The plastic antioxidants market size is expected to reach USD 2.6 billion by 2025, at a CAGR of 5.3% during the forecast period. 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. Factors such as plastics replacing conventional materials, increasing demand in medical industry, and rapid urbanization in developing countries will drive the plastic antioxidants market.
Plastic Antioxidants Manufacturers:
Key players in the industry are 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). They have adopted strategies such as agreement, expansion, and new product launch in order to gain an advantage over their competitors.
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Based on type, the most commonly used plastic antioxidants are phenolic, phosphite & phosphonite, antioxidants blends, and others. Antioxidants are classified on the basis of their ability to interrupt the overall oxidation process. Chain breaking and preventive mechanisms are the two major antioxidant mechanisms that interfere with polymer oxidation cycles. The two classes of antioxidants identified are chain-breaking or primary antioxidants and preventive or secondary antioxidants. Primary antioxidants react rapidly and are, therefore, referred to as radical scavengers. Phenolic antioxidants are primary antioxidants, which interfere with chain propagation by terminating the free radical. They are used for plastics or polymer systems that are sensitive to thermal and oxidative degradation due to the formation of peroxides and free radicals. Phenolic antioxidants protect plastics or other polymers against degradation and oxidation at high processing temperatures.
Based on polymer resin, the plastic antioxidants market has been segmented into PE, PP, PVC, PS, ABS, and others. The plastic antioxidants market in the PP polymer resin segment accounted for the largest share in 2019, in terms of both value and volume. The presence of tertiary carbon atoms occurring alternately on chain blocks makes PP susceptible to oxidation at high temperatures. Hence, antioxidants are used widely in PP. ABS is widely used in various industries, such as home appliances, electrical & electronics, and automobiles, due to its strength and durability.
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Based on region, Asia Pacific is projected to be the largest market for plastic antioxidants during the forecast period. APAC dominated the plastic antioxidants market in 2019 followed by Europe and North America. This is due to the increasing demand and production of plastics in the region. In addition, increasing urbanization and the middle-class population spur the growth of electronic & electrical goods, automobiles, agricultural films, and consumer appliances, which fuel the growth of plastics.
