Phenolic Antioxidant Market Revenue, Product Launches, Regional Share Analysis & Forecast Till 2030

 Market Insights

Oxidization of food and other materials often decreases the shelf life of the product in question, due to this Phenolic Antioxidant Market are frequently used to prevent fat rancidity and changes in color. Phenolic antioxidants are one such oxidant which is very popular for its anti-oxidant applications in primarily the food industry as a preservative and plastic and rubber industry as an additive to improve shelf life. Its extensive use in these industries is expected to be the primary stimulator of growth for the global market during the forecast period. Additionally, these antioxidant compounds find use in the cosmetic industry as free radicals are often associated with signs of aging and use of antioxidants is one of the methods use to combat them.

Market Research Future's (MRFR) latest publication discloses an impressive CAGR of 5.10% during the forecast period of 2022 to 2030. MRFR additionally estimates that the approximate market value of the phenolic antioxidants market at USD 1.83 billion by forecast period.

Although synthetic phenolic antioxidants are more popular than natural phenolic compounds, due to the ease with which they can be produced and used for necessary application, there are adverse health effects associated with synthetic antioxidants which may pose a challenge to market growth. However, advancements in research may yield a promising, safe alternative in the coming years.

Phenolic Antioxidant Market 

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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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