Phenolic Antioxidants Market Size & Share, by Type (Mono-Functional, Bi-Functional, Multi-Functional); Form (Liquid, Granule, Powder); Application (Plastic & Rubber, Food & Feed Additives, Pharmaceuticals & Personal Care, Fuel & Lubricants, Industrial Lubricants); Source (Natural, Synthetic) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5027
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Phenolic Antioxidants Market size is expected to reach USD 9 Billion by the end of 2035, growing at a 6% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of phenolic antioxidants was USD 4 Billion. This growth of the market is influenced by the growing production of plastic. Globally, every year about 399 tons of plastics are produced. Hence, with this growth, the adoption of phenolic antioxidants is also projected to grow. This is since, it possesses excellent properties which would prevent the oxidation of plastic. For instance, Bisphenol A (BPA) is a synthetic phenolic antioxidant that is often used to reduce the oxidative degradation of plastic items.

Moreover, the automotive sector also plays a crucial role in boosting the market demand over the coming years since plastics are extensively used in manufacturing automobiles. Initial interior finishing was the principal application for car plastics. However, in recent years, they are also used for exterior automotive elements including doors, fenders, bonnets, and even bumpers that were once reserved for sheet metal and steel. Moreover, the growing trend of light-weight vehicles is boosting the preference for large use of plastics in this sector further driving the market growth.


Phenolic Antioxidants Market-min
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Phenolic Antioxidants Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Application of Antioxidants in the Healthcare Sector

Antioxidants in the diet may have a major impact on the prevention and progression of many diseases connected with oxidative stress. Numerous studies have looked at the role of phenolic compounds as antioxidants in preventing some of the most prevalent diseases linked to oxidative stress-driven pathologies, including cancer, heart disease, and neurological disorders.

  • Surging Demand for Oil & Gas

Global oil consumption is anticipated to reach about 103 mb/d by 2026. Hence, phenolic antioxidants could play a crucial role in satisfying this demand. The need for lubricant is high in industries such as oil and gas which uses heavy machinery to carry out their day-to-day activities. Moreover, this machinery also operates in extreme weather which could result in wear and tear of machines. Hence, in order to keep the functioning of machines in an efficient manner the need for lubricants is growing. Further, lubricants are mixed with phenolic antioxidants in order to boost the effectiveness of lubricants. Hence, in this manner, this factor would boost the demand for the market.

  • Boost in Food & Beverages Demand

The phenolic chemicals, vitamins, and carotenoids that make up natural antioxidants are found in plants (fruits, legumes, and vegetables), mushrooms, and algae. Hence, natural phenolic antioxidants have recently gained popularity over synthetic ones, mostly as a result of consumers' increased desire for foods and beverages that are functional and have been infused with natural ingredients while still maintaining their original flavor and nutritional value.

Challenges

  • Stringent Government Regulations
  • Surge in Adverse Effect of Plastic on Environment
  • Toxic Reaction on Human When Exposed to Phenolic - Utilization of various pharmaceuticals, such as throat lozenges and ointments, may result in phenol exposure.  In humans, acute (short-term) inhalation or dermal exposures to phenol cause severe irritation to the skin, eyes, and mucous membranes.  It has been suggested that oral exposure to phenol is very hazardous to humans.  In humans who have been chronically (long-term) exposed, symptoms including anorexia, increasing weight loss, diarrhea, vertigo, salivation, dark urine color, and effects on the blood and liver have all been reported.

Phenolic Antioxidants Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~6%

Base Year Market Size (2022)

~ USD 4 Billion

Forecast Year Market Size (2035)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Phenolic Antioxidants Segmentation

Source (Natural, Synthetic)

Phenolic antioxidants market from the synthetic segment is predicted to generate the largest revenue in the upcoming years. This growth of the segment is estimated to be influenced by its growing use as additives in various end-use industries such as plastic & rubber, and fuel & lubricant. Moreover, synthetic phenolic antioxidants are employed as food additives to extend the shelf life of foods since they inhibit aging processes including the oxidation of lipid components that encourage color change and nutritional value loss.

