Global Plastic Antioxidants Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Plastic Antioxidants Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Plastic antioxidants are a group of chemicals that slow down the process of oxidation in plastic. Oxidation causes a chemical reaction that produces free radicals-oxygen-containing atoms with an odd number of electrons. Free radicals cause chain reactions that damage the polymer molecules in plastic, degrading their strength and appearance. Antioxidants stop these chain reactions by removing free radicals and inhibit further oxidation by reacting with oxygen to form more stable end products. They are added to plastics during the manufacturing process to reduce the effect of thermal oxidation induced by processing temperatures.

Market Overview:

The latest research study on the global Plastic Antioxidants market finds that the global Plastic Antioxidants market reached a value of USD 1434.8 million in 2022. It’s expected that the market will achieve USD 1852.44 million by 2028, exhibiting a CAGR of 4.35% during the forecast period.

Plastic Antioxidants Market Drivers

In the 14th Five-Year Plan of National Economic and Social Development of the People's Republic of China and outline of the Vision Goal of 2035 and Made in China 2025 issued by The State Council, the new material industry is listed as the key field to be vigorously promoted and the new material is taken as the new pillar to build the industrial system. Promulgated by the State Council of the national major scientific and technological infrastructure construction for medium and long-term planning (2012-2030) requirements to materials characterization and regulation, and engineering materials experiment as the research key, such as layout and improve the related major science and technology infrastructure and promote composite materials science and technology to the functionalization, and intelligent, miniaturization, and in harmony with the environment, Make material science a priority area. In the long run, the country's attention to the new material industry has brought a good policy environment for the development of the plastic antioxidant industry.

Plastic Antioxidants Market Challenges

Some flammable and explosive chemical raw materials are used in the production process of plastic antioxidant. If the company's management is improper, or the safety and environmental protection measures are not in place, environmental protection and safety accidents may occur, which may adversely affect the company's property, employees' personal safety and the surrounding environment. In addition, with the strengthening of national safety and environmental protection management, relevant standards and requirements may change. If the company fails to adapt to the corresponding changes in time, its production and development will be affected to some extent.

COVID-19 is still affecting production, life and economic operation around the world. Under the uncertain global economic situation, the plastic antioxidant industry is also facing severe challenges. The COVID-19 epidemic resulted in a downturn for many sectors across the globe. The reduction in demand for plastics from end-use industries such as automobile, building & construction, consumer products and packaging has contributed to a decrease in the market for plastics-processing additives, including plastic antioxidants.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

The top three companies are BASF SE, Rianlon, Songwon Industrial Co., Ltd. with the revenue market share of 26.03%, 12.62%, 8.79% in 2021.

BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments, including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions. The company serves transportation, energy and resources, construction, consumer goods, electronics, health and nutrition, and agriculture industries.

Rianlon is a major solution provider of anti-aging additives and application technologies for polymer materials. Their product portfolio includes antioxidants (RIANOX), light stabilizers (RIASORB) and U-pack which is customized blending formulation to provide one-stop anti-aging solution. Rianlon is a government certified National High-tech Enterprise. Rianlon is also the first publicly listed company in the Chinese anti-aging additives industry, stock symbol: 300596. Rianlon commits itself to the mission of creating value for customers and stays focused on anti-aging technologies for polymer materials.

Rianlon has six production facilities. Rianlon has a very complete product portfolio with sufficient capacity of anti-aging additives for Polymers, including GAO, SAO, UVA, HALS and U-pack® and will continue to expand capacities worldwide in line with market development and demands of customers.

Segmentation Overview:

Among different product types, Phosphite & Phosphonite segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Thermoplastic Plastics segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Plastic Antioxidants market covered in Chapter 3:

Songwon Industrial Co., Ltd.
BASF SE
Shandong Linyi Sunny Wealth Chemicals Co.,Ltd.
Solvay S.A.
3V Sigma
Rianlon
Dover Chemical Corporation
Everspring Chemical Co., Ltd.
Sumitomo Chemical
Clariant AG
Adeka Corporation
Fengguang Advanced Material
SI Group, Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Plastic Antioxidants market from 2018 to 2029 is primarily split into:

Phenolic
Phosphite & Phosphonite
Antioxidant Blends
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Plastic Antioxidants market from 2018 to 2029 covers:

Thermoplastic Plastics
Thermosetting Plastics

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)