Persistence Market Research delivers key insights on the global phenolic antioxidants market in its latest report titled “Phenolic Antioxidants Market: Global Industry Analysis 2013 – 2017 and Forecast 2018 – 2026”, which examines the Phenolic Antioxidants market and offers critical insights for the next eight years. Based on the findings specified in the report, the long-term outlook for the global Phenolic Antioxidants market is expected to remain positive and the market is anticipated to expand at a value CAGR of 4.3% during the forecast period (2018–2026). Growth in demand for high performance lubricants, increasing adoption of plastic products across numerous end-use industries and increasing applications across food & feed additive industry are some of the factors expected to lay a robust foundation for the growth of the phenolic antioxidants market during the forecast period.
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Phenolic Antioxidants Market: Dynamics
Phenolic antioxidants are primarily used as an additive in the production of rubber and plastic composites. Plastic based products are increasingly gaining traction in the automotive industry and other industrial applications owing to their light weight, superior properties and lower cost as compared to other composite materials. In the automotive industry, plastic is being used for weight reduction, improving vehicle performance and to meet stringent emissive standards. Hence, growing demand for plastic will drive the demand for different additives, such as phenolic antioxidants. Another key factor which is expected to significantly drive the growth of the global phenolic antioxidants market is high demand from the fuel & lubricant segment. High growth in industries, such as infrastructure, oil & gas and automotive mining & metallurgy, to name a few, will increase the demand for specialized lubricants in the market, which in turn, will fuel the demand for phenolic antioxidants in the long-term scenario.
Phenolic Antioxidants Market: Segmentation Overview
- On the basis of type, the multi-functional segment, with its exceptional properties and high stability, is the most preferred type in the phenolic antioxidants market and is expected to remain in the high value-high growth quadrant during the forecast period. Mono-functional phenols are gaining substantial traction in the phenolic antioxidants market owing to high demand from plastic and rubber processing applications
- Among source type segments, the synthetic segment is estimated to remain dominant in the global phenolic antioxidants market. However, the natural phenolic antioxidants segment is pegged to exhibit significant growth during the forecast period owing to high demand from food & feed additive applications
- By application, the plastic and rubber processing segment accounts for a significant share in the global phenolic antioxidants market. With robust growth in demand for plastic and rubber from numerous applications in different end-use industries, the demand for phenolic antioxidants is also expected to increase. Among other applications, food & feed additive & pharmaceutical and personal care segments account for relatively low demand
Phenolic Antioxidants Market: Regional Overview
China dominated the global phenolic antioxidants market in 2017 with over one-fourth of the global volume share. The China phenolic antioxidants market is anticipated to witness robust growth in the coming years, pushed by rapidly growing industrial growth and increasing automotive production. The South East Asia & Pacific region is anticipated to follow the China phenolic antioxidants market in terms of growth and is estimated to register 1.5X growth during the forecast period. Europe and North America are estimated to have collectively accounted for 40% of the global phenolic antioxidants market in 2017. North America and Europe markets are expected to exhibit moderate growth during the forecast period. Furthermore, in European region, the top 5 countries are estimated to hold about 70% of the total phenolic antioxidants demand in the region.
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Phenolic Antioxidants Market: Vendor Insights
The report highlights some of the leading companies operating in the global Phenolic Antioxidants market, such as BASF SE, SONGWON, Adeka Corporation, SI Group, Addivant, Dorf Ketal, Lanxess AG, Emerald Performance Materials, LLC, Jiyi Chemicals Co., Ltd., Krishna Antioxidants Pvt. Ltd., Mayzo Inc. and Clariant AG. Prominent players across the global phenolic antioxidants market universe are focusing on acquisition and expansion of their production capacity for phenolic antioxidants to increase their market share in the global market.