Plastic Antioxidants Market Size, Scope, Growth Opportunities 2022-28

According to Precision Business Insights (PBI), the latest report, the plastic antioxidants Market is expected to be worth USD 2.4 billion in 2022, growing at a 6.6% CAGR from 2022 to 2028. The increased demand for antioxidants in the production of polymers, particularly polypropylene, is expected to cause the global market for plastic antioxidants to proliferate over the forecast period. The manufacturing of polypropylene, which is then utilized in heater cases, light housings, bumper structures, instrument panels, rocker panels, interior trimmings, interior pillar trims, etc., makes considerable use of plastic antioxidants. The growth of the plastic antioxidants industry is being driven by factors such as rising urbanization and rising demand for plastic antioxidants for polymer resins such as PE, PP, PVC, PS, ABS, and others for the automotive, consumer goods, building & construction, and medical & healthcare industries.

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Phenolic Antioxidant Segment to Dominate the Plastic Antioxidants Market:
The phenolic antioxidant segment is expected to account for a larger revenue share in the global plastic antioxidants market, with a value share worldwide. It is projected to grow at a 6.8% CAGR between 2022 and 2028. Phenolic antioxidants are primary antioxidants that stop the free radicals to prevent chain propagation. Resulting from the production of peroxides and free radicals, they are utilized with plastics or polymer systems vulnerable to heat and oxidative degradation. At high processing temperatures, phenolic antioxidants guard plastics or other polymers from oxidation and deterioration.

Asia Pacific Plastic Antioxidants Market:
The Asia Pacific market is expected to increase in the global plastic antioxidants market over the forecast period. It is projected to grow at a CAGR of 6.9% in the coming years. The growth of the building and construction, packaging, automotive, and other industries in the Asia Pacific region is fueled by the rising population and rising disposable income in nations like China and India. As a result, these industries drive the market for plastics and, consequently, plastic antioxidants. Economic advancements and a burgeoning population distinguish the region. The area is anticipated to become a prime location for the plastic sector due to its growing population and rising construction spending in China, India, and Indonesia, three developing markets. The plastic antioxidants market is anticipated to be driven by this shortly.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global plastic antioxidants market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

Detailed Segmentation
Based on the type, the market is segmented into the following:
• Phenolic
• Phosphite & Phosphonite
• Antioxidants
• Other

Based on the polymer resin, the market is segmented into the following:
• PE
• PP
• PVC
• PS
• ABS
• Others

Based on the application, the market is segmented into the following:
• Packaging
• Construction
• Automotive
• Others


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Key players' profiles in the plastic antioxidants market report are BASF SE, SONGWON Industrial Group, SI Group, Inc., Solvay S.A., 3V Sigma USA, Inc., Kawaguchi Chemical Industry Co., Ltd., ADEKA Corporation, Everspring Chemical Co., Ltd., Omnova Solutions Inc., and Dover Chemical Corporation.

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