USD 4.02 billion
Global Plastic Antioxidants Market Size, Share, Growth Analysis, By Type(Phenolic antioxidants, phosphite antioxidants), By Application(Laboratory testing and field-testing) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2316 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
62 |
Figures:
75
Global Plastic Antioxidants Market Insights
Plastic Antioxidants Market size was valued at USD 4.02 billion in 2021 and is poised to grow from USD 4.67 billion in 2022 to USD 7.86 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).
The market is witnessing significant growth due to the increasing demand for plastic materials in various industries such as automotive, packaging, and construction. Plastic antioxidants play a crucial role in stabilizing and protecting plastics from degradation caused by heat, light, and oxidative reactions, thereby extending their lifespan and maintaining their physical properties.
The market is driven by factors such as the rising awareness regarding the importance of plastic stability, stringent regulations on plastic usage, and the growing demand for sustainable and recyclable plastic materials.
Additionally, the development of advanced antioxidant formulations and the increasing adoption of plastic antioxidants in emerging economies are further fueling market growth. However, challenges such as volatile raw material prices and the availability of alternative materials may pose restraints to the market's growth. Overall, the Global Plastic Antioxidants Market is poised for steady expansion in the coming years.
US Plastic Antioxidants Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
phenolic antioxidants
Fastest Growth
phenolic antioxidants
Growth Rate
6.4% CAGR
Global Plastic Antioxidants Market ($ Bn)
Country Share for North America Region (%)
Global Plastic Antioxidants Market By Type ($ Bn)
Global Plastic Antioxidants Market By Type (%)
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Global Plastic Antioxidants Market Segmental Analysis
The global plastic antioxidants market is segmented by type, application, and region. Based on type, the market can be segmented into phenolic antioxidants, phosphite antioxidants, amine antioxidants, and others. Based on application, the market is segmented into laboratory testing and field-testing. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Plastic Antioxidants Market Analysis by Type
Among these, the dominant sub-segment of type in the Plastic Antioxidants market is phenolic antioxidants. Phenolic antioxidants are widely used in the plastic industry due to their excellent thermal stability and effectiveness in preventing oxidation. They are effective in preventing the degradation of plastic materials caused by exposure to heat, light, and oxygen.
The fastest growing sub-segment of type in the Plastic Antioxidants market is amine antioxidants. Amine antioxidants are gaining popularity due to their high efficiency in inhibiting oxidation and providing long-term stability to plastic materials. They are particularly effective in protecting against thermal and oxidative degradation, making them suitable for applications in industries such as automotive, packaging, and construction.
Plastic Antioxidants Market Analysis by Application
The dominant sub-segment of type in the plastic antioxidants market is the laboratory testing segment. This involves conducting comprehensive tests and analysis in controlled laboratory settings to evaluate the effectiveness and performance of different antioxidant formulations on various plastic materials. Laboratory testing allows for precise measurements and observations, providing valuable insights into the antioxidant capabilities and compatibility with different types of plastics.
The fastest growing sub-segment of type in the plastic antioxidants market is the field-testing segment. Field testing involves assessing the performance of plastic antioxidants in real-world conditions, such as outdoor environments or specific industrial settings. This type of testing provides practical insights into how antioxidants perform in actual usage scenarios and helps in identifying any challenges or improvements needed. Field testing is gaining prominence as it offers a more accurate representation of the antioxidant performance in real-life applications and aids in developing customized solutions for specific industry requirements.
Global Plastic Antioxidants Market By Type, 2023 (%)
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Global Plastic Antioxidants Market Regional Insights
One dominant region in the global market is Asia-Pacific. This region has a significant presence in the market due to its large plastic manufacturing industry and the high demand for plastics across various end-use sectors such as packaging, automotive, construction, and electronics. Countries like China, India, and Japan are major contributors to the market growth in the region. The increasing industrialization, rapid urbanization, and growing population in these countries drive the demand for plastic antioxidants to enhance the durability and lifespan of plastic products.
The fastest-growing region in the global market is expected to be the Middle East and Africa (MEA). The MEA region is witnessing significant growth in the plastics industry, driven by increasing construction activities, infrastructure development, and the growing packaging industry. Additionally, the rising consumer demand for plastic products and the expanding manufacturing sector contribute to the growth of the Plastic Antioxidants market in this region. The favorable government initiatives promoting industrial growth and foreign investments in the region further support the market's expansion.
