An Incisive, In-depth Analysis on the Impact Modifier Market
This study offers a comprehensive, 360 degree analysis on the Impact Modifier market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Impact Modifier market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
An introduction to the impact modifier market
Impact modifiers are a group of additives which are used to enhance the strength of polymer compounds which are subject to weather forces. They are available as resins and have a rubbery nature. The elasticity helps impact modifiers to absorb the energy of the impact and make polymer compounds more durable in which they incorporated. The impact modifiers market is segmented into product type, applications and end use. On the basis of product type, the impact modifiers market is segmented into ABS impact modifier, EPDM impact modifier, MBS impact modifier, ASA impact modifier, AIM impact modifier and CPE impact modifier. On the basis of application, the impact modifier market is segmented into PVC, Nylon, PBT and engineering plastic. In terms of volume, ABS impact modifier constitutes a much larger share in the impact modifier market than the rest segments. Increasing demand for high performance plastics is a major factor driving demand for impact modifiers worldwide. While this is expected to further exert significant pressure on an already strained public transport infrastructure globally, increasing demand is expected to contribute significantly to growth of the global impact modifiers market over the forecast period, attributed primarily to increasing willingness of urban consumers to spend on premium quality vehicles and accessories such as safety add-ons, and exterior and interior products, which are incorporated with impact modifiers.
In Asia Pacific region, specifically China and India, a significantly large customer base presents manufacturers of impact modifiers with a significant potential. In addition, the number of nuclear families in urban areas in various countries in APAC is increasing, which is a factor fueling demand for automobiles, which is an indirect factor directly impacting the growth of the impact modifiers market. In both the countries, presence of a large working age population, particularly the younger generation, is driving demand for cars (Average age at which cars are purchased in India was 39 in 2000, 36 in 2005, 33 in 2010 and 30 in 2015). The demand for individual vehicles is increasing in both these countries. Moreover, rising per capita and disposable incomes along with China’s and India’s changing demographic distribution are positively affecting the growth of the automobile segment which indirectly demands the utilization of impact modifiers.
In terms of value, the global impact modifier market is expected to represent an incremental opportunity of US$ 171.6 Mn by 2018 end over 2017. By product type, the MBS impact modifier segment is expected to register a CAGR of 6.0 % in the impact modifier market. The Middle East & Africa region is expected to register relatively sluggish growth in the impact modifier market.
Infrastructure development presents lucrative opportunities for impact modifier manufacturers
The IT sector has been witnessing substantial growth in the recent past, especially in developed and developing economies. This is resulting in increasing office space owing to infrastructure development, which is driving demand for office equipment and products incorporated with impact modifiers such as computers, storage batteries, communication equipment, and switchgear and switchboard apparatus. This development is voluminously driving the growth of the impact modifiers market.
The number of malls globally have doubled over past 5 years (2010-15) with electronic megastores such as Croma, Next, Reliance Digital etc. in India, Virgin Megastore, Saturn, Euronics in Europe, Best Buy, Suning in China, CDW Corporation, Apple Computer retail stores, Staples in the U.S. This has proved to be the perfect platform for companies to showcase their impact modifiers product range and create a wider consumer base in impact modifier market.
Engineering plastics costs higher than commodity plastics due to the addition of impact modifiers and various other processing and enhanced properties.
High cost of impact modifiers employed while manufacturing or processing of engineering plastics impacts final cost of engineering plastics available in market. For example, in the case of ABS impact modifier, benzene is the key ingredient in the manufacture of styrene, whose price fluctuation will directly affect ABS impact modifier cost in the impact modifier market.
As impact modifiers are part of plastic processing, manufacturers from developing countries in Asia such as India and Thailand do not have the processing capacity when compared to those in Europe. This is due to limited availability of latest technologies and machinery with high processing speeds, which are very essential in the impact modifiers market. This is one of the key reasons for manufacturing cost being on the higher side in the impact modifier market.
China is expected to become a key market for impact modifiers
On the basis of region, the market in China is anticipated to dominate the global impact modifiers market in 2018. China is expected to gain significant market share in revenue terms by 2028 end. The China market for impact modifiers is expected to expand at a CAGR of 7.0% between 2018 and 2028.
Report Description for Impact Modifier Market
This FMI study offers a ten-year analysis and forecast for the global impact modifier market between 2018 and 2028. The study considers 2017 as the base year with market values estimated for 2018 and a forecast developed for the duration between 2019 and 2028. Compound Annual Growth Rate (CAGR) is represented from 2018 to 2028. The study covers various perspectives of the impact modifiers market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global impact modifiers market is projected to grow at a CAGR of 5.2% between 2018 and 2028 in terms of value. Growing demand for performance plastics and additives especially in end use sectors such as automotive and packaging industries to cater to the evolving applications of engineering plastics, PVC (polyvinyl chloride), etc. are expected to open up multiple avenues for manufacturers of impact modifiers globally.
The Future Market Insights report on impact modifiers carefully analyses the market at a global and regional level through market segmentation on the basis of key parameters such as product type, application and end use. The primary objective of the report on impact modifiers is to offer key insights on market updates, competition positioning, current trends, market potential, growth rates and other relevant information and statistics in a suitable manner to the readers or various stakeholders of the impact modifiers market.
