Polymer Antioxidants Market Size, Share & Industry Analysis, By Type (Primary Antioxidants, Secondary Antioxidants), By End-Use (Packaging, Automotive, Building & Construction, Consumer Goods, Others) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Carbon based materials tends to degrade over period due to the effects of light, atmospheric oxygen, and other environmental factors which cause discoloration and enbrittlement of the objects and further reduces the life span of the materials. Polymer antioxidants are the chemicals added to polymers that inhibit oxidation that takes place when polymer is in contact with atmospheric oxygen. The molding of polymers is done when the polymer is above its glass temperature where there are high chances of polymer reaction with atmospheric oxygen. The sensitivity to oxygen of a polymer depends upon the type of polymer involved.
The increasing demand for polymers and polymer derived products from various end use sectors like automotive, packaging, consumer goods, and other is likely to boost the demand for the polymer antioxidants. The rapidly developing packaging industry due to high demand for packaged goods, foodstuff, and packaging for fragile products to prevent damage is creating positive impact on the market growth. Additionally, the increasing usage of polymers in construction industry shall foster the market growth.
The environmental effects of polymer and plastic are likely to hamper the market growth. Polymers and plastic do not easily degrade which cause soil pollution.
Key Market Driver -
Increasing demand for polymer from packaging and construction industry.
Key Market Restraint -
Environmental effects of polymers and plastic
Market Segmentation:
Based on type, the market is segmented into primary and secondary. Based on end-use, the market is segmented into packaging, automotive, building & construction, consumer goods, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global polymer antioxidants market consists of global & regional players operating. Some of the key players in the material market include BASF, Solvay, Clariant, DuPont, Lanxess , Sumitomo Chemicals , SI Group , Rianlon, and Others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Polymer Antioxidants Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to dominate the market for Polymer Antioxidants due to the high demand for polymers from packaging industry. Moreover, the huge number of manufacturing companies in the region is expected to boost the market. The North America is expected to show significant growth due to the high demand from construction sector. European regions are expected to show moderate growth accredited to the high demand from the automobile sector. Latin America and Middle East and Africa are expected to show considerable growth due to the increasing demand for polyster and polypropylene.
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Segmentation
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Polymer Antioxidants Industry Developments
- In January 2020, BASF announced the expansion of the production capacity of its antioxidant Irganox 1520L by 20% at the manufacturing facility of Pontecchio, Marconi in Italy. The expansion is the response to the increasing demand from the market.
- In December 2019, BASF completed the setup of second phase of new antioxidant manufacturing facility for the Irgafox 168 and Irganox 1076 in Caojing site in Shanghai, China. The plant has annual capacity of 42,000 tons and will mainly serve the customers in China.
- Ongoing
- 2023
- 2019-2022
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