Global Plastic Antioxidants
Market Report
2024
Plastic Antioxidants market was valued at USD 2.9 billion in 2022 and will reach USD 4.41 billion by 2030, registering a CAGR of 5.4 % for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global Plastic Antioxidants market was valued at USD 2.9 billion in 2022 and will reach USD 4.41 billion by 2030, registering a CAGR of 5.4 % for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Plastic Antioxidants Market Sales Revenue 2030 | $ 5.6 Billion |
Global Plastic Antioxidants Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.63% |
Market Split by Type |
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Market Split by Application |
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Market Split by Polymer Resin |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Plastic Antioxidants Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Antioxidants are additives added to plastics to inhibit degradation caused by thermo-mechanical or thermo-oxidative conditions. Amines, phenolics, phosphite, thioesters, and others are employed as antioxidants for plastics. Antioxidant has wide application in the plastic industry as it reduces the deterioration of plastic and helps to extend the durability of the final product. Plastics are used in each and every sector including agriculture, FMCG, construction, automobile, packaging, electronics, and industrial equipment. Hence antioxidants in the polymer are a must for the longer shelf life of the product. Increasing demand for FMCG, automobile, construction, and other industries is likely to drive the Plastic Antioxidants market. Strict government rules and regulations on the use of plastics are likely to hinder the growth of Plastic Antioxidants during the forecast period.
According to the Statista Research Department, global plastic production was 391 million metric tons in 2021. This shows the growing demand for plastics by end-use industries. The use of polyethylene, polypropylene, and polyvinyl chloride is maximum in various industries. Increasing demand for fast-moving consumer goods is likely to boost the plastics market. The plastics are used in large amounts by FMCG, construction, textile, automobile, packaging, electronics, and industrial equipment. Hence increasing use of plastics by end-use industries is driving Plastic Antioxidants for raising the shelf-life and durability of products by avoiding polymer degradation.
The demand for the packaging industry is rising due to the increased demand for plastic packaging by the food and beverage industry. The active packaging methods focus on the use of antioxidant compounds incorporated into packaging films for the stability, safety, and preservation of foods. About 51% of the global population lives in urban cities. The rising disposable income, changing lifestyle, and hectic work is changing the eating habits of the consumer. As a result, the need for packaged food is increasing. Even the growth of the e-commerce industry will increase the demand for the packaging industry. Hence use of more plastic in the packaging industry will boost the Plastic Antioxidants Market.
Plastics are bio-degradable in nature which decreases soil-fertility. The waste from the plastic manufacturing industry is thrown into the water resources which cause water pollution. The rising concerns of greenhouse gas emissions cause air pollution. According to the Inventory of U.S. Greenhouse Gas Emissions and Sinks, the total GHG emission in 2021 was 6,340 million metric tons of CO2 equivalent. Various new laws have been introduced to control plastic waste. To reduce plastic pollution, The Plastic Waste Management (Amendment) Rules, 2022, came into effect on July 1, 2022. The rule banned the nationwide manufacture, import, stocking, distribution, and sale of plastic and also bans the use of specific single-use plastic items that have low utility and high littering potential. Hence stringent rules of government to restrict plastic usage will hamper the Plastic Antioxidants market.
The outbreak of COVID-19 has witnessed a negative impact on the Plastic Antioxidants market growth. During the pandemic, the lockdown and stringent government rules were implemented across several nations which disrupted the manufacturing and supply chain products. Decreased production of packaged food due to shortage of raw material, labour, etc. this ultimately resulted in a decreased need of Plastic Antioxidants required for packaging. During the pandemic, the automobile industry has also decreased drastically. Such factors have restrained the growth of the Plastic Antioxidants market.
Post-pandemic all the activities resumed and witnessed a positive impact. Due COVID-19 pandemic, consumers are now more health conscious, and demand for packaged food is increasing gradually which rise the supply of Plastic Antioxidants in the packaging industry.
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Borealis introduces PP monomaterial pouch for food packaging.
Borealis company from Austria has launched a new high-barriers polypropylene monomaterial pouch for dry food packaging. The new pouches have been designed to meet the broader recycling and waste reduction targets stated under the European Commission’s Packaging and Packaging Waste Regulation (PPWR). The monomaterial pouch are highly cost-effective. It has been developed in collaboration with value chain partners, including Jindal Films, Mitsui Chemical Group, Profol and Finnish company Huhtamaki Flexible Packaging.
Songwon Debuts New UV Absorber and Antioxidant
Songwon, a global polymer additives supplier has expanded its portfolio with two new products. Songnox 9228 antioxidant and Songsorb 1164 UV absorber are the two products launched. These polymer additives are suitable for packaging, agriculture, and building and construction as well as home and personal care applications.
Milliken and PureCycle together launched the new concentrate using recycled PP resin.
Milliken & Company, a trusted expert in polymer additive and colorant technology, and diversified global manufacturer, and PureCycle Technologies, Inc. jointly announced that they have created the first fully sustainable concentrate for PP on the market. Additionally, when new concentrate is used in combination with PureCycle's recycled PP, it produces a formulation with a carbon footprint (GHG) approximately 35% lower than that of virgin PP.
