The Global Plastic Antioxidant Market was valued at USD 2.84 Billion in 2022 and is projected to reach USD 4.45 Billion by 2030, registering a CAGR of 5.60% for the forecast period 2023-2030.
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Market Definition
Additives called antioxidants are used in the manufacturing of plastic. They are put into plastic to stop the thermo-oxidative and thermo-mechanical degradation processes. Antioxidants contribute to increased color deterioration, tensile strength, elongation, decreased impact resistance, cracking, and other surface deterioration, as well as an extended life cycle for plastic. The industry life cycle of the global plastic antioxidants market is currently in its growth phase, and this growth is anticipated to continue during the forecast period. In the process of making plastic, these antioxidants stop the degradation of plastic. Moreover, the need for plastic antioxidants is increased by the growing use of plastic. The absence of an ideal and financially feasible alternative to plastic that has been introduced to the market is the reason behind the anticipated substantial growth of the plastic antioxidants market over the next few decades.
Market Size:
- 2022: USD 2.84 Billion
- 2030: USD 4.45 Billion
- CAGR (2023-2030): 5.60%
Plastic Antioxidant Market Dynamics
Drivers Propelling the Demand for Plastic Antioxidants include:
Plastics are becoming more popular than traditional materials to fuel market expansion:
Many different types of polymers, including PE, PP, and PVC, contain antioxidants. These polymers find application in the building and construction, automotive, and packaging industries. Plastics outperform traditional materials like metals, glass, paper, and ceramics in terms of mechanical and electrical qualities, improved abrasion resistance, and superior chemical resistance. Plastics are taking the place of metals, glass, paper, and ceramics in the packaging, building & construction, and automotive industries due to ongoing innovation and the need for lighter materials in various industries, Plastics have aided in several advancements in performance, safety, and fuel economy in the automotive sector, particularly in the design of automobiles. For example, in a frontal collision, airbags composed of high-strength polymer fabric can lessen the chance of fatal injuries. Child safety seats, roof linings, dashboards, fenders, fuel systems, headlamp covers, and other external components that are in direct contact with heat and light are among the other innovations, this factor fueling the growth of the Plastic Antioxidant market.
For instance, in May 2023, in according to agood company, Traditional plastics are synthetic materials made from non-renewable resources, such as petroleum, coal, or natural gas, and are produced through a process known as polymerization. The process involves heating and combining small molecules, called monomers, to form long chains of polymers. These polymers are then molded or shaped into various forms to create the products we use in our everyday lives. Traditional plastics have several desirable properties, such as being lightweight, durable, and versatile, which have made them a popular choice for a range of applications.
Increasing demand for polypropylene to Continue Driving Market Growth:
One of the thermoplastic resins that is most frequently used worldwide is polypropylene. It is used in many different industries, such as consumer goods, textiles, construction materials, automotive components, and packaging. Because polypropylene is used so widely in so many different industries, there is a big need for additives like antioxidants to make the plastic more resilient and long-lasting. When polypropylene is exposed to environmental elements like heat, oxygen, and UV radiation, it can degrade oxidatively. This deterioration may result in the material losing its mechanical qualities, discoloring, and generally degrading. Polypropylene formulations are fortified with antioxidants to impede or decelerate these oxidative processes. The importance of product sustainability and durability is becoming more widely recognized, and this has led to a greater emphasis on polymer stabilization, Antioxidants work as stabilizers, prolonging the life and functionality of polypropylene-based products by reducing or stopping polymer degradation. There is an increasing need for polypropylene in sectors like textiles, construction, automotive, and packaging. The need for plastic antioxidants to shield these products from oxidative degradation is a result of the increased demand for end-use products, which in turn increases the need for polypropylene resin. Industrialization and economic expansion both led to a rise in manufacturing across several industries. The need for plastic materials, especially polypropylene, increases as industries grow. Antioxidants are therefore more in demand to preserve the integrity of products based on polypropylene. this factor driving the growth of the Plastic Antioxidant market.
For instance, in December 2022, according to Exxon Mobil, ExxonMobil today announced the successful startup of its new polypropylene production unit at the Polyolefins Plant in Baton Rouge, Louisiana.
Recent Developments
In April 2023, BASF announced today that it has received the International Sustainability and Carbon Certification (ISCC) PLUS for certain grades of plastic additives produced at its manufacturing sites in Kaisten, Switzerland, and McIntosh, Alabama, United States. This certification will enable BASF to offer more sustainable grades of its core plastic additives with a reduced Product Carbon Footprint (PCF) through the use of renewable raw materials in a mass balance approach.
In April 2022, Solvay and Carbios successfully demonstrated that multi-layer PET1 films coated with Diofan PVDC2 high-barrier polymer are fully compatible with enzymatic depolymerization - Carbios’ innovative recycling process. Results show that the PET is fully depolymerized, whereas the PVDC remains intact.
