“Plastics gaining preference over conventional materials.”
The plastic antioxidants market size is estimated to be USD 2.0 billion in 2020 and is projected to reach USD 2.6 billion by 2025, at a CAGR of 5.3% between 2020 and 2025. Factors such as plastics replacing conventional materials, increasing demand in medical industry, and rapid urbanization in developing countries will drive the plastic antioxidants market. The major restraint for the market will be adverse effect on health from synthetic plastics antioxidants. However, the untapped demand in the agricultural sector of developing countries will act as an opportunity for the market.
“Phenolic antioxidant is estimated to be the largest type in 2019.”
Antioxidants are classified on the basis of their ability to interrupt the overall oxidation process. Chain breaking and preventive mechanisms are the two major antioxidant mechanisms that interfere with polymer oxidation cycles. The two classes of antioxidants identified are chain-breaking or primary antioxidants and preventive or secondary antioxidants. Primary antioxidants react rapidly and are, therefore, referred to as radical scavengers. Phenolic antioxidants are primary antioxidants, which interfere with chain propagation by terminating the free radical. They are used for plastics or polymer systems that are sensitive to thermal and oxidative degradation due to the formation of peroxides and free radicals. Phenolic antioxidants protect plastics or other polymers against degradation and oxidation at high processing temperatures.
“The PP resin is projected to account for the largest share, in terms of volume and value, of the overall plastic antioxidants market between 2020 and 2025.”
PP is a thermoplastic polymer with the presence of tertiary carbon atoms. The presence of tertiary carbon atoms makes it susceptible to oxidation and thermal degradation at high temperatures. Polypropylene is processed at temperatures between 428°F and 536°F, and under these conditions, it degrades to form low molecular weight products. Thus, antioxidants are added to PP to stabilize it. Antioxidants are added during the manufacturing process and palletizing. The commonly used antioxidant for PP is butylated hydroxyl-toluene (BHT), which is used as a primary antioxidant, and phosphite & phosphonite, used as secondary antioxidants.
“Asia Pacific is expected to be the largest plastic antioxidants market during the forecast period, in terms of value and volume.”
Asia Pacific dominated the plastic antioxidants market in 2019, It is also projected to witness the highest CAGR between 2020 and 2025. The growing population and increasing disposable income in countries such as China and India are fueling the growth of the building & construction, packaging, automotive, and other industries in Asia Pacific, thereby driving the plastics and consequently plastic antioxidants market. The region is characterized by a growing population and economic developments. The increasing population in the region, accompanied by increasing construction spending in the developing markets of China, India, and Indonesia, is projected to make this region an ideal destination for the plastic industry. This, in turn, is expected to drive the plastic antioxidants industry in the near future.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
- By Company Type: Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%
- By Designation: C-Level – 46%, Director Level – 25%, and Others – 29%
- By Region: North America – 27%, Europe – 27%, APAC – 33%, South America – 7%, and Middle East & Africa – 6%,
The key market players profiled in the report include BASF SE (Germany), Songwon (South Korea), Adeka Corporation (Japan), Solvay (Belgium), SK Capital (US), Clariant (Switzerland), Sumitomo Chemical (Japan), 3V Sigma S.p.A (Italy), and Dover Chemical Corporation (US).
Research Coverage
This report segments the market for plastic antioxidants on the basis of type, polymer resin, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for plastic antioxidants.
Reasons to buy this report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the plastic antioxidants market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on plastic antioxidants offered by top players in the global plastic antioxidants market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the plastic antioxidants market
- Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for plastic antioxidants across regions
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global plastic antioxidants market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the plastic antioxidants market
- Impact of COVID-19 on plastic antioxidants Market
