Impact Modifiers Market Driver: Increase in demand for plastics

The global impact modifiers market size is estimated at USD 3.9 billion in 2020 and is projected to reach USD 5.0 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. Impact modifiers are additives that enable plastic products to absorb shocks and protect these products from cracking or breaking. The use of impact modifiers improves the properties of polymers, such as impact strength, toughness, and hardness. The amount of impact modifier added depends upon the level of impact resistance needed for end-use applications.

Plastics have many applications in several industries, such as packaging, construction, automotive, consumer goods, textile, agriculture, and medical, among others. Plastics, especially engineering plastics, possess superior mechanical and electrical properties, excellent abrasion resistance, superior chemical resistance, and other properties in comparison to those of conventional materials such as metals, glass, paper, and ceramics.

To know about the assumptions considered for the study download the pdf brochure

Continuous innovation and the need for lighter material in several applications are encouraging the replacement of conventional materials with plastic. The increase in consumption of polymers has also increased the usage of impact modifiers in the manufacturing of products for various applications, which improve the mechanical and impact properties of the final product and reduce its cycle time.

PVC is the largest application segment of the impact modifiers market by application. The growth of impact modifiers in PVC application is mainly attributed to its easy availability and low cost as well as the increasing applicability of PVC among varied end-use industries, such as packaging, construction, automotive, and consumer goods. PVC is mainly used in pipes, windows, flooring, roofing, inflatable structures, and lighter structures. It contributes to the quality, cost-effectiveness, and safety of construction material.

The impact modifiers market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific impact modifiers market in 2019. Moreover, the Asia Pacific region is an emerging and lucrative market for impact modifiers, owing to industrial development and improving economic conditions. The presence of a number of plastic products manufacturing plants in China and rapid industrialization in Asia Pacific are expected to drive the impact modifiers market during the forecast period.

Major companies such as Dow Inc. (US), Lanxess A.G. (Germany), Kaneka Corporation (Japan), Arkema S.A. (France), Mitsubishi Chemical Corporation (Japan), LG Chem Ltd. (South Korea), Shandong Ruifeng Chemical Co., Ltd. (China), Mitsui Chemicals, Inc. (Japan), Wacker Chemie AG (Germany), Formosa Plastics Corp. (Taiwan), Sundow Polymers Co., Ltd. (China), SI Group, Inc. (US), Akdeniz Kimya San. ve Tic. Inc. (Turkey), ), En-Door (China), Novista Group (China), and Indofil Industries Limited (India) and among others.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=58674504

Top Market Players- Impact Modifiers Market

The global impact modifiers market size is estimated at USD 3.9 billion in 2020 and is projected to reach USD 5.0 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. Impact modifiers are additives that enable plastic products to absorb shocks and protect these products from cracking or breaking. The use of impact modifiers improves the properties of polymers, such as impact strength, toughness, and hardness. The amount of impact modifier added depends upon the level of impact resistance needed for end-use applications.

Major companies such as Dow Inc. (US), Lanxess A.G. (Germany), Kaneka Corporation (Japan), Arkema S.A. (France), Mitsubishi Chemical Corporation (Japan), LG Chem Ltd. (South Korea), Shandong Ruifeng Chemical Co., Ltd. (China), Mitsui Chemicals, Inc. (Japan), Wacker Chemie AG (Germany), Formosa Plastics Corp. (Taiwan), Sundow Polymers Co., Ltd. (China), SI Group, Inc. (US), Akdeniz Kimya San. ve Tic. Inc. (Turkey), ), En-Door (China), Novista Group (China), and Indofil Industries Limited (India) and among others. These players have been focusing on developmental strategies, such as acquisition, new product launch, expansion, and partnership which have helped them expand their businesses in untapped and potential markets.

To know about the assumptions considered for the study download the pdf brochure

Kaneka Corporation is one of the largest chemical manufacturers globally. Kaneka Corporation is engaged in the business of manufacturing and selling functional plastics and chemicals through its subsidiaries in the US, Belgium, Singapore, Malaysia, China, Australia, Vietnam, India, South Korea, and Taiwan. The company is focusing on increasing its foothold in the global market. It has undertaken strategic initiatives to encourage innovation, strengthening its position in the PVC additives market.

