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The rubber-processing industry,
the plastics industry, the fuel and lubricant industry, and the food and
feed industry are major consumers of antioxidants. Antioxidants are part
of a company’s broader portfolio of additive products
designed to serve specific end-use industries. Therefore, antioxidants do
not really represent an industry but can be characterized as one component
of the larger chemical additives industry.
The principal chemical classes of antioxidants are amines, hindered phenols,
phosphites, thioesters and various natural or “natural-based” compounds.
These chemicals are used primarily to inhibit the oxidative degradation of
unsaturated organic materials such as elastomers, plastics, petroleum-based
fuels, and food or animal feed.
Antioxidant producers have been facing a significant shift of their customer
base to the Asia Pacific region, particularly to China. At the same time, market
competition from China and India is growing rapidly. To serve the growing global
customer base, major antioxidant producers have been forming partnerships with
local companies to expand local production bases. At present, the Asia Pacific
region reportedly accounts for 35% of the global production of antioxidants.
In 2005, the volume of antioxidants consumed in the three major industrialized
regions was distributed as follows: United States (45%), Western Europe (39%)
and Japan (16%). The sales value of all antioxidants consumed in the three
regions is estimated to have been $2.8 billion. Between 2005 and 2010, consumption
is expected to grow at an average annual rate of 1.8% and will be split similarly
among the three regions.
The following pie charts show consumption of antioxidants in the three major
regions by product type and end use on a volume basis.
The United States, Asia and Western Europe will continue to dominate global
rubber-processing chemical consumption and will account for an estimated 85%
of the global market in 2010. The Asia Pacific region (excluding Japan) will
post the most impressive gains in rubber-processing chemical demand through
2010, as a result of increasing automotive production and increasing tire production,
particularly in China. Automotive production in China is expected to exceed
that in Japan in 2007.
Globalization and consolidation are transforming the polymer additives industry.
Chemtura is a representative example. Typical customers are large polymer producers
and tire manufacturers who require a broad product line and new performance
solutions capable of serving growing derivatives production in Asia and the
Middle East. Also, China and India have large domestic markets that are attractive
to domestic producers. So much manufacturing activity has shifted to Asia over
the past two decades that substantial upstream raw material demand has been
transferred from North America and Western Europe to Asia. As a result, Asia
is becoming a major player in the export of low-cost downstream products, which
have a strong demand-pull on polymers.
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