributable to PVC’s low-cost and wide range of end-use sectors, including packaging, construction, automotive, and consumer products, as well as its easy availability.

The polyvinyl chloride (PVC) segment is anticipated to dominate the market based on the criteria above.

Why is there a huge demand for Packaging Segments during the forecast period?

In terms of revenue, packaging was the market’s largest end-use category. Due to its capacity to provide a perfect balance between crease-whitening resistance and clarity for packaging applications, the product is frequently employed in packaging applications. The market is expanding due to rising demand for food and pharmaceutical packaging. The packaging industry is also supporting this market expansion.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• North America is expected to be the largest and fastest-growing market, with a market share of 27.4% and the ability to provide the ideal balance of crease-whitening resistance and clarity for packaging applications due to rising demand for polymer products in various end-user industries in major economies. The rapid increase in the use of plastic packaging across many end-use industries is expected to drive demand for impact modifiers.
• The Asia Pacific is anticipated to grow strongly over the projected period due to the increased demand for polymer products across various end-use sectors in important countries like China, India, and Japan. The area will likely dominate the market in terms of revenue over the anticipated period.

Competition Analysis

The effect modifier market is fragmented, with a handful of prominent businesses controlling a sizeable share of it. Industries start to suffer as economic activity slows. The market insight reports and intelligence services offered by DBMR take into account the expected effects of the economic slump on the pricing and accessibility of the items. With this help, our clients may frequently stay one step ahead of their rivals, forecast their sales and revenue, and determine their expenses for profit and loss.

The key developments in the Global Impact Modifier Market are:

• In June 2020, Mitsui Chemicals and Prime Polymer, in which Mitsui Chemicals has a 65% share, teamed together to build a new polypropylene facility in the Netherlands. The factory’s 30,000 mt/year capacity is in operation. This extension was made to meet the growing demand for PP, which was needed to make components like bumpers and instrument panels lighter.
• In September 2019, Arkema acquired its joint venture partner’s shareholding in Taixing Sunke Chemicals, making acrylic monomers in China. Due to the acquisition, Arkema is now the only shareholder in the company left.

A list of some of the key suppliers present in the market are:

• Dow
• LANXESS AG
• Kaneka Corporation
• Arkema
• Mitsubishi Chemical Corporation
• LG Chem.
• Shandong Ruifeng Chemical Co., Ltd.
• Mitsui Chemicals, Inc.
• Wacker Chemie AG
• Formosa Plastics Corporation
• Sundown Polymers Co., Ltd.
• SI Group, Inc.
• Akdeniz Clemson
• Endoor
• Shandong Novista Chemicals Co., Ltd
• Indofil Industries Limited.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.