Global Market for Plastic Antioxidants Competitive Dashboard
Leading players mentioned in the MRFR’s report include SI Group, Inc(U.S.), SAKAI CHEMICAL INDUSTRY CO.,LTD(Japan), LANXESS( Germany), Krishna Antioxidants Pvt. Ltd( India), Solvay(Belgium), BASF SE(Germany), Evonik Industries AG(Germany), Shandong Linyi Sunny Wealth chemicals Co.,Ltd (China), Dover Corporation(U.S.), and Trigon Antioxidants Pvt. Ltd.( India).
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Latest Industry Trends and News
- Belgium based specialty chemical manufacturer Solvay is reportedly relocating its R&D units from Aubervilliers and Paris, France to Lyon, France. A part of the unit will be relocated to its headquarters in Brussels. The decision is aligned with its long-tern research restructuring plans.
- Evonik Industries AG has reportedly invested over $50 Mn in its Birmingham, Ala., facility during the last 4 years to expand its capabilities in biodegradable polymers space.
Global Market for Plastic Antioxidants Segmental Analysis
MRFR in its report offers a comprehensive segmental analysis of the market based on antioxidant type and polymer resin. By antioxidant, the market has been segment into antioxidant blends, phosphite & phosphonite and phenolic. The the phosphite & phosphonite segment currently accounts for the largest share of the market and is likely to retain its dominant position over 2023. This is mainly owing to the product’s high performance capability even under extreme conditions. Meanwhile, the phenolic segment is projected to witness a relatively faster growth rate over the next six years. Increased use in plastics & rubber, food and pharmaceutical manufacturing is influencing the global phenolic demand. By polymer resins, the market has been segmented into, polypropylene, polystyrene, polyethylene, acrylonitrile butadiene styrene, and polyvinylchloride. In the forthcoming years, the polypropylene and polyethylene segments are expected to exhibit a fast growth owing to their growing demand in the manufacturing sector.
America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA).
The APAC is dominating the market as several end-user industries are experiencing unprecedented expansion such as automotive, electrical & electronics, petrochemical, and oil & gas industries. India, China, and Japan are showing consumption of such product on an exceptional scale. In addition, acrylonitrile butadiene styrene resin is getting momentum in the region owing to huge traction generated by the end-users.
North America is registering a significant growth as construction, and automotive sectors are showing much consumption of polyethylene and polypropylene resins. However, the market can experience a few deterrents as the government has imposed stringent regulations on plastic antioxidants in the U.S. Meanwhile, aerospace and electronics industries are set to create more demand for the market in the U.S., Canada, and Mexico.
The European region is also ready to expand the market. Automotive, aviation, and construction sectors have fuelled the market growth by consuming more phosphate & phosphonite antioxidants. The U.K., Germany, and France are expected to play a crucial role in creating a favorable atmosphere.
The LATAM witnesses a sizeable growth owing to growing consumption of polyethylene and polypropylene resins in chemical, construction & buildings, and energy sectors. The MEA is set to register higher growth due to increasing demand for plastic antioxidants market in oil & gas, petrochemical, energy, and aviation sectors.
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Drivers and Restraints
The percolation of plastic across strata in several industries have been quite intriguing. Its utility has over the time became definitive and integral part of the production procedure of sectors such as automotive, aerospace, packaging, electronics, construction, etc. By stabilizing the shelf life of plastic products, antioxidants reduce overall costs. Furthermore, antioxidants are lightweight, offer high tensile strength, stiffness, and flexibility. These features give antioxidant the upper hand to reign the market in the foreseeable future.
However, this market has a few speed breakers. Health administrative offices have adopted stringent policies to regarding the toxicity of additives, and in many countries, use of the migratory synthetic antioxidant is prohibited where direct contact is unavoidable such as in cases regarding food packaging and medical use.
List Of Figures:
FIGURE 1 Global Plastic Antioxidants Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Plastic Antioxidants Market
FIGURE 4 Value Chain Of Global Plastic Antioxidants Market
FIGURE 5 Share Of Global Plastic Antioxidants Market In 2017, By Country (In %)
FIGURE 6 Global Plastic Antioxidants Market, 2017-2023,
FIGURE 7 Sub Segments Of Polymer Resin
FIGURE 8 Global Plastic Antioxidants Market Size By Polymer Resin, 2017
FIGURE 9 Share Of Global Plastic Antioxidants Market By Polymer Resin, 2017 To 2023
FIGURE 9 Global Plastic Antioxidants Market Size By Antioxidant Type, 2017
FIGURE 11 Share Of Global Plastic Antioxidants Market By Antioxidant Type, 2017 To 2023
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