Pune, India -- (SBWire) -- 11/30/2018 --Market – Overview

Growth of end use industries of phenolic antioxidants has sparked a high rate of growth in the industry. Market Research Future which specializes in market reports related to the chemicals and material sector amongst others lately issued a report on this industry. The market is estimated to develop at CAGR of 5.10% to attain a USD 1830.05 million in revenues till 2023.

The expansion of the market has gained dominance primarily due to the increased demand being observed from its end use industries. Its end use industries like fuel and lubricants, cosmetics and pharmaceutical have rapidly increased the scope of applications for the market.

Key Findings:

The Global Phenolic Antioxidant Market is projected to reach USD 1830.05 million by 2023 at a CAGR of 5.10%. Asia Pacific is accounted for the largest share due to high penetration of food & beverages and plastic industries in the region. China is the largest market not only in Asia Pacific but also in the global market. Synthetic Phenolic Antioxidant is holding the largest share of 79% in the market. Food industry is expected to be the dominant end user for Phenolic Antioxidant Market across all regional segments during forecast period. Pharmaceutical industry is projected to grow at a significant CAGR during the forecast period 2017-2023.

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Segmentation:

The Global Phenolic Antioxidant Market is segmented on the basis of source, application, and region. On the basis of source, market is segmented into natural and synthetic. By application, the market is divided into food, plastics & rubber, pharmaceutical, cosmetic, and fuel & lubricant. Geographically, the global phenolic antioxidant market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Key Players:

The prominent players in the Global Phenolic Antioxidant Market are DSM (Netherlands), BASF SE (Germany), Oxiris Chemicals S. A. (Spain), Sumitomo Chemical Company (Japan), Chitec Technology Co., Ltd. (Taiwan), Mayzo Inc. (Georgia), Addivant (U.S.) Double Bond Chemical Ind., Co., Ltd. (Taiwan), Kumho Petrochemical Co., Ltd. (South Korea), Emerald Performance Materials LLC (U.S.), and others.

Regional Analysis:

Geographically, the Global Phenolic Antioxidant Market is segmented into five key regions Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia Pacific accounted for the largest market share in 2016, and is projected to grow at the highest CAGR of 5.20% during the forecast period. The dominance of Asia Pacific region is mainly due to the increasing demand for food from increasing population along with growing use of plastic ad rubber in this region. Asia Pacific region is followed by Europe, which accounted for the second largest market share and it is estimated to reach USD 420.47 million by 2023. Germany accounted the highest market share in Europe and expected to remain dominant throughout the forecast period owing to greater penetration of end user industries in the country.

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