Plastic Antioxidants Market Forecast to 2023: Global Emerging Trends and Leading Players Insight - BASF SE, SI Group, Inc., Dover Corporation, Solvay, LANXESS, SAKAI CHEMICAL INDUSTRY CO. LTD.

Market Overview:

Plastic Antioxidants are used to protect the materials from thermally induced oxidation. These inhibitors are composed of phenolic or phosphite & phosphonite ingredients. They offer excellent tensile strength, anti-ageing with impact resistance. These inhibitors are utilized to increase the durability and performance of the equipment. Owing to these factors, they are used in various applications such as aerospace, automotive, coil, petrochemicals, and others.

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As per our analysis, the Global Plastic Antioxidants Market is bifurcated into polymer resin and antioxidants type. The market by polymer resin is further divided into polyethylene, polypropylene, polyvinylchloride, polystyrene, acrylonitrile butadiene styrene. Among these, the polypropylene resin segment holds a major portion of the market on account of its growing use in food packaging, heavy duty sacks, hygiene films, compounding, and others.

Industry Trends:

The market is experiencing a few changes in terms of both production and developments. For instance, Addivant has increased their production capacity of Ultranox 626 capacity by 40%. Ultranox 800 is again saving costs for polypropylene compounders and recyclers and is offering an option for customizing stability of products. Songwon Industrial Group is focusing much on developing antioxidant blends that are tailored to perfection as per the customer’s taste.

Intended Audience:

• Plastic Antioxidants Market Manufacturers
• Traders and Distributors of Plastic Antioxidants Market
• Production Process Industries
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratory

Competitive Analysis:

The market is getting in neck and neck situation with various market players competing closely to stay at the top. Merger and acquisition is one old trick that is proving vital for companies to stay abreast. For instance, SK Capital has recently announced an agreement to acquire SI Group. LANXESS has acquired Solvay’s phosphorus additive business which can be considered exemplary.

Some of the prominent players operating in the global plastic antioxidants market are SI Group, Inc (U.S.), Dover Corporation(U.S.), Evonik Industries AG(Germany), Solvay(Belgium), LANXESS (Germany), Trigon Antioxidants Pvt. Ltd.( India), BASF SE(Germany), SAKAI CHEMICAL INDUSTRY CO., LTD(Japan), Krishna Antioxidants Pvt. Ltd( India), Shandong Linyi Sunny Wealth chemicals Co., Ltd (China), among others.

Market Segmentation:

The Global Plastic Antioxidants Market for can be segmented by polymer resin and antioxidant type.

By polymer resin, the market can be segmented into polyethylene, polypropylene, polyvinylchloride, polystyrene, acrylonitrile butadiene styrene. Polypropylene resin holds a significant share of the market and finds considerable utility in food packaging, heavy-duty sacks, hygiene films, compounding, and others. Acrylonitrile butadiene styrene resins are mostly used in musical instruments such as piano, recorders, and others. The compound is expected to witness the fastest market growth during the forecast period.
Based on the antioxidant type the market comprises phenolic, phosphite & phosphonite and antioxidant blends. Phosphite & phosphonite holds the dominant market share due to its ability to protect products from decay and infuse the same with better stability.

Regional Analysis:

The Plastic Antioxidants Market covers five regions in the world namely Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA).
The APAC is dominating the market as several end-user industries are experiencing unprecedented expansion such as automotive, electrical & electronics, petrochemical, and oil & gas industries. India, China, and Japan are showing consumption of such product on an exceptional scale. In addition, acrylonitrile butadiene styrene resin is getting momentum in the region owing to huge traction generated by the end-users.

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