The Business Research Company’s Impact Modifiers Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, July 23, 2021 /EINPresswire.com/ — Companies in the impact modifiers market are focusing on collaboration and partnerships for product development and innovation. For instance, in 2020, Japan based Mitsui Chemicals collaborated with Japan based Prime Polymer to build new polypropylene plant in Netherlands having a capacity of 30,000 mt/year and cater to the growing demand for polypropylene compounds from the automotive sector.
In September 2019, Arkema, a France-based company that is engaged in manufacturing specialty chemicals and advanced materials, acquired Taixing Sunke Chemicals for an undisclosed amount. Through this acquisition, Arkema has become the sole shareholder of the company and it would be able to support the growth of its customer base in Asia and continue its business in a region which accounts for more than 50% of the global acrylic demand that would help in supply for acrylic monomer for manufacturing acrylic base impact modifiers. Taixing Sunke Chemicals is engaged in manufacturing acrylic monomers for impact modifiers that are used as additives in PVC.
Major players in the impact modifiers industry 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, Akzo Nobel N.V., and Chemtura Corporation.
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The global impact modifier market size is expected to grow from $3.68 billion in 2020 to $3.95 billion in 2021 at a compound annual growth rate (CAGR) of 7.08%. The growth in the impact modifiers market is mainly due to the rising demand from various end-users such as packaging, construction, automotive, and consumer goods. The market is expected to reach $5.31 billion in 2025 at a CAGR of 7.71%.
Asia Pacific is the largest region in the impact modifiers market in 2020. Asia-Pacific is expected to grow faster in the forecast period. The regions covered in the impact modifiers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The global impact modifiers market is segmented by type into AIM, ABS, MBS, CPE, EPDM, ASA, others, by end-user into packaging, construction, consumer goods, automotive, others, and by application into PVC, engineering plastics, PBT, nylon, others.
Impact Modifiers Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides impact modifiers global market overview, forecast impact modifiers global market size and growth for the whole market, impact modifiers global market segments, and geographies, impact modifiers global market trends, impact modifiers global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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