Rise in the demand for plastics, increase in replacement of conventional plastics with engineering plastics, and increase in urbanization and construction activities are driving the market for impact modifiers.
New York, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Impact Modifiers Market by Type, By Application, End-Use Industry, Region - Global Forecast to 2025" - https://www.reportlinker.com/p03858917/?utm_source=GNW
However, the prohibition of PVC products across various end-use industries are expected to restrain the impact modifiers market.
Impact of COVID-19 outbreak on the impact modifiers market
The outbreak of COVID-19 has affected the market for impact modifiers, as most of the global companies operating in this market are based in the Asia Pacific, US, and European countries.These companies having their manufacturing units in China and other Asian countries are also severely affected.
Therefore, disruptions in the supply chain have resulted in hampering production units due to a lack of raw materials and workforce.The market is estimated to witness negative growth until the third quarter of 2020.
The lockdown in major countries due to this pandemic has also led to the shutdown of the production of plastic products.
The construction of residential & non-residential buildings and infrastructure has been a key factor in the development of various industries across countries.The COVID- 19 pandemic has had a detrimental impact on the global construction business.
It has affected the supply and cost of material and labor, which are the key cost components of construction projects.Moreover, the automotive industry is also one of the major end-use industries that have been affected by COVID-19 pandemic.
Some of the most affected regions are major production hubs and home to key links in the sector’s global supply chain. The spread of the pandemic to European and North American countries has led to a decrease in the demand for automobiles, and thus, their production.
PVC segment to lead the impact modifiers market between 2020 and 2025
PVC is the largest application segment of the impact modifiers market of the global impact modifiers market by application.The properties of PVC, such as lightweight, good mechanical strength, abrasion resistance and toughness, enable its use in various end-use industries, such as construction, electrical, automotive, and packaging.
PVC is mainly used in pipes, windows, flooring, roofing, inflatable structures, and lighter structures. It contributes to the quality, cost-effectiveness, and safety of construction material.
MBS segment to be the fastest-growing segment in the impact modifiers market
Methacrylate-Butadiene-Styrene (MBS) segment is the fastest-growing segment of the market from 2020 to 2025.It is used to improve impact strength and comprehensive performance, mainly in PVC for transparent products.
It is preferred to improve the performance of both rigid and soft PVC products such as impact strength, toughness, and tensile strength, and can be used in transparent products.The use of MBS improves transparency, weather resistance (UV & heat), and impact resistance in PVC, PC polyesters, epoxies, and other formulations.
MBS are environment friendly, required in less quantity, and cost-effective, and also have high impact strength with no odor.
Packaging segment to be the largest segment in the impact modifiers market
Based on the end-use industry, the impact modifiers market is segmented into packaging, construction, automotive, consumer goods, and others.The others segment of impact modifiers includes agriculture, pharmaceutical, furniture, and sports.
In terms of value, the packaging industry contributed the largest share of 33.8% to the impact modifiers market in 2019. The packaging industry includes various applications such as food, pharmaceutical, consumer goods, industrial, and other segments. Changing lifestyles of consumers with rising disposable income has increased the importance of plastics as packaging products.
The Asia Pacific region is expected to lead the global impact modifiers market during the forecast period
By region, Asia Pacific is estimated to account for the largest share of the global impact modifiers market in 2019.China, being one of the largest manufacturers and consumers of plastics, is expected to dominate the market in the APAC region owing to increasing demand from end-use applications such as packaging, automotive, construction, and consumer goods.
Improved economic conditions in emerging countries have also led to the growth of the market in the region.
Breakdown of primary interviews for the report on the IMPACT MODIFIERS market
• By Company Type – Tier 1 – 16%, Tier 2 –36%, and Tier 3 – 48%
• By Designation – C-Level – 12%, D-Level Executives – 28%, and Others – 60%
• By Region –Europe – 36%, North America – 28%, Asia Pacific – 20%, Middle East & Africa–12% and South America– 4%
Dow Inc. (US), Lanxess A.G. (Germany), Kaneka Corporation (Japan), Arkema S.A. (France), Mitsubishi Chemical Corporation (Japan), LG Chem Ltd. (South Korea), Shandong Ruifeng Chemical Co., Ltd. (China), Mitsui Chemicals, Inc. (Japan), Wacker Chemie AG (Germany), Formosa Plastics Corp. (Taiwan), Sundow Polymers Co., Ltd. (China), SI Group, Inc. (US), Akdeniz Kimya San. ve Tic. Inc. (Turkey), ), En-Door (China), Novista Group (China), and Indofil Industries Limited (India) and among others.
The report covers the impact modifiers market by type (ABS, AIM, ASA, MBS, EPDM, CPE, and others), application (PVC, polyamides, polyester, engineering plastics, and others), end-use industry (packaging, construction, consumer goods, automotive and others) and by region.The study aims at estimating the size and future growth potential of the market across various segments.
It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. With these insights, the study discusses the basic views on the competitive landscape, emerging & high-growth segments, high-growth regions, drivers, restraints, opportunities, and challenges in the impact modifiers market.
The report provides insights on the following:
• Market Penetration: Comprehensive information on various products of impact modifiers offered by top players operating in the market
• Product Development/Innovation: Detailed insights into upcoming developments in the impact modifiers market, R&D activities, and new applications
• Market Development: Comprehensive information about lucrative and emerging markets across different regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the impact modifiers market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the impact modifiers market
Read the full report: https://www.reportlinker.com/p03858917/?utm_source=GNW
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