[FURL=https://www.industryarc.com/Report/15896/impact-modifier-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Impact Modifier Market[/FURL] 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.Key Takeaways
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$400 billion and by 2025.
The growing trend of lightweight vehicles is expected to boost the manufacturing sector in China and banning the import of scrap plastics helps the growth of consumer electronics in turn helps the Impact Modifiers Market growth.
The rapid adoption of Acrylonitrile Butadiene Styrene (ABS) products in the construction industry are supporting the market growth.
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Impact Modifier Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the Impact Modifier market in 2020 up to 45%, owing to the growth of end-use industries like appliances, packaging, automobile, construction, electric & electronic, and others. The presence of leading appliance manufacturers such as Haier Electronics Group, Gree Electric Appliances, Groupe SEB SA, Panasonic, LG Electronics is driving the market growth in the region. According to Invest India, the auto component sector valued at US$ 49 billion in 2020 and is expected to reach US$ 200 billion by 2026.
Impact Modifier Market Drivers
Increasing Automotive Production
Flourishing Construction Sector
Impact Modifier Market Landscape
Impact Modifier market top companies are Evonik Industries, E.I. Du Pont De Nemours & Co., Addivant, Kaneka Corporation, Arkema S.A., Mitsubishi Chemical Corporation, LG Chem., Mitsui Chemicals Inc., SI Group Inc., Novista Group, Indofil Industries Limited and others
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