Allied Market Research recently published a report, titled, “Plastic Antioxidants Market 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”. According to the report, the global plastic antioxidants industry was pegged at $3.02 billion in 2018 and is expected to reach $4.96 billion by 2026, registering a CAGR of 6.4% from 2019 to 2026.
Major motivators for market growth
Protection provided by antioxidants against thermal and
oxidative degradation and promising plastic consumption have boosted the growth
of the global plastic antioxidants market. However, the implementation of
stringent regulatory policies hampers the market growth. On the contrary,
expansion in use of agriculture plastic is expected to create lucrative
opportunities in the near future.
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Phenols segment dominated the market
Based on type, the phenols segment held the largest share in
2018, contributing to nearly two-fifths of the global plastic antioxidants
market, owing to rise in the adoption of high-performance plastic. However, the
phosphites segment is expected to register the fastest CAGR of 7.1% during the
forecast period. As phosphites function as an extender that enhances the life
cycle of the final products, which increases the growth of the segment.
Polymer resin segment to manifest fastest CAGR through 2026
Based on polymer resin, the polypropylene segment is projected
to portray the fastest CAGR of 7.1% through 2026, owing to rise in demands
across the range of industries. However, the polyethylene segment held the
largest share in 2018, accounting for nearly one-third of the global plastic antioxidants
market, due to rise in demands of polyethylene in the packaging industry.
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North America to manifest the fastest CAGR:
The market across North America is expected to
manifest the fastest CAGR of 7.3% during the forecast period, owing to rise the
increase in the adoption of plastic material for packaging used in various
industries. On the other hand, the Asia-Pacific the market dominated
in 2018, contributing to around half of the total revenue, owing to the
presence of a huge consumer base i.e. established automotive and electronic
& electrical industries, and stable growth in the construction industry.
Major market players
·
SI Group
·
Clariant AG
·
BASF SE
·
Sumitomo Chemical Co. Ltd
·
Dover Chemical Corporation
·
Everspring Chemical Co. Ltd
·
Amfine Chemical Corporation
·
3v Sigma USAInc
·
Songwon
·
Solvay S.A
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