The global plastics modifiers market was estimated at $4.2 billion in 2021 and is expected to hit $6.6 billion by 2031, registering a CAGR of 5.1% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Plastics modifiers are the class of additives used to increase the tensile strength of weather-sensitive polymer compounds. They are available in the form of rubbery resins. The elasticity enables plastic modifiers to absorb impact energy and increase the durability of the polymer compounds in which they are inserted. Plastic modifiers boost the tensile strength and abrasion resistance of plastic, particularly those used in cold-weather or high-impact situations. They compensate for subzero temperature-induced notch sensitivity, fracture propagation, and inherent brittleness or embrittlement.
Covid-19 scenario-
Due to disrupted supply chains worldwide, the utilization of raw materials for manufacturing plastic modifiers experienced a sharp decline, leading to a negative impact on the global plastics modifiers market during the initial phase.
Nevertheless, there has been a gradual and steady recovery post pandemic.
The global plastics modifiers market is analyzed across the type, plastic type, end-use industry, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the acrylic impact modifiers segment held the largest market share in 2021, accounting for nearly two-fifths of the global plastics modifiers market revenue, and is projected to maintain its dominance by 2031. The acrylonitrile butadiene styrene segment, on the other hand, would showcase the fastest CAGR of 5.9% during the forecast period.
By plastic type, the polyvinyl chloride segment held the largest market share in 2021, contributing to more than half of the global plastics modifiers market revenue, and is projected to maintain its dominance by 2031. It is also the fastest-growing segment with a CAGR of 5.4% during the forecast period.
By end-use industry, the packaging segment held the largest market share in 2021, garnering more than two–fifths of the global plastics modifiers market revenue. The same segment is also expected to portray the fastest CAGR of 5.5% during the forecast period.
By region, Asia-Pacific held the major share in 2021, the same region would also showcase the fastest CAGR of 5.7% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.
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The key market players analyzed in the global plastics modifiers market report include Mitsubishi Chemical Corporation, Formosa Plastics Corporation, Mitsui Chemicals, Inc., Dow, Akdeniz Chemson, LANXESS, SI Group, Inc, Sundow Polymers Co. Ltd, Arkema, Shandong Novista Chemicals Co., Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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