Market Size of Plastic Antioxidant Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Plastic Antioxidant Market Analysis
The plastic antioxidants market is expected to register a CAGR of over 5% during the forecast period. The major factors driving the plastic antioxidants market are the replacement of conventional materials by plastics and increasing demand for polypropylene. On the flip side, stringent regulations imposed on plastic usage and unfavorable conditions arising due to the COVID-19 outbreak are the major restraints hindering the market growth.
- Increasing applications of acrylonitrile butadiene styrene in various industries, such as electrical and electronics, home appliances, and automobiles, is expected to offer various lucrative opportunities for the growth of the market.
- By polymer resin, the polypropylene segment is expected to dominate the plastic antioxidant market, owing to its susceptibility to oxidation and thermal degradation.
- The Asia-Pacific region dominated the market across the world, with the largest consumption from countries, such as China and India.
