Plastic Antioxidants Market Research Report

Plastic Antioxidants Market Research Report

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Plastic Antioxidants Market

Plastic Antioxidants Market is forecast to grow at a faster CAGR over the forecast period, owing to the rapidly accelerating urban population.

Growing demand for plastic antioxidants such as PVC, PE, ABS, and PP across consumer goods, automotive, healthcare, and consumer goods is a major factor fueling the plastic antioxidants market growth. Also, plastic antioxidants help reduce the chances of excessive volatile organic compounds resulted by polymer degradation and the growing demand for plastics to substitute traditional materials, driving the market growth. However, the strict regulatory norms enforced by the government to restrain the global plastic antioxidants market size.

By antioxidant type, the phenolic segment is expected to witness a faster CAGR over the forecast period, as these antioxidants protect plastics from oxidation at higher temperature.

By polymer resin, the polypropylene (PP) polymer is predicted to expand at a higher CAGR during the forecast period, owing to the growing use of plastic antioxidants in polypropylene polymer resin, especially in the packaging industry.

By region, Asia-Pacific is expected to hold a larger share over the forecast period, due to the rising use of resins in end-use industries including automotive, electronics, and oil & gas. Expansion in the construction sector in Asian countries such as China and India has fueled the demand for market growth.

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Leading players operating in the market include SONGWON, BASF SE, ADEK CORPORATION, Solvay, SI Group, Inc., Clariant, Sumitomo Chemical Co., Ltd., DOVER CHEMICAL CORPORATION, 3V Sigma S.p.A., and Everspring Chemical Co., Ltd., among others. 

Key Developments:

In 2019, BASF SE inaugurated the second phase of its new, world-scale antioxidants manufacturing plant in China. The second phase has the synthesis plant to produce the antioxidants and the plant serves 42,000 tons mainly to the customers in China.
Plastic Antioxidants Market Segmentation:
Plastic Antioxidants Market by Antioxidant Type
·         Phenolic Antioxidants

·         Phosphite & Phosphonite Antioxidants

·         Antioxidant Blends

·         Others

Plastic Antioxidants Market by Polymer Resin
·         Polypropylene (PP)

·         Polyethylene (PE)

·         Polyvinyl Chloride (PVC)

·         Polystyrene (PS)

·         Acrylonitrile Butadiene Styrene (ABS)

·         Others

Plastic Antioxidants Market by Region:
·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         North America

o   United States of America

o   Canada

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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