Global Plastic Antioxidants Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Plastic Antioxidants market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global plastic antioxidants market size was US$ 2.1 billion in 2021. The global plastic antioxidants market is forecast to grow to US$ 3.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
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Antioxidants are chemicals that function as stabilizers. These stabilizers interact with reactive species to break them down and halt the oxidation process. They stop the oxidation of plastics and other materials caused by heat. Two categories of antioxidants are used in polymers: primary antioxidants and secondary antioxidants.
Factors Influencing the Market
Plastics are gaining significant traction due to their beneficial properties. Plastics are preferred over conventional materials because of their properties like abrasion resistance and chemical resistance. Antioxidants are used in the manufacturing of a variety of polymers, including PE, PP, and PVC. Apart from that, the low cost of polymers, combined with their lightweight, will drive the global plastic antioxidants market forward during the forecast period.
The wide applications of plastic antioxidants across various verticals, such as packaging, building, construction, and automobiles, will fuel the growth of the market during the study period.
Growing efforts by renowned industry players are expected to offer lucrative growth opportunities for the market. For instance, BASF SE launched its new antioxidant production factory in 2019 in China. With the launch of this factory, the firm aims to increase the production of phenolics, amines, phosphites, mixes, etc. Thus, such investments are expected to benefit the overall plastic antioxidants market during the forecast period.
On the flip side, the negative health effects of synthetic plastic antioxidants may limit the growth of the market during the study period.
Regional Analysis
The Asia-Pacific plastic antioxidants market is forecast to record the highest growth rate. The growth of this regional market is attributed to the rising use of plastics for packaging and other purposes. In addition, rising disposable income in nations like China and India and growing demand for automotive, consumer goods, etc., are expected to offer lucrative growth opportunities for the market. Rapidly growing population and economic expansion will also contribute to the growth of the market during the study period.
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COVID-19 Impact Analysis
The COVID-19 pandemic halted the growth of the plastic antioxidants market. The COVID-19 outbreak wreaked havoc on the economic conditions of various nations. Governments imposed strict regulations that halted the movement of the people. As a result, it affected the growth of the plastic antioxidants market.
Competitors in the Market
? A.Schulman
? Ampacet Corporation
? BASF SA
? Dover Chemical Corporation
? Clariant
? Emerald Performance Materials
? Evonik Industries
? 3V Sigma S.P.A
? Adeka Corporation
? Lanxess
? Everspring Chemical Co., Ltd.
? Krishna Antioxidants Pvt. Ltd.
? Other Prominent Players
Market Segmentation
The global plastic antioxidants market segmentation focuses on Type, Form, Polymer Resin, and Region.
By Type
? Phenols
? Amines
? Phosphites
? Organic Sulfides
? Antioxidant Blends
? Others
By Form
? Solid
? Liquid
By Polymer Resin
? Polyethylene
? Polypropylene
? Polyvinyl Chloride
? Acrylonitrile Butadiene Styrene
? Polystyrene
? Others
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
Key questions answered in the global Plastic Antioxidants market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Plastic Antioxidants market over the forecast period?
- What are the factors driving and restraining the market for Plastic Antioxidants?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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