The plastic antioxidants market is estimated to reach USD 2.11 Billion by 2022, at a CAGR of 4.5% between 2017 and 2022
The growth of the market is driven by the replacement of conventional materials by plastics in various industries, and the increasing disposable income and rapid urbanization in emerging countries.
The usage of plastic antioxidants is estimated to be highest in Polypropylene (PP) polymer resin during the forecast period, due to susceptibility to oxidation and thermal degradation and presence of tertiary carbon atoms in PP. The Acrylonitrile Butadiene Styrene(ABS) polymer resin segment is projected to witness the highest growth between 2017 and 2022. The growth of this segment can be attributed to the increasing demand and manufacturing of ABS in Asia-Pacific, especially in China. Its strong and durable nature drives its demand in various industries, such as home appliances, electrical & electronics, and automobiles.
On the basis of type, the phenolic antioxidants segment dominated the plastic antioxidants markets. Phenolic antioxidants have the ability to interfere with chain propagation by terminating the free radical and can be used with all polymer resins. In addition, the rising global production and demand for polypropylene and polyethylene, where these antioxidants are majorly used, is estimated to fuel the growth of phenolic antioxidants.
Asia-Pacific was the largest market for plastic antioxidants in 2016, in terms of value. The market in the region is also estimated to witness the highest growth during the forecast period, in terms of value and volume. The growing population in the region, along with the increased disposable income and improved standard of living, is fueling the demand for plastics in consumer appliances, electric & electronic devices, agriculture, and automobiles. This increased demand for plastics is expected to drive the plastic antioxidants market in the coming years. Furthermore, the growth in the building & construction industry in the region fuels the demand for plastics, which is expected to propel the growth of plastic antioxidants.
Adverse health effects associated with the usage of synthetic plastic antioxidants are the major restraints for the growth of the plastic antioxidants market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Plastic Antioxidants Market, By Polymer Resin
7 Plastic Antioxidants Market, By Antioxidant Type