According to the recent study the impact modifiers in the global plastic additive market is projected to reach an estimated $3.1 billion by 2028 from $2.3 billion in 2023, at a CAGR of 5.4% from 2023 to 2028. Growth in this market is primarily driven by increase in demand from the construction and automotive industries and growing demand for replacement of conventional plastics with engineering plastics.
A more than 150 – page report is developed to understand trends, opportunities and forecast in impact modifiers in the global plastic additive market by application (PVC, polyamide, polyesters, and engineering plastics), end use industry (packaging, construction, consumer goods, and automotive), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“PVC market is expected to remain the largest segment during the forecast period.”
Based on application, the impact modifiers in the global plastic additive market is segmented into PVC, polyamide, polyesters, and engineering plastics. Lucintel forecasts that the PVC market is expected to remain the largest segment due to its wider usage in various applications, such as construction, automotive, and packaging industries, owing to its high optical and tensile properties, flammability, and improved durability and toughness.
“Within the impact modifiers in the global plastic additive market, the packaging segment is expected to remain the largest end use industry”
Based on end use industry the packaging segment is expected to witness the highest growth over the forecast period due to the increasing demand from the food packaging and pharmaceutical sectors.
“Asia pacific will dominate the impact modifiers in the global plastic additive market in near future”
APAC will remain the largest region due to the presence of key plastic manufacturers and exporters in the region and growing demand from end use applications, such as automotive, construction, packaging, and consumer goods industries.
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Major players of impact modifiers in the global plastic additive market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Dow, LG Chem, Kaneka Corporation, Arkema, and Mitsubishi Chemical Corporation are among the major impact modifiers in the global plastic additive providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/impact-modifiers-in-plastic-additive-market.aspx or helpdesk@lucintel.com
