Antioxidants are used to retard the reaction of organic materials such as synthetic polymers, with atmospheric oxygen. Such reaction can cause degradation of the mechanical, aesthetic, and electrical properties of polymers; loss of flavor and development of rancidity in foods; and an increase in the viscosity, etc. Though required in small amounts at any one time, they are absolutely necessary, as without antioxidants, many products would not last very long, and many plastics could not even be manufactured without their protective attributes. Acting as stabilizers, they are also useful in facilitating the production of fuel and lubricants. The market research company Ceresana has devoted its latest study to the industrial application of antioxidants. The worldwide market for antioxidants had a total volume of around 0.88 mln tons and a value of US$3.7 bln in 2007. With an annual growth rate of 3.9%, the volume of antioxidants is expected to reach 1.25 mln tons in 2016. Asia accounts for the greatest percentage of production followed by Europe and North America. Asia accounted for 47% of consumption in 2007, followed by Europe at 24%, North America at 22% and the rest of the world at 6%. Demand and production of antioxidants are continually shifting from the USA, Western Europe and Japan to the emerging markets of Asia; particularly China and India. This is mainly because wages there are lower and environmental regulations are not as strict. In the emerging countries themselves, domestic demand for consumption products containing antioxidants is growing. While few large suppliers of antioxidants dominate the relatively saturated markets of industrialized countries, the market in Asia is still very much fragmented. New Asian suppliers are creating an additional pressure on established manufacturers. Despite sufficient capacities, antioxidant prices are continuing to rise. Prices for raw materials, energy, transportation, wages, intermediate goods and final products all raise the price on the market. However, price increases are somewhat limited by the shift of antioxidant production to Asia. Polypropylene, being prone to oxidative degradation is the single largest polymer for antioxidant use, accounting for 35 % of the total antioxidant consumption. Songwon from Korea has grown to become the second major supplier mainly due to increasing consumption of polymer in Asia. Hindered phenolics and phosphites are the major types of antioxidants accounting for more than 90 % of the total consumption of antioxidants.