The global plastic antioxidants market was valued at $3,020.9 million in 2018, and is projected to reach $4,962.2 million by 2026, growing at a CAGR of 6.4% from 2019 to 2026.
Antioxidants are chemicals that reduce or control the degradation process of plastics. They help in terminating the process of auto oxidation and are commonly used as plastic additives in approximately 95% of plastic products. They are categorized into five types, namely, primary antioxidants, secondary antioxidants, multi-functional antioxidants, hydroxylamines, and carbon-centered radical scavengers.
Antioxidants are plastic additives that help in eliminating plastic degradation process to extend the overall plastic lifecycle. Therefore, growth in plastic production and its resulting demand in various end-use industries is the major factor that drives the growth of this market. Plastics are cost-effective in nature as compared to other material, such as metals, for which there is a significant demand in the market to fulfill manufacturing needs. The automotive industry is shifting toward building fuel-efficient vehicles and hence manufacturers are looking for various materials to reduce the overall vehicle weight. In such condition, plastic has a proven track record that not only reduces vehicle weight but also lowers the costs over metals. As a result, plastic is highly preferred in the automotive industry; thereby, boosting the demand for plastic antioxidants. On the other hand, being crude-based product, plastic leads to few health and environmental hazards that restrains the overall market growth. Moreover, increase in use of plastic in the agriculture sector is expected to offer new growth opportunities for the market during the forecast period.
The global plastic antioxidants market is segmented on the basis of type, polymer resin, form, and region. Depending on the type, the market is fragmented into phenols, amines, phosphites, organic sulfides, antioxidant blends, and others. Depending on the polymer resin, it is categorized into polyethylene, polypropylene, polyvinyl chloride, polystyrene, acrylonitrile butadiene styrene (ABS), and others. Based on form, the market is bifurcated into solid and liquid. Region wise, the global market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major market players operating and profiled in the global plastic antioxidants market are BASF SE, SI Group, Solvay S.A., Clariant AG, Songwon, Sumitomo Chemical Co., Ltd., Dover Chemical Corporation, Everspring Chemical Co., Ltd., Amfine Chemical Corporation, and 3v Sigma USA Inc.
KEY BENEFITS FOR STAKEHOLDERS
? The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global plastic antioxidant market from 2018 to 2026 to determine the prevailing opportunities.
? A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
? Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
? Profiles of leading players operating in the market are provided to understand the global competitive scenario.
? The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
KEY MARKET SEGMENTS
- By Type
? Organic Sulfides
? Antioxidant Blends
- By Form
- By Polymer Resin
? Polyvinyl Chloride
? Acrylonitrile Butadiene Styrene
- By Region
? North America
? Rest of Europe
? South Korea
? Rest of Asia-Pacific
? Saudi Arabia
? South Africa
? South Africa
Key Market Players
- BASF SE
- SI Group
- Solvay S.A.
- Clariant AG
- Sumitomo Chemical Co., Ltd.
- Dover Chemical Corporation
- Everspring Chemical Co., Ltd.
- Amfine Chemical Corporation
- 3v Sigma USA Inc
The other players in the value chain include Omnova Solutions Inc., Oxiris Chemicals S.A., Rifra Masterbatches S.P.A, Lanxess, Krishna Antioxidants Pvt. Ltd., and others.