PMR offers prominent insights into the phenolic antioxidants market in its latest research study, which analyzes factors having deep-rooted influences on market growth and sheds light on opportunities brimming in the marketplace over the next eight years. The PMR report remains bullish on the long-term growth prospects of phenolic antioxidants market and anticipates that the market is likely to proliferate at a value CAGR of over 4% through 2026. Rising demand for high-performance lubricants, surging end-use inclination toward plastic products, and burgeoning applications across food & feed additive applications are among the key aspects fuelling investments in phenolic antioxidants.
Use of Additives in Production of Rubber & Plastic Composites Propel Demand for Phenolic Antioxidants
Phenolic antioxidants find extensive applications as an additive in production of plastic and rubber composites. The increasing demand for plant based products in automotive and other industrial ecosystems is highly evident than ever, owing to increasing clamor for light weight variants. The increasing penetration of plastic variants across multiple industrial ecosystems is triggering the adoption of functional additives, including phenolic antioxidants. Exponential growth in demand for phenolic antioxidants from lubricant & fuel space is foreseen to remarkably boost sales of phenolic antioxidants.
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Worldwide sales of phenolic antioxidants is foreseen to gain tailwinds from unprecedented growth of multiple industries, including automotive, mining & metallurgy, and oil & gas. This, in turn, is estimated to amplify the year-on-year sales of phenolic antioxidants.
Multi-functional remains the highly-favored type, primarily driven by its robust stability and exceptional attributes, and the status quo is poised to remain unaltered over the assessment period. However, mono-functional phenols are likely to likely to witness increasing demand in the phenolic antioxidants marketplace, on account of surging demand from rubber and plastic processing applications
Synthetic phenol antioxidants remains highly-preferred in the phenolic antioxidants landscape, followed by natural variants. High demand for safety combined with performance is inducing a shift to natural phenol antioxidants, which is creating significant challenges for the adoption of synthetic variants.
The plastic & rubber processing segment holds a substantial share in the global market, notably driven by increasing applications in diverse end-use industries.
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China to Stay at the Forefront of Demand for Phenolic Antioxidants
China spearheaded demand for phenolic antioxidants in 2017 and hold more than one-fourth of the overall volume share. China is foreseen to remain a lucrative region for the manufacturers of phenolic antioxidants against the backdrop of robust industrial growth and flourishing automotive production & sales. The South East Asia & Pacific region is poised to follow the trail in terms of demand for phenolic antioxidants and is pegged to register nearly 1.5X growth over the assessment timeline. North America as well as Europe are envisaged to collectively account for approximately 40% of the global market in 2017. Multiple opportunities across North America and Europe are expected to make these regions highly-remunerative, both from manufacturing and sales standpoints.
The report features few of the key companies operating in the global Phenolic Antioxidants market, such as Emerald Performance Materials LLC, SONGWON, SI Group, BASF SE, Dorf Ketal, Addivant, Adeka Corporation, Lanxess AG, Jiyi Chemicals Co., Ltd., Krishna Antioxidants Pvt. Ltd., Clariant AG., and Mayzo Inc.. Leading players in the market are vying for expanding their reach across multiple geographies and focusing on strategic collaborations & partnerships to strengthen their sustenance in the global market space.