Plastic Antioxidants Market Research Report- Forecast to 2030

Plastic Antioxidants Market Research Report Information by Polymer Resin (Polyethylene, Polypropylene, Polyvinylchloride, Polystyrene, Acrylonitrile Butadiene Styrene), Antioxidants Type (Phenolic, Phosphite & Phosphonite, Antioxidant Blends) ‚Äď Forecast till 2030

ID: MRFR/CnM/3361-HCR | 137 Pages | Author: Priya Nagrale | February 2024         

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Plastic Antioxidants Market

Plastic Antioxidants Market is expected to reach USD 5.27 billion by 2027and register a CAGR of 6.50% during the forecast period of 2020 to 2027

Segmentation
By Polymer Resin Polyethylene Polypropylene Polyvinylchloride Polystyrene Acrylonitrile Butadiene Styrene
Antioxidants Type Phenolic Phosphite & Phosphonite Antioxidant Blends
Key Players
Companies Profiled   BASF SE(Germany)   Solvay(Belgium)   SI Group Inc(U.S.)   Dover Corporation(U.S.)   Evonik Industries AG(Germany)   LANXESS( Germany)   Trigon Antioxidants Pvt.Ltd.( India)   Krishna Antioxidants Pvt.Ltd( India)
Drivers
Market Driving Forces    Its growing use in food packaging    heavy duty sacks    hygiene films    compounding    and others.
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Plastic Antioxidants Market Overview


The Plastic Antioxidants Market Size is expected to grow USD 5.57 billion at a CAGR of 6.50% during the forecast period. Antioxidants in plastics are used to protect materials from heat oxidation. The constituents in these inhibitors include phenolic or phosphite & phosphonite. They have high tensile strength, anti-aging properties, and impact resistance. These inhibitors are used to improve the equipment's durability and function. They are employed in a variety of industries, including aerospace, automobile, coil, petrochemicals, and others, because of these features.


Plastic antioxidants are widely used because of their lightweight, low cost, and great performance properties. Polyethylene resins are utilized to provide product protection as well as improved barrier protection. Plastics used in agriculture have a high light transmission rate, which helps plants develop faster. Agricultural plastics must tolerate high levels of solar radiation as well as mechanical stress. Antioxidants are utilized in agricultural plastics to enhance processing and thermal stability as well as discoloration resistance.


The Global Plastic Antioxidants Market Share by Polymer Resin:Plastic Antioxidants Market


Regional Analysis


The Plastic Antioxidants Market is segmented across five regions in the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing demand for polymer in automotive, electrical & electronics, petrochemical and oil & gas industries. The acrylonitrile butadiene styrene resin segment is predicted to witness a rapid growth in the market, due to its growing consumption in end use industries. Owing to these factors, countries such as China, Japan and India are the major players in the market.


The North American region is growing significantly in the market due to the increasing demand for polyethylene and polypropylene resins in construction and buildings and automobile sectors. It is predicted that the rising awareness and regulations proposed by the government is set to drive the inhibitors market during the forecast period. The growing demand of protection coatings in aerospace, electronics industries has propelled the countries such as the U.S., Canada and Mexico to achieve a stunning growth in the market.


European market has also observed a remarkable growth in the market due to the increasing adoption of phosphate & phosphonite inhibitor in automotive, aviation, construction and buildings industries. It is estimated that the growing innovation and technological advancement has propelled the countries such as the U.K., Italy, Germany and France to observe a notable growth in the market during the forecast period.


The Latin American region is estimated to witness a recognized development in the market due to growing consumption of polyethylene and polypropylene resins in chemical, construction & buildings, and energy sectors. Moreover, the Middle East & Africa is anticipated to witness a higher growth in the market due to increasing demand for plastic antioxidants market in oil & gas, petrochemical, energy and aviation sectors.


Segmental Analysis


The Global Plastic Antioxidants Market is segmented into polymer resin and antioxidants type. On the basis of polymer resin, the market is further categorized into polyethylene, polypropylene, polyvinylchloride, polystyrene, and acrylonitrile butadiene styrene. Among these, the acrylic resin segment holds a majority of the market share due to extraordinary features offered by the product such as tensile strength, stiffness, ductility. The polyethylene and polypropylene segments are projected to witness a rapid growth due to its growing consumption in heavy end use industries. The market by antioxidants type is further categorized into phenolic, phosphite & phosphonite, antioxidant blends. Among these, the phosphite & phosphonite segment is accounted for major share in the market due to its ability to function effectively at high temperature processing applications. The phenolic antioxidants segment is estimated to witness a higher growth in the market due to its growing consumption in end-use industries such as food, plastics & rubber, pharmaceutical, and others.


