Description
Plastic Antioxidants Market
Plastic Antioxidants market to surpass USD 3.56 billion by 2030 from USD 2.00 billion in 2020 at a CAGR of 5.95% in the coming years, i.e., 2021-30.
Product Overview
Antioxidants are stabilizing substances that react with reactive species and decompose them, slowing the oxidation process. They prevent thermally induced oxidation of plastics and other materials. Primary antioxidants and secondary antioxidants are two types of antioxidants utilized in polymers. Varying antioxidants have different levels of reactivity as a function of temperature, and they also react with and decompose the various radical intermediates in the oxidation process, giving polymers thermal stability.
Market Highlights
Plastic Antioxidants market is expected to project a notable CAGR of 5.95% in 2030
One of the main reasons driving the market’s growth is the increasing demand for plastic antioxidants for polymer resins like PE, PP, PVC, PS, ABS, and others in sectors like automotive, consumer goods, building & construction, and medical & healthcare. Plastic antioxidants will be driven by factors such as plastics replacing traditional materials, rising demand in the medical industry, and increased urbanization in developing countries.
Recent highlights in the Plastic Antioxidants Market
In January 2019, at its Caojing location in Shanghai, China, BASF SE established a new antioxidant production factory. The facility is expected to have a capacity of 42,000 tonnes per year. It is expected to create phenolics, amines, phosphites, and mixes, among other antioxidants.
Plastic Antioxidants Market: Segments
segment to grow with the highest CAGR during 2020-30
Plastic Antioxidants Market is segmented by Type into Phenols, Amines, Phosphites, Organic Sulfides, Antioxidant Blends, and Others. Among these, the Phenols segment is expected to dominate the market in the forecast period. Phenols are known to slow the oxidation of organic materials by transferring hydrogen from their OH group to the chain that carries ROO radicals. However, the antioxidant capacity of phenols is greatly reduced prior to the transfer of hydrogen atoms by the hydrogen that absorbs solvents. Once the hydrogen bond is transferred, phenol is a strong antioxidant. It is one among the most common antioxidants used in the manufacturing of plastics. As a result, phenolic antioxidants are the most often utilized plastic additive.
Polyethylene segment to grow with the highest CAGR during 2020-30
Plastic Antioxidants Market is segmented by End-user into Polyethylene, Polypropylene, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polystyrene, and Others. Among these, the Polyethylene segment will dominate the market in the forecast period. Polyethylene is a lightweight, long-lasting plastic that is manufactured in excess of 100 million tonnes per year due to its wide range of applications. It is utilized in a variety of sectors, including packaging, automotive, electronics, and others, as films, tubes, plastic components, laminates, and other materials. In comparison to other markets, the packaging is the largest consumer of polyethylene, and its varieties, such as HDPE, LDPE, and LLDPE, account for about 35% of the market.
Market Dynamics
Drivers
Plastics gaining preference over conventional materials
Antioxidants may be located in a range of polymers, including PE, PP, and PVC. Packaging, building and construction, and automobile sectors all employ these polymers. Plastics outperform traditional materials like metals, glass, paper, and ceramics in terms of mechanical and electrical characteristics, abrasion resistance, and chemical resistance. Plastics have replaced metals, glass, paper, and ceramics in the packaging, building & construction, and automotive sectors due to continuous innovation and the demand for more lightweight materials in various industries. The market for plastic antioxidants is projected to grow as a result of this.
Restraint
Health Effects of Synthetic Plastic Antioxidants
Plastics are coated with antioxidants to preserve their structure and make them more thermally stable. Synthetic antioxidants, such as 2,6 di-tert-butyl-p-cresol (BHT), which is commonly used in polymers like PP and HDPE, however, have an adverse effect on human health. According to research, BHT produces mutations, cancers, and endocrine impacts in test animals. In humans, it also produces allergic reactions. Plastics containing antioxidants are used in a variety of home appliances, automobile parts, food packaging, and construction materials. These hazardous substances move from the plastic and into the human body. The demand for phenolic antioxidants is declining as a result of their negative health consequences.
Plastic Antioxidants Market: Key Players
A.Schulman
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Ampacet Corporation
BASF SA
Dover Chemical Corporation
Clariant
Emerald Performance Materials
Evonik Industries
3V Sigma S.P.A
Adeka Corporation
Lanxess
Everspring Chemical Co., Ltd.
Krishna Antioxidants Pvt. Ltd.
Plastic Antioxidants Market: Regions
Plastic Antioxidants Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Plastic Antioxidants market in Asia Pacific held the largest market share in the year 2019, and it is expected to grow at the fastest rate during the forecast period. Building and construction, packaging, automotive, and other sectors in Asia Pacific are developing as a result of rising disposable income in countries like China and India, which is boosting the plastics and, thus, plastic antioxidants market. A rising population and economic growth define this region. The region’s growing population, along with rising construction spending in China, India, and Indonesia’s expanding markets, is expected to make it an attractive location for the plastics industry. As a result, the plastic antioxidants business is projected to grow rapidly in the near future.
Plastic Antioxidants Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – China, Japan, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Plastic Antioxidants Market report also contains analysis on:
Plastic Antioxidants Segments:
By Type
Phenols
Amines
Phosphites
Organic Sulfides
Antioxidant Blends
Others
By Form
Solid
Liquid
By Polymer Resin
Polyethylene
Polypropylene
Polyvinyl Chloride
Acrylonitrile Butadiene Styrene
Polystyrene
Others
Plastic Antioxidants Market Dynamics
Plastic Antioxidants Market Size
Supply & Demand
Current Market Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Plastic Antioxidants Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 2.12 billion
Revenue forecast in 2030 USD 3.56 billion
Growth Rate CAGR of 5.95% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD billion and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, Form, Polymer Resin, and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled A.Schulman, Ampacet Corporation, BASF SA, Dover Chemical, Corporation, Clariant, Emerald Performance Materials, Evonik Industries, 3V Sigma S.P.A, Adeka Corporation, Lanxess, Everspring Chemical Co., Ltd., Krishna Antioxidants Pvt. Ltd. and Other Prominent Players.
Frequently Asked Questions
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