Market Research Future Published a Research Study on Phenolic Antioxidant Market Research Report, Size, Share and Industry Analysis - Forecast to 2023
Market – Overview
Growth
of end use industries of phenolic antioxidants has sparked a high rate
of growth in the industry. Market Research Future which specializes in
market reports related to the chemicals and material sector amongst
others lately issued a report on this industry. The market is estimated
to develop at CAGR of 5.10% to attain a USD 1830.05 million in revenues
till 2023.
The expansion of the market has gained dominance
primarily due to the increased demand being observed from its end use
industries. Its end use industries like fuel and lubricants, cosmetics
and pharmaceutical have rapidly increased the scope of applications for
the market.
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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Global Competitive Analysis
The
players of this market are looking to gain an extensive share of the
market segment by the successful use of their primary resources to
commence expansion changes which is long lasting. This attitude has set
off trends which are related to development which is especially volume
driven. This has effectually led to amplification in diverse ranges of
product forms. The sector’s extensive change due to the accelerated
expansion pace has led to experimentation with many benefit points. The
industry’s long term progress can be capitalized upon by constant
continuing process improvements and maintaining financial fluidity to
invest in the most advantageous strategies when they are on hand.
The
vital players in the global market for phenolic antioxidant are DSM
(Netherlands), BASF SE (Germany), Sumitomo Chemical Company (Japan),
Oxiris Chemicals S. A. (Spain) and Chitec Technology Co., Ltd.
Detailed Regional Analysis
The
international Phenolic Antioxidant industry is segmented into regions
such as Latin America, Asia Pacific, Europe, North America and the
Middle East & Africa. The Asia Pacific region registered the main
market share in the year 2016, and is expected to develop at a maximum
CAGR of 5.20% approx during the forecast period. The power of the Asia
Pacific region is primarily because of the mounting demand for food from
escalating population along with rising use of rubber and plastic in
this region. The European region follows Asia Pacific, which is the
second major market share and it is anticipated by 2023 to reach USD
420.47 million. Germany is the main market share of the European region
and is estimated to remain principal to the region’s growth throughout
the forecast period due to better penetration of end user industries in
the country. The North American market is a noteworthy region in the
global market for phenolic antioxidant. It has a considerable market
share of 20%, as of the year 2016. The US dictates the North American
market‘s share on the basis of volume and value due to growing demand of
packaged, preserved and processed food in the country.
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), by
Application (Food, Plastics & Rubber, Pharmaceutical, Cosmetic, Fuel
& Lubricant and Other), and by Region (Asia Pacific, Europe, North
America, Latin America, and Middle East &Africa,) - Forecast till
2023” in detail along with the table of contents@ https://www.marketresearchfuture.com/reports/phenolic-antioxidant-market-3937
Industry Segments
The
international industry for phenolic antioxidant is categorized on the
base of application, source and region. The source segmentation of the
market is into synthetic and natural. The application category of the
market includes plastics & rubber, food, cosmetic, pharmaceutical,
and lubricant & fuel. The regional division of the phenolic
antioxidant market includes Latin America, Europe, North America, Asia
Pacific, and the Middle East & Africa.
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