The Global Plastic Antioxidant Market Is Expected To Grow High At USD 5.27 Billion By 2027: Financial Markets

Fior Market Research LLP

Fior Market Research LLP

Plastic Antioxidants Market by Type of Antioxidants (Blends of Antioxidants, Organic Sulfides, Phosphates, Amines, Phenols), Polymer Resins (Polystyrene, Acrylonitrile Butadiene Styrene, Polyvinyl Chloride, Polypropylene, Polyethylene), Region, Global Industry Analysis, Size Market, Share, Growth, Trends and Forecast to 2027

NEWARK, NJ, May 22, 2022 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global plastic antioxidants market is expected to grow from $3.21 billion in 2019 to $5.27 billion by 2027, at a compound annual growth rate (CAGR) of 6.4% during the forecast period 2020-2027. The Asia Pacific region has the highest growth rate in the global plastic antioxidants market share. Moreover, the largest market share in global plastic antioxidants is expected to emerge during the forecast period due to increased demand from the packaging and automotive industries in this region. Moreover, rising demand from various application segments and increasing investments by private manufacturers are contributing to the growth of the Asia Pacific market.

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The major players in the global plastic antioxidants market are SI Group, Clariant AG, Sumitomo Chemical Co. Ltd. and Everspring Chemical Co. Ltd. and 3v Sigma Inc. and Oxiris Chemicals SA, Lanxess, and Krishna Antioxidants Pvt. Ltd. and BASF SE, Songwon, Amfine Chemical Corporation, Solvay SA, and Omnova Solutions Inc. and Rifra Masterbatches SPA and Dover Chemical Corporation. The major players are implementing various strategies such as agreement, business expansion and product launch to maintain competition in the market. BASF is a producer of plastic antioxidants and has pursued a different growth strategy, including development in the plastic antioxidants market. The company opened a new antioxidant manufacturing plant in Shanghai. For Irganox 1010, the company has also expanded its production capacity globally. Through regional supply points, the company aims to meet the growing demand from customers in the Middle East, Africa, Asia and Europe.

The part of the antioxidant type includes mixtures of antioxidants, organic sulfides, phosphates, amines and phenols. Blends outperform the other type of antioxidant. Mixtures of phenols and phosphates are useful in stabilizing the solubility process of many plastics. Decomposing peroxides use phosphates and thioethers. Phosphite is effective in high-temperature melt treatment processes. Whereas, in the solid phase, thioether is used at long-term use temperatures. In the oxidation process, phenols are used mainly by purifying peroxic radical intermediates. It is applicable to a wide range of temperatures, and is useful in improving the long-term thermal stability and processing of plastics.

The polymer resin segment includes polystyrene, acrylonitrile butadiene styrene, polyvinyl chloride, polypropylene and polyethylene. The polypropylene polymer resin segment holds the largest share of the plastic antioxidant market. The increasing production and consumption of polypropylene and growth in the packaging and automotive industries is driving up the demand for plastic antioxidants. The polyethylene segment is also expected to show the highest market share. It is durable and lightweight plastic. It is used as chips, plastic parts, films, and tubes in the automotive, packaging, and electronics industries. The main consumer of polyethylene is packaging. It has types such as HDPE, LLDPE and LDPE.

In polymeric polypropylene resins, plastic antioxidants are expected to be highest during the forecast period. Also, the ABS segment is also expected to show the highest growth. The plastic antioxidants market is driven by increasing disposable income, replacement of traditional materials with plastics and urbanization in emerging economies. Plastic consumption is also being increased in industries which leads to contribute to market growth.

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About the report:

The global Plastic Antioxidant market is analyzed on the basis of value (US$ Billion). All sectors were analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each sector. The report provides an in-depth analysis of the driving factors, opportunities, restraints, and challenges to gain key insight into the market. The study includes Porter’s Five Forces Model, gravity analysis, raw materials analysis, supply, demand analysis, competitor website network analysis, distribution and marketing channels analysis.

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