Pune, India -- (SBWIRE) -- 01/31/2018 -- Market Research Future published a Cooked Research Report on "Global Phenolic Antioxidant Market Research Report - Forecast to 2023"– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Mayzo Inc., Oxiris Chemicals S. A., Sumitomo Chemical Company, DSM, BASF SE, Chitec Technology Co., Ltd., Addivant, Double Bond Chemical Ind., Co., Ltd., Kumho Petrochemical Co., Ltd., Emerald Performance Materials LLC among others are some of the prominent players at the forefront of competition in the Global Phenolic Antioxidant Market and are profiled in MRFR Analysis.

Phenolic Antioxidant Market – Overview
Phenolic Antioxidant is predominantly used as preservatives and support in prevention of the oxidation of product. The Phenolic Antioxidant Market is predicted to grow substantially and register a strong growth with a CAGR of 5.10% over the estimated period. Some of the important drivers supporting the market growth are continuous growth in food industry as these are used as preservative for food and expansion of plastic industry. Phenolic Antioxidant is used as stabilizer in pharmaceutical and cosmetics industries. Rising awareness regarding the benefits associated with phenolic antioxidant along with continuous growth of pharmaceutical industry is predicted to drive the demand in near future. Moreover, growing per capita disposable income along with huge expenditure on cosmetics and personal care products is estimated to fuel the market growth. Synthetic Phenolic Antioxidant emerged as the largest market share in 2016 and is predicted to retain its dominance on account of rising demand as an additive in fuel & lubricant and plastic & rubber industry. However, natural Phenolic Antioxidant is estimated to increase in future on account of its increasing interest in pharmaceutical and food industry. Phenolic Antioxidant is widely utilized in numerous application such as food industry, plastic & rubber, pharmaceutical, cosmetic, fuel & lubricant, and others. Food industry segment accounted for the largest market share due to the wide utilization of Phenolic Antioxidant owing to its superior properties such as deactivation of metal ions and singlet oxygen. Food industry is followed by plastic & rubber which then trailed by pharmaceutical.

Geographically, Asia Pacific emerged as the leading market for Phenolic Antioxidant followed by North America and Europe in 2016. The Asia Pacific region provide huge growth potential for phenolic antioxidant and is predicted to register highest CAGR on account of presence of more number of manufacturers, growing application segment, and improved economic condition. The market growth is estimated to surge in numerous countries such as India, Thailand, China, Japan, South Korea, Malaysia, and Indonesia due to availability of inexpensive raw material, land, and labor. North American market is predicted to witness steady growth due to improving pharmaceutical sector. Europe is predicted to witness moderate growth owing to the substantial growth of cosmetics & personal care industry.

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Industry/ Innovation/ Related News:
May 2016- Songwon Industrial Co Ltd will be going to spread its phenolic product offering to meet the growing need of industrial lubricants market. The new product will be sold under the brand name SONGNOX. With this product launch the company strengthen its market in lubricant segment.

April 2016- Oxiris Chemicals has launched a high grade purity BHT to supplement the existing product portfolio. Product representation is in form of flakes along with two grades: BHT Technical Flakes and Ionol® CPF. Apart from it, new Flaker installation has been recently succesfully commissioned.

September 2016- An Australian scientist has developed a natural method to extract the "holy grail" of antioxidants from apples to provide a potent dietary supplement. With this innovation the demand for Phenolic Antioxidant is expected to fuel in the upcoming years.

March 2015:- The Spanish Center for Industrial Technological Development (CDTI) permitted the project under the tagline "Research And Development Of A New Route Of Synthesis Of 2,6-Di-Tert-Butil-P-Cresol From Phenol" which is filed by Oxiris Chemicals, SA (IDI-20150198). The project aimed to research and manufacture a new synthesis route for BHT, resulting in a new quality of BHT, and a sustainable process, sinking wastes production and raw material consumption for its production.

Competitive Landscape
The Phenolic Antioxidant report analyses the degree of competition among the market players as well as industry growth and market scenario. The Global Phenolic Antioxidant Market is at a growing stage, which represents modest stats in terms of market value and overall volume. In recent years, phenolic antioxidant market has witnessed moderate demand due increasing use in pharmaceutical and lubricant industry. Increasing automotive production& sales across the globe has resulted in increased usage of lubricant which in turn has raised the demand for phenolic antioxidant. Nevertheless, the degree of competition among the market players is still less on account of limited manufacturers. Globally market for Phenolic Antioxidant is categorised and it is moving towards growth expansion by specifically approving partnership, expansion and joint-venture strategies and product launch strategies.

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