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Plastic Antioxidants Market Report 2023- Overview, Segmentation, Geographical Analysis, Major Key Players, Shares, Demands
Global Plastic Antioxidants Market Information by: Polymer Resin (Polyethylene, Polypropylene, Polyvinylchloride, Polystyrene, Acrylonitrile Butadiene Styrene), Antioxidants Type (Phenolic, Phosphite & Phosphonite, Antioxidant Blends) – Forecast till 2023
The inhibitors which are added in the resins to protect the materials or equipment are called plastic antioxidants. It has various significant properties such as excellent tensile strength, protection against thermally induced oxidation with impact resistance. It is used to provide flexibility, quality, and durability to the product.
The Global Plastic Antioxidants market has been driven by its growing consumption in various sectors such as aerospace, automotive, coil, petrochemical, and others. Moreover, it is estimated that the acrylonitrile butadiene styrene resin segment is set to witness the highest growth in the market due to rising substitution of heavy metals by lightweight materials.
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Major Key Players:
The Major Players operating in the Plastic Antioxidants Market are:
- BASF SE (Germany),
- Solvay (Belgium),
- SI Group Inc. (U.S.),
- Dover Corporation (U.S.),
- SAKAI CHEMICAL INDUSTRY CO. LTD. (Japan),
- Evonik Industries AG (Germany),
- LANXESS (Germany),
- Trigon Antioxidants Pvt. Ltd. ( India),
- Krishna Antioxidants Pvt. Ltd ( India),
- Shandong Linyi Sunny Wealth chemicals Co. Ltd (China)
The Global Plastic Antioxidants Market is categorized on the basis of Polymer Resin, Antioxidants Type:
On The Basis Of Polymer Resin-
- Acrylonitrile Butadiene Styrene
On The Basis Of Antioxidants Type-
- Phosphite & Phosphonite,
- Antioxidant Blends
Geographically, Plastic Antioxidants Market is segmented across Five Regions in the world namely:
- Asia Pacific,
- North America,
- Latin America,
- Middle East & Africa.
Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to rising demand for plastic antioxidants market in various applications. Countries such as China, Japan and India are the major players in this region.
The North America region is estimated to witness a higher growth in the U.S., Canada and Mexico owing to increasing demand for inhibitors in aerospace, automotive, and energy sectors. A recognized growth is observed in the European region owing to the growing consumption of lightweight materials in food packaging, automotive and aerospace to produce pollution free and efficient vehicles. Moreover, it is projected that the advancing research & development of product in the market has propelled this region to witness a significant growth in Germany, the U.K. and Italy.
The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of inhibitors in oil & gas, petrochemical and automobile industries. Additionally, the growing demand of high performance materials such as polypropylene and polyethylene in architectural, paints and coating industries is projected to boost the market in the Latin American region.
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