Global Plastic Antioxidants Market Size Worth USD 8.93 Billion By 2033 | CAGR of 5.38%
Category: Chemicals & MaterialsGlobal Plastic Antioxidants Market Size Worth USD 8.93 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Plastic Antioxidants Market Size is Expected to Grow from USD 5.29 Billion in 2023 to USD 8.93 Billion by 2033, at a CAGR of 5.38% during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 210 pages with 115 Market data tables and figures & charts from the report on the "Global Plastic Antioxidants Market Size, Share, and COVID-19 Impact Analysis, By Antioxidant Type (Phenolic, Phosphite & Phosphonite, Antioxidant Blends, Amines, and Others), By Resin Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene, and Others), By Application (Automotive, Food & Beverages, Pharmaceuticals, Construction, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Detailed Report Description Here:https://www.sphericalinsights.com/reports/plastic-antioxidants-market
The plastic antioxidants market refers to the industry that produces and distributes antioxidants for plastics. Plastic antioxidants are additives used to improve the durability and performance of plastics by preventing them from degrading due to oxidation. Rapid industrialization and infrastructure development in emerging economies as well as industry partnerships and collaborations are encouraging innovation and making it possible to provide cutting-edge antioxidant solutions that are suited to particular uses and consumer needs. The rising demand for plastic antioxidants in end-use industries including automotive, packaging, construction, electronics, medical & healthcare, and consumer goods is driving the market demand. Further, the inclination towards sustainability and preference for bio-based and recyclable antioxidants significantly contribute to propelling the market. On the contrary, the fluctuation in raw material prices and the availability of alternative products are challenging the plastic antioxidants market.
The phenolic segment dominated the market with a revenue share of 40.42% in 2023 and is anticipated to witness a significant CAGR growth during the projected timeframe.
Based on the antioxidant type, the plastic antioxidants market is classified into phenolic, phosphite & phosphonite, antioxidant blends, amines, and others. Among these, the phenolic segment dominated the market with a revenue share of 40.42% in 2023 and is anticipated to witness a significant CAGR growth during the projected timeframe. Because of its ability to prevent oxidative deterioration, phenolic antioxidants are widely employed in industries such as food & beverage, polymers, rubber, and medicine.
The polyethylene segment dominated the market with the largest revenue share of 34.73% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the resin type, the plastic antioxidants market is classified into polyethylene, polypropylene, polyvinyl chloride, polystyrene, acrylonitrile butadiene styrene, and others. Among these, the polyethylene segment dominated the market with the largest revenue share of 34.73% in 2023 and is expected to grow at a significant CAGR during the forecast period. Polyethylene is a polymer that is commonly used due to its remarkable resilience, which improves performance and durability. The widespread application of polyethylene in the packaging industry is significantly driving the market in the polyethylene segment.
The food & beverages segment accounted for the largest revenue share of over 37.04% in 2023 and is anticipated to grow at a significant CAGR through the forecast period.
Based on the application, the plastic antioxidants market is classified into automotive, food & beverages, pharmaceuticals, construction, and others. Among these, the food & beverages segment accounted for the largest revenue share of over 37.04% in 2023 and is anticipated to grow at a significant CAGR through the forecast period. To keep food safe and prolong its shelf life, plastic antioxidants are employed in food and beverage packaging. The consumer's growing preference for environmentally friendly and sustainable packaging is driving the market demand.
North America is estimated to hold the largest share of the plastic antioxidants market over the forecast period.
Get more details on this report -
North America is estimated to hold the largest share of the plastic antioxidants market over the forecast period. The stringent regulations and laws about product safety and environmental sustainability are propelling the market demand for plastic antioxidants. The robust manufacturing sector especially in the automotive, packaging, and consumer goods industries is contributing to driving the plastic antioxidants market.
Asia Pacific is predicted to grow at the fastest CAGR in the plastic antioxidants market over the forecast period. The automotive industry is a major consumer of plastic antioxidants, thus the demand for them is contributing to driving the market for plastic antioxidants. According to the International Organization of Motor Vehicle Manufacturers, Asia Pacific is the center of the world's automobile industry, with China alone producing one-third of the world's automobiles.
Major key players in the global plastic antioxidants market include BASF SE, 3V Sigma USA, Dover Chemical Corporation, Lanxess AG, Syensqo, Clariant AG, SONGWON. SI Group, Astra Polymers, Tosaf Compounds Ltd., Avient Corporation, Andeka Corporation, Ampacet Corporation, Eastman Chemical Company, Evonik Industries, Milliken & Company, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In December 2023, BASF launched Irgastab PUR 71, a cutting-edge antioxidant that improves regulatory compliance and performance for polyols and polyurethane foams. This premium solution has been formulated without aromatic amine, effectively addressing the limitations of conventional anti-scorch additives.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the plastic antioxidants market based on the below-mentioned segments:
Global Plastic Antioxidants Market, By Antioxidant Type
- Phenolic
- Phosphite & Phosphonite
- Antioxidant Blends
- Amines
- Others
Global Plastic Antioxidants Market, By Resin Type
- Polyethylene
- Polypropylene
- Polyvinyl Chloride
- Polystyrene
- Acrylonitrile Butadiene Styrene
- Others
Global Plastic Antioxidants Market, By Application
- Automotive
- Food & Beverages
- Pharmaceuticals
- Construction
- Others
Global Plastic Antioxidants Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?