Plastic Antioxidants Market

Plastic Antioxidants Market Size-(2023-2028):

The plastic antioxidants market size is estimated to be USD 2.3 billion in 2022 and is expected to reach USD 2.8 billion by 2028, with a CAGR of 5.4% over the forecast period of 2028.

Plastic antioxidants are used to protect materials from heat-induced oxidation. These inhibitors consist of phenolic ingredients or phosphide and phosphonite. They provide excellent tensile strength and anti-aging with impact resistance. These inhibitors are used to increase the durability and performance of the equipment. Due to these factors, they are used in various applications such as aerospace, automotive, coil, petrochemical, and others. Due to their exceptional properties such as hardness, resistance to chemicals, acids, and alkalis, and workability at high temperatures, etc., they have made plastics material of choice for many applications. Conventional materials just to name a few such as aluminum, iron, steel, etc. are being replaced by plastics due to their low cost, ease of processing, and lightness. The automotive industry is one of the key sectors where the trend to replace metal with plastic is gaining ground. Although they possess several high-level and inherently attractive properties, plastics are vulnerable to oxidation during high-temperature melt processing applications. Plastic antioxidants are compounds that inhibit oxidation and keep the material intact and viable during high-temperature applications or during long exposure. 

Plastic Antioxidants Market Driver and Restraints:

The high economic growth of the plastic industry and the increasing utilization in various sectors such as automotive, aerospace, packaging, electronics, construction, etc. for many applications propels the demanding growth of the plastic antioxidants market. Antioxidants are used to increase the self-life of polymers because oxidation is possible. A significant number of antioxidants are in use during the plastic processing phase. Demand for antioxidants increases the proportion to the market demand for plastic products in the upcoming period.

Antioxidants play a vital role in various stages in the plastic industry. They stabilize polymers/ plastics during self-life/storage and processing techniques. Processing techniques as extrusion and injection are carried out at high temperatures. Due to this health and consumer work for recent developments of non-migratory natural antioxidants help drive the market for plastic antioxidants. The strong and durable nature of ABS drives the demand in various industries like automobiles, home appliances, and electrical & electronics. Health effects associated with the usage of synthetic plastic antioxidants act as a major restraint on the growth of the plastic antioxidants market.

PLASTIC ANTIOXIDANTS MARKET REPORT COVERAGE:

The Antioxidant Type:

• Phenolic

• Phosphite & phosphonite

• Antioxidant blends

• Others

Phenolic antioxidant due to chain propagation by terminating the free radical with all polymer resin leads the market for antioxidant type market.

Polymer Resin:

• Polyethylene

• Polypropylene

• Polyvinyl chloride

• Polystyrene

• Acrylonitrile butadiene styrene

• Others

The segment product acrylonitrile butadiene raises the market. The properties of acrylonitrile butadiene styrene polymers like strong and durable help drive the market in various end-use industries. During processing, plastic materials are subjected to varying temperatures and stresses and the possibility of oxidation is high.

Geographical Analysis:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• The Middle East and Africa 

Plastic Antioxidants Market Key Players:

• BASF

• Songwon

• SI Group

• ADEKA

• Clariant

• A. Schulman

• Milliken, Solvay

• Dover Corporation

• 3V Sigma