Europe Phenolic Antioxidant Market, By Source (Natural and Synthetic); By Application(Plastic & Rubber, Fuel & Lubricants, Cosmetic & Personal Care, Food & Feed Additive, and Others) By Country (Germany, UK, France, Italy, Spain, Russia, Poland, Rest of Europe)Trend Analysis, Competitive Market Share & Forecast, 2018-2027

Published:
April 2021
Report Code:
BWC20308
Available Format:
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Pages:
179

europe phenolic antioxidant market

Europe Phenolic Antioxidant Market – Industry Trends & Forecast Report 2027

The Europe phenolic antioxidant market has reached USD 307,302.72 thousand in 2020, and is further projected to reach USD 367,651.0 thousand by 2027, at a CAGR of 2.72% during the forecast period (2021-2027).Growing demand for the product to prevent plastic degradation as to prevent plastics from getting degraded or oxidized during the manufacturing and other processes phenolic antioxidants are added which drives the market growth. In addition, surging demand for plastics in place of conventional materials further drive the market growth of the Europe phenolic antioxidant market.


Source: BlueWeave Consulting



Europe Phenolic AntioxidantOverview:

One of the major changes that occur during the processing, distribution, and final preparation of any product is the oxidation of the product. As the name suggests, antioxidants are one of the principal ingredients to prevent the oxidants and protect the integrity of the product. Classic route of the oxidation involves three steps. Initiation (production of free radicals), propagation, and termination (production of non-radical products). Antioxidants interfere with the oxidation process by reacting with radicals, or chelating with catalytic metals, or by scavenging oxygen.

Phenolic antioxidants interfere with the oxidation process as free radical terminators, and sometimes as metal chelators. Phenolic compounds and their derivatives efficiently prevent oxidation, but only few of the phenolic antioxidants are allowed to be used as food additives. Activity and potential toxicity of the phenolic antioxidants are major parameters considered before allowing the use as food additives.


Europe Phenolic AntioxidantForecast and Trend

Growth Drivers 


Growing Demand for the Product to Prevent Plastic Degradation and Oxidation

Plastics are a ubiquitous part of our daily lives. It is hard to imagine life without plastic. Though plastics are perceived as indestructible and non-degradable, they can be easily degraded and oxidized during processing and manufacturing. To prevent plastics from getting degraded or oxidized during the manufacturing and other processes, some stabilizers are added. This is where phenolic antioxidants come into play. Phenolic antioxidants prevent the oxidation of plastics in several ways. They form chelates with metals very easily, thereby preventing oxidation.

Phenolic antioxidants are generally known as primary antioxidants and they function by destroying peroxy-radical intermediates in the oxidation process. Effective over a wide range of temperatures, they provide protection during processing, end-use, and long-term storage. Phenolic antioxidants, when used as a processing stabilizer, minimizes the changes in melt viscosity and prevents decoloration of plastics.The ever-growing demand for phenolic antioxidants from the plastics industry is expected to affect the market positively and drive the growth of the European phenolic antioxidant market during the forecast period.


Surging Demand for Plastics in Place of Conventional Materials

Researchers and companies are regularly developing new and innovative plastics to replace costly metals from daily use items. Plastic injection molding is one of the methods to produce complex plastic parts without much trouble. Injection molding of plastics is not only simple, easy, and reliable but also highly efficient. As per the data of PlasticsEurope, a leading Pan-European association, European plastic production reached 61.8 million tonnes in 2018 and 57.9 million tonnes in 2019, with Europe producing 16% of global plastic volume manufactured.

According to PlasticsEurope, the plastics market is currently the 7th largest in Europe. Germany contributed almost 24% of total European plastic demand followed by Italy and France with almost 13% and 10% in 2019. Phenolic antioxidants provide stability to plastics at high temperatures and prevent decoloring of the plastics. Most of the phenolic antioxidants used for preventing degradation and oxidations of plastics are natural and have little to no side effects on the human body. This makes them perfect to be used as processing stabilizers and antioxidants in plastics. With Europe’s plastics market expected to show appreciable growth during the forecast period, the demand for phenolic antioxidants is also expected to witness a surge in demand, thereby driving the growth of the European`` phenolic antioxidants market.


