Phenolic Antioxidant Market Research Report - Forecast to 2027

Phenolic Antioxidant Market Information: by Source (Natural and Synthetic), By Application (Food, Plastics & Rubber, Pharmaceutical, Cosmetic, Fuel & Lubricant and Other), and by Region (Asia Pacific, Europe, North America, Latin America, and Middle East &Africa,) - Forecast till 2027

ID: MRFR/CnM/2635-CR | September 2017 | Region: Global | 123 pages

Market Synopsis of Global Phenolic Antioxidant Market


Phenolic compounds are primary antioxidants, which are mainly free radical scavengers (FRS) that delay or inhibit the initiation step or interrupt the propagation step of lipid oxidation, thus, decreasing the formation of volatile decomposition products (e.g., aldehydes and ketones) that cause rancidity. The Global Phenolic Antioxidant Market is expected to grow at a CAGR of 4% to reach USD 1830.05 million till 2027. This is attributed to the growth of food and plastic & rubber industry. By source, phenolic antioxidant are characterized into natural and synthetic Phenolic Antioxidants. Among them, synthetic Phenolic Antioxidant accounts for the largest market share and it is estimated to grow at a higher CAGR of 4.60% during the forecast period. The synthetic Phenolic Antioxidants includes Butylated hydroxyanisole (BHA), Butylated hydroxytoluene (BHT), tert-Butylhydroquinone (TBHQ), and Ethoxyquin, among others. In coming years, the synthetic Phenolic Antioxidants is poised to retain dominance due to the growing demand as an additive in plastic & rubber, fuel & lubricant industry. Natural Phenolic Antioxidants are holding the least share in the Global Phenolic Antioxidant Market. The natural Phenolic Antioxidant includes flavonoids, anthocyanins, stilbenes, tanins, and phenolic acids. Phenolic Antioxidants are primarily used as preservatives and helps to prevent the oxidation of the product. Depending upon applications, the Global Phenolic Antioxidant Market is segmented into food, plastics & rubber, pharmaceutical, cosmetic, fuel & lubricant, and other industry. Food industry is the leading segment, which is growing at the highest CAGR to reach USD 433.95 million by the end of 2027. This industry is the key consumer of Phenolic Antioxidants, which is accounted for major share of the overall demand for the product. Application of Phenolic Antioxidant in the food industry for prevention of oxidation of food products is the most common among its other applications. Plastic & rubber industry is closely following the leading segment, that is food industry, wherein Phenolic Antioxidant is majorly used as an additive.


Global Phenolic Antioxidant Market Share, by Application, 2019 (%): Phenolic Antioxidant Market


Regional Analysis:


Geographically, the Global Phenolic Antioxidant Market is segmented into five key regions Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia Pacific accounted for the largest market share in 2019 and is projected to grow at the highest CAGR of 4% during the forecast period. The dominance of Asia Pacific region is mainly due to the increasing demand for food from increasing population along with growing use of plastic ad rubber in this region. Asia Pacific region is followed by Europe, which accounted for the second-largest market share and it is estimated to reach USD 420.47 million by 2027. Germany accounted the highest market share in Europe and expected to remain dominant throughout the forecast period owing to greater penetration of end user industries in the country.

North America is a significant region in the Global Phenolic Antioxidant Market. It accounted for a considerable market share of 20%, as of 2019. The US dominates the North America’s market share in terms of value and volume due to increasing demand of preserved, packaged and processed food in the country. It has been estimated that U.S would reach  North America is followed by Latin America and Middle East & Africa, which estimated to grow at moderate rate during the forecast period.

Segmentation:


The Global Phenolic Antioxidant Market is segmented on the basis of source, application, and region. On the basis of source, market is segmented into natural and synthetic. By application, the market is divided into food, plastics & rubber, pharmaceutical, cosmetic, and fuel & lubricant. Geographically, the global phenolic antioxidant market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.


Key Players:


The prominent players in the Global Phenolic Antioxidant Market are DSM (Netherlands), BASF SE (Germany), Oxiris Chemicals S. A. (Spain), Sumitomo Chemical Company (Japan), Chitec Technology Co., Ltd. (Taiwan), Mayzo Inc. (Georgia), Addivant (U.S.) Double Bond Chemical Ind., Co., Ltd. (Taiwan), Kumho Petrochemical Co., Ltd. (South Korea), Emerald Performance Materials LLC (U.S.), and others.


Key Findings:


The Global Phenolic Antioxidant Market is projected to reach USD 1830.05 million by 2027 at a CAGR of 4%. Asia Pacific is accounted for the largest share due to high penetration of food & beverages and plastic industries in the region. China is the largest market not only in Asia Pacific but also in the global market. Synthetic Phenolic Antioxidant is holding the largest share of 79% in the market. Food industry is expected to be the dominant end-user for Phenolic Antioxidant Market across all regional segments during forecast period. Pharmaceutical industry is projected to grow at a significant CAGR during the forecast period 2019-2027.


Geographic Analysis


Global Phenolic Antioxidant Market is projected to grow at a CAGR of 4% during the review period 2019-2027. Asia Pacific accounted for the largest share due to growth of major end-use industries in the region. Food industry is the dominant segment in the Global Phenolic Antioxidant Market, during forecast period.

The report covers brief analysis of geographical region includes

World

 

Asia Pacific



  • China

  • India

  • Japan

  • Rest of Asia Pacific



Europe



  • Germany

  • UK

  • Russia

  • Italy

  • France

  • Rest of Europe



North America



  • US

  • Canada



Middle East & Africa

Latin America



  • Brazil



Intended Audience



  • Manufacturers and Distributors of Phenolic Antioxidants.

  • Manufacturers and Distributors of Phenolic Antioxidants.

  • Suppliers and Traders.

  • Government, Associations and Industrial Bodies.

  • Investors and Trade Experts.

  • Consulting in Chemical Experts.



Frequently Asked Questions (FAQ) :


The global phenolic antioxidant market is estimated to create a valuation of USD 1830.05 MN by 2023, registering 5.10% CAGR throughout the assessment period (2016-2023).

Asia Pacific is the largest region in the global phenolic antioxidant market. The region is estimated to retain its leading position throughout the assessment period (2016-2023), holding the largest share.

Rising demand as an additive in plastic & rubber and fuel & lubricant manufacturing industry

The sub segment – Food by applications is the largest segment in the in the global phenolic antioxidant market. The sub segment is projected to reach a valuation of USD 433.95 MN by the end of 2023.

BASF SE (Germany), DSM (Netherlands), Oxiris Chemicals S A (Spain), Chitec Technology Co., Ltd. (Taiwan), Sumitomo Chemical Company (Japan), Mayzo Inc. (US), Double Bond Chemical Ind., Co., Ltd. (Taiwan), Addivant (US), Emerald Performance Materials LLC (US), and Kumho Petrochemical Co., Ltd. (South Korea), are some of the leading players in the global phenolic antioxidant market.