According to IMARC Group's latest research report, titled "Plastic Antioxidants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights into the plastic antioxidants market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global plastic antioxidants market reached a value of US$ 3.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2027, exhibiting at a CAGR of 6.59% during 2022-2027.
Plastic Antioxidants Market Outlook:
Plastic antioxidants refer to substances that are used to prevent the degradation caused by thermo-oxidative and thermo-mechanical conditions. They protect materials against thermal and light-assisted oxidation reactions that are induced by ultraviolet (UV) light exposure during high-temperature processing operations. Plastic antioxidants are categorized into several forms, such as phenolics, thioesters, amines, phosphates, etc. These substances find extensive applications to enhance the appearance and maintain stiffness, strength, and flexibility of products while extending their service life. Some of the plastic products that commonly comprise antioxidant additives include polyethylene films (PE films) for food packaging applications, fittings and pipes in the construction industries, and other derivatives produced from polypropylene (PP).
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Plastic Antioxidants Market Growth:
The escalating demand for these substances in the production of polymer resins, such as polyvinyl chloride (PVC), polystyrene (PS), acrylonitrile butadiene styrene (ABS), etc., is among the primary factors driving the plastic antioxidants market. Besides this, they are also utilized in numerous industries to inhibit oxidative degradation and maintain the integrity of items during long-term storage, which is augmenting the market growth. Moreover, the growing popularity of plastic antioxidants in the manufacturing of interior and exterior components of vehicles, including bumpers, dashboards, steering wheels, switches, etc., is further catalyzing the global market. Apart from this, the widespread adoption of sports accessories and electronic items, such as cable insulation and circuit boards, is acting as another significant growth-inducing factor. Furthermore, key market players are focusing on replacing ceramics, glass, metals, and paper with lightweight materials in the packaging industry, which is expected to bolster the plastic antioxidants market in the coming years.
Key Market Segmentation:
Competitive Landscape with Key Players:
Breakup by Antioxidant Type:
Breakup by Polymer Resin:
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Key Highlights of the Report:
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