Impact modifiers are additives incorporated in a variety of plastics, especially extruded and molded plastics. The primary function of impact modifiers is to enhance the toughness and durability of these plastics especially when exposed to adverse weather or a variety of impact forces. Typically, impact modifiers are added to PVC, engineering plastics such as polyesters, polycarbonate blends, polyamides; as well as in epoxy resins where they are used in collision resistance and applications requiring lighter materials.
The report on impact modifiers is structured to facilitate the reader to develop a thorough understanding about the market. It begins with definitions of impact modifiers, followed by the market background, market dynamics and a market analysis by key segments, regional analysis and competition landscape. Each section covers a qualitative and quantitative assessment of the impact modifiers market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews and trends in the market.
Impact Modifier Market: Report Structure
The report begins with an introduction to the impact modifiers market, defining the market taxonomy and product definitions regarding the global impact modifiers market assessment. In the next section, the report describes the market evolution and seeking to address the specific factors governing the demand for impact modifiers, covering macro-economic factors, parent industry factors, forecast factors, regional weighted average pricing analysis and value chain overview, covering approximate margins and an indicative list of stakeholders involved in each stage.
The next section of the report on impact modifiers discusses market dynamics such as drivers, restraints and trends impacting the market growth at a global level. Market opportunities or the potential for manufacturers have been presented in the subsequent section of the same chapter. This section also includes the impact assessment of market dynamics on the global impact modifiers market at a qualitative level based on analysis facts and insights.
Subsequent sections of the report provide value (US$ Mn) and volume (metric tons) projections for the impact modifiers market on the basis of the above mentioned segments at a global level. The global market values represented in these sections have been agglomerated by collecting data and information at a regional level. The market information, along with key facts and insights, covers unique analysis frameworks such as absolute $ opportunity analysis, year-on-year growth trend comparison, market share and attractiveness analysis for each of the sub-types covered in the above segments.
The next section of the report presents a summarised view of the global impact modifiers market based on eight prominent regions considered in the study. The section includes the regional market position, growth potential, trends and market attractiveness analysis for each of these regions.
The market analysis sections on impact modifiers cover Y-o-Y growth trends, market share analysis, market attractiveness and incremental $ opportunity assessment for each above mentioned segment. These sections analyse the degree to which the global drivers are influencing the impact modifiers market in each region.
The report provides detailed competitive and company profiles of key participants operating in the global impact modifier market. Some of the major companies operating in the global impact modifier market are Kaneka Corporation, Arkema S.A., E. I. du Pont de Nemours and Company, LANXESS Corporation, BASF SE, Clariant AG, Shandong Ruifeng Chemical Co., Ltd., Akdeniz Kimya San. ve Tic. A.S., Addivant USA, LLC, Akzo Nobel N.V., Evonik Industries AG, Sundow Chemicals and Weifang Tianrui Chemical co. Ltd amongst others.
Impact Modifier Market: Research Methodology
All the above sections evaluate the present market scenario and growth prospects in the global impact modifier market, while the forecasts presented in the sections assesses the market size in terms of volume and value. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the global impact modifier market is expected to develop in the future. Given the characteristics of the impact modifier market, our analysts engaged in in-depth primary interviews and discussions with several industry participants (manufacturers, distributors/service providers, and end users, among others) and opinion leaders. A detailed discussion guide comprising essential data points and certain key findings has been developed and shared with several of the prospective respondents. Opinions on a variety of aspects pertaining to the impact modifier market are sought and these are aggregated, and further validated ascertain appropriate shares to individual segments. Simultaneously, secondary research, wherein information from key sources such as company presentations, industry association publications, technical papers, trade associations, and agencies were gathered and our own analysis was carried out. However, forecasting the market in terms of various segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecast exercise.
As previously highlighted, the impact modifier market has been split into a number of segments. All the sub-segments by product type, application, end use and region have been analysed on the basis of basis point share (BPS) to understand each individual segment’s relative contribution to the market growth. This detailed level of information is important for the identification of various key trends witnessed in the impact modifier market.
In order to understand the key market segments in terms of the growth and application of impact modifiers across analyzed regions, Future Market Insights has developed an attractiveness index, which will help providers identify real market opportunities.
Impact Modifier Market: Competitive Landscape
In the final section of the report, a competitive landscape of the impact modifier market has been included to provide report audiences with a dashboard view categorised on the basis of providers present in the value chain, their presence in the impact modifier market and key differentiating factors and strategies. The primary category of providers covered in the report includes the manufacturers of impact modifiers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the impact modifiers market. Detailed profiles of the providers are also included in the scope of the report to evaluate their key product offerings, strategic overview, and recent developments in the impact modifiers market. Examples of some of the key competitors covered in the report include Kaneka Corporation, Arkema S.A., E. I. du Pont de Nemours and Company, LANXESS Corporation, BASF SE, Clariant AG, Shandong Ruifeng Chemical Co., Ltd., Akdeniz Kimya San. ve Tic. A.S., Addivant USA, LLC, Akzo Nobel N.V., Evonik Industries AG, Sundow Chemicals and Weifang Tianrui Chemical co. Ltd amongst others.
Global Impact Modifier Market – By Product Type
ABS Impact Modifier
EPDM Impact Modifier
MBS Impact Modifier
ASA Impact Modifier
AIM impact Modifier
CPE Impact Modifier
Global Impact Modifier Market – By Application
Global Impact Modifier Market – By End Use
Global Impact Modifier Market – By Region
South-east Asia & rest of Asia Pacific
Middle East & Africa
Impact Modifier Market Reports - Table of Contents
20. Research Methodology