Major players in the impact modifiers market are Evonik Industries, E. I. Du Pont De Nemours & Co. , Addivant, Kaneka Corporation, Arkema S. A. , Mitsubishi Chemical Corporation, LG Chem. , Mitsui Chemicals Inc.
New York, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Impact Modifiers Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06130131/?utm_source=GNW
, SI Group Inc., Novista Group, Indofil Industries Limited, Akzo Nobel N.V., and Chemtura Corporation.
The global impact modifiers market is expected to grow from $3.68 billion in 2020 to $3.95 billion in 2021 at a compound annual growth rate (CAGR) of 7.08%. The growth is mainly due to the rising demand from various end-users such as packaging, construction, automotive, and consumer goods. The market is expected to reach $5.31 billion in 2025 at a CAGR of 7.71%.
The impact modifier consists of sales of impact resistance modifier products by entities (organizations, sole traders, or partnerships) that manufacture impact modifiers for Polyvinyl chloride (PVC), engineering plastics, epoxy resins.Impact modifiers are the key additives for increasing flexibility and improve durability, the toughness of plastic resins, and meeting physical property requirements of rigid parts.
They are added to compounded materials to improve durability and toughness of plastic resins.
The main types of products in the impact modifiers market are. acrylic impact modifiers (AIM), acrylonitrile butadiene styrene (ABS), methacrylate-butadiene- styrene (MBS), chlorinated polyethylene (CPE), ethylene propylene diene monomer (EPDM), acrylonitrile styrene acrylate (ASA) and others. The acrylic impact modifier is used to improve the resistance performance of the product, ABS impact modifier is used in applications such as computer and printer housings, consumer electronics, appliances, garden equipment, automotive parts and toys. MBS impact modifier is tailor-made for the specific needs for rigid and semi-rigid indoor PVC applications. CPE impact modifier is used as a toughening agent and possess resistance abilities to oil, ozone and fire. EPDM impact modifiers are used in process industries handling nitric acid, and chromic acid corrosive environments in small concentrations in applications such as in the electroplating industry. ASA impact modifiers are used in general prototyping in 3D printing and the automotive industry due to high weather resistance. The impact modifiers products end-users are packaging, construction, consumer goods, automotive, and others. The products are applied to PVC, engineering plastics, PBT, nylon, and others.
Asia Pacific is the largest region in the impact modifiers market in 2020.Asia-Pacific is expected to grow faster in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Environmental damage has always been a major challenge in the impact modifiers market.The increase in demand for eco-friendly products is restraining the growth impact modifier market.
Polyvinyl chloride, highly pervasive plastic particles release hazardous chemicals into the surrounding soil that can later drain into groundwater and also causes environmental damage.From 2015-2020, global plastic production moved up from 300 million metric tons to 360 million metric tons.
According to an analysis of European plastics production, demand, and waste data 2019, 7.2 million tons of plastic post-consumer waste were landfilled, while 9.4 million tons were collected for recycling and approximately 12.4 tons were incinerated. Thus, growing environmental damage regarding the usage of PVC products can inhibit the growth of the market.
In September 2019, Arkema, a France-based company that is engaged in manufacturing specialty chemicals and advanced materials acquired Taixing Sunke Chemicals for an undisclosed amount.Through this acquisition, Arkema has become the sole shareholder of the company and it would be able to support the growth of its customer base in Asia and continue its business in a region which accounts for more than 50% of the global acrylic demand that would help in supply for acrylic monomer for manufacturing acrylic base impact modifiers.
Taixing Sunke Chemicals conducts businesses in China is engaged in manufacturing acrylic monomers that are impact modifiers that are used as additives in PVC.
The increase in demand for impact modifiers in the construction industry is expected to drive the growth of the impact modifiers market.The growth in the usage of engineering plastics, PVC such as pipes and fittings, wires and cables, rigid sheets and panels, bottles that are used in construction industries are contributing towards the growth of impact modifiers.
According to Office for National Statistics, Great Britain, 2019 the value of the construction industry grew up to $165 billion in 2019. Therefore, the rise in construction activities boosted the demand for the impact modifier market.
Companies in the impact modifiers market are focusing on collaboration and partnerships for product development and innovation. For instance, in 2020, Japan based Mitsui Chemicals collaborated with Japan based Prime Polymer to build new polypropylene plant in Netherlands having a capacity of 30,000 mt/year and cater to the growing demand for polypropylene compounds from the automotive sector.
The countries covered in the impact modifiers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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