Plastic Antioxidants Market by Antioxidant Type (Antioxidant Blends, Organic Sulfides, Phosphites, Amines, Phenols), Polymer Resin (Polystyrene, Acrylonitrile Butadiene Styrene, Polyvinyl Chloride, Polypropylene, Polyethylene), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast to 2027
Newark, NJ, May 22, 2022 (GLOBE NEWSWIRE) — According to the report published by Fior Markets, the global plastic antioxidant market is expected to grow from $3.21 billion in 2019 to $5.27 billion in 2027, with a CAGR of 6.4% over the forecast period 2020-2027. Asia-Pacific has the largest growth in market share in global plastic antioxidants. Furthermore, it is expected to show the highest market share in global plastic antioxidants during the forecast period due to the increased demand from the packaging and automotive industries in this region. Moreover, an increase in demand from various application segments and increased investment by private manufacturers are contributing to the growth of the Asia-Pacific market.
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The major players in the global plastic antioxidant market are SI Group, Clariant AG, Sumitomo Chemical Co. Ltd., Everspring Chemical Co. Ltd., 3v Sigma Inc., Oxiris Chemicals SA, Lanxess, Krishna Antioxidants Pvt. Ltd., BASF SE, Songwon, Amfine Chemical Corporation, Solvay SA, Omnova Solutions Inc., Rifra Masterbatches SPA and Dover Chemical Corporation. The major players implement various strategies such as agreement, business expansion and product launch to maintain the competition in the market. BASF is the plastic antioxidant producer and has pursued several growth strategies, including development in the plastic antioxidant market. The company has opened a new antioxidant plant in Shanghai. For Irganox 1010, the company has also expanded its production capacity worldwide. From its regional supply points, the company aims to respond to increased demand from customers in the Middle East and Africa, Asia and Europe.
The antioxidant segment includes mixtures of antioxidants, organic sulfides, phosphites, amines and phenols. Blends are superior to the other type of antioxidant. Mixtures of phenols and phosphites are beneficial for the stabilization of the melting process of many plastics. The decomposing hydroperoxides use phosphites and thioethers. Phosphite is effective in high temperature melting operations. While in the solid phase, thioether is used at prolonged use temperatures. In the oxidation process, phenols are mainly used by scavenging the peroxy radical intermediates. It is applicable for a wide temperature range and is beneficial in improving the long-term thermal stability and processing of plastics.
The segment of the polymer resin includes polystyrene, acrylonitrile butadiene styrene, polyvinyl chloride, polypropylene and polyethylene. Polypropylene polymer resin segment has the largest share in the plastic antioxidant market. Growing production and consumption of polypropylene and growth in the packaging and automotive industries are driving demand for plastic antioxidants. The polyethylene segment is also expected to have the largest market share. It is a durable and lightweight plastic. It is used as laminates, plastic parts, films, tubes in the automotive, packaging and electronics industries. The largest consumer of polyethylene is packaging. It has types such as HDPE, LLDPE and LDPE.
In polypropylene polymer resin, plastic antioxidants are expected to be highest during the forecast period. The acrylonitrile-butadiene-styrene polymer resin segment is also expected to show the highest growth. The plastic antioxidant market is driven by increased disposable income, plastic replacement of traditional materials and urbanization in emerging economies. Also, plastic consumption in industries is increasing, resulting in a contribution to the growth of the market.
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About the report:
The global plastic antioxidants market is analyzed by value (USD billion). All segments are analyzed on a global, regional and national basis. The study includes the analysis of more than 30 countries for each segment. The report provides in-depth analysis of driving factors, opportunities, restraints and challenges to gain the key insight of the market. The study includes Porter’s five forces model, attractiveness analysis, commodities analysis, supply, demand analysis, competitive position grid analysis, distribution and marketing channel analysis.
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