Butylated Hydroxytoluene Market by Grade (Food Grade, Technical Grade), End-Use Industry (Plastics & Rubbers, Food & Beverages, Animal Feed, Personal Care), Region (APAC, Europe, North America, South America, MEA) - Global Forecast to 2024
“The butylated hydroxytoluene (BHT) market is projected to register a CAGR of 5.3% between 2019 and 2024.”
The global BHT market is estimated to be USD 218 million in 2019 and is projected to reach USD 282 million by 2024, at a CAGR of 5.3% during the same period. The increasing demand for BHT in various end-use industries as an antioxidant to retard deterioration, to maintain color, stability, and flavor is expected to drive the demand for BHT. Growing concerns regarding the use in the food & beverages industry are restraining the demand for BHT.
“Technical grade is the faster-growing segment of the BHT market.”
The market for technical grade is projected to register the higher CAGR during the forecast period. This high growth is mainly attributed to demand for BHT as an antioxidant in plastics, rubbers, coatings, printing inks, lubricants, biodiesel, and elastomers. Industrial growth in APAC especially in the agrochemicals, printing inks, coatings industries is driving the demand for BHT.
“Plastics & rubbers is the largest end-use industry segment of the BHT market.”
Plastics & rubbers is projected to be the largest end-use industry segment of the BHT market. The growing per capita plastics consumption especially in packaging, automotive, and building & construction is driving the demand for plastics more than global GDP growth rate. Hence, many international plastics manufacturers have commenced manufacturing facilities in Asia Pacific and North America. This in turn is diving the demand for BHT in the plastics & rubbers end-use industry.
“Asia Pacific is projected to be the largest BHT market.”
The BHT market has been studied for Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific is projected to be the largest butylated hydroxytoluene market. The high demand is mainly attributed to industrial growth of the region. APAC is a hub for plastics, personal care, animal feed chemical, food & beverages, and pharmaceutical industries. Many foreign investors commenced the manufacturing facilities in the region due to low production costs. This in turn is driving the demand for BHT in the region.
Breakdown of profiles of primary interviews for the report on the BHT market
By Company Type - Tier 1 - 41%, Tier 2 -24%, and Tier 3 - 35%
By Designation - C Level - 50%, Director Level - 25%, and Others - 25%
By Region -North America - 33%, Europe - 28%, Asia Pacific - 25%, South America - 9%, Middle East & Africa - 5%
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) are the leading manufacturers of BHT globally.
The report covers the BHT market on the basis of grade, end-use industry, and region. This study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report has been focusing on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the BHT market, high-growth regions, and drivers, restraints, opportunities, and challenges in the market.
The report provides insights into the following pointers:
Market Penetration: Comprehensive information on BHT offered by the top players operating in the market
Product Development/Innovation: Detailed insight into upcoming technologies, R&D activities, and new applications in the BHT market
Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for butylated hydroxytoluene across different regions
Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the BHT market
Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the BHT market
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