Restraints

Adverse Health Effects of Synthetic Phenolic Antioxidants and Related Regulations

While natural phenolic antioxidants are not associated with any side-effects, synthetic phenolic antioxidants like BHA (Butylated hydroxyanisole), BHT (Butylated hydroxytoluene), and TBHQ (Tert-Butylhydroquinone) are associated with many side effects. Synthetic phenolic antioxidants are generally used as food additives. When used in excessive quantity or incorrectly, synthetic phenolic antioxidants may lead to carcinogenicity, cytotoxicity, oxidative stress induction, and endocrine-disrupting. BHT can induce apoptosis and promote tumorigenesis, while BHA is associated with the carcinogenicity process. TBHQ promotes cancer by inducing TQ and CYP1A1. Several studies have linked BHA and BHT with cancer generation and oxidative stress, along with several other diseases. These side-effects of BHA, BHT, and TBHQ are expected to affect the market negatively and hamper the growth of the Europe phenolic antioxidant market during the forecast period.


Impact of COVID-19 in the industry

COVID-19 has affected supply chains across all the industries all over the world. Just when European chemical supply chains were reviving slowly after governments decided to finally ease the lockdown restrictions, the second wave of COVID-19 struck Europe prompting some countries to enforce tight lockdown regulations once more. Countries in Central Europe, Czech Republic, Slovakia, Hungary, and Poland are all bracing itself for the third wave of COVID-19. When European countries first implemented lockdown in March-April, 2020, it set off a domino effect that ultimately resulted in transportation and packaging content shortages. Distributors with diversified offerings were less affected; nevertheless, product demand is still low.

The Europe phenolic antioxidant market also witnessed a decrease in product demand from end-use industries. European Association of Chemical Distributors (FECC) is expecting that COVID-19 will guide companies to focus more on reinforcing their domestic supply chain rather than going international. However, it also added that this may take time. “At this point in time I would not speak of a genuine shift, but local and regional supply chains might get a renewed impetus as complementary sources or fall-back options as a result of Covid-19. Probably, we will also see more strategic alliances emerging” said Dorothee Arns, Director General of the European Association of Chemical Distributors (FECC).


Europe Phenolic AntioxidantMarket: By Source

Europe phenolic antioxidant market is segmented into synthetic and natural phenolic antioxidant segments. The synthetic phenolic antioxidants segment dominated the market of Europe phenolic antioxidants with more than 75% of market share, and the segment was valued at USD 232,447.73 thousand in 2020 and is expected to grow with a CAGR of 2.61% during the forecast period. This growth can be attributed to the as there is wide range of synthetic type antioxidants which helps end-users to choose from. In addition, synthetic antioxidants are cheaper and the extraction process is simpler as compared to natural antioxidants owing to which synthetic phenolic antioxidant.


Source: BlueWeave Consulting

 

Europe Phenolic AntioxidantMarket: Regional insights



The Europe Phenolic Antioxidant market is segmented into Germany, UK, France, Italy, Spain, Russia, Poland, and Rest of Europe, wherein Germany accounts for highest share. According to the Federation of German Food and Drink Industries (BVE), the total turnover from the German food & drink industry was worth more than USD 220 billion in 2019 with bakery products contributing 9.8% share, confectionary& long-life bakery products contributing 7.2% share, animal nutrition contributing 5.8% share, and oils and fats contributing 3.1% share. One of the major concerns with such a large food industry is food preservation, which is where phenolic antioxidants come into play. Phenolic antioxidants are used to preserve the taste and aroma of food while preventing the rancidification of the food. This property of antioxidants has contributed largely towards the growing market of phenolic antioxidants in Germany.

 

Competitive landscape

Key Players for phenolic Antioxidant Market Includes: -BASF SE, 3V Sigma S.P.A, SI Group INC,Koninklijke DSM N.V, Lanxess AG, Raschig Gmbh,AllScripts Healthcare,Epic Systems Corporation, Cerner HealthCare, Philips HealthCare Services, GE HealthCare Services, McKennson Corporation, and other prominent players. The market players compete on the basis of the given product quality and the new and cost effective manufacturing process, which can give them better yield and optimize the process for more and better production.

