Global Plastic Antioxidants Market Forecast to 2025 with BASF, Songwon, Adeka, Solvay, SK Capital, Clariant, Sumitomo Chemical, 3V Sigma, and Dover Chemical Dominating

Dublin, Dec. 17, 2020 (GLOBE NEWSWIRE) -- The "Plastic Antioxidants Market by Antioxidants Type (Phenolic, Phosphite & Phosphonite, Antioxidant Blends), Polymer Resin (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Plastic Antioxidants Market Size is Estimated to be USD 2.0 Billion in 2020 and is Projected to Reach USD 2.6 Billion by 2025, at a CAGR of 5.3% Between 2020 and 2025.

Factors such as plastics replacing conventional materials, increasing demand in the medical industry, and rapid urbanization in developing countries will drive the plastic antioxidants market. The major restraint for the market will be adverse effect on health from synthetic plastics antioxidants. However, the untapped demand in the agricultural sector of developing countries will act as an opportunity for the market.

Phenolic antioxidant is estimated to be the largest type in 2019.

Antioxidants are classified on the basis of their ability to interrupt the overall oxidation process. Chain breaking and preventive mechanisms are the two major antioxidant mechanisms that interfere with polymer oxidation cycles. The two classes of antioxidants identified are chain-breaking or primary antioxidants and preventive or secondary antioxidants. Primary antioxidants react rapidly and are, therefore, referred to as radical scavengers.

Phenolic antioxidants are primary antioxidants, which interfere with chain propagation by terminating the free radical. They are used for plastics or polymer systems that are sensitive to thermal and oxidative degradation due to the formation of peroxides and free radicals. Phenolic antioxidants protect plastics or other polymers against degradation and oxidation at high processing temperatures.

The PP resin is projected to account for the largest share, in terms of volume and value, of the overall plastic antioxidants market between 2020 and 2025.

PP is a thermoplastic polymer with the presence of tertiary carbon atoms. The presence of tertiary carbon atoms makes it susceptible to oxidation and thermal degradation at high temperatures. Polypropylene is processed at temperatures between 428F and 536F, and under these conditions, it degrades to form low molecular weight products. Thus, antioxidants are added to PP to stabilize it. Antioxidants are added during the manufacturing process and palletizing. The commonly used antioxidant for PP is butylated hydroxyl-toluene (BHT), which is used as a primary antioxidant, and phosphite & phosphonite, used as secondary antioxidants.

The Asia Pacific is expected to be the largest plastic antioxidants market during the forecast period, in terms of value and volume.

Asia Pacific dominated the plastic antioxidants market in 2019, It is also projected to witness the highest CAGR between 2020 and 2025. The growing population and increasing disposable income in countries such as China and India are fueling the growth of the building & construction, packaging, automotive, and other industries in the Asia Pacific, thereby driving the plastics and consequently plastic antioxidants market.

The region is characterized by a growing population and economic developments. The increasing population in the region, accompanied by increasing construction spending in the developing markets of China, India, and Indonesia, is projected to make this region an ideal destination for the plastic industry. This, in turn, is expected to drive the plastic antioxidants industry in the near future.

In the process of determining and verifying the market size for several segments and sub-segments identified through secondary research, extensive primary interviews were conducted.

The key market players profiled in the report include BASF SE (Germany), Songwon (South Korea), Adeka Corporation (Japan), Solvay (Belgium), SK Capital (US), Clariant (Switzerland), Sumitomo Chemical (Japan), 3V Sigma S.p.A (Italy), and Dover Chemical Corporation (US).

Market Dynamics

Drivers

• Plastics Gaining Preference Over Conventional Materials

• Rise in Demand for Medical Plastics in the Healthcare Industry

• Increase in Disposable Income and Rapid Urbanization in Developing Countries

Restraints

• Health Effects of Synthetic Plastic Antioxidants

• Compliance with Stringent Regulatory Standards

Opportunities

• Increase in Demand from Packaging and Consumer Goods

• Untapped Opportunities in the Agricultural Sector of Developing Countries

Challenges

• Development of New Products for Use in Polymers Other Than Commodity Plastics

Porter's Five Forces Analysis

Supply Chain Analysis

Price Analysis of Plastic Antioxidants

Plastic Antioxidants Market Scenarios, 2018-2025

Patent Analysis

Plastic Antioxidants: Ecosystem

Change in Industry Shift Impacting the Future Revenue Mix

Case Studies

• Case Study 1: Assessment of the Plastic Additives Market in North America

• Case Study 2: Assessment of the Flame Retardant Additives Market

COVID-19 Impact

Companies Mentioned

• 3V Sigma S.P.A

• Adeka Corporation

• Ampacet Corporation

• Astra Polymers Compounding Co. Ltd.

• BASF Se

• Clariant

• Dover Chemical Corporation

• Emerald Performance Materials

• Everspring Chemical Co., Ltd.

• Evonik Industries

• Krishna Antioxidants Pvt. Ltd.

• Lanxess

• Lyondellbasell (A. Schulman)

• Milliken & Company

• Omnova Solutions Inc.

• Oxiris Chemicals S.A.

• Rifra Masterbatches S.P.A

• Sakai Chemical Industry Co., Ltd.

• Shandong Linyi Sunny Wealth Chemicals Co., Ltd.

• SK Capital (SI Group)

• Solvay

• Songwon

• Sumitomo Chemical

• Trigon Antioxidants Pvt. Ltd.

• Wells Plastics Ltd.

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