[2024] Plastic Antioxidants Industry: Exploring Market Growth and Technological Advances, 2026

The global plastic antioxidants industry was pegged at $3.02 billion in 2018 and is expected to reach $4.96 billion by 2026, registering a CAGR of 6.4% from 2019 to 2026.

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Major motivators for market growth
Protection provided by antioxidants against thermal and oxidative degradation and promising plastic consumption have boosted the growth of the global plastic antioxidants market. However, the implementation of stringent regulatory policies hampers the market growth. On the contrary, expansion in use of agriculture plastic is expected to create lucrative opportunities in the near future.

Allied Market Research recently published a report, titled, "Plastic Antioxidants Market by Type (Phenols, Amines, Phosphites, Organic Sulfides, Antioxidant Blends, and Others), Form (Liquid and Solid), and Polymer Resin (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene (ABS), and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026".

Major market players
SI Group
Clariant AG
BASF SE
Sumitomo Chemical Co. Ltd
Dover Chemical Corporation
Everspring Chemical Co. Ltd
Amfine Chemical Corporation
3v Sigma USA Inc
Songwon
Solvay S.A

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Phenols segment dominated the market
Based on type, the phenols segment held the largest share in 2018, contributing to nearly two-fifths of the global plastic antioxidants market, owing to rise in the adoption of high-performance plastic. However, the phosphites segment is expected to register the fastest CAGR of 7.1% during the forecast period. As phosphites function as an extender that enhances the life cycle of the final products, which increases the growth of the segment.

Polymer resin segment to manifest fastest CAGR through 2026
Based on polymer resin, the polypropylene segment is projected to portray the fastest CAGR of 7.1% through 2026, owing to rise in demands across the range of industries. However, the polyethylene segment held the largest share in 2018, accounting for nearly one-third of the global plastic antioxidants industry, due to rise in demands of polyethylene in the packaging industry.

North America to manifest the fastest CAGR
The market across North America is expected to manifest the fastest CAGR of 7.3% during the forecast period, owing to rise the increase in the adoption of plastic material for packaging used in various industries. On the other hand, the Asia-Pacific the market dominated in 2018, contributing to around half of the total revenue, owing to the presence of a huge consumer base i.e. established automotive and electronic & electrical industries, and stable growth in the construction industry. 

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Key Findings of the Study:

The plastic antioxidants market is analyzed from 2018 to 2026
The qualitative data in this report aims at the market dynamics, trends, and developments in the plastic antioxidants industry
The plastic antioxidants market size in provided in terms of volume & revenue
Based on type, the phenols segment emerged as the major revenue-generating segment in 2018 due to its major application in plastic production
Based on polymer resin, the polyethylene segment accounted for the largest market share in 2018, and is anticipated to be the largest one by the end of the forecast period. Increase in demand for high-density and low-density polyethylene in the automotive, construction, and other industries is driving the demand for plastic antioxidants in polyethylene production
Asia-Pacific is the largest regional market due to the highest automotive production and sales outlook, strong industrial growth, and the presence of emerging economies such as China, India, Japan, and South Korea. China recorded the highest plastic production as well as demand over the past few years due to its emergence as the global manufacturing hub; leading Asia-Pacific to account for major market share
Apart from the large consumer base of plastics, the factors such as growth in environmental awareness, rise in adoption of bio-based chemicals, and health hazards associated with plastic additives restrain the growth of the market
Increase in use of plastic in the agriculture sector is projected to offer new growth opportunities to the global plastic antioxidants market during the forecast period

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