 

Recent Development

·         On Feb 10, 2021: LANXESS inaugurates nitrous oxide reduction plant in Antwerp - LANXESS has taken another major step on the road to climate neutrality: the specialty chemicals company inaugurated a nitrous oxide reduction plant at its site in Antwerp on February 10, Belgium.

·         On Nov 18 2020: Royal DSM, a global science-based company active in nutrition, health and sustainable living, today officially opened a new Animal Nutrition & Health premix plant in Baishazhou Industrial Park, Hengyang City. The site is DSM’s second premix plant in Hunan Province and the seventh of its kind in China, underlining DSM’s deep commitment to the country. The new plant aims to meet increasing local demand for high-quality premix solutions and significantly expands DSM’s footprint in China.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2018-2020

Base Year – 2021

Forecast – 2021 – 2027

Facts Covered

Value in USD Thousand

Volume in KG

Market Coverage

Germany, UK, France, Italy, Spain, Russia, Poland, Rest of Europe

Product/Service Segmentation

By source,applications, and country

Key Players

Key players for Phenolic Antioxidant market includes:BASF SE, 3V Sigma S.P.A, SI Group INC,Koninklijke DSM N.V, Lanxess AG, Raschig Gmbh,AllScripts Healthcare,Epic Systems Corporation, Cerner HealthCare, Philips HealthCare Services, GE HealthCare Services, McKennson Corporation, and other prominent players

 

Scope of the Report

By Source

Ø  Synthetic

Ø  Butylated hydroxyFanisole (BHA)

Ø  Butylated hydroxytoluene (BHT)

Ø  Tert-Butylhydroquinone (TBHQ)

Ø  Ethoxyquin

Ø  COQUbiquinone

Ø  Prolpyl Gallate

Ø  Others

Ø  Natural

Ø  Flavonoids

Ø  Catequine (Catechin)

Ø  Quercetine

Ø  Anthocyanins

Ø  Ascorbic Acid

Ø  Stilbenes

Ø  Resveratrol

Ø  Phenolic Acids

Ø  Gallic Acid

Ø  Rosmarinic Acid

Ø  Cafeic Acid

Ø  Tannins (Tannoids)

Ø  Tocopherols

Ø  Others

By Application

Ø  Plastic & Rubber

Ø  Fuel & Lubricants

Ø  Cosmetic & Personal Care

Ø  Food & Feed Additive

Ø  Others

By Country

Ø  Germany

Ø  By Source

Ø  By Application

Ø  UK

Ø  By Source

Ø  By Application

Ø  France

Ø  By Source

Ø  By Application

Ø  Russia

Ø  By Source

Ø  By Application

Ø  Spain

Ø  By Source

Ø  By Application

Ø  Italy

Ø  By Source

Ø  By Application

Ø  Poland

Ø  By Source

Ø  By Application

Ø  Rest of Europe

Ø  By Source

Ø  By Application

 

FAQs

 

1.    What is the current size of the Europe phenolic antioxidant market?

Answer: The Europe phenolic antioxidant market has reached USD 307,302.72 thousand in 2020.

2.    What are the major factors driving the growth of Europe phenolic antioxidant market?

Answer: The major factors driving the growth of Europe phenolic antioxidant market are growing demand for the product to prevent plastic degradation and surging demand for plastics in place of conventional materials.

3.    Who are the key players in the Europe phenolic antioxidant market?

Answer: The key players in the Europe phenolic antioxidant market BASF SE, 3V Sigma S.P.A, SI Group INC, Koninklijke DSM N.V, Lanxess AG, Raschig Gmbh, AllScripts Healthcare, Epic Systems Corporation, Cerner Healthcare, Philips HealthCare Services, GE HealthCare Services, McKennson Corporation, and other prominent players

4.    Which source type accounted for the largest share in the Europe phenolic antioxidant market?

Answer: Synthetic by source type accounted for the largest share in the Europe phenolic antioxidant market.

5.    Which country growing at a higher rate in the Europe phenolic antioxidant market?

Answer: Germany is growing at a higher rate in the Europe phenolic antioxidant market.

 



 

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