Selbyville, Delaware , March 06, 2024 (GLOBE NEWSWIRE) -- Impact Modifiers Market size is anticipated to be worth USD 9.2 billion by 2032, as per a recent study by Global Market Insights Inc.
The market will grow significantly owing to the expanding construction industry. With rapid urbanization and infrastructural development projects worldwide, the need for durable and weather-resistant materials has surged. According to data released in December 2023, the Indian construction sector experienced a notable expansion of 13.3% in the period of July to September compared to the same period last year. This growth marks a significant increase from the 7.9% growth observed in the preceding quarter, representing the sector's most robust performance in five consecutive quarters.
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Impact modifiers play a crucial role in enhancing the toughness and impact strength of polymers, making them ideal for construction applications such as pipes, fittings, and roofing materials. Furthermore, technological advancements in material science and engineering have led to the development of innovative impact modifiers with enhanced properties, such as improved weatherability, heat resistance, and UV stability. This trend is particularly evident in the automotive sector, where manufacturers are continuously seeking lightweight materials with superior impact resistance to enhance vehicle safety and fuel efficiency.
Demand for acrylic impact modifiers
The acrylic impact modifiers market segment is expected to witness significant growth through 2032 owing to its versatility and excellent performance characteristics. Acrylic impact modifiers offer exceptional weatherability, UV resistance, and clarity, making them suitable for a wide range of applications, including PVC compounds, engineering plastics, and thermoplastic elastomers. The growing adoption in industries such as automotive, packaging, and electronics is further driving the segment growth.
Wider usage of nylon to push product uptake
The nylon application segment is poised to generate substantial revenues by 2032 as it is widely utilized in various end-use industries due to its excellent mechanical properties and chemical resistance. Impact modifiers play a crucial role in improving the toughness and impact strength of nylon-based products, including automotive components, electrical connectors, and consumer goods. As the demand for lightweight and high-performance materials continues to rise, the adoption of impact modifiers in nylon applications is expected to escalate.
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Stringent regulations in Europe to push industry expansion
Europe impact modifiers market size will expand at a considerable pace through 2032, driven by stringent regulations promoting the use of eco-friendly and sustainable materials. The European Union's directives on recycling and reducing environmental impact have propelled the demand for recyclable and biodegradable polymers. Impact modifiers, with their ability to enhance the performance and durability of polymers, are gaining traction in the region's packaging, automotive, and construction sectors. Additionally, the presence of key players and ongoing R&D activities are augmenting market growth in Europe.
The major contenders in the global impact modifiers market are LANXESS AG, Kaneka Corp., Evonik Industries AG, BASF SE, Arkema SA among others.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
