Global Plastic Antioxidants Market is Expected to Witness High Growth USD 5.27 b… – Press Release

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Newark, NJ, May 22, 2022 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, The global plastic antioxidants market is expected to grow from USD 3.21 billion in 2019 to USD 5.27 billion by 2027, at a CAGR of 6.4% during the forecast period 2020-2027. Asia Pacific has the highest growth in market share in global plastic antioxidants. Further, It is expected to show the largest market share in global plastic antioxidants over the forecast period due to increased demand from packaging and automotive industries in this region. Moreover, a rise in the demand from various application segments and increased investments by private manufacturers are contributing to the growth of the Asia Pacific market.

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Key players in the global plastic antioxidants market are SI Group, Clariant AG, Sumitomo Chemical Co. Ltd., Everspring Chemical Co. Ltd., 3v Sigma Inc., Oxiris Chemicals S.A., Lanxess, Krishna Antioxidants Pvt. Ltd., BASF SE, Songwon, Amfine Chemical Corporation, Solvay S.A., Omnova Solutions Inc., Rifra Masterbatches S.P.A. and Dover Chemical Corporation. The major players are implementing various strategies such as agreement, business expansion and product launch to maintain competition in the market. BASF is the producer of plastic antioxidants and has undertaken different growth strategy, including development in the plastic antioxidants market. The company has opened a new antioxidant manufacturing plant in Shanghai. For Irganox 1010, The company has also expanded its production capacity globally. From its regional supply points, the company is aiming to cater to the increased demand from customers in the Middle East & Africa, Asia, and Europe.

The antioxidant type segment includes antioxidant blends, organic sulfides, phosphites, amines and phenols. Blends are superior to the other type of antioxidant. Blends of phenols and phosphites is beneficial in the melt-process…

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