Plastic Antioxidants Market size was valued at USD 4.2 Billion in 2021 and is projected to reach USD 9.8 Billion by 2030, growing at a CAGR of 6.76% from 2022 to 2030.
The increasing demand for plastic antioxidants for polymer resins like PE, PP, PVC, PS, ABS, and others for automotive, consumer goods, building & construction, and medical & healthcare industries and increasing urbanization are the factors driving the market growth of the Plastic Antioxidants Market. The Global Plastic Antioxidants Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that play a substantial role in the market.
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Polymers tend to decompose and deteriorate over time, affecting various physical and mechanical properties, such as flow rate, thermal stability, and molecular weight. Antioxidants have been developed to minimize the thermal oxidation of plastics. Plastic antioxidants suppress the formation of free radicals and hydroperoxide intermediates in plastics. Adding these antioxidants to the plastic will extend the life of the plastic against sunlight and heat.
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The primary factors driving the market growth are the increasing demand for plastic antioxidants for polymer resins like PE, PP, PVC, PS, ABS, and others for automotive, consumer goods, building & construction, and medical & healthcare industries. Antioxidants are used in many polymers such as PE, PP, and PVC. These plastics are used in packaging, construction, construction, and the automotive industry. Plastics have excellent mechanical and electrical properties, abrasion resistance, and chemical resistance as conventional materials such as metal, glass, paper, and ceramic. Continuous innovation of lighter materials in some industries and the need for more lightweight materials resulted in plastic, glass, paper, and ceramic in packaging, construction, construction, and the automotive industry.
This is expected to be a Plastic Antioxidants Market. Plastics have contributed to several innovations in safety, fuel efficiency, and performance in the automotive industry, especially in automotive design. For example, airbags made of high-strength polymer fabric can reduce the risk of fatal injury from direct frontal impact. Other advances include child seats, headliners, steering wheels, dashboards, fenders, fuel systems, headlight covers, and other external components directly exposed to heat and light. The health effects of these antioxidants include cancer, childhood developmental disorders, congenital disabilities, and endocrine disruptions that can lead to suppression of the immune system.
Various household appliances, automobile parts, food packaging, and building materials are made from plastics containing these antioxidants. These harmful ingredients move from plastic to the human body. Demand for phenolic antioxidants is declining due to adverse health effects that hamper the market growth of the Plastic Antioxidants Market. Plastics are used in agriculture, such as multi-films, greenhouse film covers, blinds, nets, and silage belts. Plastics used in agriculture provide high light transmission to promote plant growth. Agricultural plastics must withstand high levels of solar radiation and mechanical stress. Therefore, antioxidants are used to process agricultural plastics and provide thermal stability and discoloration resistance, providing opportunities for the market growth of the Plastic Antioxidants Market.
The Global Plastic Antioxidants Market is Segmented on the basis of Type, Polymer Resin, And Geography.
• Phenolic Antioxidants
• Antioxidant Blends
• Phosphite and Phosphonite Antioxidants
Based on Type, The market is segmented into Phenolic Antioxidants, Antioxidant Blends, Phosphite and Phosphonite Antioxidants, and Others. The Phenolic Antioxidants segment holds a large number of shares in the market because Phenolic Antioxidants are the primary antioxidants that block the propagation of chains by stopping free radicals. They are used in plastic or polymer systems that are sensitive to thermal and oxidative degradation due to the formation of peroxides and free radicals. Phenolic Antioxidants protect plastics and other polymers from deterioration and oxidation at high processing temperatures, which is the factor that boosts the market growth of the Plastic Antioxidants Market.
• Polyvinyl Chloride
Based on Polymer Resin, The market is segmented into Polypropylene, Polyvinyl Chloride, Polyethylene, and Others. The Polypropylene segment holds a large number of shares in the market because polypropylene is a thermoplastic polymer in the presence of tertiary carbon atoms. Tertiary carbons make it susceptible to oxidation and thermal decomposition at high temperatures. Polypropylene is cured at temperatures between 428°F and 536°F, and under these conditions, it decomposes to form low molecular weight products. Therefore, antioxidants are added to Polypropylene to stabilize it. Antioxidants are added during the manufacturing and handling of goods. Polypropylene’s commonly used antioxidants are butylated hydroxyl-toluene, which is the factor that boosts the market growth of the Plastic Antioxidants Market.
• North America
• Asia Pacific
• Rest of the world
On the basis of Geography, The Global Plastic Antioxidants Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia-Pacific region holds a large number of shares in the market because the increasing population and increasing disposable income in countries like China and India are driving the growth of construction and construction, packaging, automotive, and other industries. The increasing population and economic development are characteristic of the region. The region’s growing population, coupled with rising construction spending in the developing markets of China, India, and Indonesia, boosts the market growth of the Plastic Antioxidants Market.
The “Global Plastic Antioxidants Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as BASF, ADEKA Corporation, Clariant, SONGWON, Solvay, Ampacet Corporation, Dover Chemical Corporation, Sumitomo Chemical.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
• In January 2019, BASF SE opened their new antioxidants manufacturing plant in the Caojing site at Shanghai, China with a capacity of 42 KT /annum. The plant will be going to produce antioxidants and other related blends for the plastic additives market.
• In January 2019, A new manufacturing plant for antioxidants got opened in the Caojing site of Shanghai, China. The following plant is likely to get operated with an annual capacity of 42,000 tons. It is being anticipated to manufacture the different types of antioxidants like phosphites, phenolics, amines, and blends.
• In March 2019, Wells Plastics launched their Antioxidant Masterbatch system which is a very high-performance system for recycled polypropylene and polyethylene at K2019.
• In July 2018, BASF SE announced its plans for increasing the global production capacity of the plastic antioxidant Irganox 1010 by 40% with various expansion projects in Juron, Singapore, Switzerland, and Kaisten. The expansion will go to help the company in order to serve the market in Asia, Europe, and Middle East & Africa.
Value (USD Billion)KEY COMPANIES PROFILED
BASF, ADEKA Corporation, Clariant, SONGWON, Solvay, Ampacet Corporation, Dover Chemical Corporation, Sumitomo Chemical.SEGMENTS COVERED
• By Type
• By Polymer Resin
• By Geography
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