Impact of Existing and Emerging Stand-Up on Plastic Antioxidants Market

Plastic Antioxidants Market size was valued at USD 1.61 Billion in 2016 and is projected to reach USD 2.11 Billion by 2022, at a CAGR of 4.5% from 2017 to 2022.

The replacement of conventional materials by plastics in various industries, and the increasing disposable income and rapid urbanization in emerging countries are expected to fuel the demand for plastics. This increased demand for plastics is projected to drive the growth of the plastic antioxidants market in the coming years. In addition, the booming construction industry in countries such as the US, China, and India is propelling the demand for plastics in residential and non-residential buildings, which is expected to further drive the growth of the plastic antioxidants market.

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The polypropylene (PP) segment was the largest polymer resin segment of the plastic antioxidants market.

The PP polymer resin segment accounted for the largest share of the plastic antioxidants market in 2016, in terms of value. PP contains tertiary carbon atoms and is susceptible to oxidation. Furthermore, the growing production and consumption of PP in China, and the growth in the automotive and packaging industries in these countries is expected to drive the demand for plastic antioxidants.

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.

New product launches, acquisitions, and expansions were key strategies adopted by key players in the market. Major players in the plastic antioxidants market include BASF (Germany), Songwon (South Korea), SI Group (US), ADEKA Corporation (Japan), Clariant (Switzerland), A. Schulman (US), Milliken (U.S.) Solvay (Belgium), Dover Corporation (US), 3V Sigma (Italy), Sumitomo (Japan), Sakai Chemical (Japan).

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