Restraint
Impact of Synthetic Plastic Antioxidants on Health Impedes Market Growth:
Plastics are made more thermally stable and structurally protected by the addition of antioxidants. However, artificial antioxidants that are frequently used for polymers like PP and HDPE, like 2,6 di-tert-butyl-p-cresol (BHT), hurt human health. A study claims that in test animals, BHT results in endocrine effects, tumors, and mutations. Human allergic reactions are also brought on by it. Research findings indicate that measurable levels of BHT, Chimassorb 81, Irganox PS 800, Irganox 1076, and Irganox 1010 are released into food contents by LDPE, HDPE, and PP bottles. These antioxidants can cause endocrine disruption, which can result in cancer, congenital defects, problems with child development, and immune system suppression, Plastics containing these antioxidants are used to make a variety of building materials, automobile parts, food packaging, and household appliances. These dangerous substances seep into the human body from the plastic. Because of its detrimental effects on health, there is a declining demand for phenolic antioxidants. this factor hinders the growth of the Plastic Antioxidant market.
For instance, in May 2021, the most commonly affected molecular functions included steroid hormone receptor activity implicated in cancer, mental disorders, immune signaling, and gonadotropin-releasing hormones. These processes and functions affected by plastic additives are related to the diseases of the developed world, most of which are linked to the endocrine system, such as cancer, diabetes, infertility, and obesity.
Challenges
Environmental impact.
Like many other plastic additives, some plastic antioxidants may linger in the environment long after plastic products are disposed of. These substances have the potential to harm ecosystems and wildlife by contributing to long-term environmental pollution if they are not managed properly. It's possible for some antioxidants to bioaccumulate in aquatic life and other living things. Chemicals can build up in an organism's tissues over time and potentially reach concentrations that are hazardous to both the organism and those higher up the food chain. This process is known as bioaccumulation. Certain antioxidants found in some plastic additives have been linked to endocrine-disrupting effects. Endocrine disruptors have the potential to negatively impact immune, developmental, and reproductive processes by interfering with the hormonal systems of living things. Antioxidants contained in plastic can contaminate soil and water if they are disposed of improperly. The quality of soil, groundwater, and surface water may be impacted by the release of these chemicals into the environment, which could have an impact on aquatic and terrestrial ecosystems. The regulatory examination of plastic additives has increased as a result of growing environmental consciousness. To reduce environmental risks, regulatory bodies may establish strict guidelines for the manufacturing and disposal of certain antioxidants or restrict the use of certain antioxidants.
Opportunities
Unrealized Potential in Developing Nations' Agricultural Sector
In the agricultural sector, plastic is used in mulch films, greenhouse film covers, shades, netting, and silage strap wrap. To encourage plant growth, high light transmission is provided by the plastics used in the agricultural industry. Agricultural plastics must be resistant to both mechanical stress and intense solar radiation. Antioxidants are therefore used to give agricultural plastics processing stability, thermal stability, and discoloration resistance. The advantages of plastics in the agriculture sector have not been thoroughly investigated in nations like India. In developing nations, post-harvest losses from spoiling and incorrect storage account for 25–30% of harvested crops. By extending the shelf life of grains, fruits, and vegetables, plastic antioxidants can lower these losses and increase food security. Additional measures to improve food availability and accessibility include the use of plastic bins and silos treated with antioxidants as part of an improved storage infrastructure. Produce that has been stored may lose important vitamins and nutrients due to oxidation. By minimizing this degradation, antioxidants added to packaging materials or directly applied to crops can maintain nutritional value and encourage healthier diets. This is especially important in developing countries, where access to a variety of nutrient sources can be restricted and malnutrition rates are frequently high. This is a significant opportunity for the Plastic Antioxidant market.
Snapshot:
| Attributes | Details |
| Market Size in 2022 | USD 2.84 Billion |
| Market Forecast in 2030 | USD 4.45 Billion |
| Compound Annual Growth Rate (CAGR) | 5.60 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Polymer Resin & By Region |
| By Type |
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| By Polymer Resin |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2018 - 2022 |
| Forecast Year | 2023 - 2030 |
Segment Analysis of the Plastic Antioxidant Market
The Plastic Antioxidant Market is segmented by type, polymer resin, and region.
By Type
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The Phenolic segment held the largest market share in 2022:
By Type is sub-segmented into Phenolic, Phosphite & Phosphonite, Antioxidant, and others. The Phenolic segment accounted for the highest market share in the global Plastic Antioxidant market for 2022. chain breaking and preventive mechanisms. Preventive, or secondary antioxidants, and chain-breaking, or primary antioxidants, are the two categories of antioxidants that have been found. Since primary antioxidants react quickly, they are also known as radical scavengers. Primary antioxidants called phenolic antioxidants stop the free radicals from spreading and obstruct the chain reaction. Because they cause peroxides and free radicals to form, they are used for plastics and polymer systems that are susceptible to oxidative and thermal degradation. When processing polymers at high temperatures, phenolic antioxidants shield them from oxidation and degradation.
