18-Feb-2021 | Zion Market Research
As per the Zion Market Research analysts, the global impact modifier market was valued at around USD 3.44 billion in 2018 and is projected to attain a value of about USD 5.02 billion by 2025, registering a CAGR of about 5.6% during the forecast period. The global impact modifier market is extremely fragmented and has the presence of a large number of global & regional players, comprising E.I. Du Pont De Nemours & Co., Addivant, Akdeniz Kimya San. Ve Tic. A.S., Lanxess AG, The DOW Chemical Company, Arkema Group, Kaneka Corporation, Evonik Industries AG, Mitsubishi Chemical Corporation, and LG Chem Ltd., among others. These key players are concentrating on the research & development along with the manufacturing activities of high-class and lucrative impact modifiers.
Huge Demand From End-Use Industries Likely To Drive The Market Growth During Coming Years
The expansion of the global impact modifiers market is majorly driven by the considerable requirement for plastic products from the construction, packaging, consumer goods, and automotive industries. Further, the rising applications of impact modifiers in a number of end-use industries, the rising requirement of impact modifiers within the Asia Pacific region, and technological advancements are also other factors that are projected to propel the expansion of the global impact modifiers market during the forecast period.
Based On End-Use, Construction Segment Anticipated To Witness Highest Growth Rate
Based on end-use, the global impact modifiers market is categorized into construction, packaging, automotive, consumer goods, and others. among these, the construction segment is anticipated to witness the highest growth rate in the years to come. Also, the market is leveraging the swift growth of the automotive industry across the globe. Impact modifiers are utilized to fabricate the exterior and interior components of automobiles like consoles, instrument panels, door panel skin, pillars, door panels, body side cladding, and window seals.
Asia Pacific Expected To Rule The Global Market During The Forecast Period
Asia Pacific is anticipated to witness considerable growth in the impact modifiers market during the forecast period owing to the rising need for polymer products in a number of end-use industries in key countries like India, Japan, and China. In terms of revenue, Asia Pacific is projected to be at the vanguard of the market throughout the forecast period. Moreover, North America is also expected to register a substantial growth rate during the forecast period owing to the vigorous expansion of numerous end-use industries, particularly construction and packaging, which is projected to drive the requirement for impact modifies in this region. Furthermore, the rising stipulation for convenience food and the increasing consumption of beverage are also expected to drive the regional market growth.
Browse the full “Impact Modifier Market - By Application (Engineering Plastics, PVC, Nylon, PBT, And Others); By Product (ABS, AIM, CPE, MBS, ASA, EPDM, And Others); By End-Use (Construction, Packaging, Automotive, Consumer Goods, And Others); And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/impact-modifier-market
The global impact modifier market is segmented as follows:
By End-Use Industry:
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