Key Players


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


Geographical Analysis


The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. 


Recent Development



  • BASF opened the second phase of its new antioxidant manufacturing factory in Shanghai, China, in December 2019, to support the country's fast-growing antioxidants market.

  • CYASORB CYNERGY B878T for building & construction and CYASORB CYNERGY M535 for injection and blow molding applications were introduced by Solvay in 2018. This product introduction bolstered Solvay's plastic additives product lineup, which is likely to grow in popularity soon.

  • The rising application of phosphate and phosphonite inhibitors in the automotive, aviation, construction, and building industries has resulted in a significant increase in the European market.

  • Growing innovation and technological improvement are expected to lead countries like the United Kingdom, Italy, Germany, and France to see significant market expansion over the projection period.

  • The increased consumption of polyethylene and polypropylene resins in the chemical, construction, building, and energy sectors is expected to drive market growth in the Latin American region.


Recent Development


June 2023: Eastman Chemical Company announced the expansion of its production capacity for HALS. The expansion is part of Eastman's commitment to meet the growing demand for HALS in the plastics market.


July 2023: Lanxess announced the launch of its new range of hindered phenol stabilizers (HPS) for plastics. The new HPS are designed to provide enhanced protection against thermal oxidation, making them ideal for use in high-temperature applications, such as automotive parts and electrical insulation.



Intended Audience



  • Plastic Antioxidants Market Manufacturers

  • Traders and Distributors of Plastic Antioxidants Market

  • Production Process Industries

  • Potential Investors

  • Raw Material Suppliers

  • Nationalized Laboratory 

Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : Significant value
¬†¬†CAGR ¬†¬†2022‚Äď2030: 6.50% CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
¬†¬†Report Coverage ¬†¬†Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered By Type, By Application, By End-User Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW) Key Vendors Becton, Dickinson and Company, Sunphoria Co. Ltd., Narang Medical Limited, CML Biotech, Bio ‚Äď X, Labtech Disposables, Hebei Xinle Sci &Tech Co., Ltd., Greiner Bio-One International, Biosigma, Medtronic plc., Terumo Key Market Opportunities Blood tests are carried out for diagnosis of various diseases such as diabetes, HIV, anemia, and cardiovascular diseases, among others which are expected to boost the market growth for vacuum blood collection tubes Key Market Drivers Growing investments in vacuum blood collection devices Increasing blood transfusion increasing adoption of blood collection devices.
  Segments Covered   By Polymer Resin, Antioxidants Type and Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE(Germany), Solvay(Belgium), SI Group, Inc(U.S.), Dover Corporation(U.S.), SAKAI CHEMICAL INDUSTRY CO.,LTD(Japan), Evonik Industries AG(Germany), LANXESS( Germany), Trigon Antioxidants Pvt. Ltd.( India), Krishna Antioxidants Pvt. Ltd( India), Shandong Linyi Sunny Wealth chemicals Co.,Ltd (China), among others.
  Key Market Opportunities   Excellent tensile strength, anti-ageing with impact resistance.
  Key Market Drivers   Its growing use in food packaging, heavy duty sacks, hygiene films, compounding, and others.




Frequently Asked Questions (FAQ) :

Plastic antioxidants offer great protection against thermally induced oxidation. Excellent tensile strength and anti-ageing & impact resistance that these materials offer drive their applications across the major industries.

Plastic antioxidants find their major applications in aerospace, automotive, and petrochemicals industries.

Asia Pacific holds the largest share in the global plastic antioxidants market followed by North America and Europe, respectively.

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global Plastic antioxidants market adopt to gain a larger competitive advantage.

Solvay(Belgium), BASF SE(Germany), SI Group, Inc. (US), Sakai Chemical Industry Co., Ltd. (Japan), Dover Corporation(US), Evonik Industries AG(Germany), Trigon Antioxidants Pvt. Ltd.(India), LANXESS(Germany), Krishna Antioxidants Pvt. Ltd.(India), and Shandong Linyi Sunny Wealth Chemicals Co., Ltd (China), are some of the leading players in the global plastic antioxidants market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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