Arkema S.A. is one of the leading producers of specialty chemicals and advanced materials in the world. The company operates through three segments, namely, high performance materials, industrial specialties, and coating solutions. Additionally, the high performance materials segment consists of specialty additives, technical polymers, and performance additives. Moreover, Arkema completed the acquisition of its partner’s stake in Taixing Sunke Chemicals, its joint venture manufacturing acrylic monomers in China. With the acquisition, Arkema has become the sole shareholder of the company. With this transaction, the company would be able to support the growth of its customers in Asia and benefit from greater flexibility to run this business in a region which accounts for more than 50% of the global acrylic acid demand. This would also help in the uninterrupted supply for acrylic monomer for manufacturing acrylic base impact modifiers.

Mitsui Chemicals, Inc. (MCI) is a chemical manufacturing company that offers a wide range of chemical products that are used in day-to-day lives. Its major products consist of petrochemicals, basic chemicals, functional polymeric materials, polyurethane, fabricated products, and functional chemicals. The company adopts growth strategies to maintain its position in the market. For instance, in June 2020, Mitsui Chemicals and Prime Polymer, in which Mitsui Chemicals has a 65% stake, jointly established a company to build a new polypropylene plant in the Netherlands. The plant has a capacity of 30,000 mt/year, and operations had begun in June 2020. This expansion was done with a view of increasing demand for PP to meet light-weighting needs in bumpers, instrument panels, and more.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=58674504

Covid-19 Impact On The Global Impact Modifiers Market

 

The outbreak of COVID-19 has now spread across major APAC, European, and North American countries, affecting the market for impact modifiers since most global companies have headquarters in these regions. COVID-19 had disrupted the supply chain, which had slowed down market growth due to a lack of raw materials and unavailability of manpower. The lockdown in major countries due to this pandemic has also led to shutting down of the production facilities of plastic products.

• The COVID-19 pandemic has had a detrimental impact on the global construction business and affected the supply and cost of material & labor, which are the key cost components of construction projects. Moreover, disruption in the transportation industry has also affected the value chain of the construction industry, affecting the impact modifiers market.
• The spread of the pandemic to European and North American countries has led to a decrease in the demand for automobiles, and thus, their production. Europe and North America are the hubs for automotive manufacturers, and lockdowns imposed by governments have led to significant losses to manufacturers in these regions. This decrease in the production of vehicles has led to a reduction in the consumption of plastics for manufacturing automotive parts, affecting the market growth.
• The demand for packaging has increased during the pandemic; however, there has been a slight disruption. The major hindrance for this industry was the lockdown, as the employees were asked to stay at home during the pandemic. Due to this, many of the packaging units were closed, or the production of packaging products had declined.

To know about the assumptions considered for the study download the pdf brochure

In 2020, the global impact modifiers market size is estimated at USD 3.9 billion and projected to reach USD 5.0 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. The major drivers for the market include an increase in demand for plastics, replacement of conventional plastics with engineering plastics, and urbanization & construction activities. However, the prohibition of PVC products across various end-use industries restrains the market growth. Moreover, the demand for plastics in packaging applications and the development of impact modifiers for bio-based polymers are expected to propel the market for impact modifiers.

The impact modifiers market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific impact modifiers market in 2019. Moreover, the Asia Pacific region is an emerging and lucrative market for impact modifiers, owing to industrial development and improving economic conditions. The presence of a number of plastic products manufacturing plants in China and rapid industrialization in Asia Pacific are expected to drive the impact modifiers market during the forecast period.

Major companies such as Dow Inc. (US), Lanxess A.G. (Germany), Kaneka Corporation (Japan), Arkema S.A. (France), Mitsubishi Chemical Corporation (Japan), LG Chem Ltd. (South Korea), Shandong Ruifeng Chemical Co., Ltd. (China), Mitsui Chemicals, Inc. (Japan), Wacker Chemie AG (Germany), Formosa Plastics Corp. (Taiwan), Sundow Polymers Co., Ltd. (China), SI Group, Inc. (US), Akdeniz Kimya San. ve Tic. Inc. (Turkey), ), En-Door (China), Novista Group (China), and Indofil Industries Limited (India) and among others.

Contact – Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Development of impact modifiers for bio-based plastics

In 2020, the global impact modifiers market size is estimated at USD 3.9 billion and projected to reach USD 5.0 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. The major drivers for the market include an increase in demand for plastics, replacement of conventional plastics with engineering plastics, and urbanization & construction activities. Moreover, the demand for plastics in packaging applications and the development of impact modifiers for bio-based polymers are expected to propel the market for impact modifiers.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58674504

The rising concern for the environment is driving the market for bio-plastic materials. Bio-plastics are made up of biodegradable material and cellulose. These plastics are derived from renewable biomass sources or bio-degradable sources such as PLA. The leading players in the impact modifiers market are focusing on carrying out R&D activities to develop impact modifiers that can be used in different industries for different applications. With the increased demand for bio-based polymers, there is a requirement for developing new and improved impact modifiers. This, in turn, is expected to lead to advancements in the field of impact modifiers.

