Global Plastic Antioxidants Market
The GMI Research analysis extrapolates that the Plastic Antioxidants Market will amplify considerably over the forecast period. These antioxidants are increasingly used in the production of plastic to eradicate plastic deterioration.
Plastic Antioxidants Market Dynamics
The aggravating demand for plastic antioxidants such as PP, ABS, PVS, and PE, primarily in the medical, consumer goods, automotive, healthcare, and building construction industries, is the governing force complementing the growth of growth the global plastic antioxidants market. Plastics possess unique mechanical and electrical features, which help to enhance abrasion and chemical resilience over traditional materials. For example, plastics are increasingly implemented in the automotive industry to improve the security level, performance, and fuel effectiveness. The plastics are implemented in netting, greenhouse film covers, silage strap wrap, and mulch films. Besides, the increasing application of polypropylene resins in hygiene stacks, heavy-compounding, and duty sacks, has further supplemented the demand for PP polymer resin, thereby propelling the market size. The highly resistant polymer fabrics used in cars' airbags help reduce the mortal injuries during a car crash, which will compel the market growth.
Based on the region, the Asia-Pacific region is projected to grow at a higher CAGR during the forecast period. The rising usage of several resins in end-use industries such as electronics, automotive, and oil gas sectors is surging the demand for plastic antioxidants in the region. The thermal and oxidation resistance features have also increased the demand for polyethylene and polypropylene resins in the building and construction industry. Moreover, the significant rise in the construction sector in Asian countries such as China, India, and other countries is further boosting the demand for plastic antioxidants. In India, the construction sector is expanding due to the increasing number of real estate and urban development projects in the country.
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