Growing Consumption of Polymer Resin to Boost Global Plastic Antioxidants Market: Reports MRFR

Pune, India, August 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Global Plastic Antioxidants Market Research Report.

Overview:

The global market for Plastic Antioxidants Market is to grow steadfastly with a remarkable CAGR during the forecast period (2022 to 2030), asserts Market Research Future (MRFR) in a well-documented report. An essential component protecting materials from thermally induced oxidation, plastic antioxidants have found traction in various industrial spectrums and have been imbibed by them for better, cost-effective operation.

Drivers and Restraints:

The percolation of plastic across strata in several industries has been quite intriguing. Its utility has over time become a 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 antioxidants 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.

Industry Trends:

The market is experiencing a few changes in terms of both production and development. For instance, Addivant has increased their production capacity of Ultranox 626 capacity by 40%. Ultranox 800 is again saving costs for polypropylene compounders and recyclers and is offering an option for customizing stability of products. Songwon Industrial Group is focusing much on developing antioxidant blends that are tailored to perfection as per the customer’s taste.

Market Segmentation:

The global market for plastic antioxidants can be segmented by polymer resin and antioxidant type.

By polymer resin, the market can be segmented into polyethylene, polypropylene, polyvinyl chloride, polystyrene, acrylonitrile butadiene styrene. Polypropylene resin holds a significant share of the market and finds considerable utility in food packaging, heavy-duty sacks, hygiene films, compounding, and others. Acrylonitrile butadiene styrene resins are mostly used in musical instruments such as piano, recorders, and others. The compound is expected to witness the fastest market growth during the forecast period.

Based on the antioxidant type the market comprises phenolic, phosphite & phosphonite and antioxidant blends. Phosphite & phosphonite holds the dominant market share due to its ability to protect products from decay and infuse the same with better stability.

Regional Analysis:

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 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 the growing consumption of polyethylene and polypropylene resins in the chemical, construction & buildings, and energy sectors. The MEA is set to register higher growth due to increasing demand for the plastic antioxidants market in oil & gas, petrochemical, energy, and aviation sectors.

Market Dashboard:

The market is getting in neck and neck situation with various market players competing closely to stay at the top. Merger and acquisition is one old trick that is proving vital for companies to stay abreast. For instance, SK Capital has recently announced an agreement to acquire SI Group. LANXESS has acquired Solvay’s phosphorus additive business which can be considered exemplary.

Some of the prominent players operating in the global plastic antioxidants market are SI Group, Inc (U.S.), Dover Corporation(U.S.), Evonik Industries AG(Germany), Solvay(Belgium), LANXESS (Germany), Trigon Antioxidants Pvt. Ltd.( India), BASF SE(Germany), SAKAI CHEMICAL INDUSTRY CO., LTD(Japan), Krishna Antioxidants Pvt. Ltd( India), Shandong Linyi Sunny Wealth Chemicals Co., Ltd (China), among others. 

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