Global Phenolic Antioxidant Market was valued at US$ 1.69 Mn in 2019 and is expected to reach US$ 2.40 Mn by 2027, at a CAGR of 5.10 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding phenolic antioxidant market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in phenolic antioxidant market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Phenolic antioxidants are compounds that stay autoxidation by inhibiting formation of free radicals or by interrupting propagation of the free radical through the donation of an electron or hydrogen atom. The global phenolic antioxidant market can be segregated into natural and synthetic segment based on source.
Among these segment, synthetic phenolic antioxidant is the most sought out segment and accounts for highest shares in the market in terms of value and volume. The global phenolic antioxidant market is anticipated to exhibit a healthy single digit growth rate over the forecast period and expected to reach US$ 2.40 Bn by 2026 end. Phenolic antioxidant can also preserve food by the deactivation of metal ions and singlet oxygen. Based on the inhabitants of free radical formation property, these antioxidants are widely used in several applications include, plastic & rubber, pharmaceutical, cosmetics, fuel & lubricant and other.
Due to increasing use in cosmetics, food, and Plastics & Rubber, the global market for antioxidants is looking forward to fast growth through 2026. Antioxidants are gradually in demand as an additive in rubber, particularly in the Asia-Pacific region, where demand for tires is growing. The rise in demand for packaged food items, which use antioxidants in the protective process, is boosting sales as well in the forecast period.
Based on Source, the synthetic phenolic antioxidant segment is anticipated to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. In forecasted period, the synthetic Phenolic Antioxidants is poised to hold dominance owing to the growing demand as an additive in plastic & rubber, fuel & lubricant industry. Natural Phenolic Antioxidants are holds least share in the global phenolic antioxidant market. The natural phenolic antioxidant comprises flavonoids, anthocyanins, tanins, and phenolic acids. Phenolic Antioxidants are mainly used as additives and helps to prevent the oxidation of the product.
In terms of application, Phenolic antioxidants are widely used as preservative during the production of plastics and rubber. Due to its exceptional properties, plastic is getting adopted at an exponential rate in many industries. To provide better efficacy & workability in tough conditions, such as high temperature & high pressure conditions, plastic additives are used as they slow down or minimize the degradation of plastic products. Phenolic antioxidants are used as antioxidant additives in polymer processing as phenolic antioxidants control & inhibit the oxidation of plastic products in severe environments. This, in turn, will drive the demand for phenolic antioxidants over the forecast timeframe.
Geographically, Asia Pacific accounts for the largest market share in 2017, and is expected to grow at the highest CAGR during the forecast period. The dominance of Asia Pacific region is mostly due to the increasing demand for food from increasing population beside growing use of plastic and rubber in this region. Asia Pacific region is followed by Europe, which accounted for the second largest market share and it is estimated to grow at the maximum CAGR. Germany accounts the highest market share in Europe and expected to remain dominant throughout the forecast timeframe owing to greater penetration of end user industries in the country. North America is a substantial region in the global phenolic antioxidant market.
The Scope of Global Phenolic Antioxidant Market:
Global Phenolic Antioxidant Market, by Source:
• Natural
• Synthetic
Global Phenolic Antioxidant Market, by Application:
• Food
• Plastics & Rubber
• Pharmaceutical
• Cosmetic
• Fuel & Lubricant
• Others
Global Phenolic Antioxidant Market, by Region:
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating In Global Phenolic Antioxidant Market:
• DSM
• BASF SE
• Oxiris Chemicals S. A.
• Sumitomo Chemical Company
• Chitec Technology Co., Ltd.
• Mayzo Inc.
• Addivant
• Double Bond Chemical Ind., Co., Ltd.
• Kumho Petrochemical Co., Ltd.
• Emerald Performance Materials
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