Plastic Antioxidants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Plastic Antioxidants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global plastic antioxidants market size reached US$ 3.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.90% during 2022-2028.

Plastic antioxidants help protect materials against thermal and light-assisted oxidation reactions that are caused by ultraviolet (UV) light exposure during high-temperature processing operations. They are utilized in a wide range of applications to enhance the appearance and maintain strength, stiffness, and flexibility of products while prolonging their service life. Nowadays, several manufacturers are offering multifunctional variants that have special molecular designs and combine primary and secondary functions in one compound.

Plastic Antioxidants Market Trends:
Polymers change over time when exposed to oxygen, light, radiation, excessive heat, and corrosive environments. This can lead to loss of impact strength, elongation, surface cracks, discoloration, and poor service life of products. As a result, plastic antioxidants are widely utilized in various end use industries to inhibit oxidative degradation and maintain the integrity of products during long-term storage. Apart from this, plastic antioxidants are extensively utilized in the manufacturing of a wide range of polymer-based interior and exterior components of vehicles, such as bumpers, dashboards, steering wheels, and switches. In addition to this, stringent emission standards implemented by governing agencies of several countries are encouraging original equipment manufacturers (OEMs) to adopt plastic antioxidants in modern vehicles. Plastic antioxidants assist in minimizing the risk of excessive volatile organic compound (VOC) emissions caused by polymer degradation. Besides this, the expanding use of medical equipment worldwide on account of the growing prevalence of acute and chronic diseases and the rising geriatric population is contributing to the market growth. Furthermore, the emerging trend of sports accessories and electronic items, such as cable insulation and circuit boards, is driving the applications of plastic antioxidants in the telecommunications, electronics, and sports industries across the globe.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global plastic antioxidants market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on antioxidant type, polymer resin, form and application.

Breakup by Antioxidant Type:

Phenolic
Phosphite and Phosphonite
Antioxidant Blends
Others

Breakup by Polymer Resin:

Polypropylene
Polyethylene
Polyvinyl Chloride
Polystyrene
Acrylonitrile Butadiene Styrene

Breakup by Form:

Solid
Liquid

Breakup by Application:

Packaging
Construction
Automotive
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3V Sigma S.p.A., Adeka Corporation, BASF SE, Clariant AG, Dover Chemical Corporation (ICC Industries Inc.), Everspring Chemical Co. Ltd., Evonik Industries AG, Lanxess AG, LyondellBasell Industries N.V., Solvay S.A., Songwon Industrial Co. Ltd., Sumitomo Chemical Co. Ltd. and Synthomer plc.

Key Questions Answered in This Report:
How has the global plastic antioxidants market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global plastic antioxidants market?
What are the key regional markets?
What is the breakup of the market based on the antioxidant type?
What is the breakup of the market based on the polymer resin?
What is the breakup of the market based on the form?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global plastic antioxidants market and who are the key players?
What is the degree of competition in the industry?