Europe Phenolic Antioxidant Market Insights Forecasts to 2032
- The Europe Phenolic Antioxidant Market was valued at USD 321.4 Million in 2022.
- The Market is growing at a CAGR of 2.4% from 2022 to 2032
- The Europe Phenolic Antioxidant Market is expected to reach USD 409.7 Million by 2032.
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The Europe Phenolic Antioxidant Market size was valued at USD 321.4 million in 2022. The Europe Phenolic Antioxidant Market is projected to exceed USD 409.7 million by 2032, growing at a CAGR of 2.4% from 2022 to 2032. Increased demand for the product aims to avoid plastic degradation as phenolic antioxidants are added to prevent plastics from degrading or oxidizing during manufacturing and other processes, driving the market growth. Furthermore, the rising demand for plastics in place of traditional materials is propelling the Europe phenolic antioxidant market forward.
Phenolic antioxidants are commonly used as an additive in the manufacture of plastics and rubber. Because of its exceptional properties, it prevents plastic oxidation and is being adopted at an exponential rate in a variety of industries. Phenolic antioxidants act as free radical terminators and metal chelators in the oxidation process. Although phenolic compounds and their derivatives effectively prevent oxidation, only a few phenolic antioxidants are permitted to be used as food additives. The activity and potential toxicity of phenolic antioxidants are important factors to consider before allowing them to be used as food additives.
This research report categorizes the market for Europe phenolic antioxidant market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe phenolic antioxidant market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Europe phenolic antioxidant market.
Europe Phenolic Antioxidant Market Report Coverage
|Market Size in 2022:||USD 321.4 Mn|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||2.4%|
|022 – 2032 Value Projection:||USD 409.7 Mn|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Source, By Application, By Country.|
|Companies Covered:||BASF SE, 3V Sigma S.P.A, SI Group INC, Koninklijke DSM N.V, Lanxess AG, Raschig Gmbh, AllScripts Healthcare, Epic Systems Corporation, Cerner HealthCare, Philips HealthCare Services, GE HealthCare Services, McKennson Corporation and Others.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Plastics are omnipresent in our daily lives. It's difficult to imagine life without plastic. Plastics are often thought to be indestructible and non-biodegradable, but they can be easily degraded and oxidized during processing and manufacturing. Stabilizers are used to keep plastics from degrading or oxidizing during manufacturing and other processes. This is where phenolic antioxidants enter the picture. Phenolic antioxidants protect plastics from oxidation in a variety of ways. They easily form chelates with metals, preventing oxidation. Phenolic antioxidants are primary antioxidants that work by destroying peroxy-radical intermediates in the oxidation process. They are effective over a wide temperature range and provide protection during processing, end-use, and long-term storage. When used as a processing stabilizer, phenolic antioxidants reduce melt viscosity changes and prevent plastic decolorization. The plastics industry's increasing demand for phenolic antioxidants is expected to have a positive impact on the market and drive the growth of the European phenolic antioxidant market during the forecast period.
While natural phenolic antioxidants have no known side effects, synthetic phenolic antioxidants such as BHA (Butylated hydroxyanisole), BHT (Butylated hydroxytoluene), and TBHQ (Tert-Butylhydroquinone) do. Generally, synthetic phenolic antioxidants are used as food additives. Synthetic phenolic antioxidants, when used in excess or incorrectly, can cause carcinogenesis, cytotoxicity, oxidative stress induction, and endocrine disruption. BHT has the ability to induce apoptosis and promote tumorigenesis, whereas BHA has been linked to the carcinogenic process. TQ and CYP1A1 are activated by TBHQ, which promotes cancer. Several studies have linked BHA and BHT to cancer, oxidative stress, and a variety of other diseases. These BHA, BHT, and TBHQ side effects are expected to have a negative impact on the market and impede the growth of the Europe phenolic antioxidant market during the forecast period.
The Europe Phenolic Antioxidant Market share is segmented into source and application.
- The synthetic segment is expected to hold the largest share of the Europe phenolic antioxidant market during the forecast period.
Based on the source, the Europe phenolic antioxidant market is segmented into natural and synthetic. Among these, the synthetic segment is expected to hold the largest share of the Europe phenolic antioxidant market during the forecast period. The growth can be attributed to the fact that there is a wide range of synthetic type antioxidants from which end-users can choose. Furthermore, synthetic antioxidants are less expensive and the extraction process is simpler than natural antioxidants, resulting in synthetic phenolic antioxidant.
- The food & feed additive segment is expected to grow at the highest pace in the Europe phenolic antioxidant market during the forecast period.
Based on the application, the Europe phenolic antioxidant market is classified into plastic & rubber, fuel & lubricants, cosmetic & personal care, food & feed additive, and others. Among these, the food & feed additive segment is expected to grow at the highest pace in the Europe phenolic antioxidant market during the forecast period. This expansion can be attributed to the food industry, which is one of the largest not only in Europe but also globally. According to EU data, approximately 88 million tonnes of food are wasted in Europe each year for a variety of reasons, with households accounting for nearly half of this waste. Phenolic antioxidants are used as additives in food products to prevent oxidation and waste. When phenolic antioxidants are used in food products, they control rancidity, delay the formation of toxic oxidation products, maintain nutritional quality, and extend food product shelf life. The aforementioned properties of phenolic antioxidants are used in food and feed additives, which drives market growth.
The report offers the appropriate analysis of the key organizations/companies involved within the Europe phenolic antioxidant market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- BASF SE
- 3V Sigma S.P.A
- SI Group INC
- Koninklijke DSM N.V
- Lanxess AG
- Raschig Gmbh
- AllScripts Healthcare
- Epic Systems Corporation
- Cerner HealthCare
- Philips HealthCare Services
- GE HealthCare Services
- McKennson Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In February 2021, LANXESS opens nitrous oxide reduction plant in Antwerp - LANXESS has taken another significant step towards climate neutrality by opening a nitrous oxide reduction plant at its Antwerp site on February 10, Belgium.
This study forecasts revenue at, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Europe Phenolic Antioxidant Market based on the below-mentioned segments:
Europe Phenolic Antioxidant Market, By Source
Europe Phenolic Antioxidant Market, By Application
- Plastic & Rubber
- Fuel & Lubricants
- Cosmetic & Personal Care
- Food & Feed Additive
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