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Increasing automation production will require more automotive components, which will act as a driver for the Impact Modifier market

HYDERABAD, TELANGANA, INDIA, October 28, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the impact modifier market size is forecast to reach US$5.3 billion by 2026, after growing at a CAGR of 5.4% during 2021-2026. Impact Modifiers are a set of additives like Acrylonitrile Styrene Acrylate, that is used to enhance the impact strength and flexibility of an object. Impact modifiers are also added to plastic resins for increasing strength and elasticity in nature. The usage of Chlorinated Polyethylene and Non-reactive Modified Polyolefin in industrial and construction sectors is growing and boosting the demand for Impact Modifiers in the forecast period. The growing demand from the plastic industry along with the increase in usage of plastic in end-use industries like automobile, construction & building, consumer goods, and packaging is also driving the market of impact modifiers. The rapid growth of the electronics industry has increased the demand for printed circuit boards (PCB); thereby, fueling the market growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/15896/impact-modifier-market.html

Key Takeaways:

This IndustryARC report on the impact modifier market highlights the following areas -

Asia-Pacific dominates the Impact Modifier market, owing to the increasing electrical & electronics industry in the region. According to Invest India, the domestic electronics market in India to attain US$400 billion and by 2025.

The growing trend of lightweight vehicles is expected to boost the manufacturing sector in China and banning the import of scrap plastics helps the growth of consumer electronics in turn helps the Impact Modifiers Market growth.

The rapid adoption of Acrylonitrile Butadiene Styrene (ABS) products in the construction industry are supporting the market growth.

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Segmental Analysis:

Impact Modifier Market Segment Analysis – By Product Type: The Methacrylate-Butadiene- Styrene (MBS) segment held the largest share in the Impact Modifier market in 2020 and is growing at a CAGR of 5.5% during 2021-2026. Impact Modifier gives high impact strength and elasticity to the finished goods and is mostly used in the construction, consumer goods, and appliances industry. MBS is environmentally friendly which is contributing to the growth of impact modifiers.

Impact Modifier Market Segment Analysis – By Application: The PVC segment accounted for approximately 55% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. The growing focus across these regions on the aerospace and defense industries is projected to fuel the growth of the global Impact Modifier market over the forecast market.

Impact Modifier Market Segment Analysis – By End-Use Industry: The Packaging segments accounted for approximately 35% of the market share in 2020 and are estimated to grow at a significant CAGR during the forecast period. The increasing demand for plastics packaging is boosting the demand for impact modifiers during the forecasted period owing to their excellent properties like shock resistance, corrosion resistance, anti-static, and mechanical shock absorption. Packaging is important in transportation to preserve the goods. Increasing demand in food packing films, bottles, drug packaging is growing the demand for impact modifiers.

Impact Modifier Market Segment Analysis – By Geography: Asia-Pacific region held the largest share in the Impact Modifier market in 2020 up to 45%, owing to the growth of end-use industries like appliances, packaging, automobile, construction, electric & electronic, and others.

Competitive Landscape:
The top 5 players in the impact modifier industry are -
1. Evonik Industries
2. E.I. Du Pont De Nemours & Co.
3. Addivant, Kaneka Corporation
4. Arkema S.A.
5. Mitsubishi Chemical Corporation

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B. Polypropylene & High-impact Polystyrene Market
https://www.industryarc.com/Research/Polypropylene-High-impact-Polystyrene-Market-Research-501418

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