Phosphite Antioxidant Market Size, Share & Analysis | 2031

Report Description

Phosphite Antioxidant Market Outlook

The Global Phosphite Antioxidant Market was estimated at USD 1,702.3 Million in 2022 and is anticipated to reach USD 1,755.0 Million by 2031, expanding at a CAGR of 5.8% during the forecast period.

Phosphites are secondary antioxidants that work by the decomposition of hydroperoxide intermediates in the oxidation process. They are effective at high temperatures and offer excellent protection against degradation during melt processing. Phosphites reduce discoloration and minimize melt viscosity as processing stabilizers. Some products contribute to the light stability and long-term thermal stability of plastic.

Get Free Sample Report

Phosphites provide stabilization during the high-temperature processing of adhesives, plastics, and coatings. Phosphite antioxidants achieve this by reducing hydroperoxides to non-radical alcohol and reducing free radicals, thus breaking the oxidative degradation cycle. Examples of phosphite antioxidants include tris(2,4-di-tert-butylphenyl) phosphite (a common type) and trisnonylphenyl phosphite.

These compounds are often used in conjunction with other stabilizers, such as phenolic antioxidants and UV absorbers, depending on the application. Phosphite antioxidants are used to increase the durability, heat resistance, and color stability of materials in various industries, such as automotive, electronics, packaging, and construction. They play an essential role in maintaining the integrity and longevity of polymers, resulting in improved performance and long lifespan of end products.   

Macro-economic Factors

Rising Industrialization

The industrial sector plays a key role in fostering socioeconomic resilience. Industrialization is driven by many factors such as government policy, labor-saving inventions, entrepreneurial ambitions, and demand for goods and services. Industrialization has a significant impact on the mass production of goods and services in the world.

Thus, industrialization contributes to economic growth by enhancing productivity, innovations, and exports throughout the world. This has surged the manufacture or production of various essential materials such as plastic, rubber, chemicals, pharmaceuticals, and others. Raw materials required for manufacturing such goods are in high demand, due to increased production capacity.

For instance, phosphite antioxidants function as stabilizers in plastic and rubber production. Therefore, the rise in the manufacture of these products supports the growth of the phosphite antioxidants market. Thus, industrialization impacts the manufacturing sector and leads to the growth of the phosphite antioxidants market.

Environmental Assessment

Environmental assessment is an integral course of action for market growth. Proper environmental assessment helps to make optimum utilization of scare human, natural, and capital resources. Environmental concerns need to be considered by any business to review the product and take explementary actions for the same.

Phosphite antioxidants are widely used in various industrial and commercial products to prevent oxidative reactions and lengthen product shelf life. However, these antioxidants are harmful to the environment. Industrial wastewater from petrochemical processes is an essential source of phosphite antioxidants, which negatively affects the environment. Therefore, taking effective actions such as regulations for the use and storage of this product is necessary for the growth of the market.

Raw Material Availability

Various raw materials are needed for manufacturing phosphite antioxidants, such as phenol, phosphorus oxychloride, and others. Raw material inventory is critical to ensure production process stability in small and large businesses. The production process encounters issues when inventory is not well-controlled. This results in an unstable production process, which impacts the company's finances.

The cost associated with the raw materials is high, which results in raw material shortage. Such conditions impact the marketing and customer supply. The inconsistent manufacturing process results in an unstable product supply in the market. Thus, controlling and maintaining raw material inventory is important to ensure that consumers' needs are satisfied.

Phosphite Antioxidant Market Dynamics

Market Driver- Increasing Demand for Fuel Additives

Phosphite antioxidants are intended to extend the life of a lubricant by increasing the oxidative resistance of the base oil. Antioxidants allow lubricants to operate at high temperatures. Many synthetic lubricants, including lubricating oils with hydrocarbon bases, are susceptible to oxidative deterioration.

This oxidation process, which is brought on by the creation of reactive free radicals and peroxides, is the main factor in the thickening of oil as well as the production of sludge and varnish. Hydroperoxides are broken down by phosphite antioxidants.

