Impact Modifier Market Overview
The Impact Modifier Market is estimated to reach at a CAGR of 5.8% during the forecast period (2024-2031). Impact modifiers are generally added to plastic compounded materials to improve the toughness, flexibility, impact strength and durability of various plastic resins.
The usage of an impact modifier depends on the level of impact resistance needed for end-use applications. Impact modifiers are gaining importance because of their numerous properties such as optical and tensile properties, processability, flammability, heat distortion and cost can also be improved by adding impact modifiers. It is used in construction, automotive, packaging, consumer goods and other sectors. The applications of impact modifiers are basically in PVC (window profiles, sidings, pipes and furniture sheets), engineering plastics and epoxy resins. It can be incorporated through polymerization in the reactor or as additives in the compounding step.
Impact Modifier Market Scope
| Metrics | Details |
| Market CAGR | 5.8% |
| Segments Covered | By Applications, By Type, By Host Polymers, By End Users and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | North America |
| Largest Market Share | Asia Pacific |
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Impact Modifier Market Dynamics
The global impact modifier market growth is driven by increasing demand for plastics in various industries, demand for improved materials, and replacement for non-recyclable products.
The increasing demand for plastics in various industries is expected to drive market growth
Plastics had gained applications in numerous industries, including construction, automotive, consumer goods, packaging and others. According to the industry analysis, plastics production globally had reached approximately 361 million metric tons. Polypropylene type plastics accounted for the highest, 23 percent, share in the total global production, which is one of the major factors for driving the impact modifier market.
In addition, polypropylene is used in a variety of applications, from car bumpers to pharmaceutical vials. According to the Recycling Today report, 2017, rubber was initially used in polypropylene to be used in car bumpers, but rubber reduces stiffness and increases viscosity. This has resulted in companies like South Carolina, Milliken Chemical, and Spartanburg developing new launches like DeltaMax impact modifiers to enhance the use of polypropylene in various end-user industries.
Also, the increasing demand for engineering plastics is expected to drive the impact modifier market, as impact modifiers are widely used to improve the performance of polyesters, polyamide, polycarbonate blends, and various other engineering plastics.
Government Regulations on PVC can affect the impact modifier market growth
Impact modifiers market is impacted by banning PVC in various countries packaging has restricted in several countries around the world such as Spain, Canada, South Korea and the Czech Republic. Some U.S. cities such as NJ, Rahway and Glen Cove, Also NY have prohibited the use of PVC in food packaging or utensils. With the reducing use of PVC, the consumption of impact modifiers is also decreasing.
COVID-19 Impact Analysis on Market
Due to the pandemic, stakeholders across the impact modifier industry have seen a notable impact as all the manufacturing industries were closed. The impact modifier market suffered a decline in 2020 due to reduced demand in construction, automotive and other related sectors. For instance, according to the Economic Times report, the automotive industry suffered a Rs 2,300 crore loss per day amid a pandemic, affecting the impact modifier market. The silicone production was hindered with halts and supply chain disruption due to restrictions imposed by the government.
However, the market is expected to recover in the upcoming years with a recovery in industries like automotive and construction. Industries are expected to work with higher production and recover all the losses by 2023, creating opportunities for impact modifier demand and resulting in market growth.
Impact Modifier Market Segmentation Analysis
By type, the impact modifier market is classified into Methyl Methacrylate Butadiene Styrene (MBS), Acrylic, Acrylonitrile Butadiene Styrene (ABS), and others.
The acrylic type impact modifier market is expected to grow at the fastest CAGR during the forecast period (2023-2030)
The acrylic-type impact modifier is expected to hold the largest market for impact modifier market due to the following advantages: high impact resistance performance, increased surface gloss of the product, improved impact strength, lowered plate-out, cost-saving regarding storage and improved product surface gloss.
Due to their numerous advantages, acrylic impact modifiers are widely used in outdoor products, including PVC profiles, sheets, boards, pipes, pipe fittings and other applications. For instance, Callaway Golf Company's golf balls provide a hybrid cover that includes an acrylic impact modifier from Dow, Midland.
Also, MBS impact modifiers have observed a significant growth for improving PVC's strength and comprehensive properties because of its similar refractive index with PVC, increasing the impact strength of PVC by 6-15 times. Various companies have been launching innovations in the field to cater for the need of the end-user industries. For instance, Kaneka Belgium has optimized the Kane Ace MBS impact modifier range for semi-rigid indoor PVC.
Impact Modifier Market Geographical Share
Asia Pacific region holds the largest market for the global impact modifier globally
The Asia Pacific holds the largest market for impact modifiers globally and is forecasted to continue its dominance as, according to the industry analysis, 2019, China accounted for approximately 30% of the plastic materials globally. The increasing demand for construction and automotive industries in the region are the main factors responsible for boosting the impact modifier market as impact modifiers are mostly used in manufacturing films, car bumpers, windmill blades, packaging industries and other industries boosting demand for the market in the region.
North America has also seen significant growth in the impact modifier market with leading companies like Dow has been leading the market in the region with a wide range for impact modifiers for a consistent increase in the gloss level of a PVC product, additives for vinyl resilient flooring, automotive, roofing, 5g telecom hardware, outdoor and electronic devices housing are expected to boost the demand of impact modifiers in the region.
Impact Modifier Market Companies and Competitive Landscape
The impact modifier market is moderately competitive with the local players' presence, followed by the global companies who contribute to the major share in the market growth. In addition, some of the key players contributing to the growth of the market are Sukano AG, Addivant, Akdeniz Chemson, Arkema, Chemigon, Dow Chemical, DuPont, En-Door, Evonik, Arkema and others. The major players are adopting various new strategies to dominate the market, such as launching new products, acquisitions and collaborations, which are contributing to the growth of the impact modifier market globally.
Sukano AG
Overview: Sukano AG manufactures additive, color masterbatches and compounds for polyester and speciality resins. It is the global partner for plastic converters and brand owners to develop innovative products and highly specialized solutions. It has a global distribution network and three production facilities located in Europe, the Americas and Asia-Pacific.
Product Portfolio: The Company manufactures a variety of products including bottles & containers, thin films & coatings, thick rigid films, sheets, fibers & filaments, biopolymers, RPET and various others.
Key Development: In 2020, Sukano AG launched a transparent impact modifier for flash-frozen, cold and room temperature applications under the RPET product portfolio to replace non-recyclable frozen food trays.
The global impact modifier market report would provide access to an approx: 69 market data table, 76 figures and 180 pages.
