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The Impact Modifier industry size is expected to register a CAGR of 5.9% between 2024 and 2032 due to increasing demand in the automotive industry.
SELBYVILLE, Del., March 6, 2024 (Globe Newswire) — The impact modifier market is expected to be worth US$9.2 billion by 2032, according to one paper. recent research By Global Market Insights Inc.
The market is expected to grow significantly due to the expansion of the construction industry. With rapid urbanization and infrastructure development projects taking place around the world, the need for durable and weather-resistant materials is rapidly increasing. According to data released in December 2023, India’s construction sector registered a remarkable expansion of 13.3% year-on-year in the July-September period. This growth is a significant increase from his 7.9% growth observed in the previous quarter and represents his strongest performance in five consecutive quarters in this sector.
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Impact modifiers play an important role in increasing the toughness and impact strength of polymers, making them ideal for architectural applications such as pipes, fittings, and roofing. Additionally, technological advances in materials science and engineering are leading to the development of innovative impact modifiers with enhanced properties such as improved weather resistance, heat resistance, and UV stability. This trend is particularly evident in the automotive sector, where manufacturers continually seek lightweight materials with superior impact resistance to improve vehicle safety and fuel efficiency.
Demand for acrylic impact modifiers
The acrylic impact modifier market segment is expected to witness significant growth till 2032 due to its versatility and superior performance properties. Acrylic impact modifiers offer excellent weather resistance, UV resistance, and transparency, making them suitable for a wide range of applications including PVC compounds, engineering plastics, and thermoplastic elastomers. Increasing adoption in industries such as automotive, packaging, and electronics is further fueling the growth of this sector.
Expanding the scope of nylon usage to promote product adoption
Nylon application segment is widely utilized in various end-use industries due to its excellent mechanical properties and chemical resistance and is expected to generate significant revenue by 2032. Impact modifiers play an important role in improving the toughness and impact strength of nylon-based products such as automotive parts, electrical connectors, and consumer products. As the demand for lightweight, high-performance materials increases, the adoption of impact modifiers in nylon applications is expected to increase.
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Strict European regulations encourage industry expansion
The European impact modifiers market size is expected to expand at a considerable pace until 2032 due to stringent regulations promoting the use of environmentally friendly and sustainable materials. European Union directives on recycling and reducing environmental impact are increasing the demand for recyclable and biodegradable polymers. Impact modifiers have the ability to improve the performance and durability of polymers and are gaining attention in the packaging, automotive and construction sectors in the region. Additionally, the presence of key players and continuous research and development activities are propelling the growth of the European market.
Major competitors in the global impact modifiers market include LANXESS AG, Kaneka Corporation, Evonik Industries AG, BASF SE, and Arkema SA.
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