Butylated Hydroxytoluene Market by Grade (Food, Technical), End Use Industry (Plastic and Rubber, Food and Beverage, Animal Feed, Personal Care): Global Market Size Estimates and Forecast (2022–2030)

BMIRE00025863 | Pages: 100 | Food and Beverages | Sep 2022 | Type: Global | Status: Published

The market crossed US$ 271.17 million in 2022 and is expected to hit US$ 401.86 million by 2030, recording a CAGR of 5.0% during the forecast period.

Butylated Hydroxytoluene has been significantly growing with the high adoption plastic production.

BHT is a common antioxidant used in the creation of polymers. All thermoplastic and thermosetting resins are subject to oxidation, which is a significant limiting factor. BHT is essential for preventing oxidation in the manufacture of polymers. Production of plastics is anticipated to increase in emerging economies, as well as in Europe and North America, as a result of the expanding demand from end use industries. These elements are anticipated to increase demand for BHT in the plastics stabilizing industry significantly.

Within the report, the market is segmented into grade, end use industry and geography. By grade, the market is further segmented into food and technical. On the basis of end use industry, the market is bifurcated into plastic and rubber, food and beverage, animal feed and personal care. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Increasing demand for antioxidants has resulted in growth of butylated hydroxytoluene market.

The primary factor driving the market of butylated hydroxytoluene is the increasing demand for antioxidants in the polymer industry. During plastic production, to eliminate thermal and oxidation degradation, plastic antioxidants are additives that are added into it, which also helps increase product shelf-life. The usage of plastic antioxidants in polypropylene polymer resin is projected to be the highest as polypropylene usage has continuously increased in the packaging applications, this factor is likely to drive the plastic antioxidant market, resulting into the demand for the butylated hydroxytoluene market to be driven.

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Plastic and Rubber is the fastest growing segment driving the market

During the forecast period, plastic and rubber segment is anticipated to represent the largest end use industry segment in the butylated hydroxytoluene market. BHT is used as an antioxidant to stabilize polymer during the entire process and protect it throughout the life of the product. It is recognized a safe product and is also approved for use in plastic food containers and other wrappings.

Recent strategic developments in butylated hydroxytoluene market

The butylated hydroxytoluene market has undergone several significant developments, and a few of these have been mentioned below:

  • Kemin Industries partnered for the distribution channel with DKSH Business Unit in June 2020, to distribute its products in Myanmar, Vietnam, and Cambodia. This partnership would enable the company to expand its existing client base in South East Asia.
  • Eastman Chemical Company partnered with DKSH Business Unit for the distribution purpose in September 2020, to distribute its products in the Asia Pacific region. This partnership would enable the company to provide better services to its customers in the Asia Pacific.

The butylated hydroxytoluene market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Lanxess, Eastman Chemical Company, Kemin Industries, Cargill Inc., and Parchem Fine and Specialty Chemicals are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Plastic and Rubber providers
  • Food manufacturers
  • Personal Care segment
  • Food related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Animal Feed suppliers
  • Food and Beverage distributors and sales firms
  • End users of personal care products
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Food
    • Technical
  • End Use Industry
    • Plastic and Rubber
    • Food and Beverage
    • Animal Feed
    • Personal Care
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Lanxess
    • Eastman Chemical Company
    • Kemin Industries
    • Cargill Inc.
    • Parchem fine and Specialty Chemicals
  • Lanxess
  • Eastman Chemical Company
  • Kemin Industries
  • Cargill Inc.
  • Parchem fine and Specialty Chemicals
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