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.