On the other hand, the Antioxidant segment has a significant market share over the forecast period, due to Antioxidants are essential for shielding plastics from heat, UV light, and oxidation-related deterioration. This keeps plastic products functional and increases their lifespan, which makes them an essential part of many applications. Plastic products ranging from food packaging and medical equipment to building supplies and auto components all contain antioxidants. Their market share is greatly influenced by their broad applicability across numerous industries.
By Polymer Resin
The PP segment was the leading segment in 2022:
Polymer Resin is divided into PE, PP, PVC, PS, ABS, others. PP segment accounted for the largest share of the global Plastic Antioxidant market in 2022. Because it contains tertiary carbon atoms, it is prone to thermal degradation and oxidation at high temperatures. When polypropylene is processed, it degrades to form low molecular weight products at temperatures between 428°F and 536°F. To stabilize PP, antioxidants are thus added. During the manufacturing and palletizing processes, antioxidants are added. Typically, PP is treated with two types of antioxidants: secondary antioxidants, such as phosphorite and butylated hydroxyl-toluene (BHT), and primary antioxidants, such as phosphite and phosphonite.
PE (polyethylene) segment is anticipated to register rapid growth in the forecast period, since polyethylene is used in so many different industries, it is a strong and lightweight plastic that is produced more than 100 million tons annually. It is utilized in a variety of markets, such as packaging, automotive, electronics, and others, as films, tubes, plastic parts, laminates, and other materials. Polyethylene and its derivatives, including HDPE, LDPE, and LLDPE, are mostly consumed in the packaging industry, which makes up about 35% of the market relative to other markets.
Regional Analysis
Asia Pacific occupied the largest market share in 2022:
Asia Pacific has the largest revenue market share 45% in 2022, The building and construction, packaging, automotive, and other industries in Asia Pacific are expanding due to the region's growing population and rising disposable income. This is propelling the market for plastics and, by extension, plastic antioxidants. The area is distinguished by expanding economic activity and a populace. The region is expected to become a prime location for the plastics industry due to its growing population and rising construction spending in China, India, and Indonesia, which are developing their markets. Shortly, it is anticipated that this will propel the plastic antioxidants market.
On the other hand, Europe accounted for a significant share over the forecast period, Market segments for plastic antioxidants in Europe include Russia, Poland, Germany, France, the UK, Italy, Spain, and the rest of the continent. In Europe, Germany is the biggest market for antioxidants made of plastic.
The growth of the plastic antioxidants market in the region is driven by the increasing demand for plastics from a variety of industries, including packaging, building & construction, automotive, electronic & electrical, agriculture, consumer & household goods, and furniture. Eastern Europe's packaging sector has a lot of unexplored potential, which bodes well for the region's plastic antioxidants market.
Competition Analysis
- BASF SE
- SONGWON
- Adeka Corporation
- Solvay
- SI Group, Inc
- Clariant
- Sumitomo Chemical Co,Ltd
- 3V Sigma S.P.A
- Dover Chemical Corporation
- Everspring Chemical Co., Ltd.
- Ampacet Corporation
- LyondellBasell Industries Holdings B.V.
- Astra Polymers, corporate
- Evonik
- Lanxess
- Milliken & Company
- OMNOVA Solutions Inc.
- Oxiris Chemicals S.A..
- Wells Plastics
- Sakai Chemical Industry Co., Ltd.
- Shandong Linyi Sunny Wealth Chemicals Co., Ltd.
- Trigon Antioxidants Pvt. Ltd.
Segmentation Analysis of the Plastic Antioxidant Market
By Type
- Phenolic
- Phosphite & Phosphonite
- Antioxidant
- Others
- PE
- PP
- PVC
- PS
- ABS
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Impact of the COVID-19 Pandemic on the Plastic Antioxidant Market:
Demand increased for certain industries, including medical supplies (PPE kits, syringes), packaging for necessities (food, hygiene products), and durable medical equipment (ventilators, catheters). The demand for the particular antioxidants used in these applications experienced a brief spike as a result. Increased use of plastic packaging in a variety of industries was spurred by increased awareness of sanitation and hygiene practices; this could be advantageous for the antioxidant market serving that market. The demand for plastic packaging increased due to the growth of e-commerce, which may have an effect on the market for certain antioxidants used in these materials. The global supply chain for chemicals and raw materials, including those used in the production of plastic antioxidants, was disrupted by lockdowns and restrictions. Production delays, price fluctuations, and shortages resulted from this. Investments in several industries, including the production of plastics, were impacted by the economic slowdown caused by the pandemic. This hindered market expansion and impacted the demand for specific antioxidant varieties. Some manufacturers may have chosen cost-effectiveness over quality in response to economic pressures, which could have resulted in the use of inferior or less effective antioxidants in some applications.
