Market Dynamics
A high rate of growth in the industry has been caused by the growth of end-use industries for Phenolic Antioxidants Market Size. Due mainly to the increased demand from its end-use sectors, the expansion of the market has gained dominance. End-use industries such as fuel and lubricants, cosmetics and pharmaceutical industries have rapidly increased the range of market applications. In addition, the increasing use of phenolic antioxidants in the manufacture of rubber and plastic composites provides traction for the market for phenolic antioxidants. This is mainly because, compared to other composite materials, it has superior properties and lower costs. In addition, the shifting demographic trend across developing regions is generating a demand for diets rich in nutrients. In addition, during the forecast period, growing health concerns will also drive the growth of the market for natural phenolic antioxidants.
In addition, factors such as increasing the adoption of plastics in the automotive industry are aimed at reducing overall weight. In turn, this will drive demand for phenolic antioxidants over the forecast period and is therefore expected to deliver a lucrative gain in the market for plastic additives. However, the growth of the global phenolic antioxidant market is expected to be impeded by factors such as the negative effect of plastics on the environment, increasing plastic recycling practices and strict government regulations.
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However, rapid industrialization, increasing disposable income, and the flourishing production and sales of automobiles are some of the factors that are expected to fuel the growth of the market for phenolic antioxidants in the coming years.
Segmental Analysis
By source, phenolic antioxidant are characterized into natural and synthetic Phenolic Antioxidants. Synthetic Phenolic Antioxidant accounts for the biggest market share among them, and during the forecast period it is estimated to grow at a higher CAGR of 4.60 percent.
The market is divided into food, plastics & rubber, pharmaceuticals, cosmetics, and fuel & lubricant by application. As phenolic antioxidants control and inhibit the oxidation of plastic products in severe environments, phenolic antioxidants are used in polymer processing as antioxidant additives. In turn, this will drive demand over the forecast timeframe in the plastics and rubber sector, thereby driving market growth.
Regional Analysis
Asia Pacific accounted for the highest market share in 2019 and is projected to grow during the forecast period at the highest CAGR of 4 percent. The dominance of the Asia Pacific region is mainly due to the growing demand for food from the growing population in this region, along with the increasing use of plastic ad rubber. Due to the high penetration of the food & beverage and plastic industries in the region, Asia Pacific accounts for the largest share. China is not only the largest market in the Asia Pacific region, but also in the global market.
The Asia Pacific region is followed by Europe, which has the second largest market share and is projected to reach USD 420.47 million by 2027. The use of plastic recyclers for the recycling of plastic products will be encouraged by growing environmental concerns and the implementation of strict rules and regulations implemented by governments in different European countries, such as Austria, Germany, Switzerland, Denmark, Finland and Luxembourg. Germany accounted for the highest market share in Europe and, owing to the greater penetration of end-user industries in the country, it was expected to remain dominant throughout the forecast period.
In the Global Phenolic Antioxidant Market, North America is a significant region. As of 2019, it accounted for a considerable market share of 20%. Because of the increasing demand for preserved, packaged and processed food in the country, the US dominates the market share of North America in terms of value and volume. The U.S. is projected to reach North America, followed by Latin America and the Middle East & Africa, which during the forecast period are projected to grow at a moderate rate.
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Competitive Landscape
By successfully using their primary resources to initiate long-lasting expansion changes, the players of this market are looking to gain an extensive share of the market segment. This approach has set off patterns that are linked to particularly volume-driven growth. In various ranges of product forms, this has effectively led to amplification. The extensive change in the sector due to the accelerated pace of expansion has led to experimentation with many points of advantage. The industry’s long term progress can be capitalized upon by constant continuing process improvements and maintaining financial fluidity to invest in the most advantageous strategies when they are on hand.
The vital players in the global market for phenolic antioxidant are DSM (Netherlands), BASF SE (Germany), Sumitomo Chemical Company (Japan), Oxiris Chemicals S. A. (Spain) and Chitec Technology Co., Ltd.
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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.
This study includes complicated insights for the market and diverse perspectives of various industry professionals.
Existing market investigation and future innovation are described to provide better insight into your business.
Segment Analysis:Global Epoxy Resin Market has been segmented on the basis of type, technology, application, and region.
In 2016, the glycidyl epoxy segment held the largest share of the market and is projected to grow at CAGR of 5.33%, on account of increasing use of this type in key end user industries such as automotive and building & construction.Based on Technology, the market is categorized into liquid epoxy, waterborne epoxy, solvent cut epoxy, and others.
However, the waterborne epoxy poised to emerge as the substantial segment growing at highest CAGR, among others.
Asia Pacific market is followed by North America, which is accounted for the second largest number of shares in the Global Epoxy Resin Market, as of 2016.
Country wise, China is the leading market, in terms of value and volume, followed by the U.S.
In coming years, Latin America is set to emerge as a significant market for Epoxy Resin, which is estimated to grow at highest CAGR due to rise of major end users in this region.Market Research Future will be publishing a Cooked Research Report on “Global Epoxy Resin Market” that contains the information from 2017 to 2023.
