The Global Plastic Antioxidant Market is Projected to Touch USD Billion by 2027, Growing with a CAGR of % From 2020 to 2027.
Published | January 2021
According to BlueWeave Consulting, the Global Plastic Antioxidant Market did reach USD Million in 2019 and is further anticipated to get
to USD billion by 2027, growing at a
CAGR rate of % during the forecast time-frame. Plastic Antioxidants are polymer
additives that are used to protect the plastic materials or articles from
thermally induced oxidation. They are added to plastics to eliminate the usual
degradation process caused by the aforementioned thermo-mechanics and
thermo-oxidative conditions. Antioxidants aid in expanding the life-cycle of a
plastic article, the absence of antioxidants leads to cracking, color, and
structural deterioration, loss of tensile strength and elongation, impact
resistance gets reduced, the surface gets deteriorated, etc.
“Growing preference for Plastics”
The usage and application of plastics in almost every part and every bit of the industries have made their application popular over the sectors such as building & construction, packaging, and automotive. The antioxidants used in these plastics have gained substantial growth due to this, as they enhance the electrical and mechanical properties, along with abrasion resistance, chemical resistance, etc., The usage of other materials like glass, metals, ceramic, and paper have reduced as they’re not as lightweight as plastics, which have accelerated the rate of plastics market to grow affecting several industries. Eventually creating positive market growth.
“Increased adoption of Polymers and Plastics in Automotive industry”
The application of plastics in the automotive industry has increased, due to the rapid innovations that are being done in the performance and safety of automobiles. An instance of airbags could be taken, which are made from high strength polymer fabric that absorbs the impact and reduces the chances of getting a life-threatening injury. Moreover, using plastics in trims, car parts, steering wheels, roof linings, dashboards, fenders has caused the automobile sectors to create light-weight automobile exteriors providing optimum speed and engine efficiency.
“The Asia Pacific to grow significantly”
The Asia Pacific is expected to grow with the highest revenue, demanding the largest share of plastic for the manufacturing of various automotive, electronics, and industrial articles manufacturing. The rapid innovations made in the region in petrochemical and oil & gas industries have led to growing industries and eventual markets. Acrylonitrile Butadiene Styrene resin holds the second most popularity due to its given excellent electrical properties and the structural stability it provides.
The prominent players of the Global Plastic Antioxidants Market are A.Schulman, Adeka Corporation, Ampacet Corporation, Astra Polymers Compounding Co Ltd., Omnova Solutions Inc., Oxiris Chemicals S.A., Rifra Masterbatches S.P.A., SI Group, Solvay, Songwon, Sumitomo Chemical, Trigon Antioxidants Pvt. Ltd., V Sigma S.P.A, Wells Plastics Ltd., BASF, Clariant, Dover Chemical Corporation, Emerald Performance Materials, Evonik Industries, Krishna Antioxidants Pvt. Ltd., Lanxess, Milliken & Company, among various others.
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The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Global Plastic Antioxidant size & forecast. The report promises to provide state-of-the-art technology of the Global Plastic Antioxidant and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.
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