Top Companies Market Share in Plastic Antioxidants Industry: (In no particular order of Rank)
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Global Plastic Antioxidants Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Plastic Antioxidants Industry growth. Plastic Antioxidants market has been segmented with the help of its Type, Application Polymer Resin, and others. Plastic Antioxidants market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Phenols segment is projected to grow at the highest CAGR during the forecast period:
On the basis of form, the Plastic Antioxidants market is divided into Antioxidant Blends, Phenols, Phosphite, and Others. Phenolic compounds act as antioxidants by reacting rapidly with free radicals. They are radical scavengers that prevent the thermal degradation of many organic materials such as polymers. The phenolic antioxidants are more effective when combined with phosphites, thioethers, and light stabilizers. They help plastic against oxidation and degradation at high temperatures. These phenol antioxidants are effective over a wide range of temperatures and provide protection during melting processing, end-use, and long-term storage. All such reasons will drive the Phenolic Antioxidants segment during the forecast period.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Plastic Antioxidants Industry. Request a Free Sample PDF!
The Packaging segment is projected to grow at the highest CAGR during the forecast period:
By application, the market is divided into Automotive, Construction, Consumer Products, Electronics, Packaging, and Others. Rapid urbanization and a growing population are increasing the demand for packaged foods. Hence the demand for antioxidants from the food industry packaging is increasing day by day. The packaging segment is also booming due to the use of polymer in the production of pharmaceutical products. The demand from the end-use industry for lightweight, durable, and flexible packages is increasing which fuels the segment.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Plastic Antioxidants market report 2024 Edition by contacting our team.
The Polypropylene type of polymer is projected to grow at the highest CAGR during the forecast period:
By the type of polymer resin, the market is divided into Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, and Acrylonitrile Butadiene Styrene. Polymer degradation is a natural phenomenon that tends to deteriorate the physical & mechanical like molecular weight, melt flow rate, colour, processing, and thermal stability properties of the polymer. To avoid this degradation, antioxidants are added to polyolefins like PP, PE, and PVC. Polypropylene is used in almost every modern industry. Polypropylene has different characteristics such as transparency, semi-rigidness, chemical resistance, heat resistance, and flexibility because of which the demand is more from end-use industries like automobile, building and construction, healthcare, electronics, and packaging industry. Antioxidants in polypropylene avoid colour change and stabilize physical properties for a reasonable life span. The increasing demand for polypropylene in the end-use industry will boost the segment in the upcoming years.
The rapid urbanization and industrialization in the developing nations of the Asia-Pacific region will drive the Plastic Antioxidants market during the forecast period. Rising disposable income and purchasing power of the middle class boost the demand for more end-use industries like automobile, packaging, cosmetics, healthcare, and construction industry. China is the largest producer of plastics with almost 30% of overall world plastic production. Also, the Asia-Pacific region consists of the largest food packaging companies. Hence Asia-Pacific region is the largest producer as well as consumer of plastics which is likely to have a positive impact on the market. The booming automobile industry in developing countries like India, China, Singapore, and Indonesia will boost the Plastic Antioxidants market. All such components make the Asia-Pacific region dominate the Plastic Antioxidants market during the forecast period.
The current report Scope analyzes Plastic Antioxidants Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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The Global Plastic Antioxidants Market is witnessing significant growth in the near future.
In 2023, the Antioxidant Blends segment accounted for noticeable share of global Plastic Antioxidants Market and is projected to experience significant growth in the near future.
The Automotive segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies BASF (Germany), SI Group (US) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | Antioxidant Blends, Phenols, Phosphites |
Application | Automotive, Construction, Consumer Products, Electronics, Packaging |
Polymer Resin | Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene |
List of Competitors | BASF (Germany), Songwon (South Korea), SI Group (US), ADEKA (Japan), Clariant Switzerland), A. Schulman (US), Milliken (U.S.), Solvay (Belgium), Dover Corporation (US), 3V Sigma (Italy), Sumitomo (Japan), Sakai Chemical (Japan), Everspring Chemical (Taiwan), OMNOVO Solutions (US), Evonik Industries (Germany) |
This chapter will help you gain GLOBAL Market Analysis of Plastic Antioxidants. Further deep in this chapter, you will be able to review Global Plastic Antioxidants Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Plastic Antioxidants Market Trends North America Plastic Antioxidants Technological Road Map North America Plastic Antioxidants Market Drivers North America Plastic Antioxidants Market Restraints North America Plastic Antioxidants Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Polymer Resin Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Plastic Antioxidants market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Antioxidant Blends have a significant impact on Plastic Antioxidants market? |
What are the key factors affecting the Antioxidant Blends and Phenols of Plastic Antioxidants Market? |
What is the CAGR/Growth Rate of Automotive during the forecast period? |
By type, which segment accounted for largest share of the global Plastic Antioxidants Market? |
Which region is expected to dominate the global Plastic Antioxidants Market within the forecast period? |
Segmentation Level Customization |
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Additional Quantitative Data |
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