Synthetic Antioxidants Market, by Product type (BHA (E-320), BHT (E-321), TBHQ (E-319), and Propyl Galate (E-310)), by End-Use Industry, (Food preservative industry, Fuel industry, Polymer industry, and Pharmaceutical), and by Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Synthetic antioxidants are chemically synthesized petroleum-based food additives, which prevent rancidity of food due to auto-oxidation of lipid, which in turn increases the shelf-life of the food products. Synthetic antioxidants also find applications in pharmaceutical, cosmetics, plastic, and polymer industry. Limited and legislated use of synthetic antioxidants not only maintain texture but also increase shelf-life of processed food products.

Market Dynamics

  • A major driver promoting growth of the global synthetic antioxidants market is growing oncology therapeutic industry. Synthetic antioxidants have anti-carcinogenic and anti-mutagenic properties, which are used in treatment of disease such as cancer, diabetes, and heart diseases. Rising oncology therapeutic market is expected to propel demand for synthetic antioxidants. According to Community Oncology Alliance (COA), global oncology therapeutic medicine market is expected to reach US$ 200 billion by 2022.
  • Major restraint to growth of synthetic antioxidants market is growing awareness among people regarding natural antioxidants like polyphenols, flavonoids etc. especially in developed economies. Japan and some European economies banned application of few synthetic antioxidants such as BHA & BHT, as they adversely affect human health like cardiovascular disease, arthritis, ED etc.

Market Outlook

  • According to Coherent Market Insights analysis, North America has been the major consumer of synthetic antioxidants due to higher consumption of processed food in 2017. However, due to rising population and increasing disposable income, Asia Pacific region is expected to dominate the market in consumption of synthetic antioxidant attributed to rise in consumption of processed food. China and India are major growth engines in this region. According to India Brand Equity Foundation (IBEF), India’s contribution in global food consumption will be doubled by 2020, as compared to 2017, with the share of 5.8%.
  • Synthetic antioxidants are witnessing high demand, as it is used as an additive in rubber and polymers, especially in the Asia Pacific region, where rubber industry is growing at fastest rate. Automobile industry contributes around 70% in the total rubber consumption. According to Automotive Mission Plan 2026, Indian automotive industry is expected to reach US$ 300 billion from US$ 74 billion in 2016, which will definitely increase the rubber consumption and thereby, synthetic antioxidants.

Key Players in the Global Synthetic antioxidants Market

  • Key players in the synthetic antioxidants market include BASF S.E., Kemin Industries, Cargill Inc., Naturex S.A., Dow Chemicals, Clariant, Songwon, Lubrizol, Akrochem, Eastman, Baker Hughes, Addivant, Evonik, Double Bond Chemical, Akzonobel, Chemtura, Kalsek Inc., Barentz International BV, DuPont, Yasho Industries Ltd., Krishna Antioxidants Pvt. Ltd., Frutarom, and Camlin Fine Sciences Ltd.
  • Many players in synthetic antioxidants market are undergoing merger and acquisitions as a part of their strategic planning. For instance, in July 2017, Camelin Fine Sciences acquired 51% stake of a Chinese vanillin manufacturer, Wanglong Tech Company along with its CFS Europe Spa, Italy.

 Market Taxonomy

On the basis of Product type, the global synthetic antioxidants market is segmented into:

  • BHA (E-320)
  • BHT (E-321)
  • TBHQ (E-319)
  • Propyl Galate (E-310)

On the basis of end-use industry, the global synthetic antioxidants market is segmented into:

  • Food preservative industry
  • Fuel industry
  • Polymer industry
  • Pharmaceutical

On the basis of Region, the global silicone resins market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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