Antioxidants in engine oils allow drain intervals to be lengthened. They help to maintain viscosity, reduce deposit and sludge formation, prevent the generation of corrosion species, and protect oil at high temperatures while preserving the integrity of the oil for extended periods of time. Increasing the use of phosphite antioxidants as fuel additives is expected to drive the market.

Market Driver- Rising Demand from Plastics

Plastics are used by different industries such as automotive, packaging, electronics, and aerospace, among others. These industries use plastics, due to their lightweight and low-cost features. The rising demand for plastics from industries is increasing the production of plastics. Plastic in its natural state is unstable and degrades when exposed to oxygen.

Therefore, plastic manufacturers seek chemicals to stabilize the physical and chemical properties of plastics and delay the deterioration process. Phosphite antioxidants are chemical additives that prevent oxidation and protect materials from exposure to oxygen. Phosphite antioxidants are secondary antioxidants that delay the degrading process and maintain the color & weight of plastic.

Market Restraint- Government Regulations

Strict regulations imposed by several governments and regulatory bodies restrain the growth of the phosphite antioxidants market. Environmental concerns and health-related issues caused by the use of phosphite compounds have led to these governing policies.

For example, Tris(nonylphenyl) phosphite (TNPP), a type of phosphite antioxidant, has been classified as harmful to aquatic life with long-lasting effects on the environment by the European Chemicals Agency (ECHA). ECHA has listed TNPP as a Substance of Very High Concern (SVHC). These regulations are restraining market growth.

Market Opportunity- Increasing Demand from Developing Countries

Many developing economies are focusing on the development of industries by inviting investments as well as establishing manufacturing facilities. Products such as plastics, polymers, rubber, adhesives, and others are increasing in demand in developing countries; therefore, many developing nations have increased their investments in these products.

These products are further used by automotive, electronics, construction, packaging, aerospace, and other industries, due to their properties, such as resistance to degradation, color, strength, and high temperature. Manufacturing and export of materials, such as plastic, polymers, rubber, and adhesives, is increasing in India.

Plastic exports in India stood at US$ 10.9 billion in February 2022-2023. The government of India is increasing plastic exports to US$ 25 billion by 2025. These investments are increasing the demand for phosphite antioxidants, as they are used during the plastic manufacturing process. Such investments and industrial development are expected to create growth opportunities in the market.

Scope of Phosphite Antioxidant Market Report      

The report on the global Phosphite Antioxidant Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Phosphite Antioxidant Market Segmental Outlook

Based on type, the phosphite antioxidant market is categorized as Tris(nonylphenyl) Phosphate (TNP), Tris(1,2,2,6,6-pentamethylpiperidinyl) Phosphite (GW-540), Tris(2,4-di-tert-butylphenyl) Phosphite (Irgafos168), and others.

The Tris(nonylphenyl) Phosphate (TNP) segment held significant market share in 2022, due to the growing need for rubber, plastics, and others in various end-use industries. It protects the end product from degradation. It also works well with emulsion polymerized elastomers and light-colored solutions. Tris(nonylphenyl) Phosphate (TNP) is a viscous and clear liquid

Different polymers use it as an antioxidant, especially in non-toxic applications such as food packaging, PVC bottles, and sealing gaskets for food containers, among others. It provides good interaction with the polymer when it is mixed with phenolic anti-oxidants. It provides protection against degradation in rubbers and polymers.

It is used as a polymer stabilizer in rubbers such as SBR, Nitrile, and EPDM. It works incredibly well with emulsion polymerized elastomers and light-colored solutions. Track adhesive accumulation, viscosity rise, and retention are all successfully prevented by using TNPP. It stops synthetic rubbers and ABS plastics from yellowing. It works well as a process stabilizer for thermoplastic polymers such as polystyrene, polyethylene, and polypropylene.

