U.S (New York)– The “Plastic Antioxidants Market ” 2023 research report appears to cover various aspects of the market, including the strategies of top players, market segments, competitive landscape, manufacturing, and pricing structures. In this report, we will provide an in-depth analysis of the current state of the global Plastic Antioxidants Market , its key drivers and challenges, and its future prospects. This study contains research on market dynamics, such as SWOT, PESTLE, and Porter’s Five Forces analysis, as well as details about drivers, constraints, trends, and opportunities. These studies may assist in providing a thorough overview of the worldwide industry. Additionally, the key segments of the industry are evaluated according to their performance.
The global plastic antioxidants market was valued at $3,020.9 million in 2018, and is projected to reach $4,962.2 million by 2026, growing at a CAGR of 6.4% from 2019 to 2026. Antioxidants are chemicals that reduce or control the degradation process of plastics. They help in terminating the process of auto oxidation and are commonly used as plastic additives in approximately 95% of plastic products. They are categorized into five types, namely, primary antioxidants, secondary antioxidants, multi-functional antioxidants, hydroxylamines, and carbon-centered radical scavengers. Antioxidants are plastic additives that help in eliminating plastic degradation process to extend the overall plastic lifecycle. Therefore, growth in plastic production and its resulting demand in various end-use industries is the major factor that drives the growth of this market. Plastics are cost-effective in nature as compared to other material, such as metals, for which there is a significant demand in the market to fulfill manufacturing needs.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The automotive industry is shifting toward building fuel-efficient vehicles and hence manufacturers are looking for various materials to reduce the overall vehicle weight. In such condition, plastic has a proven track record that not only reduces vehicle weight but also lowers the costs over metals. As a result, plastic is highly preferred in the automotive industry; thereby, boosting the demand for plastic antioxidants. On the other hand, being crude-based product, plastic leads to few health and environmental hazards that restrains the overall market growth. Moreover, increase in use of plastic in the agriculture sector is expected to offer new growth opportunities for the market during the forecast period.
The global plastic antioxidants market is segmented on the basis of type, polymer resin, form, and region. Depending on the type, the market is fragmented into phenols, amines, phosphites, organic sulfides, antioxidant blends, and others. Depending on the polymer resin, it is categorized into polyethylene, polypropylene, polyvinyl chloride, polystyrene, acrylonitrile butadiene styrene (ABS), and others. Based on form, the market is bifurcated into solid and liquid. Region wise, the global market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
? The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global plastic antioxidant market from 2018 to 2026 to determine the prevailing opportunities.
? A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
? Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
? Profiles of leading players operating in the market are provided to understand the global competitive scenario.
? The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
KEY MARKET PLAYERS
– BASF SE
– SI Group
– Solvay S.A.
– Clariant AG
Songwon
– Sumitomo Chemical Co., Ltd.
– Dover Chemical Corporation
– Everspring Chemical Co., Ltd.
– Amfine Chemical Corporation
– 3v Sigma USA Inc
The other players in the value chain include Omnova Solutions Inc., Oxiris Chemicals S.A., Rifra Masterbatches S.P.A, Lanxess, Krishna Antioxidants Pvt. Ltd., and others.
KEY MARKET SEGMENTS
– 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
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? Italy
? Spain
? UK
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? South Korea
? Australia
? Rest of Asia-Pacific
o LAMEA
? Brazil
? Saudi Arabia
? South Africa
? South Africa
? LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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