The India petrochemical antioxidants market size reached 14.9 Million Metric Tons in 2022. Looking forward, IMARC Group expects the market to reach 21.2 Million Metric Tons by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Petrochemical antioxidants refer to a group of chemicals that are added to fuels and lubricants to prevent oxidation. Some of the common product variants include antioxidant 1010, antioxidant 168, and antioxidant 1076. Petrochemical antioxidants are primarily used to mitigate oxidative degradation that may lead to gum formation, discoloration, and reduced adhesion in gasoline, polymers, and resins, respectively. In India, these antioxidants are widely adopted across diverse industries, such as oil and gas, automotive, paints and coatings, etc.
The increasing utilization of petrochemical antioxidants in the production of numerous essential chemicals, such as polyethylene, polypropylene, polyvinyl chloride, etc., is driving the market growth in the country. These chemicals are extensively used for various applications, including polymer formation, rubber processing, oil refining, etc. Moreover, the rising demand for natural and synthetic tackifier resins is also propelling the usage of petrochemical antioxidants for maintaining their adhesive properties. Apart from this, the growing adoption of petrochemical antioxidants for preventing thermo-oxidative degradation in carbon-based substrates is further augmenting the market growth in India. Moreover, the expanding oil and gas industry in the country is also bolstering the need for high-grade additives, such as petrochemical antioxidants, to control fouling of various production and processing equipment. In line with this, the rising usage of gasoline and jet fuel across the automotive and aviation sectors is further catalyzing the demand for petrochemical antioxidants to provide better fuel stability and improved efficiency. Additionally, the emergence of low-density polyethylene, which is used in mulch films, greenhouse film covers, netting, etc., will continue to drive the market for petrochemical antioxidants in India over the forecast period.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the India petrochemical antioxidants market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on product type and end use.
Breakup by Product Type:
- Antioxidant 1010
- Antioxidant 168
- Antioxidant 1076
Breakup by End Use:
- Polyvinyl Chloride
- Acrylonitrile Butadiene Styrene
- Plastic Compounding
- Other Polymers
The competitive landscape of the industry has also been examined with some of the key players being Adeka India Pvt. Ltd (ADEKA Corporation), BASF India Limited (BASF SE), HPL Additives Limited, Lanya Chemical (India) Pvt. Ltd., SONGWON Specialty Chemicals India Pvt Ltd. and Veeral Additives Private Ltd.
|Base Year of the Analysis
||Million Metric Tons
||Product Type, End Use
||Adeka India Pvt. Ltd (ADEKA Corporation), BASF India Limited (BASF SE), HPL Additives Limited, Lanya Chemical (India) Pvt. Ltd., SONGWON Specialty Chemicals India Pvt Ltd. and Veeral Additives Private Ltd.
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Key Questions Answered in This Report:
- How has the India petrochemical antioxidants market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the India petrochemical antioxidants market?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the India petrochemical antioxidants industry?
- What are the key driving factors and challenges in the India petrochemical antioxidants industry?
- What is the structure of the India petrochemical antioxidants industry and who are the key players?
- What is the degree of competition in the India petrochemical antioxidants industry?