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Global Plastic Antioxidants Market will Reach Revenues Worth $2.6 billion by 2025| Report by MarketsandMarkets™

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Global Plastic Antioxidants Market will Reach Revenues Worth $2.6 billion by 2025| Report by MarketsandMarkets™

February 24
03:36 2023
Global Plastic Antioxidants Market will Reach Revenues Worth $2.6 billion by 2025| Report by MarketsandMarkets™
Plastic Antioxidants Market by Antioxidants Type (Phenolic, Phosphite & Phosphonite, Antioxidant Blends), Polymer Resin (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene), and Region

Antioxidants for plastic are used as additives to stop the deterioration of plastic materials brought on by heat, light, and oxygen. They are employed to maintain the qualities of the plastic material and to increase its lifespan. The most popular plastic antioxidants are phosphates and hindered phenols, which are used to prevent heat oxidation. The need for plastic antioxidants is being pushed by the expansion of the worldwide plastics market as well as the rising use of plastic in electronics, construction, and transportation.

The global plastic antioxidants market size is estimated to be USD 2.0 billion in 2020 and is expected to reach USD 2.6 billion by 2025, at a CAGR of 5.3% during the forecast period. Factors such as plastics replacing conventional materials, increasing demand in medical industry, and rapid urbanization in developing countries will drive the plastic antioxidants market. The major restraint for the market will be adverse effect on health from synthetic plastics antioxidants. However, the untapped demand in the agricultural sector of developing countries will act as an opportunity for the market. 

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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. 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.

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 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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Players in the plastic antioxidants market are mainly concentrating on new product launches, merger & acquisition, and expansions to meet the growing demand for plastic antioxidants for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.

The growth of the plastic antioxidants market has been largely influenced by new product launches that were undertaken between 2016 and 2020. Companies such as BASF and Sumitomo Chemical have adopted new product launches to enhance their market position.

About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. 

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