Global Plastic Antioxidants Market By Geography, 2024-2031
- Largest
- Fastest
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Global Plastic Antioxidants Market Dynamics
Plastic Antioxidants Market Drivers
Increasing Demand For Plastics
- One driver of the market is the increasing demand for plastics in various industries, such as packaging, automotive, construction, and electronics. Plastics are widely used due to their lightweight, durability, and cost-effectiveness. However, exposure to heat, light, and oxygen can cause degradation and reduce the lifespan of plastic products. Plastic antioxidants are additives that help prevent degradation and maintain the properties of plastics, thereby increasing their lifespan. The growing demand for high-quality and long-lasting plastic products drives the demand for plastic antioxidants.
Plastic Antioxidants Market Restraints
Concern Over Environmental And Health Issues
- On the other hand, a restraint of the global market is the growing concern over environmental and health issues associated with certain types of plastic antioxidants. Some traditional plastic antioxidants, such as BHT (butylated hydroxytoluene) and BHA (butylated hydroxyanisole), have been subject to regulatory scrutiny due to their potential adverse effects on the environment and human health. This has led to the development and adoption of alternative and eco-friendly plastic antioxidants. The shift towards sustainable and environmentally friendly solutions poses a challenge for the traditional plastic antioxidants market.
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Global Plastic Antioxidants Market Competitive Landscape
The global plastic antioxidants market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of plastic antioxidants. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Plastic Antioxidants Market Top Player’s Company Profiles
- Adeka Corporation (Japan)
- SI Group, Inc. (United States)
- Addivant USA LLC (United States)
- 3V Sigma S.p.A. (Italy)
- Dover Chemical Corporation (United States)
- Everspring Chemical Co., Ltd. (Taiwan)
- Emerald Performance Materials LLC (United States)
- Chitec Technology Co., Ltd. (Taiwan)
- Mayzo, Inc. (United States)
- Rianlon Corporation (China)
- Milliken & Company (United States)
- Cytec Solvay Group (Belgium)
- Everlight Chemical Industrial Corporation (Taiwan)
- Oxiris Chemicals S.A. (Greece)
- Lanxess AG (Germany)
- SONGWON Industrial Group (South Korea)
- Sumitomo Chemical Co., Ltd. (Japan)
Plastic Antioxidants Market Recent Developments
- In June 2023, Siemens Energy and AES Corporation announced a collaboration to develop a 1.6 GW energy storage project in California, United States. The project, named "Dispatchable Renewable Generation over Water" (DRGOW), aims to provide grid stability and enhance renewable energy integration.
- In April 2023, Italian energy company Eni signed an agreement with Cassa Depositi e Prestiti (CDP) to develop a 100 MW floating solar power plant in Italy's Sicily region.
Global Plastic Antioxidants Key Market Trends
- One key market trend in the global Plastic Antioxidants market is the growing demand for sustainable and eco-friendly solutions. With increasing environmental concerns and regulations, there is a rising preference for plastic antioxidants that offer improved sustainability and reduced environmental impact. Manufacturers are focusing on developing innovative antioxidant solutions that are derived from renewable sources, such as natural extracts or biodegradable materials. Additionally, there is a growing emphasis on the use of recyclable and biodegradable plastics, which require effective antioxidant additives to enhance their durability and lifespan. This trend reflects the industry's commitment to addressing environmental challenges and promoting the development of more sustainable plastic antioxidant solutions.
Global Plastic Antioxidants Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global Plastic Antioxidants market is experiencing steady growth, driven by the increasing demand for plastics in various industries such as automotive, packaging, and construction. Plastic antioxidants are additives used to enhance the performance and longevity of plastic materials by protecting them from degradation caused by heat, light, and oxidation. The market is witnessing a surge in demand due to the rising awareness about the benefits of using plastic antioxidants to improve the durability and stability of plastic products. Additionally, stringent regulations regarding the use of plastics and the growing focus on sustainable materials are also contributing to market growth. Key players in the industry are investing in research and development to develop innovative and eco-friendly plastic antioxidant solutions to cater to the evolving needs of end-users.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.02 billion |
| Market size value in 2031 | USD 7.86 billion |
| Growth Rate | 6.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Plastic Antioxidants Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Plastic Antioxidants Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Plastic Antioxidants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Plastic Antioxidants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Plastic Antioxidants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Plastic Antioxidants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Plastic Antioxidants Market Report Snapshots
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