By Antioxidant Type (Antioxidant Blend, Organic Sulfide, Phosphite, Amine, Phenol), Polymer Resin (Polystyrene, Acrylonitrile Butadiene Styrene, Polyvinyl Chloride, Polypropylene, Polyethylene), Region , Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast to 2027
Newark, NJ, May 22, 2022 (GLOBE NEWSWIRE) — The global plastic antioxidants market is expected to grow from $3.21 billion in 2019 to $5.27 billion in 2027, at a CAGR of 6.4, according to a report published by Fior Markets Percentage for the forecast period 2020-2027. Asia Pacific is the fastest growing region in the global plastic antioxidant market share. Furthermore, the global plastic antioxidants are expected to show the largest market share over the forecast period owing to increasing demand from packaging and automotive industries in the region. Furthermore, increasing demand in various application segments and increasing investments by private manufacturers are driving the growth of the Asia Pacific market.
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The key players in the global plastic antioxidants market are SI Group, Clariant AG, Sumitomo Chemical Co. Ltd., Everspring Chemical Co. Ltd., 3v Sigma Inc., Oxiris Chemicals SA, Lanxess, Krishna Antioxidants Pvt. Ltd., BASF SE, Songwon, Amfine Chemical Corporation, Solvay SA, Omnova Solutions Inc., Rifra Masterbatches SPA and Dover Chemical Corporation. Major players are implementing various strategies such as agreements, business expansion, and product launches to maintain competition in the market. BASF is a producer of antioxidants for plastics and has pursued different growth strategies, including developing the market for antioxidants in plastics. The company opened a new antioxidant production plant in Shanghai. For Irganox 1010, the company has also expanded production capacity globally. From its regional supply point, the company aims to meet growing demand from customers in the Middle East and Africa, Asia and Europe.
The antioxidant type section includes antioxidant mixtures, organosulfides, phosphites, amines, and phenols. The mixture is superior to other types of antioxidants. Mixtures of phenols and phosphites are beneficial for the stability of the melting process of many plastics. Decomposition of hydroperoxides uses phosphites and sulfides. Phosphites are effective in melt processing operations at high temperatures. In the solid phase, thioethers are used at long-term use temperatures. In the oxidation process, phenols are mainly used to scavenge peroxy radical intermediates. It is suitable for a wide temperature range, which is beneficial to improve the long-term thermal stability and processability of plastics.
The polymer resin portion includes polystyrene, acrylonitrile butadiene styrene, polyvinyl chloride, polypropylene and polyethylene. The polypropylene polymer resin segment holds the largest share in the plastic antioxidants market. Growth in polypropylene production and consumption along with growth in packaging and automotive industries is driving the demand for antioxidants in plastics. The polyethylene segment is also expected to show the highest market share. It is a durable and lightweight plastic. It is used as laminates, plastic parts, films, tubes in the automotive, packaging and electronics industries. The main consumer of polyethylene is packaging. It comes in types such as HDPE, LLDPE and LDPE.
Among polypropylene polymer resins, plastic antioxidants are expected to be the highest during the forecast period. In addition, the acrylonitrile butadiene styrene polymer resin segment is also expected to show the highest growth. The plastic antioxidant market is driven by increasing disposable income, replacement of traditional materials with plastics, and urbanization in emerging economies. Furthermore, the increase in plastic consumption in the industry is contributing to the growth of the market.
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About the report:
Analysis of the Global Antioxidant for Plastics Market in terms of value (USD Billion). All segments are analyzed on a global, regional and country basis. The study includes analysis of over 30 countries in each market segment. The report provides an in-depth analysis of drivers, opportunities, constraints and challenges to gain key insights into the market. Research content includes Porter’s Five Forces Model, Attraction Analysis, Raw Material Analysis, Supply and Demand Analysis, Competitor Positioning Grid Analysis, Distribution and Marketing Channel Analysis.
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