CRI Report has released a report titled “Plastic Antioxidants market – Analysis of Market Size, Share & Trends for 2020 – 2030 and Forecasts to 2030” which is anticipated to reach USD 3.56 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 5.95% between 2020 and 2030. According to the report, the market is estimated to proliferate owing to the increasing demand for plastic antioxidants for polymer resins like PE, PP, PVC, PS, ABS, and others in sectors like automotive, consumer goods, building & construction, and medical & healthcare. Plastic antioxidants will be driven by factors such as plastics replacing traditional materials, rising demand in the medical industry, and increased urbanization in developing countries.
The market report on Plastic Antioxidants market includes in-depth insights as:
- The estimated value of the market was USD 2.00 billion in the year 2020.
- Region-wise, the market in Asia Pacific which held the largest market share in the year 2020, emerged as a key market for the Plastic Antioxidants market.
- Based on Type, Phenols emerged as a key segment in the Plastic Antioxidants market.
- Based on End-User, the Polyethylene segment emerged as a key segment in the Plastic Antioxidants market.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“Antioxidants may be located in a range of polymers, including PE, PP, and PVC. Packaging, building and construction, and automobile sectors all employ these polymers. Plastics outperform traditional materials like metals, glass, paper, and ceramics in terms of mechanical and electrical characteristics, abrasion resistance, and chemical resistance. Plastics have replaced metals, glass, paper, and ceramics in the packaging, building & construction, and automotive sectors due to continuous innovation and the demand for more lightweight materials in various industries. The market for plastic antioxidants is projected to grow as a result of this.”, according to this report
Antioxidants are stabilizing substances that react with reactive species and decompose them, slowing the oxidation process. They prevent the thermally induced oxidation of plastics and other materials. Primary antioxidants and secondary antioxidants are two types of antioxidants utilized in polymers. Varying antioxidants have different levels of reactivity as a function of temperature, and they also react with and decompose the various radical intermediates in the oxidation process, giving polymers thermal stability.
Plastic Antioxidants Market is segmented by Type into Phenols, Amines, Phosphites, Organic Sulfides, Antioxidant Blends, and Others. Among these, the Phenols segment is expected to dominate the market in the forecast period. Phenols are known to slow the oxidation of organic materials by transferring hydrogen from their OH group to the chain that carries ROO radicals. However, the antioxidant capacity of phenols is greatly reduced prior to the transfer of hydrogen atoms by the hydrogen that absorbs solvents. Once the hydrogen bond is transferred, phenol is a strong antioxidant. It is one among the most common antioxidants used in the manufacturing of plastics. As a result, phenolic antioxidants are the most often utilized plastic additive.
Key Players in the Market
- Some of the key players operating in the Plastic Antioxidants market are A.Schulman, Ampacet Corporation, BASF SA, Dover Chemical, Corporation, Clariant, Emerald Performance Materials, Evonik Industries, 3V Sigma S.P.A, Adeka Corporation, Lanxess, Everspring Chemical Co., Ltd., Krishna Antioxidants Pvt. Ltd.
Get Valuable Insights into the Plastic Antioxidants market
In the new report, CRI Report thrives to present an unbiased analysis of the Plastic Antioxidants market that covers the historical demand data as well as the forecast figures for the period, i.e., 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by Type into Phenols, Amines, Phosphites, Organic Sulfides, Antioxidant Blends, Others. By Form into Solid, Liquid. By Polymer Resin into Polyethylene, Polypropylene, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polystyrene, Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.