Application (Plastic & Rubber, Food & Feed Additives, Fuel & Lubricants, and Industrial Lubricants, Pharmaceuticals & Personal Care)

The plastic & rubber segment is slated to hold a noteworthy share of the phenolic antioxidants market over the projected period. Antioxidants derived from phenols are frequently utilized as preservatives in the manufacture of rubber and plastics. Plastic is being accepted by various industries at an exponential rate owing to its outstanding qualities. Plastic additives are used as they lessen or postpone the degradation of plastic products, enhancing their effectiveness and usability under difficult circumstances such high pressure and temperature. As phenolic antioxidants control & limit the oxidation of plastic products in harsh settings, they are used as antioxidant additives in polymer processing. In turn, over the period of the prediction, this would fuel demand for phenolic antioxidants.

Our in-depth analysis of the global market includes the following segments:

 

     Type

  • Mono-Functional
  • Bi-Functional
  • Multi-Functional

 

     Form

  • Liquid
  • Granule
  • Powder

 

 

 

     Application

  • Plastic & Rubber
  • Food & Feed Additives
  • Pharmaceuticals & Personal Care
  • Fuel & Lubricants
  • Industrial Lubricants

 

     Source

  • Natural
  • Synthetic

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Phenolic Antioxidants Industry- Regional Synopsis

APAC Market Forecast

The phenolic antioxidants market in Asia Pacific, amongst the market in all the other regions, is set to have the highest growth by the end of 2035, backed by the growing population which is further boosting the demand for food. For instance, by 2050, Asia's population is projected to increase by 900 million to five billion, making it the largest food market in the world. Moreover, more than 60% of the world's total demand for cereal would come from South and East Asia. In comparison to a decade ago, food production is expected to increase by 60–70% to keep up with this rising demand.

European Market Statistics

The Europe phenolic antioxidants market is anticipated to have the significant growth over the forecast period. The market is expanding owing to the rising demand for products that stop plastic from deteriorating during manufacturing and other processes, where phenolic antioxidants are added to prevent this from happening. Furthermore, as a result of the higher penetration of end user industries there, Germany currently holds the largest market share in Europe and is set to continue to hold this position during the projection period. In addition, there has been the presence of strict regulations in order to reduce VOC emissions that are generated through various industries that include paints, and coating industry.

North American Market Analysis

The phenolic antioxidants market in North America is also estimated to grow over the forecast period. The growth of the market in this region is estimated to grow on account of the growing spread of awareness about phenolic antioxidants by the government.

Research Nester
Phenolic Antioxidants Market Size-min
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Companies Dominating the Phenolic Antioxidants Landscape

top-features-companies
    • DSM
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • BASF SE
    • Oxiris Chemicals S. A.
    • Sumitomo Chemical Co., Ltd.
    • Chitec Technology Co., Ltd.
    • Mayzo Inc.
    • Addivant
    • Double Bond Chemical Ind., Co., Ltd.
    • Kumho Petrochemical
    • SI Group, Inc.

In-the-news

In The News

  • SI Group, Inc., has developed REZICURE HYDRO T8-7900, a phenol modified bio-based tackifier for use in water-based polychloroprene adhesives. This latest addition to SI Group's product line was presented at the 2022 World Adhesive & Sealant Conference, the main international event for adhesive and sealant industry stakeholders worldwide.
  • By incorporating a new production line into the current production facilities, BASF SE has increased the production capacity for its antioxidant Irganox 1010 at its Jurong Island, Singapore. 

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5027
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are the growing application of antioxidants in the healthcare sector, the increase in demand for oil & gas, and the rise in demand for food & beverages.

The market size of phenolic antioxidants is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2035.

The major players in the market are DSM, BASF SE, Oxiris Chemicals S. A., Sumitomo Chemical Co., Ltd., and more.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, form, application, source, and by region.

The synthetic segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Stringent government regulations, a surge in the adverse effect of plastics on the environment, toxic reactions on humans when exposed to phenolic are and estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Phenolic Antioxidants Market Report Scope
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