The global plastic antioxidants industry was pegged at $3.02 billion in 2018 and is expected to reach $4.96 billion by 2026, registering a CAGR of 6.4% from 2019 to 2026 Allied Market Research recently published a report, titled, “Plastic Antioxidants Market by Type (Phenols, Amines, Phosphites, Organic Sulfides, Antioxidant Blends, and Others), Form (Liquid and Solid), and Polymer Resin (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene (ABS), and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026″.
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Major motivators for market growth
Protection provided by antioxidants against thermal and oxidative degradation and promising plastic consumption have boosted the growth of the global plastic antioxidants market. However, the implementation of stringent regulatory policies hampers the market growth. On the contrary, expansion in use of agriculture plastic is expected to create lucrative opportunities in the near future.
Major market players
- SI Group
- Clariant AG
- BASF SE
- Sumitomo Chemical Co. Ltd
- Dover Chemical Corporation
- Everspring Chemical Co. Ltd
- Amfine Chemical Corporation
- 3v Sigma USA Inc
- Songwon
- Solvay S.A
Phenols segment dominated the market
Based on type, the phenols segment held the largest share in 2018, contributing to nearly two-fifths of the global plastic antioxidants market, owing to rise in the adoption of high-performance plastic. However, the phosphites segment is expected to register the fastest CAGR of 7.1% during the forecast period. As phosphites function as an extender that enhances the life cycle of the final products, which increases the growth of the segment.
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Polymer resin segment to manifest fastest CAGR through 2026
Based on polymer resin, the polypropylene segment is projected to portray the fastest CAGR of 7.1% through 2026, owing to rise in demands across the range of industries. However, the polyethylene segment held the largest share in 2018, accounting for nearly one-third of the global plastic antioxidants industry, due to rise in demands of polyethylene in the packaging industry.
North America to manifest the fastest CAGR
The market across North America is expected to manifest the fastest CAGR of 7.3% during the forecast period, owing to rise the increase in the adoption of plastic material for packaging used in various industries. On the other hand, the Asia-Pacific the market dominated in 2018, contributing to around half of the total revenue, owing to the presence of a huge consumer base i.e. established automotive and electronic & electrical industries, and stable growth in the construction industry.
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