Global Phenolic Antioxidant Market is projected to reach USD 1.8 Billion by 2023

Global Phenolic Antioxidant Market – by Source (Natural Synthetic), by Application (Food Industry, Plastic & Rubber Industry, Pharmaceutical Industry, Cosmetic Industry, Fuel and Lubricant Industry, Other), and by Region – Forecast till 2023

Synopsis of Global Phenolic Antioxidant Market
Phenolic antioxidants are compounds or systems that delay autoxidation by inhibiting formation of free radicals or by interrupting propagation of the free radical through the donation of an electron or hydrogen atom. The Global Phenolic Antioxidant Market can be categorized into natural and synthetic segment based on source. Among these, synthetic phenolic antioxidant is the most sought out segment and accounts for more than three fourth of the market share in terms of value and volume. As a whole, the global phenolic antioxidant market is expected to exhibit a healthy single digit growth rate over the forecast period and expected to reach USD 1830.05 million by 2023 end. Phenolic antioxidant can also protect food by the deactivation of metal ions and singlet oxygen. Based on the inhabitants of free radical formation property, these antioxidants are used in many applications include, plastic & rubber, pharmaceutical, cosmetics, fuel & lubricant and other. Based on application, six segments that are covered in the report, cumulatively expected to grow at 5.10% per annum. The largest segment is food industry; which is growing at highest CAGR to reach USD 433.95 million, by the end of 2023.

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FIGURE 1 GLOBAL PHENOLIC ANTIOXIDANT MARKET SHARE, BY APPLICATION, 2016 (%)

Regional Analysis 
Regionally, the global phenolic antioxidant market is segmented into Asia Pacific, Europe, North America, Middle East, and Latin America. Asia Pacific is the leading region in the market that accounted for more than one third of the global consumption and is projected to grow at the highest CAGR of 5.20%. The regional market trend substantiating the growth of phenolic antioxidants includes, the growing population in the region, which propels the growth in the food industry in the region that demand for use of phenolic antioxidant to protect the food. Asia-Pacific market for phenolic antioxidants are divided into China, Japan, and India among other Asian and Oceania countries. Comparatively, China dominated the market for phenolic antioxidant over other countries in the region accounted largest market share in 2016. A similar growing trend of the use of synthetic antioxidant has been observed in other developing markets such as Latin America and Middle East & Africa due to the growing demand of packaged food in the region.

Europe accounted second largest market share regionally, and estimated to reach USD 420.47 million by 2023. The region is anticipated to grow below average CAGR due to strict government regulation in the region for use of synthetic phenolic antioxidants. Germany is the leading country in Europe due to greater penetration of end user industries in the country.

North America is the third largest market in the global phenolic antioxidant market and accounted 20% of the market share as of 2016. The U.S. dominated the North American market and expected to grow at highest CAGR due to increasing demand of natural phenolic antioxidants in the region.

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, among others. Geographically, the global phenolic antioxidant market is segmented into – Asia Pacific, Europe, North America, Latin America, the Middle East & Africa.

Key Players
The key players operating 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.

Geographic Analysis  
The report covers brief analysis of geographical region such as:
• North America
– US
– Canada

• Europe
– Germany
– France
– Italy
– Spain
– U.K.
– Russia
– Rest of Europe

• APAC
– China
– India
– Japan
– Rest of Asia-Pacific

• Latin America

• Middle East & Africa

Key Findings 
The Global Phenolic Antioxidant Market is projected to reach USD 1830.05 Million by 2023 with a 5.10 % CAGR during forecast period of 2017-2023. Regionally, Asia Pacific accounted for the largest share due to the high penetration of food & beverages and plastic industries in the region. China is the largest market in Asia Pacific as well as in the global market. Based on source, synthetic phenolic antioxidant accounted the largest share of 79% in the market, however expected to grow below average CAGR due to the growing demand of natural phenolic antioxidants among the consumers. Based on the end use application, the food industry is the dominant end user for phenolic antioxidant market across all regional segments during the forecast period. The food industry is followed by the pharmaceutical industry that is projected to grow at significant CAGR during the forecast period from 2017 to 2023.

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Intended Audience
• Manufacturers and distributors of phenolic antioxidants.
• Manufacturers and distributors of phenolic antioxidants.
• Suppliers and traders.
• Government, associations and industrial bodies.
• Investors and Trade experts.
• Consulting in chemical experts.

DC – Description 
• Phenolic antioxidants
• Antioxidant supplements
• Phenolic antioxidants for polymers
• Foods high in antioxidants
• Butylated hydroxyanisole (BAH)
• Butylated hydroxytoluene (BHT)
• Hindered Phenolic
• Synthetic Phenolic Antioxidants
• Natural Phenolic Antioxidants
• Phenolic Compounds
• Phenolic Acids
• Polyphenol Antioxidants

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