Market Research Future Published a Half-Cooked Research Report on Global Phenolic Antioxidant Market Research Report- Forecast to 2023
The Global Market for Phenolic Antioxidant can achieve a decent CAGR of 5.10% over the forecast timeframe (2016-2023), asserts Market Research Future (MRFR). The market can touch a valuation of USD 1830.05 million by 2023, adds MRFR.
Key Companies Thriving in the Global Market for PHENOLIC ANTIOXIDANTS are Chitec Technology Co., Ltd. (Taiwan), Emerald Performance Materials LLC (U.S.), DSM (Netherlands), Kumho Petrochemical Co., Ltd. (South Korea), Addivant (U.S.), Sumitomo Chemical Company (Japan), Mayzo Inc. (Georgia), BASF SE (Germany), Oxiris Chemicals S. A. (Spain), Double Bond Chemical Ind., Co., Ltd. (Taiwan), to name a few.
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Market Boosters and Key Barriers:
The Market for Phenolic Antioxidants analysis in the report indicates its potential to gain significant traction in the next few years. A variety of factors are responsible for this, some of them include the high efficacy as well as workability of Phenolic Antioxidants in adverse conditions, high pressure, and temperature. Additionally, rising increasing adoption rate of plastics in the automotive sector in a bid to reduce the overall weight also boosts the demand for Phenolic Antioxidants.
Increasing application of Phenolic Antioxidants in the production of rubber and plastic composites gives a considerable push to the growth of the Phenolic Antioxidant Market. The product is used for producing rubber and plastic composites, given its superior properties as well as lower cost compared to other types of composite materials. Additional factors that induce market growth include fast-paced industrialization, mounting disposable income, and the thriving automotive industry.
A number of countries and the companies based in these countries are making their presence felt in the global market for Phenolic Antioxidants, by coming up with effective strategies to improve the product sale. These moves not only solidify the market position but also enhances the business growth all over the world.
The Phenolic Antioxidant Market has been extensively covered in the MRFR report and, for the purpose of clear understanding, has been segmented with regard to source and application.
Source-Wise, market segments mentioned in the report are natural and synthetic. The synthetic Phenolic Antioxidants enjoy greater demand in the market than their counterpart and can attain a better growth rate of 4.60% during the appraisal period. Synthetic Phenolic Antioxidants form the dominant segment, owing to the mounting demand for them as an additive in fuel & lubricant and plastic & rubber industry.
Considering the Application Segment, the market consists of plastics & rubber, food, cosmetic, fuel & lubricant and pharmaceutical. The food industry has taken the lead in the market and is all set to achieve the highest valuation of USD 433.95 million by the end of the review timeline. Plastic & rubber industry is the second-leading segment, while the pharmaceutical industry can also make excellent progress in the coming years.
Regional Segmentation of the Global Phenolic Antioxidant Market caters to Asia Pacific (APAC), Europe, Latin America, the Middle East & Africa (MEA), and North America.
After seizing the largest share in the global market for Phenolic Antioxidant in the year 2016, the APAC market demonstrates the potential to garner the highest CAGR of 5.20% over the next couple of years. The region’s superlative performance is in response to the accelerated demand for food from the ever-expanding population and the rising use of plastic and rubber. Strict manufacturing policies combined with the rising industrialization and urbanization also offer lucrative opportunities to the Phenolic Antioxidants Market in the region.
Europe comes a close second with the second-biggest share in the market. The region can reach a valuation of USD 420.47 million by 2023, says MRFR. MRFR’s estimations also state that Germany is the most profitable market for Phenolic Antioxidant in Europe and can maintain its leading position throughout the evaluation period, thanks to the increasing number of end user industries in the country.
North America is one of the top markets for Phenolic Antioxidant, with its share accounting to 20% in 2016. The United States (US) is at the vanguard of the North American market with respect to value and volume, on account of the rising demand for packaged, processed and preserved food in the country. North America is trailed by Latin America and the Middle East & Africa, which can expand at a moderate pace during the given timeframe.
Browse Key Industry Insights spread across 123 pages with 47 market data tables & 13 figures & charts from the report, ” Phenolic Antioxidant Market Information: By Source (Natural and Synthetic), Application (Food, Plastics & Rubber, Pharmaceutical, Cosmetic, Fuel & Lubricant and Other), and Region (Asia Pacific, Europe, North America, Latin America, and Middle East &Africa) – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/phenolic-antioxidant-market-3937
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