The advancement in technology and Rising trend of ready-to-eat and processed food has been providing opportunities for market growth
The global butylated hydroxytoluene market size is projected to reach nearly USD 350 million by 2028. Additionally, the market is forecasted to grow a CAGR of above 5.3% over the forecast period of 2020-2028. In the cosmetics industry, antioxidants are mainly used as stabilizers. As a result, the cosmetics industry's growth is projected to fuel the antioxidant demand, driving the BHT market during the forecast era. Antioxidants are also used in animal feed to help animals avoid disease and protect their skin cell membranes. As a result, the BHT market is expected to grow in the coming years as the use of antioxidants in animal feed increases. In polymeric fabrics, antioxidants are used as stabilizers. As a result, growth in the rubber and plastic industries is expected to benefit the BHT industry in the near future.
The report also outlines the various characteristics of the global butylated hydroxytoluene industry by assessing the market from value chain analysis. Moreover, the butylated hydroxytoluene market report comprises various qualitative parts of the butylated hydroxytoluene industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The butylated hydroxytoluene market has huge competition amongst the already well-known and new market players. Also, the butylated hydroxytoluene industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
In emerging countries, rapid industrialization has resulted in the establishment of new manufacturing units. Lubricants are needed for the proper operation of the machines in these production units. BHT stabilizes the lubricant and aids in the machine's effective operation as an antioxidant and fuel additive. This helps to expand the BHT market. BHT has several advantages; however, long-term use of BHT can have negative effects on human and animal health. In the near term, this is expected to have a negative impact on the BHT industry.
Butylated hydroxytoluene is in high demand in the Asia Pacific region due to the rapid industrialization and the meat consumption in the region. Antioxidants are increasingly being used in the preservation of meat. As a result, the BHT market in the area is expected to mature soon. Furthermore, due to rapid industrialization, demand for fuel additives has been rising in Asia Pacific. This is helping to drive the BHT market in the area forward. China's agricultural market is also closed to pork from the United States. Many questions about American pork were posed at a recent conference in China. As a result, the nation may soon open its doors to pork exporters from the United States.
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). The major players in the market comes up with some of the developments to enhance the market growth in the global industry.
Segment Overview of 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
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America