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2019

Plastic Antioxidants Market

Plastic Antioxidants Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Phenols, Amines, Phosphites, Organic Sulfides, Antioxidant Blends, and Others), Form (Liquid and Solid), and Polymer Resin (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene (ABS), and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026

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Author's: Krunal Yeware | Eswara Prasad
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The global plastic antioxidants market was valued at $3,020.9 million in 2018, and is projected to reach $4,962.2 million by 2026, growing at a CAGR of 6.4% from 2019 to 2026. Antioxidants are additives used during plastic production. They are added to plastic to eliminate degradation processes caused by thermo-mechanical as well as thermo-oxidative conditions. Antioxidants help in extending the life cycle of plastic, increase color deterioration, offer tensile strength and elongation, reduced impact resistance, cracking, and other surface deterioration. Primary antioxidants and secondary antioxidants are the two major categories of plastic antioxidants, and plastic made from primary type is often combined with secondary to produce thermally stable plastic products. In addition, a combination of primary and secondary antioxidants provides additional processing stability during plastic production.

The global plastic antioxidants market is in the growth phase in its industry life cycle and is expected to continue growing in a similar phase during the forecast period. These antioxidants are used in plastic production that eliminate the plastic degradation process. Furthermore, growth in use of plastic consumption also boosts the demand for plastic antioxidants. The plastic antioxidants market is expected to grow significantly during the next few decades, owing to unavailability of a perfect and economically viable substitute for plastic introduced in the market. On the other hand, implementation of stringent regulatory policies are expected to restrain the plastic antioxidants market growth.    

Global Plastic Antioxidants market

The global plastic antioxidants market is segmented on the basis of type, polymer resin, form, and region. Depending on the type, the plastic antioxidants market is fragmented into phenols, amines, phosphites, organic sulfides, antioxidant blends, and others. Depending on the polymer resin, it is categorized into polyethylene, polypropylene, polyvinyl chloride, polystyrene, acrylonitrile butadiene styrene (ABS), and others. Based on form, the market is bifurcated into solid and liquid. Region wise, the global market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The plastic antioxidants market share has been analyzed across all segments and regions.

Some of the major market players operating and profiled in the global plastic antioxidants market are BASF SE, SI Group, Solvay S.A., Clariant AG, Songwon, Sumitomo Chemical Co., Ltd., Dover Chemical Corporation, Everspring Chemical Co., Ltd., Amfine Chemical Corporation, and 3v Sigma USA Inc.

The other players in the value chain of the market include Omnova Solutions Inc., Oxiris Chemicals S.A., Rifra Masterbatches S.P.A, Lanxess, Krishna Antioxidants Pvt. Ltd., and others. The key players are adopting numerous strategies such as product launch, agreement, and business expansion to stay competitive in the market. 

For instance, In 2018, Solvay launched product named CYASORB CYNERGY B878T for building & construction and CYASORB CYNERGY M535 for injection and blow molding applications. This product launch reinforced Solvay’s plastic additives product portfolio, which is expected to increase their consumer base in the near future. 

Global Plastic Antioxidants Market, by Type

By type, the phenol segment accounted for the largest market share in 2018 due to its wide application in polyolefin and other plastic types. Phenols are known to reduce the rate of oxidation of organic matter by transferring hydrogen atom from their OH group to the chain that carries ROO radicals. But before transferring hydrogen atom, the antioxidant capability of phenols is strongly reduced by the hydrogen that accepts solvents. Phenol is a strong antioxidant, once the hydrogen bond gets transferred. It is one of the traditional antioxidants used in plastic production. This makes phenolic antioxidants a largest used plastic additive over other types

Plastic Antioxidants Market
By Type
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Phenols is projected as the most lucrative segment.

Global Plastic Antioxidants Markets, by Form

By type, plastic antioxidants are mostly preferred in the solid form as major additive types such as phenolic antioxidants and amine antioxidants are in solid state. Solid state accounted for more than 60% market share in 2018, and it is expected to be the largest segment by the end of the forecast period.   

Plastic Antioxidants Market
By Polymer Resin
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Polyethylene is projected as the most lucrative segment.

