Phenolic Antioxidant Market – Overview
Phenolic antioxidant is predominantly used as preservatives and support in prevention of the oxidation of product. The phenolic antioxidant market share is predicted to grow substantially and register a strong growth with a CAGR of 5.10% over the estimated period. Some of the important drivers supporting the market growth are continuous growth in food industry as these are used as preservative for food and expansion of plastic industry. Phenolic antioxidant is used as stabilizer in pharmaceutical and cosmetics industries. Rising awareness regarding the benefits associated with phenolic antioxidant along with continuous growth of pharmaceutical industry is predicted to drive the demand in near future. Moreover, growing per capita disposable income along with huge expenditure on cosmetics and personal care products is estimated to fuel the market growth. Synthetic phenolic antioxidant emerged as the largest market share in 2016 and is predicted to retain its dominance on account of rising demand as an additive in fuel & lubricant and plastic & rubber industry. However, natural phenolic antioxidant is estimated to increase in future on account of its increasing interest in pharmaceutical and food industry. Phenolic antioxidant is widely utilized in numerous application such as food industry, plastic & rubber, pharmaceutical, cosmetic, fuel & lubricant, and others. Food industry segment accounted for the largest market share due to the wide utilization of phenolic antioxidant owing to its superior properties such as deactivation of metal ions and singlet oxygen. Food industry is followed by plastic & rubber which then trailed by pharmaceutical.
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Market Segmentation
The global market for phenolic antioxidants has been broadly segmented by source, application, and region.
By source, the market has been divided into synthetic and natural. Synthetic phenolic antioxidants account for the largest market share and are expected to continue its dominance during the forecast period with a CAGR of 4.60%. Further sub-segmentation of the above segments include:
- Synthetic - Butylated Hydroxyanisole (BHA), (BHT), tert-Butylhydroquinone (TBHQ), and Ethoxyquin.
- Natural - flavonoids, anthocyanins, stilbenes, tannins, and phenolic acids
By applications, the market has been segmented into food, plastics & rubber, pharmaceutical, cosmetic, fuel & lubricant, and other industries. The food industry is one of the key consumers of phenolic antioxidants and is expected to value $ 433.95 million by 2023.
By region, the market has been segregated to include North America, Latin America, Europe, the Asia-Pacific and the Middle East & Africa.
Regional Analysis
The Asia-Pacific accounted for the largest market segment in 2016 and is expected to stay in leading position during the review period due to the booming plastics & rubber industry in the region. Moreover, the food industry in this region caters to a massive population thus finding high demand for preservative applications in this region. China is one of the key economies which is driving growth for this market and the CAGR for the Asia-Pacific is expected at 5.20% during the forecast period of 2017 to 2023.
Europe, which has the second largest market share, is estimated to value $420.47 million by 2023. This is due mainly to the high demand for phenolic antioxidants in various end-use industries. Developed economies such as Germany are expected to drive the most growth during the forecast period.
North America is a significant market due to the increased presence of packages and processed food in countries such as the U.S.
Key Players
Prominent player that contribute to this market include=
Emerald Performance Materials LLC.
DSM
BASF SE
Oxiris Chemicals S.A.
Chitec Technology Co. Ltd.
Sumitomo Chemical Company
Mayzo Inc
Addivant
Double Bond Chemical Ind Co. Ltd.
Kumho Petrochemical Co. Ltd.
and others.
Latest Industry News
Songwon of South Korea has just added SONGNOX L570 to its range of antioxidants for fuels and lubricants to help protect them from thermo-oxidative degradation. The new product is a liquid butylated/octylated diphenylamine which is an aminic and phenolic antioxidant.
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Industry Updates:
Feb 2018 SONGWON has in full swing started production of SONGNOX 5650 in Gujarat, India at its Panoli plant to ensure worldwide availability of SONGNOX 5650 to its worldwide markets. The product SONGNOX 5650 is high in molecular weight and is a multifunctional phenolic antioxidant chiefly used as a post- process stabilizer for polymerization of unsaturated elastomers. The company has always placed solid emphasis on dependable supply. This added, in-house manufacturing capacity allows SONGWON to guarantee dependable supply of SONGNOX 5650 internationally.
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The Global Phenolic Antioxidant Market Research Report estimates market report value, considering the application and regional segments, market share, and size, while the forecast for each product type and application in segment.
The research on different sections including opportunities, size, growth, technology, demand, and trend of high significant players has been explored.
The report is all around made by considering its essential data in the overall Phenolic Antioxidant market, the essential components in charge of the interest for its products and administrations.Get a Phenolic Antioxidant Market Report Sample Copy @ https://www.indexmarketsresearch.com/report/global-phenolic-antioxidant-market-12/384846/#requestforsampleThe Phenolic Antioxidant market report assists statistical analysis regarding key factors including the major drivers, challenges, opportunities, and restraints that are expected to have a substantial impact on the progress of the market.
various graphical presentation techniques such as charts, graphs, tables, and pictures have been used while making the report.
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Existing market investigation and future innovation are described to provide better insight into your business.
