Plastic Antioxidants Market to experience an impressive growth of 5.2% during 2020-2025
February 07, 2020
Plastic antioxidants market is likely to witness an impressive CAGR of 5.2% during the forecast period. Rapid urbanization, rising disposable income, improved standard of living, and replacement of conventional materials by plastics in various end-use industries are some of the factors that are driving the plastic antioxidants market globally.
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Plastic Antioxidants Market Segment Insights:
By Resin Type:
Based on the polymer resin type, the market is segmented as polypropylene, polyethylene, polyvinyl chloride, polystyrene, acrylonitrile butadiene styrene, and others. The polypropylene segment is estimated to have the highest growth in the coming five years. The market is driven by the properties of tertiary carbon atoms present in polypropylene, such as susceptibility to oxidation and thermal degradation. The acrylonitrile butadiene styrene segment is also expected to register the highest growth during the forecast period. The growth is attributed to its high demand from various end-use industries.
By Antioxidant Type:
Based on the antioxidant type, the market is segmented as phenolic antioxidants, phosphite & phosphonite antioxidants, antioxidant blends, and others. Phenolic antioxidants are estimated to lead the market during the forecast period. The growing production and adoption of polypropylene and polyethylene for primary use is expected to drive the growth of this segment.
By Region:
In terms of regions, Asia-Pacific is expected to have the highest growth for plastic antioxidants in the coming five years in terms of both value and volume. China and India are the growth engines of the region. The market is sustained by rising disposable income, ameliorated standard of living, and increasing demand from various end-use industries. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.
Key Players:
Some of the plastic antioxidant manufacturers are BASF SE, Adeka Corporation, Solvay SA, 3V Sigma S.P.A, Dover Chemical Corporation, Everspring Chemical Co., Ltd., Ampacet Corporation, Astra Polymers Compounding Co Ltd., and Evonik Industries AG.
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