The global Antioxidant BHT market size accounted for USD 227.3 Million in 2020 and is expected to reach USD 339.4 Million by 2028, growing at a CAGR of around 5.3% between 2021 and 2028.
Antioxidant BHT Market
The global Antioxidant BHT market size accounted for USD 251.6 Million in 2020 and is expected to reach USD 375.6 Million by 2028, growing at a CAGR of around 5.3% between 2021 and 2028.
Antioxidant BHT is a derivative of phenol possessing antioxidant properties. BHT is butylated hydroxytoluene which is categorized under synthetic antioxidants and used as preservatives in oil and gas, food, consumer products, and other applications. It can protect healthy tissues against damage induced by oxidative stress.
Increasing intake of protein and rapidly growing industrialization have led to high meat consumption. This resulted in high development in the antioxidant BHT market. China and India are likely to show high growth in the antioxidant BHT market due to increasing meat consumption in these areas.
The outbreak of coronavirus has not only significantly impacted numerous industries but also all stages of the supply chain and value chain of various industries.
The health care is one such industry, which is currently facing challenges due to the lack of requirements for the products. The health care end-use industry is anticipated to experience the differential impact of the COVID-19 pandemic on each stage of its value chain through the mediums of the affected workforce at the industrial level, raw material supply (food ingredients, and additive products), trade & logistics, demand–supply volatility, and uncertain consumer demand. In addition, production, distribution, and inventory levels across the food & beverage industry spectrum have experienced the impact.
Antioxidant BHT is usually used to treat genital herpes and acquired immunodeficiency syndrome (AIDS). So due to superior properties and benefits of the products, the market has react positive in the pandemic.
Antioxidants are majorly employed for enhancing disease resistance in the protect cell membrane of skin as well as in the animals. Therefore the high employment of the antioxidant in animal feed is likely to trigger the development of antioxidant BHT market in the years to come. Antioxidants are majorly employed in the cosmetic sector. Hence development in the cosmetic sector is likely to directly affect the growth of the antioxidant BHT market. Antioxidants are also employed as the stabilizer in elastomers, rubbers, and polymeric materials. Hence, escalating rubber and plastic sector is expected to facilitate the development of antioxidant BHT market in years to come. On the other hand, long-term employment of antioxidant BHT resulted in adverse effect on animal & human health. This factor might hinder the development of antioxidant BHT market.
Nevertheless, in-progress R&D to improve antioxidant BHT properties is likely to offer new growth opportunities for antioxidant BHT market in the years to come. New marketing strategies used by market players are also set to bolster the growth of antioxidant BHT market. For instance, in March 2012, LANXESS Distribution GmbH marketed the feed additive BHT (butylhydroxytoluene) below Rovelox, the new brand name. The antioxidant modeled on Vitamin E earlier was traded below the “BHT Feed Grade” name.
|Historic Years||2018 - 2022|
|Forecast Years||2023 - 2030|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2023 to 2030|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Based on type, the market is segmented into food additives, fuel additives, and industrial additives. Food additives is likely to gain a major share in the market owing to its superior’s properties and benefits of consuming the products.
Based on application, the market is segmented into oil & gas, consumer products, and food and beverages. The products has wide usage in food and beverages thus, the segment is likely to grow at a moderate CAGE throughout the forecast period.
Key Market Players & Competitive Landscape
The report present comprehensive competitive outlook with company profiles of the key players operating in the global market. Key participants profiled in the report include Cargill, Caldic, Impextraco, LANXESS, Merisol USA LLC, Perstorp Group, Eastman Chemical Company, and Milestone Preservatives Private Limited among others.
The global Antioxidant BHT Market is segmented as follows:
The global Antioxidant BHT Market was valued at USD 251.6 Million in 2020.
The global Antioxidant BHT Market is expected to reach USD 375.6 Million by 2028, growing at a CAGR of 5.3% between 2021 to 2028.
Some of the key factors driving the global Antioxidant BHT Market growth are development in the cosmetic sector and high employment of the antioxidant in animal feed.
The global antioxidant BHT market was ruled with 55.15 % of total revenue generated by Asia Pacific in 2020. Increasing intake of protein and rapidly growing industrialization have led to high meat consumption. This resulted in high development in antioxidant BHT market. China and India are likely to show high growth for antioxidant BHT market due to increasing meat consumption in these areas.
Some of the major players of global Antioxidant BHT market includes Cargill, Caldic, Impextraco, LANXESS, Merisol USA LLC, Perstorp Group, Eastman Chemical Company, and Milestone Preservatives Private Limited.
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