Get Free Sample Report

Based on form, the phosphite antioxidant market is categorized into liquid and solid. The liquid segment held a significant market share in 2022. This is attributed to the features of liquid phosphites, such as high molecular weight, low viscosity, reduced migration, plate-out, and bloom. Liquid phosphite antioxidants improve the color of the product during the manufacturing process.

Liquid phosphite antioxidants are high-purity phosphite antioxidants that act as effective color, viscosity, and heat stabilizers providing added effect when used with hindered phenols. SI Group produces liquid phosphite antioxidants that are non-discoloring, non-staining stabilizers for rubber compounds that prevent the resignification of the polymer during manufacturing and storage.

Furthermore, they protect polymers against heat and oxygen degradation. Liquid phosphite antioxidants are used in the manufacture of SBR, BR, NBR, EPDM, polyolefin, PVC, ABS, polyurethane, and polyester fibers.

Get Free Sample Report

On the basis of application, the phosphite antioxidants market is categorized into plastics, rubber, adhesives, polymers, and others.

The rubber segment is projected to expand at a CAGR of 4.2% during the forecast period. The growth of this segment is attributed to the rising demand for lightweight and long-lasting rubber from the automotive industry. It is majorly used in the manufacture of tires, due to its strong properties.

Furthermore, rapid industrialization and growth in income & manufacturing output are expected to impact the growth of the rubber industry in the near future. All these factors together contribute to the growth of this market.

The rubber industry is a dynamic industry that has grown and changed dramatically over the years through innovation and discovery. The industry comprises manufacturers of synthetic and natural rubber compounds who derive rubber from petroleum as well as natural production.

Phosphite antioxidants serve an essential purpose in the rubber manufacturing industry. They enhance the service life and reliability of rubber and related products. Phosphite antioxidants are substances, which are utilized in rubber production to delay the aging of polymer compounds and prolong the service life of rubber products by inhibiting oxidation, heat, or light radiation.

These antioxidants are employed in tires blended with styrene butadiene rubber and polybutadiene rubber. These endow rubber products with considerable heat resistance. Phosphite antioxidants are used to protect rubber products against attack from oxygen (O2).

Get Free Sample Report

On the basis of the distribution channel, the market is divided into online and offline. The offline segment is projected to expand at substantial rate during the forecast period. The growth of this segment is attributed to the rising number of manufacturers selling their own products directly to consumers or buyers without using a third party.

Wholesalers bulk purchase the order at a discounted price, which helps with profits for manufacturers. This factor is expected to drive the phosphite antioxidants market. Offline distribution channel includes direct sales through manufacturers or indirect sales from wholesalers/distributors through offline distribution centers. In a non-retail setting, direct selling refers to the act of selling goods directly to customers.

Manufacturers who use direct selling do not use middlemen in the supply chain and instead sell products to consumers directly. The regional distribution center and wholesaler are just two of the intermediaries that are removed when a product is sold directly to the consumer. The direct sales company receives products from the producer.

When a product or service is sold indirectly, it is done through a partner or affiliate rather than company sales. A company utilizes indirect sales in place of recruiting sales staff or in addition to direct sales efforts. Distributors and wholesalers are frequently used for indirect sales.

Get Free Sample Report

Regional Outlook

On the basis of regions, the global phosphite antioxidants market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific accounted for largest market share in 2022. The market in Asia Pacific is expected to develop at a rapid rate during the forecast period, due to the high demand for materials such as plastic, adhesive, fuel additives, and rubber in the region. Emerging economies such as India are focusing on increasing the production of such materials due to increasing urbanization and industrialization.

The market in North America is expected to grow at significant rate during the forecasted period due to the increasing demand for plastic and fuel additives. Phosphite antioxidants are added to delay oxidation in plastics as well as in engine oil. This increases the performance of engine oil and plastics.

Get Free Sample Report

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Phosphite Antioxidant Market

• Historical, Current and Projected Market Size in terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global Phosphite Antioxidant Market Performance