Global Butylated Hydroxytoluene market, which amassed revenue worth nearly 223 (USD Million) in 2019, will register a CAGR of nearly 5.1% during the period from 2020 to 2026
The global Butylated Hydroxytoluene market, which amassed revenue worth nearly 223 (USD Million) in 2019, will register a CAGR of nearly 5.1% during the period from 2020 to 2026. The report offers assessment and analysis of the Butylated Hydroxytoluene market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Butylated Hydroxytoluene, which is also termed as dibutyl Hydroxytoluene, is a phenyl derivative. The compound occurs naturally in many kinds of bacteria such as green algae. In addition to this, the compound is produced by making 4-methyl phenol react with 2-methyl propene. Additionally, Butylated Hydroxytoluene (BHT) finds myriad applications in food, industrial fluids, and cosmetics for preventing forming of free radicals in the body as well as oxidation.
Reportedly, the product is also used in personal care items such as lipsticks, eye liners, moisturizers, face powders, and eyebrow pencils. It is used in fish oil as well as meal for preventing oxidation.
Market Growth Dynamics
The growth of the market is predicted to be influenced due to the massive product applications in plastics, agrochemicals, food & beverages, fuel additives, animal care, personal care, biodiesel, and lubricants. Rapid industrialization has resulted in rise in the production activities globally and this is likely to provide impetus to the market growth over the forecast timeframe.
Moreover, the thermal degrading characteristic of butylated Hydroxytoluene has facilitated its utilization in producing greases and lubricants. The product is also utilized in preparation of tablets or medicines, gels, and capsules. Apart from this, rise in the research activities in pharma & biotech sectors due to surge in chronic illness will raise the market proceeds over the forthcoming years. The compound also helps in prevention of oxidative stress in poultry. It also enhances color & mitigates bad taste in eggs & meat derived from poultry birds. Apparently, change in the dietary patterns as well as purchasing patterns will drive the demand for poultry meat, thereby driving the market growth over the forecast timeline.
Asia Pacific To Lead The Overall Market Growth Over Forecast Timespan
The growth of the butylated Hydroxytoluene market in the Asia Pacific zone over the forecast timespan is due to swift industrialization and surge in the meat intake in the countries like China, South Korea, and India. In addition to this, the compound is used for preserving meat and the product demand is likely to bulge in these countries to fulfill the food necessities of the inflating population. Apart from this, rise in the intake of bakery items like cookies and breads and processed foods due to hectic work schedules of the working population of the zone will bolster the regional industry growth over the assessment timespan.
Key players profiled in the report include Honshu Chemical Industry Co. Ltd., Eastman Chemical Company, HELM AG, Milestone Preservatives Pvt Ltd., Lanxess AG, Finar Limited, Sasol Limited, Oxiris Chemicals S.A., Finoric Llc, Twinkle Chemi Lab Pvt Ltd., and Yasho Industries Limited.
The ZMR-published market research report categorizes the global butylated hydroxytoluene market as follows:
By End-Use Industry
Growth of the market is predicted to be influenced due to the massive product applications in plastics, agrochemicals, food & beverages, fuel additives, animal care, personal care, biodiesel, and lubricants.
The CAGR of the industry is expected to be nearly 5.1% during the forecast timespan.
Asia Pacific region will contribute sizably towards the global market revenue over the estimated timeline.
The key market participants include Lanxess AG, Sasol Limited, Oxiris Chemicals S.A., Eastman Chemical Company, Finoric Llc, HELM AG, Twinkle Chemi Lab Pvt Ltd, Honshu Chemical Industry Co. Ltd, Finar Limited, Milestone Preservatives Pvt Ltd, and Yasho Industries Limited.