Phenolic Antioxidants Market – Market Overview
Phenolic Antioxidants are free radical scavengers, which help in prevention of thermal degradation of organic materials such as polymers. The Phenolic Antioxidants are more effective when used in combination with phosphites, thieoethers, and light stabilizers. These Antioxidants act as preservatives and prevent the oxidation of the product.
The Global Synthetic Antioxidants Market is majorly driven by the increasing demand for plastics in almost every end-use industry. The increasing use of plastics as a replacement of the conventional materials is expected to drive the market growth over the review period. Although the major source of Phenolic Antioxidants is natural type, the Synthetic Phenolic Antioxidants dominate the market. This is due to the undeveloped technological advancements that results in difficulties in extraction of natural Phenolic Antioxidants. Asia Pacific dominated the market in 2016 on account of the increasing demand for food consumption coupled with the growing use of plastics & rubber in the region.
Phenolic Antioxidants Market- Competitive Landscape
The Global Phenolic Antioxidants Market is witnessing rapid growth primarily due to its various applications such as food, plastics & rubber, pharmaceuticals, cosmetics, and others. Mayzo Inc., BASF SE, Archer Daniels Midland Company, Evonik Industries, DSM, OXIRIS, VDH CHEM TECH PVT. LTD, Akrochem Corporation are the leading players in this market. Most of these market participants are adopting the acquisition, collaboration tactics, investment in research & development, and launching new products in order to strengthen their market position and meet the growing demand. Considering these trends, the Global Phenolic Antioxidants Market is set to witness considerable competition over the forecast period of 2018-2023.
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Industry/ Innovation/ Related News:
February 8, 2018– South Korea based global manufacturer and supplier of plastic additives and specialty chemicals, Songwon Industrial Co., Ltd. has started manufacturing Songnox 5650 at its Panoli plant in Gujarat, India. It is a high-molecular-weight, multifunctional Phenolic Antioxidant, which is primarily used as a post-polymerization process stabilizer for unsaturated elastomers. This site was acquired by the company from Sequent in 2014. And in the last three years, Songwon has continuously invested in the Panoli site to develop it into a hub for specialty chemicals, including Songnox 5650. This is expected to help the company to meet surging demand from the growing food & beverage industry.
May 25, 2017- Songwon Industrial Co., Ltd., South Korea based specialty chemicals and plastic additives manufacturer, has announced their plans to further extends the antioxidant range for fuels and lubricants through launch of SONGNOX L570 at the STLE Annual Meeting & Exhibition. The launch of SONGNOX® L570 will complement the broad phenol, phosphite, aminic, and thioester antioxidant product range of Songwon. SONGNOX® L570 is manufactured in SONGWON’s world class facility in South Korea.
September, 2016- Chitec Technology Co., Ltd., Taiwan based chemical company, which focuses on the research and development of specialty chemical, has announced that their proprietary antioxidant, Revonox® 501, has been cleared by the Food and Drug Administration via Food Contact Notifications No. 1254. This is likely to increase sale of this product after relief form regulatory glitches.
April, 2016- Spain based organic chemicals manufacturer & supplier, Oxiris Chemicals S.A., has launched a new grade of high purity BHT to complement the existing portfolio. Product presentation is in flakes and with two grades: BHT Technical Flakes and Ionol® CPF. A new Flaker installation has been recently successfully commissioned.
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