The report “Plastic Antioxidants Market by Antioxidants Type (Phenolic, Phosphite & Phosphonite, Antioxidant Blends), Polymer Resin (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene), and Region – Global Forecast to 2025” The plastic antioxidants market is projected to reach USD 2.6 billion by 2025, at a CAGR of 5.3% from USD 2.0 billion in 2020. Antioxidants are stabilizing agents that inhibit the process of oxidation by reacting and decomposing the reactive species. They protect plastics and other materials against thermally induced oxidation. Antioxidants that are used in plastics include primary antioxidants and secondary antioxidants. Different types of antioxidants provide different levels of reactivity as a function of temperature and also react and decompose the different radical intermediates in the oxidation process, thereby providing thermal stability to plastics.
PP is the largest polymer resin segment of the plastic antioxidants market. Asia Pacific was the largest market for plastic antioxidants in 2019, in terms of both volume and value. Factors such as plastics replacing conventional materials, increasing demand in medical industry, and rapid urbanization in developing countries will drive the plastic antioxidants market.
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Phosphite & Phophonite are projected to be the fastest growing type in the plastic antioxidants market during the forecast period
Phosphites & phosphonites are phosphorus-based secondary antioxidants. Secondary antioxidants are known as hydroperoxide decomposers as they react with hydroperoxides to produce non-radical products. They are used in combination with primary antioxidants. Phosphites & phosphonites are among the most effective stabilizers, as they protect both primary antioxidants and the polymers during processing. Hydrolytically stable phosphites & phosphonites are generally the most frequently used polymer stabilizers. Strong demand for plastics in applications, such as automotive and construction are driving the demand for phophites & phophonites. This plays a key role in driving the plastic antioxidants market in this region. China and Japan house major players in electronics, automotive, and consumer goods. These industries generate high demand for plastics, and in turn, high demand for plastic antioxidants.
The PP is estimated to be the largest polymer resin segment of the plastic antioxidants market during the forecast period.
PP is a thermoplastic polymer with the presence of tertiary carbon atoms. The presence of tertiary carbon atoms makes it susceptible to oxidation and thermal degradation at high temperatures. Polypropylene is processed at temperatures between 428°F and 536°F, and under these conditions, it degrades to form low molecular weight products. Thus, antioxidants are added to PP to stabilize it. Antioxidants are added during the manufacturing process and palletizing. The commonly used antioxidant for PP is butylated hydroxyl-toluene (BHT), which is used as a primary antioxidant, and phosphite & phosphonite, used as secondary antioxidants. Blends of thioesters and phenol antioxidants are also used. Polypropylene is used in packaging & labeling, automotive components, stationery, plastic parts, reusable containers, laboratory equipment, and loudspeakers.
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APAC projected to be fastest growing region for the plastic antioxidants market during the forecast period
The region is characterized by a growing population and economic developments. The increasing population in the region, accompanied by increasing construction spending in the developing markets of China, India, and Indonesia, is projected to make this region an ideal destination for the plastic industry. This, in turn, is expected to drive the plastic antioxidants industry in the near future. The increase in employment rate, the rise in disposable income of the people, and an increase in foreign investments in various industries of the economy are some of the other factors that make APAC an attractive market for plastic antioxidants manufacturers.
The key market players profiled in the report include BASF SE (Germany), Songwon (South Korea), Adeka Corporation (Japan), Solvay (Belgium), SK Capital (US), Clariant (Switzerland), Sumitomo Chemical (Japan), 3V Sigma S.p.A (Italy), and Dover Chemical Corporation (US).
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