Global Plastic Antioxidants Markets, by End User 

By end user, the polyethylene segment accounted for the highest market share in 2018. Polyethylene is a lightweight and durable plastic, which is produced more than 100 million tons every year due to its application in various markets. It is used as films, tubes, plastic parts, laminates, and others in the range of markets including packaging, automotive, electronics, and others. The packaging is the major consumer of polyethylene and its types such as HDPE, LDPE, and LLDPE, which account for around 35% of the market as compared to other markets. 

Plastic Antioxidants Market
By Form
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Solid is projected as the most lucrative segment.

Global Plastic Antioxidants Markets, by Region

By region, Asia-Pacific acquired the largest market share, owing to established automotive industry, stable growth in the construction industry, and largest electronic and electrical products across the globe, which further boost the demand for plastic and ultimately for plastic antioxidants.           

Plastic Antioxidants Market
By Region
2026
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.

Key Benefits for Stakeholders

  • The report provides an in-depth analysis of the plastic antioxidants market forecast along with the current and future market trends
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the plastic antioxidant industry for strategy building
  • A comprehensive plastic antioxidants market analysis covers factors that drive and restrain the market growth
  • Plastic antioxidants market size is provided in terms of volume and revenue
  • The qualitative data in this report aims on market dynamics, plastic antioxidants trends, and developments

Plastic Antioxidants Market Report Highlights

Aspects Details
Plastic Antioxidants Market By Type
By Type
  • Phenols
  • Amines
  • Phosphites
  • Organic Sulfides
  • Antioxidant Blends
  • Others
Plastic Antioxidants Market By POLYMER RESIN
By POLYMER RESIN
  • Polyethylene
  • Polypropylene
  • Polyvinyl Chloride
  • Acrylonitrile Butadiene Styrene
  • Polystyrene
  • Others
Plastic Antioxidants Market By Form
By Form
  • Solid
  • Liquid
Plastic Antioxidants Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, UAE, South Africa, Rest of LAMEA)
Key Market Players
Key Market Players

SUMITOMO CHEMICAL COMPANY, LIMITED, SONGWON, 3V SIGMA S.P.A., SI GROUP, BASF SE, SOLVAY S.A., DOVER CHEMICAL CORPORATION, CLARIANT AG, EVERSPRING CHEMICAL CO., LTD., AMFINE CHEMICAL CORPORATION

Analyst Review

The global plastic antioxidants market is witnessing a significant growth in response to the strong plastic consumption across the globe. In terms of demand, plastic is already a matured sector across the globe with a comprehensive and wide consumer base in almost every industry vertical. Despite the stringent regulatory policies and ban on plastic in various countries, its demand is increasing due to unavailability of feasible alternative. Being a major consumer of antioxidants, polyolefins have been the center of attention to the manufacturers due to its negative growth in 2018. The negative demand was reported from the automotive sector in 2018. But on account of no practical and economical alternative to plastic, the demand for polyolefin increased across the globe.

The packaging industry reports around 40% of consumption of plastic products as of 2018; thereby, providing significant growth opportunities for antioxidants. However, a couple of initiatives such as ban on single-use plastic bags in India and the additional tax imposed on plastic packaging in some countries as a result of pollution caused by plastic packaging restrain the market growth in the packaging industry.

Author Name(s) : Krunal Yeware | Eswara Prasad
Frequently Asked Questions?

The Global Plastic Antioxidants market was valued at $3.02 billion in 2018 and is projected to reach $4.96 billion by 2026

The forecast period in the report is 2019 to 2026

Polyethylene Market holds the maximum market share in the Plastic Antioxidants market

The Top 5 emerging investment markets are India Plastic Antioxidant Market, Italy Plastic Antioxidants market, Brazil Plastic Antioxidant Market, South Africa Plastic Antioxidants Market, Canada Plastic Antioxidants market

Canada is projected to grow at a cagr of 6.9%, India is projected to grow at a CAGR of 5.0% and Italy is projected to grow at a CAGR of 5.5% during the forecast period

The companies profiled in the study have been selected based on their product portfolio, global presence, and the application they are into.

Key trend in the global Plastic Antioxidant market includes increasing use of plant based antioxidants in agricultural application and commercial use of additives to degrade oil based plastic in landfills

The base year is 2018

The market value of Plastic Antioxidants market in 2019 is $3.20 billion

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Plastic Antioxidants Market

Global Opportunity Analysis and Industry Forecast, 2019-2026