PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515411
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515411
Aminic Antioxidant Market size was valued at USD 2,001.09 Million in 2023, expanding at a CAGR of 4.01% from 2024 to 2032.
The Aminic Antioxidant Market encompasses antioxidants derived from amines, crucial for preventing oxidation in various industries. The rising demand for food preservation, increasing awareness about the health benefits of dietary supplements, and growing applications in plastics and rubber industries are propelling the market growth. However, market growth faces restraints such as stringent regulatory requirements and fluctuating raw material prices. Opportunities lie in expanding applications in pharmaceuticals, cosmetics, and animal feed sectors, driven by ongoing research and development in antioxidant properties and formulations.
Aminic Antioxidant Market- Market Dynamics
Rising Consumer Awareness Fuels Growth in Aminic Antioxidant Market
Rising consumer awareness about the health benefits of antioxidants is significantly driving growth in the Aminic Antioxidant Market. For instance, according to a report by the National Institutes of Health (NIH), there has been a notable increase in consumer interest in dietary supplements containing antioxidants, with sales growing by 15% annually over the past five years. Additionally, initiatives by organizations like the World Health Organization (WHO) promoting the consumption of antioxidants to combat lifestyle diseases further bolster market demand. This heightened awareness is encouraging manufacturers to innovate and expand their product offerings across sectors such as food and beverages, pharmaceuticals, and cosmetics, aiming to cater to the growing consumer preference for antioxidant-rich products.
Aminic Antioxidant Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.01% over the forecast period (2024-2032)
Based on Type segmentation, Primary Aromatic Amines were predicted to show maximum market share in the year 2023
Based on Form segmentation, the liquid was the leading type in 2023
Based on Application segmentation, Plastics & Rubber was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Aminic Antioxidant Market is segmented on the basis of Type, Form, Application, End-User, and Region.
The market is divided into two categories based on Type: Primary Aromatic Amines and Secondary Aromatic Amines. Primary Aromatic Amines dominate due to their widespread use in various applications such as rubber, plastics, and lubricants, offering effective protection against oxidation. Secondary Aromatic Amines follow, prized for their stabilizing properties in polyurethane foams and industrial coatings.
The market is divided into three categories based on Form: Liquid, Powder, and Granules. Liquid forms lead due to their ease of handling and mixing in various applications like lubricants and coatings. Powder forms follow, valued for their convenience in the food and pharmaceutical industries, while granules are preferred for their controlled release in plastic and rubber processing.
Aminic Antioxidant Market- Geographical Insights
North America leading due to high consumer awareness and significant investments in health and wellness products. The United States, in particular, has a robust market, driven by the increasing demand for dietary supplements and fortified foods. Europe follows, with strong growth driven by stringent regulations and a high preference for natural antioxidants in the food and pharmaceutical industries. The Asia-Pacific region is emerging as a significant market, fueled by rising health consciousness, increasing disposable incomes, and expanding pharmaceutical and cosmetic industries in countries like China and India. Additionally, Latin America and the Middle East are witnessing gradual growth, supported by expanding urban populations and increasing health and wellness trends.
In the Aminic Antioxidant Market, established firms and emerging entities are competing vigorously to lead through innovation in products and strategic partnerships. Key players such as BASF SE, Solvay SA, and Addivant dominate the market with their extensive product portfolios and global distribution networks. These companies focus on research and development to enhance antioxidant properties and expand application areas in the food, plastics, and pharmaceutical industries. Emerging players like Everspring Chemical Co., Ltd. and Mayzo, Inc. are gaining traction by offering specialized antioxidant solutions tailored to niche applications. Strategic partnerships and mergers are prevalent strategies among market players to strengthen their market foothold and capitalize on evolving consumer preferences for healthier and more sustainable antioxidant products.
In September 2022, SI Group announced plans to increase its manufacturing capability for aminic antioxidants at its Rasal facility in India. The facility is projected to manufacture Ethanox 4757, a primary antioxidant widely used in lubricants, greases, heat transfer fluids, and various applications.
In October 2021, LANXESS expanded production capacity for light-color aminic antioxidants at its Taiwan site by numerous kilo tons, investing an upper single-digit million Euro to meet growing demand in APAC and further regions.
GLOBAL AMINIC ANTIOXIDANT MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BASF SE
Addivant USA LLC
ADEKA Corporation
Clariant AG
Dorf Ketal Chemicals India Private Limited
Double Bond Chemical Ind. Co., Ltd.
Eastman Chemical Company
Evonik Industries AG
Lanxess AG
Lubrizol Corporation
Oxiris Chemicals S.A.
R.T. Vanderbilt Holding Company, Inc.
SI Group, Inc.
Solvay S.A.
Songwon Industrial Co., Ltd.
Sumitomo Chemical Co., Ltd.
Others