Global Phosphite Antioxidants Market: Introduction
- An antioxidant is a type of chemical compound that inhibits oxygen or UV radiation from retorting with oxidation-susceptible compounds. Oxidation during processing or compounding can cause issues such as breakdown, loss of strength, and discoloration. Antioxidants work to slow down the oxidation cycle by scavenging free radicals and thereby, protecting products from degradation.
- Antioxidants do not completely eliminate oxidative degradation, but they substantially inhibit the rate of auto-oxidation by interfering with the radical propagation reaction. Antioxidants prolong the life of products and help in maintaining their original high-performance characteristics as long as possible.
- Antioxidants can be classified as primary antioxidants and secondary antioxidants. Primary antioxidants include phenolic and amine antioxidants. These antioxidants have low volatility and they require high drying time. Secondary antioxidants include phosphites and thioesters.
- Phosphites act as secondary antioxidants. They exhibit high thermal stability under extreme temperatures. As processing stabilizers, phosphite antioxidants serve to minimize changes in the melt viscosity and reduce discoloration. Combination of phosphites with hindered phenols often exhibits strong synergistic performance.
Rise in Construction Activities to Drive Global Phosphite Antioxidants Market
- The growing automotive industry is boosting the demand for plastic, rubber and adhesive materials. This, in turn, is driving the consumption of phosphite antioxidants in the manufacture of plastic, rubber and adhesive products. This factor is driving the global phosphite antioxidants market.
- Increasing urbanization and continuously growing population are driving the global building & construction industry. Rising investments in real estate and infrastructure, increasing disposable income, upcoming trend of aesthetic buildings, and good quality of construction products are factors driving the global phosphite antioxidants market.
- Rise in the demand for durable plastic and rubber products across various industries drives the global phosphite antioxidants market
- Rising trend of protection of the environment, manufacture of high-quality eco-friendly products, and upcoming technologies are fueling the global market. Leading manufacturers are focusing on the development of customized technical solutions based on industrial requirements.
Solid Segment to Witness Attractive Opportunities
- Based on product, the global phosphite antioxidants market can be segmented into solid and liquid
- The liquid segment is anticipated to hold a major market share during the forecast period. The solid segment is anticipated to witness rapid growth during the forecast period, due to growing consumption of solid phosphite antioxidants in end-use industries.
- Phosphite antioxidants prevent thermal degradation and discoloration and prolong the life of products during component manufacture, application, storage, transportation, and end-use
Plastic Segment to Witness Lucrative Opportunities
- Based on application, the global phosphite antioxidants market can be segmented into plastic, rubber, and adhesives
- The plastic segment is anticipated to hold a prominent market share during the forecast period
- Rise in the demand for plastic and resin products in automotive, construction, and building sectors is anticipated to boost the global phosphite antioxidants during the forecast period
Asia Pacific to Offer Attractive Opportunities to Phosphite Antioxidants Market
- In terms of region, the global phosphite antioxidants market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to dominate the global market during the forecast period. The market in countries such as China, India, and Indonesia is estimated to expand at a significant rate during the forecast period. Rising industrialization and development of infrastructure are key factors driving the market in the region.
- North America has been a prominent manufacturer and end-user of phosphite antioxidants over the last few years. The U.S. held a major share of the phosphite antioxidants market in North America in 2018.
- Germany is projected to constitute a leading share of the phosphite antioxidants market in Europe during the forecast period. Growth of the market in the country can be ascribed to presence of prominent manufacturers, such as BASF SE and Evonik Industries, AG in the country.
- Latin America and Middle East & Africa are emerging markets for phosphite antioxidants, due to rise in the demand across various end-use industries in these regions
Key Players Operating in Global Market
The global phosphite antioxidants market is fragmented, with several regional and global manufacturers operating in the market. Prominent players operating in the market are investing in mergers, acquisitions, expansions, and launch of new products in order to maintain their leading position.
Key players operating in the global phosphite antioxidants market are:
- Ampacet Corporation
- Dover Corporation
- SI Group
- Everspring Chemical
- Cary Company
- 3V Sigma
- Krishna Antioxidant
- Jiaxing Zhongcheng Ecotechnology
- Trigon Antioxidant
Global Phosphite Antioxidants Market: Research Scope
Global Phosphite Antioxidants Market, by Product
Global Phosphite Antioxidants Market, by End-use Industry
Global Phosphite Antioxidants Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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