What is the future of Plastic Antioxidants Market? Know Covid Impact on Size, Share & Forecasts
June 29, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Plastic Antioxidants Market.
It was estimated prior to this unanticipated outbreak that the Plastic Antioxidants Market was expected to grow at a CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Plastic antioxidants are the elements that help in protecting the plastic materials from thermal oxidation. Different oxidants react on different elements of the oxidation process and also show up different reactivity levels in different temperatures.
Plastic antioxidants are effective during different temperature ranges and help in improving the thermal stability and processing of plastics. There are also other such antioxidants that work only in high temperature and works best in its solid phase. Two oxidants can be blended at times to offer results that are much efficient than the single antioxidant.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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 high 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 high growth during the forecast period. The growth is attributed to its high demand from various end-use industries.
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.
In terms of regions, Asia-Pacific is expected to have high 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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Plastic Antioxidants Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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