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The GMI Research conjectures that the Plastic Antioxidants Market will expand at a notable rate over the forecast period. This is because of their assistance to extend the shelf life of plastics, raise color deterioration, and minimize the impact of cracking.
Introduction of the Plastic Antioxidants Market
Antioxidants help prevent plastics and other materials from becoming thermal-induced tarnished. The oxidation is a chain reaction process including free radical and hydroperoxide intermediates. The antioxidants play a crucial role in the reaction process and have perceived a significant demand.
Key Players of Market:
- Everspring Chemical Co., Ltd.
- BASF SE
- ADEK CORPORATION
- SI Group, Inc
- 3V Sigma S.p.A.
- Sumitomo Chemical Co., Ltd.
- DOVER CHEMICAL CORPORATION
Plastic Antioxidants Market Dynamics
The augmenting demand for plastic antioxidants such as ABS, PP, PVC, and PE, primarily in consumer goods, building & construction, healthcare, medical, and automotive industrial sector is fuelling the growth of the global plastic antioxidants market. In addition, the growing implementation of these antioxidants in a variety of polymers such as, PVC, PV, and PE is further strengthening the market growth. Further, plastics possess high-quality electrical and mechanical features which help to improve corrosion and chemical resilience over other traditional materials.
For instance, the usage of plastics in automotive industry ameliorates performance fuel effectiveness, and safety level. Also, the air bags lodged in care are produced from sturdy polymer fabric to reduce the chances of lethal injuries during a car crash which is another factor driving the market growth. Moreover, the plastics are implemented in netting, greenhouse film covers, mulch films, and silage strap wrap as well as the utilization of polypropylene resins in indestructible sacks, hygiene stacks, and compounding has stimulated the demand for PP polymer resin, thus, paving the way for Plastic Antioxidants market growth.
Antioxidant Type Segment Drivers
The phenolic segment is contemplated to encounter an escalating growth rate over the coming years. The phenolic antioxidants are main antioxidants restraining the chain breeding by the cessation of free radical. Also, they help to safeguard plastics and other polymers from deterioration and oxidation at outrageous processing temperatures.
Polymer Resin Segment Drivers
Based on the polymer resin, polypropylene (PP) polymer is predicted to bolster at a faster compound annual growth rate during the forecast period. PP refers to a thermoplastic polymer with tertiary carbon atoms processed at a temperature ranging between 428°F and 536°F to establish molecular weight products. Further, the surging implementation of plastic antioxidants in polypropylene polymer resin, primarily in the packaging industry is driving the Plastic Antioxidants market growth.
As per the regional analysis of the market, Asia Pacific will seize a prominent market share over the coming years. The accelerating application of resins in various end-use industry verticals such as oil & gas, electronics and automotive is driving the market growth. Besides this, the oxidation and thermal resistance properties have supplemented the demand for polypropylene and polyethylene resins across the building and construction industry. Moreover, the remarkable enlargement in the construction sector primarily in India and China has propelled the market growth.
Plastic Antioxidants Market Segmentation:
Segmentation by Antioxidant Type
- Phenolic Antioxidants
- Phosphite & Phosphonite Antioxidants
- Antioxidant Blends
Segmentation by Polymer Resin
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
Segmentation by Region:
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- South Africa
- Saudi Arabia
About GMI Research
A market research and consulting organization, GMI, provides insights and research reports to various enterprises. The detailed reports serve as a helping hand for clients to formulate viable business policies and achieve long term growth. The large team of analysts and industry experts provides an all-inclusive solution including a precise forecast, factors impacting the market growth, market restraints, share, size, and other aspects to acknowledge them with the approaching challenges.