Recent Developments
In June 2020, Mitsui Chemicals and Prime Polymer, in which Mitsui Chemicals has a 65% stake, jointly established a company to build a new polypropylene plant in the Netherlands. The plant has a capacity of 30,000 mt/year, and operations had begun in June 2020. This expansion was done with a view of increasing demand for PP to meet light-weighting needs in bumpers, instrument panels, and more.
In September 2019, Arkema completed acquired its partner’s stake in Taixing Sunke Chemicals, its joint venture manufacturing acrylic monomers in China. With the acquisition, Arkema has become the sole shareholder of the company. With this transaction, the company would be able to support the growth of its customers in Asia and benefit from greater flexibility to run this business in a region which accounts for more than 50% of the global acrylic acid demand. This would also help in the uninterrupted supply for acrylic monomer for manufacturing acrylic base impact modifiers.

Asia Pacific is expected to witness the fastest growth in the impact modifiers market

The impact modifiers market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific impact modifiers market in 2019. Moreover, the Asia Pacific region is an emerging and lucrative market for impact modifiers, owing to industrial development and improving economic conditions. The presence of a number of plastic products manufacturing plants in China and rapid industrialization in Asia Pacific are expected to drive the impact modifiers market during the forecast period.

Major companies such as Dow Inc. (US), Lanxess A.G. (Germany), Kaneka Corporation (Japan), Arkema S.A. (France), Mitsubishi Chemical Corporation (Japan), LG Chem Ltd. (South Korea), Shandong Ruifeng Chemical Co., Ltd. (China), Mitsui Chemicals, Inc. (Japan), Wacker Chemie AG (Germany), Formosa Plastics Corp. (Taiwan), Sundow Polymers Co., Ltd. (China), SI Group, Inc. (US), Akdeniz Kimya San. ve Tic. Inc. (Turkey), ), En-Door (China), Novista Group (China), and Indofil Industries Limited (India) and among others.

Impact Modifiers Market worth $5.0 billion by 2025, at a CAGR of 5.3%

The global impact modifiers market size is estimated at USD 3.9 billion in 2020 and is projected to reach USD 5.0 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. Impact modifiers are additives that enable plastic products to absorb shocks and protect these products from cracking or breaking. The use of impact modifiers improves the properties of polymers, such as impact strength, toughness, and hardness. The amount of impact modifier added depends upon the level of impact resistance needed for end-use applications.

The demand for high-quality plastics from various applications increases continuously, which favors the consumption of engineering plastics. Further, rising demand for applications, such as pipes & fittings, profiles & tubing, rigid sheet & panel, wires & cables, bottles, and others, is fueling the demand for PVC, which contributes to the impact modifiers market growth. Furthermore, the outbreak of the COVID-19 pandemic is anticipated to hamper the consumption of impact modifiers, which affects the market growth.

Download PDF Brochure to Know More: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58674504

PVC is the major application in the global impact modifiers market

PVC is the largest application segment of the impact modifiers market by application. The growth of impact modifiers in PVC application is mainly attributed to its easy availability and low cost as well as the increasing applicability of PVC among varied end-use industries, such as packaging, construction, automotive, and consumer goods. PVC is mainly used in pipes, windows, flooring, roofing, inflatable structures, and lighter structures. It contributes to the quality, cost-effectiveness, and safety of construction material.

Packaging is projected to grow at the highest CAGR of the impact modifiers market

Based on the end-use industry, the packaging segment is expected to grow at the highest CAGR in 2019. Increasing demand for plastic packaging with impact modifiers across varied industry verticals is expected to be one of the key factors propelling the growth of the impact modifiers market. The packaging is a crucial process in order to preserve and transport goods. It caters to various sectors such as retail, institutional, and industrial.

The impact modifiers market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific impact modifiers market in 2019. Moreover, the Asia Pacific region is an emerging and lucrative market for impact modifiers, owing to industrial development and improving economic conditions. The presence of a number of plastic products manufacturing plants in China and rapid industrialization in Asia Pacific are expected to drive the impact modifiers market during the forecast period.

