The global impact modifier market size is expected to reach USD 5.11 billion by 2025, according to a new study by Grand View Research, Inc., exhibiting a CAGR of 5.8% during the forecast period. Surging demand for impact modifiers, particularly from the construction and automotive industries, is estimated to provide a fillip to the market during the forecast period.
Impact modifiers find wide application in packaging, consumer goods, automotive, construction, and other industrial sectors. The packaging sector is the most prominent application segment for impact modifiers. They are used for clear packaging applications that offer an ideal balance between crease whitening resistance and clarity. Rapid increase in the usage of plastic packaging in various end-use industries such as industrial goods, personal care, food & beverage, and household products is projected to fuel growth prospects.
PVC application will continue to provide substantial growth opportunities for the impact modifier market over the forecast period. Easy and low-cost availability is likely to boost the demand for the product in PVC applications over the forecast period. Engineering plastics will also be a promising application segment for the product.
Rising demand from major economies in Asia Pacific such as China and India in various end-use industries is anticipated to help the market gain momentum over the forecast period. However, volatility in raw material prices is posing a challenge to the growth of the market at global level. Furthermore, slow economic recovery and increasing environmental concerns are limiting the market from realizing its utmost potential.
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Further key findings from the repot suggest:
Asia Pacific dominated the overall impact modifier market in 2017. It is poised to post the highest CAGR of 6.4% in terms of value during the forecast period. Increasing demand from various end-use markets in the region, particularly in China and India, is expected to drive the market
ABS is the largest product segment in the market in terms of revenue in 2017. It is estimated to retain its position through 2025
PVC accounted for the largest application segment in 2017 on account of increasing applicability of PVC products in various end-use markets
Packaging was estimated to be the largest end-use segment in the market in 2017 owing to spiraling demand for food and pharmaceutical packaging.
Grand View Research has segmented the global impact modifier market on the basis of product, application, end-use, and region:
Impact Modifier Products Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
AIM
ABS
MBS
CPE
EPDM
ASA
Others
Impact Modifier Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
PVC
Engineering Plastics
PBT
Nylon
Others
Impact Modifier End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Packaging
Construction
Consumer Goods
Automotive
Others
Impact Modifier Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Asia Pacific
China
India
Japan
South Korea
Central & South America
Brazil
Middle East & Africa
Saudi Arabia
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