According to the latest report by IMARC Group, titled “Plastic Antioxidants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global plastic antioxidants market reached a value of US$ 3.6 Billion in 2021. Antioxidants are combined with plastics to prevent the degradation caused by thermo-oxidative and thermo-mechanical conditions. Plastic antioxidants help to extend the life, enhance the appearance, and maintain the stiffness, flexibility, and strength of a product. There are several phenolics, thioesters, amines and phosphites that are used in the form of plastic antioxidants. Some of the plastic products that commonly consist of antioxidant additives include fittings and pipes in the construction and building industries, polyethylene films (PE films) for food packaging applications, and other products made from polypropylene (PP).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Plastic Antioxidants Market Trends:
The global plastic antioxidants market is mainly being driven by the escalating product demand in the production of polymer resins, including PE, PP, polyvinyl chloride (PVC), polystyrene (PS), and acrylonitrile butadiene styrene (ABS). These resins are largely used across the consumer goods, medical and healthcare, automotive, and building and construction industries. Other than this, the rising replacement of ceramics, glass, metals, and paper with lightweight materials in the packaging industry is further contributing to the growth of the market. Moreover, the lack of an economical and viable substitute of conventional plastics is currently presenting lucrative opportunities to leading players in the plastic antioxidants market. This is, in turn, fueling the market growth. Furthermore, key manufacturers are consistently innovating their product offerings through investment in research and development (R&D) activities, which is creating a positive outlook for the market. Looking forward, the market value is projected to reach US$ 5.2 Billion by 2027, expanding at a CAGR of 6.59% during 2022-2027.
- On the basis of the antioxidant type, the market has been segmented into phenolic, phosphite and phosphonite, antioxidant blends, and others.
- Based on the polymer resin, the market has been segregated into polypropylene, polyethylene, polyvinyl chloride, polystyrene, and acrylonitrile butadiene styrene.
- The market has been categorized on the basis of the form into solid and liquid.
- Based on the application, the market has been divided into packaging, construction, automotive, and others.
- On a regional basis, the market has been categorized into North America (United States, and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), and Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being 3V Sigma S.p.A., Adeka Corporation, BASF SE, Clariant AG, Dover Chemical Corporation (ICC Industries Inc.), Everspring Chemical Co. Ltd., Evonik Industries AG, Lanxess AG, LyondellBasell Industries N.V., Solvay S.A., Songwon Industrial Co. Ltd., Sumitomo Chemical Co. Ltd. and Synthomer plc.
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