Plastic Antioxidants Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2030

With an estimated compound annual growth rate (CAGR) of around 5.30% between 2023 and 2030, the size of the global market for plastic antioxidants is expected to increase from its estimated value of USD 2.38 billion in 2022 to USD 3.60 billion by 2030.

The study examines the factors that are driving, posing constraints or difficulties, and impacting demand for plastic antioxidants globally during the course of the projection period. The paper also looks at new developments in the plastic antioxidants market.

Global Plastic Antioxidants Market: Overview

Because they survive a long time, plastics are employed extensively. However, the polymers can degrade more quickly when subjected to hostile environments, such as exposure to specific chemicals or high temperatures. Antioxidants are added to plastics to extend their lifespan and durability. The free radical molecules that accelerate oxidation and cause damage are neutralized by antioxidants.

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Global Plastic Antioxidants Market: Growth Factors

The market for plastic antioxidants is expanding significantly on a global scale. Some of the key drivers propelling the growth of the global market are consumers' growing preference for plastic over traditional materials, the medical industry's expanding need for plastics, and the rise in the usage of plastic with antioxidants in thermoforming and automotive injection molding. Antioxidants for plastics also prevent degradation under thermo-oxidative or thermo-mechanical circumstances.

Antioxidants made of plastic prolong the product's life, preserve its strength, stiffness, and flexibility, and enhance its beauty. Furthermore, plastic antioxidant provides outstanding thermal and processing stability as well as enhanced long-term heat stability. These and other characteristics, together with the growing usage of amines, phosphites, phenolics, and various thioesters as plastic antioxidants, are encouraging.

The expanding usage of plastic in product formulation and a number of other industries, such as the automobile, electronics, packaging, and many more, are also significantly boosting the expansion of the global market. In addition, the market is expanding because of the rise in R&D and the use of plastic in the building sector. Moreover, manufacturers may have higher prospects for the expansion of the worldwide plastic antioxidants market during the projected period if they invest heavily in the development of innovative plastic goods that are less harmful to the environment. Nonetheless, possible toxicological issues with plastic antioxidants could impede the expansion of the worldwide market for plastic antioxidants.

The global market for plastic antioxidants is not growing favorably as a result of the Covid-19 epidemic. Strict lockdowns and travel restrictions across multiple nations have a detrimental effect on the major producers operating in the market. Furthermore, a decrease in the market for plastic additives was observed since the majority of industries were forced to cease operations entirely due to the pandemic. The product's supply and demand were impacted by the disruptions in the distribution and supply chains.

Global Plastic Antioxidants Market: Segmentation

Region, product type, and resin type all contribute to the fragmentation of the global market for plastic antioxidants. The global market for plastic antioxidants is divided into product categories, such as phenolic, antioxidant blends, phosphite & phosphonite, and others. The phenolic category is anticipated to hold the largest market share among them. Polystyrene, polypropylene, polyethylene, PVC (polyvinyl chloride), ABS (acrylonitrile butadiene styrene), and other resin types make up the resin type sector. Out of all of these, polypropylene is anticipated to bring in the most money throughout the course of the projection.

Global Plastic Antioxidants Market: Regional Analysis

In terms of revenue over the course of the projected period, Asia Pacific is anticipated to lead the global market for plastic antioxidants. Due to the rising need for plastics in the packaging and electronics sectors, which has increased demand for plastic antioxidants, India and China are thought to be the two main players in this market. Furthermore, the rise of the construction industry is being fueled by an increase in commercial and residential projects, which in turn is driving the growth of the market in this region. Europe's fast growing automotive sector is expected to make it the second-largest region in the market. Throughout the projected period, the market in the North American area is also anticipated to rise at a substantial rate.

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Global Plastic Antioxidants Market: Competitive Players

The major players operating in the global plastic antioxidants market are

BASF SE
Clariant, SK Capital
Solvay
Adeka Corporation
Songwon
Dover Chemical Corporation
3V Sigma S.p.A
Sumitomo Chemical
Everspring Chemical Co. Ltd.

The global plastic antioxidants market is segmented as follows:

By Product Type

Phenolic
Antioxidant Blends
Phosphite & Phosphonite
And Others

By Resin Type

LPolystyrene
Polypropylene
Polyethylene
Pvc (Polyvinyl Chloride)
Abs (Acrylonitrile Butadiene Styrene)
And Others

Global Plastic Antioxidants Market: Regional Segment Analysis

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa