The substitute of traditional materials with plastics and the growing need for polypropylene are the key factors driving the need for plastic antioxidants. On the flip side, the main constraints hindering business development are tight restrictions levied on plastic use and unfavourable circumstances emerging due to the COVID-19 outbreak.
Adroit Market Research study on the global market for plastic antioxidants offers a holistic view of the industry from 2020 to 2028 as forecast period, including factors such as market drivers, limitations, opportunities, threats and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2020 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players on the basis of their product range, regional presence, strategic initiatives and overall sales. Prominent players in the global composite resin market have been analyzed in depth.
It is expected that growing acrylonitrile butadiene styrene applications in various sectors, such as electrical and electronics, household appliances and vehicles, would bring various lucrative opportunities for business development. Polymer resin is expected to lead the demand for plastic antioxidants in the polypropylene sector because of its resistance to oxidation and thermal degradation.
Plastic antioxidants are chemicals that are added to prevent thermal and oxidation deterioration during plastic processing, and they help improve the shelf life of items. Due to the growing usage of polypropylene in packaging applications, which is expected to drive the industry, the use of plastic antioxidants in polypropylene polymer resin has the highest consumption in the global market.
The Asia-Pacific region is projected to dominate the demand for plastic antioxidants over the coming years. In countries such as China and India, the region's market for plastic antioxidants has been growing due to the increasing use of multiple resins in various end-user industries, such as electrical and electronics, automobile, oil and gas.
By moving hydrogen atoms from their OH group to the chain that holds ROO radical, the phenolic antioxidant form decreases the rate of oxidation of organic matter, since it is commonly used as a plastic additive in polyolefin and other types of plastic. Due to high tensile strength, stiffness, and ductility, acrylonitrile butadiene styrene resin is predicted to undergo substantial growth.
key players of global plastic antioxidants market report include- BASF SE, Solvay, SONGWON, SI Group Inc., Adeka Corporation, SK Capital, Clariant, Sumitomo Chemical, 3V Sigma S.p.A, and Dover Chemical Corporation and Clariant.
Key Segments of the Global Plastic Antioxidants Market
Type Overview, 2018-2028 (USD Million)
- Phosphite & Phosphonite
Polymer Resin Method, 2018-2028 (USD Million)
Application 2018-2028 (USD Million)
- Other Applications
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America