Plastic Antioxidants Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2030

Plastic Antioxidants Industry Prospective:

The global plastic antioxidants market size was worth around USD 2.38 Billion in 2022 and is predicted to grow to around USD 3.60 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.30% between 2023 and 2030.

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The report analyzes the global plastic antioxidants market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the plastic antioxidants industry. 

Global Plastic Antioxidants Market: Overview

Plastics are widely used because of their longevity. But when the polymers are exposed to harsh conditions such as exposure to certain chemicals or extreme heat, they can break down faster. To increase the lifespan and durability of plastics, antioxidants are added to the plastics. Antioxidants neutralize the free radical molecules that speed up oxidation and lead to damage.

Global Plastic Antioxidants Market:  Growth Factors

The global plastic antioxidants market is growing at a significant rate. Growing preference towards plastic over conventional materials, growing demand for plastics in the medical industry, and increase in the use of plastic with antioxidants in thermoforming & automotive injection molding are some of the major factors that are driving the growth of the global market. Further, plastic antioxidants inhibit the process of degradation under thermo-oxidative or thermo-mechanical conditions.

Plastic antioxidants extend the product's life and maintain its flexibility, stiffness & strength as well as improve its appearance. In addition to this, plastic antioxidant offers improved long-term heat stability and excellent thermal & processing stability. All such factors coupled with an increase in the use of several thioesters, phosphites, phenolics, and amines as antioxidants for plastics are fostering the growth of the global plastic antioxidants market.

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In addition to this, the growing use of plastic in product formulation and several industries including automotive, electronics, packaging, and many more are also majorly contributing to the growth of the global market. Moreover, the increase in R&D activities and adoption of plastic in the construction industry is fueling the growth of the market. Furthermore, heavy investment by the manufacturers to develop novel plastic products that are less toxic to nature may have better opportunities for the growth of the global plastic antioxidants market over the forecast period. However, potential toxicological problems related to plastic antioxidants may hinder the growth of the global plastic antioxidants market.

The Covid-19 pandemic has adverse effects on the growth of the global plastic antioxidants market. Strict lockdown and restriction on movement across several countries have a negative impact on the key manufacturers functioning in the market. In addition to this, a decline in the demand for plastic additives was been witnessed as most of the industries had to shut down all their operations during the pandemic. The disruption in the supply chain and distribution chain also affected the supply demand of the product.

Global Plastic Antioxidants Market: Report Scope

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Global Plastic Antioxidants Market: Segmentation

The global plastic antioxidants market is fragmented based on product type, resin type, and region. Based on the product type, the global plastic antioxidants market is categorized based on phenolic, antioxidant blends, phosphite & phosphonite, and others. Among these, the phenolic segment is expected to account for the major share in the market. The resin type segment consists of polystyrene, polypropylene, polyethylene, PVC (Polyvinyl Chloride), ABS (Acrylonitrile butadiene Styrene), and others. Among these, polypropylene is predicted to generate the highest revenue during the forecast period.

Global Plastic Antioxidants Market: Regional Analysis

Asia Pacific is expected to dominate the global plastic antioxidants market in terms of revenue during the forecast period. India & China are estimated to be the major players in this region owing to the increase in demand for plastics in the electronics and packaging industries thereby leading to the surge in the demand for plastic antioxidants. In addition to this, an increase in commercial and residential projects is leading to the expansion of the construction industry which is also ultimately spurring the growth of the market in this region. Europe is anticipated to be the second-largest region in the market owing to the rapidly expanding automotive sector. The market in North American region is also expected to grow at a significant rate during the forecast period.

Global Plastic Antioxidants Market: Competitive Players

The major players operating in the global plastic antioxidants market are

• BASF SE
• Clariant, SK Capital
• Solvay
• Adeka Corporation
• Songwon
• Dover Chemical Corporation
• 3V Sigma S.p.A
• Sumitomo Chemical
• Everspring Chemical Co. Ltd.

The global plastic antioxidants market is segmented as follows:

By Product Type

• Phenolic
• Antioxidant Blends
• Phosphite & Phosphonite
• And Others

By Resin Type

• LPolystyrene
• Polypropylene
• Polyethylene
• Pvc (Polyvinyl Chloride)
• Abs (Acrylonitrile Butadiene Styrene)
• And Others

Global Plastic Antioxidants Market: Regional Segment Analysis

• North America

  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.