Impact Modifiers Global Market 2024 - Growth Opportunities, Top Countries, Future Trends, Revenue And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Impact Modifiers Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The impact modifiers market size has grown strongly in recent years. It will grow from $4.24 billion in 2023 to $4.64 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to polymer industry growth, rise in material reinforcement, increased automotive applications, rise in demand for automotive applications, rise in demand for construction sector.

The impact modifiers market size is expected to see strong growth in the next few years. It will grow to $6.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing sustainability and recycling, rising infrastructure development, rising healthcare and medical devices, increasing regulatory changes, rising growth in electric and autonomous vehicles. Major trends in the forecast period include bio-based impact modifiers, increased use in plastics, nanotechnology integration, engineering plastics modification, high-performance modifiers .

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Market Drivers and Trends:

The increase in demand for impact modifiers in the construction industry is expected to drive the growth of the impact modifiers market. The growth in the usage of engineering plastics, PVC such as pipes and fittings, wires and cables, rigid sheets and panels, and bottles that are used in the construction industry is contributing to the growth of impact modifiers. For instance, in November 2022, according to the Office for National Statistics, a UK-based statistics authority, in volume terms, monthly construction output increased by 0.4% in August 2022, the second consecutive increase after July 2022's upwardly revised increase to 0.1%; in level terms, August 2022 is the second-highest monthly value (El 5,011 million), with May 2022 continuing to be at the highest level since records began in January 2010 (El 5,035 million). Therefore, the rise in construction activities boosted the demand for the impact modifier market.

Major companies operating in the impact modifier market are focused on innovating sustainable solutions, such as biobased impact modifiers, to gain a competitive edge in the market. Biobased impact modifiers are environmentally friendly and sustainable. They are made from renewable raw materials, which reduces the carbon footprint of the manufacturing process. For instance, in May 2021, ADBioplastics, a Spain-based biodegradable and compostable material manufacturer, launched its additive ADBio PLA+, a biobased and compostable impact modifier to improve the resistance of virgin PLA (polylactic acid). With this additive, elongation at break is improved by 7 times compared to conventional PLA. The additive also improves processability (cycle times and density comparable to PET), barrier properties in oxygen and water vapor, and transparency. ADBio PLA+ is a biobased impact modifier that will revolutionize the normal biopolymer so that it is not so fragile and brittle in extrusion and injection applications.

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Major Key Players of the Market:

Evonik Industries AG, E.I. du Pont de Nemours and Company, Addivant USA LLC, Kaneka Corporation, Arkema S.A., Mitsubishi Chemical Corporation, LG Chem Ltd., Mitsui Chemicals Inc., SI Group Inc., Novista Group Co. Ltd., Indofil Industries Limited, Akzo Nobel N.V., Chemtura Corporation, Akdeniz Kimya Sanayi ve Ticaret A.S., The Dow Chemical Company, Chemson Group, DuPont de Nemours Inc., Ruifeng Chemical Industry Co. Ltd., Clariant AG, BASF SE, LANXESS AG, Saudi Basic Industries Corporation, Eastman Chemical Company, The Lubrizol Corporation, Croda International Plc, Wacker Chemie AG, Momentive Performance Materials Holdings LLC, Solvay SA, Sumitomo Chemical Co. Ltd., Tosoh Corporation, Asahi Kasei Corporation, Kuraray Co. Ltd.

Impact Modifiers Market 2024 Key Insights:

• The impact modifiers market size is expected to see strong growth in the next few years. It will grow to $6.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%.
• Increased Construction Activities Drive Demand For Impact Modifiers Market
• Major Impact Modifier Companies Innovate Biobased Solutions For Sustainability
• Asia-Pacific was the largest region in the impact modifiers market in 2023

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