The global butylated hydroxytoluene market is anticipated to reach a value of around USD 350 million by 2028. Butylhydroxytoluene is in high demand due to its use in plastics, animal care, food & beverages, personal care, agrochemicals, lubricants, fuel additives, and biodiesel among the end-use sectors that are driving the market. BHT demand growth is fueled by the growing personal care industry, which is driven by increasing customer interest about their appearance and personality, as well as rising concerns about water quality and the trend of wastewater recycling. Butylated hydroxytoluene is a popular antioxidant and stabilizing agent in cosmetics and personal care products. When materials are exposed to air and vulnerable to oxidation, it helps to preserve properties and consistency such as odor, colour, and texture. Oeover, the global cosmetic industry is anticipated to rise to a value of USD 18 Million by 2026 with a demand of over USD 14 Million in the year 2019.
The widespread use of butylated hydroxytoluene in the cosmetic and personal care industry, as well as the cosmetic industry's continued development, are expected to drive up demand for butylated hydroxyanisole in the coming years. Expanding R&D facilities and investing more in research activities allows manufacturers to concentrate more on product production and formulate new, higher-quality products to keep up with the growing competition in the butylated hydroxytoluene industry. For example, Kemin Industries began building a new quality control laboratory (QC lab) at its global headquarters in Iowa in July 2020.
Butylated Hydroxytoluene Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 350 million|
|Growth Rate||CAGR of 5.3% during 2021-2028|
|Segment Covered||Grade, End Use Industry, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||Sasol Limited (South Africa), Lanxess AG (Germany), Eastman Chemical Company (US), Oxiris Chemicals S.A. (Spain), HELM AG(Germany), Finoric Llc (US), Honshu Chemical Industry Co. Ltd (Japan), Twinkle Chemi Lab Pvt Ltd (India), Yasho Industries Limited (India), Milestone Preservatives Pvt Ltd (India)|
Key Segments of the Global Butylated Hydroxytoluene Market
Grade Overview, 2018-2028 (USD Million)
- Technical Grade
- Food Grade
End Use Industry Overview, 2018-2028 (USD Million)
- Plastics & Rubbers
- Food & Beverages
- Animal Feed
- Personal Care
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global butylated hydroxytoluene market.
- Butylated Hydroxytoluene is widely used for various end uses in food and beverages, owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing personal care uses, there is a rise in the demand for butylated hydroxytoluene which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global butylated hydroxytoluene market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the butylated hydroxytoluene industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Grade and End Use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global butylated hydroxytoluene market. The report will benefit: Every stakeholder involved in the butylated hydroxytoluene market.
- Managers within the butylated hydroxytoluene industry looking to publish recent and forecasted statistics about the global butylated hydroxytoluene market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global butylated hydroxytoluene market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The new QC and R&D lab would enable the organization to conduct testing through its different business units and improve its innovation capability. In addition, major players are concentrating their efforts on acquiring smaller market players in order to broaden their product range and geographic footprint. The butylated hydroxytoluene market is expected to be restrained to some degree during the forecast period due to strict regulations imposed by regulatory bodies in various regions on the use of butylated hydroxytoluene in the food industry. Antioxidants such as BHA, for example, can be used by food manufacturing firms in accordance with FDA guidelines.
Additionally, the volume of antioxidants contained in food products should be labeled on the packaging. The stringent regulations that food manufacturers must meet in order to produce various food products containing BHT which pose a challenge for food manufacturers, resulting in a decline in the butylated hydroxytoluene market during the forecast era. Due to the global lockdown in many nations, the spread of the COVID-19 pandemic has resulted in supply chain disruption. Whereas the price of petroleum sources has risen, so has the price of para cresol, which is a raw material used to make BHT. This could lead to a price increase for BHT goods in the future.
In addition, Manufacturing companies are facing additional difficulties in resuming routine activities due to increased awareness of workplace welfare and protection norms. However, numerous nations, including the United States, Italy, and China, reopened in May 2020, restoring manufacturing and retail operations. BHT is commonly used as an antioxidant in the food industry to avoid spoilage and preserve the freshness of foods. It's used in a variety of items, from bakery, potato chips, sausages, cereals, chewing gums, dried beef, and other fat- and oil-containing foods.
Based on the type, the market is segmented into technical grade and food grade. The technical grade segment has the largest share in the market in 2019 and the market is forecasted to grow with the significant rate of above 6.5% CAGR over the forecast period. The growing use of BHT as an antioxidant in plastics, lubricating & specialty oils, industrial fats, bio-diesel fuel blends, rubbers & elastomers, oils & fatty acids, linseed, soy & other plant-derived oils, and printing inks & coatings to preserve stability and reduce degradation is primarily responsible for the segment's development.
End Use Segment
In terms of the end use segment, the market is segmented into Plastics & Rubbers, Food & Beverages, Animal Feed, Personal Care & Others. In 2020, the plastics and rubber segment has the fastest growth in the market in 2019 and the market is forecasted to grow with the significant rate of above 7% CAGR over the forecast period. This expansion is mostly due to increased demand of plastics and rubbers. Butylhydroxytoluene Market is primarily produced in Asia Pacific and North America. Many foreign plastics manufacturers have set up shop in these areas, supplying BHT manufacturers with lucrative growth opportunities.
The Asia Pacific region has the largest share in market with a CAGR of more than 35.2% in 2019 and is anticipated to continue with the same position during the forecast years 2018-2028. In 2019, the China is projected to hold the majority share of Asia Pacific demand for butylated hydroxytoluene. The growing demand for butylated hydroxytoluene from heavily populated countries such as India and China is due to the consumer industry growth in the Asia Pacific region.
In the global butylated hydroxytoluene industry, the North America region is expected to expand rapidly in the coming years, with a CAGR of 6.5 percent. Poultry consumption is steadily increasing in developing countries such as the United States and Canada. According to the USDA, per capita poultry intake in the United States was 112.5 pounds in 2019 and is forecast to hit 113.6 pounds by the end of 2020. According to the American Pet Products Association's (APPA) 2019-2020 National Pet Owners Survey, 67 percent of U.S. households, or about 85 million homes, own a pet.
The major players of the global butylated hydroxytoluene market are Sasol Limited (South Africa), Lanxess AG (Germany), Eastman Chemical Company (US), Oxiris Chemicals S.A. (Spain), HELM AG(Germany), Finoric Llc (US), Honshu Chemical Industry Co. Ltd (Japan), Twinkle Chemi Lab Pvt Ltd (India), Yasho Industries Limited (India), Milestone Preservatives Pvt Ltd (India), and Finar Limited (India). The butylated hydroxytoluene market consists of top, medium level and a number of domestic players in the global market. In addition to this, the well-established players in the industry have made various strategies and research & developments to compete with other players in the regional and global market.