Request for Sample Request: https://www.marketsandmarkets.com/requestsampleNew.asp?id=58674504

Impact modifiers market- Trends & Technological Advancements

The impact modifiers market is expected to reach USD 13.13 billion by 2021. The growth of the impact modifiers market is primarily triggered by the huge demand for plastic products from the packaging, construction, automotive, and consumer goods industries. The packaging was the largest end-use industry segment of the impact modifiers market. A wide variety of plastic products such as bottles, caps & closures, films & special films, transport crates, and containers & drums utilizes impact modifiers, thereby influencing the growth of the impact modifiers market.  

Download PDF Brochure for more insight @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58674504 

The use of impact modifiers improves the properties of polymers, such as impact strength, toughness, and hardness. Impact modifiers are also used to maximize the performance of polymers. Advancements in impact modifiers have led to new developments in products with high efficiency and better impact strength.

The companies operating in the food and beverage industry are focusing on attractive and sophisticated product packaging with improved strength and endurance to gain consumer attention. This has led to the increased usage of impact modifiers, owing to their advanced properties, such as UV resistance, heat resistance, and high impact strength.

Factors such as increasing applicability of impact modifiers across varied end-use industries, technological advancements, and the growing demand for impact modifiers in the developing regions are expected to drive the growth of the impact modifiers market.

Packaging, construction, automotive, consumer goods are the significant-end uses of impact modifiers. The packaging segment is estimated to account for the largest share of the global impact modifiers market in 2016. Increasing demand for impact modifiers from the pharmaceutical and food packaging sectors is projected to drive the growth of the impact modifiers market in the packaging application. The growth in these end-use industries will consequently drive the growth of the market.

 In terms of value, the Methacrylate-Butadiene-Styrene (MBS) segment is expected to be the fastest-growing segment of the market from 2016 to 2021. This segment is anticipated to witness growth, owing to its increasing demand from the construction industry. The main advantages of MBS impact modifiers are that they are environment-friendly, cost-efficient, odorless, and have high impact strength.

Asia-Pacific is the largest market, both in terms of volume and value, followed by North America. Significant demand from developing countries such as China, and India, is projected to drive the global impact modifiers market. Most of the growth in China and India is being fueled by rising investments in infrastructure development and construction projects in these countries. Moreover, advancements in the electronics industry in major electronics manufacturing countries such as China, Japan, South Korea, and Taiwan have resulted in a solid turnaround in the consumption of impact modifiers in the region.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Leading players such as Evonik Industries, AG, BASF, and Dow Company deploying multiple strategies to strengthen their position in Impact modifiers market

Impact modifiers is a growing market with a significant number of global and regional players. The major companies operating in the impact modifiers market include E. I. du Pont de Nemours & Co. (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Evonik Industries AG (Germany), Clariant AG (Switzerland).

Download PDF Brochure @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58674504

These companies have been adopting various strategies, such as new product launches, mergers & acquisitions, and others in order to grow and strengthen their foothold in this market. New product launches is the most preferred growth strategy adopted by large companies to cater to the diverse needs of their customers.

More than half of Arkema’s research & development expenditure is allocated to green chemistry. The company is primarily focused on innovating new products in the field of impact modifiers, and providing customers with energy-efficient products that are developed from renewable sources. For instance, Arkema launched Lotryl T, a new copolymer that functions as impact modifiers for PET Straps in April, 2016.

Clariant is another leading company in the chemical industry. Clariant’s strategy is concentrated mainly on four strategic initiatives, namely, profitability of essential businesses, research & development and innovation, expansion of company’s competitive position in global growth markets, and optimization of the product portfolio. Clariant introduced lightweight plastics and additives for under-the-hood, interior and exterior parts of vehicles, especially for China’s local automotive and transportation industry in September, 2014. The company also provides additives for the commonly-used plastics, such as PP, PA, PUR, and ABS, thereby enhancing its presence in the automotive sector in China. Clariant entered into a distribution agreement with Connell Brothers Co. Ltd. (U.S.) to supply additives, waxes, polymer additives, and flame retardants in Australia in July, 2013. This development strategy helped the company to enhance and develop Clariant’s business in the Asia-Pacific region.

Speak with our Analyst @https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=58674504

Furthermore, companies operational in this market have also been focusing on alliances and collaborations, establishment of R&D centers, and partnerships to increase their market presence. This has further helped them to increase their market share in emerging economies.