Phenolic Antioxidants Industry- Regional Synopsis
APAC Market Forecast
Europe industry is set to hold largest revenue share by 2037. 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.
