Global Impact Modifier Market: Overview
The growth of the global impact modifier market has gathered pace, owing to the pivotal use of impact modifier in construction processes and automotive industries. Impact modifiers are a group of additives which help in enhancing the strength of polymer compounds. They are available in the form of resins and imparts rubbery nature. This elastic nature of impact modifier increases the durability of polymer compounds when incorporated in them. Apart from these, impact modifier improves other properties such as weatherability, optical and tensile properties, processability, heat distortion, and flammability.
An upcoming report on the global impact modifier market by Transparency Market Research could be a valuable source of information for major stakeholders in the market. This is because of the exhaustive information, gathered after thorough primary and secondary research, contained in it. The report would be an objective guideline of growth drivers, restraints, opportunities, and pitfalls in the market. The report would also offer a brilliant study of the market as it focuses on market dynamics, segmentation, competitive landscape, and geographical outreach. It could be a useful guide for players to cement a strong position in the global impact modifier market.
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Global Impact Modifier Market: Key Trends
Rising applicability of impact modifiers across various industries and rapid technological advancement are believed to be driving the global impact modifier market. Impact modifiers are extensively used in consumer goods, packaging, industrial sectors, construction, and automotive. Impact modifier shows significant properties of toughness and heat-resistance. They are widely used in packaging to offer an ideal balance between clarity and crease whitening resistance. Rising usage of plastic packaging in many industries, growing demand for food packaging products, and increasing packaging of pharmaceutical products are projected to boost the global impact modifier market.
Impact modifiers also find use in personal care, household products, and food and beverages. An increasing trend of using cost-effective and easy-to-use materials in various industrial purposes is expected to propel the global impact modifier market. Impact modifiers are highly dependent on the host polymer. They help in enhancing weather resistance, transparency, and impact resistance in PVC, PC polyesters, and epoxies. Impact modifier has high impact strength and they also exhibit environment-friendly nature. Impact modifiers are available in the form of ABS, EPDM, ASA, MBS, CPE, and AIM. Increasing demand for high quality plastics, growing demand for premium quality vehicles, and rapid urbanization are believed to be fueling the global impact modifier market.
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Global Impact Modifier Market: Regional Outlook
Geographically, Asia Pacific is expected to lead the global impact modifier market as the region could be home for top manufacturers of impact modifiers in the future. Rising automobile industries, rapid industrialization and urbanization, and growing population could also serve to fuel the global impact modifier market in the region. The prominent countries in this region are China and India. Rising disposable income is expected to indirectly benefit the global impact modifier market in these countries.
Global Impact Modifier Market: Competitive Dynamics
Some of the prominent players operating in the global impact modifier market are Lanxess Ag, Arkema Group, Lg Chemicals, Evonik Industries, and Kaneka Corporation.