Global Butylated Hydroxytoluene Market, By Grade (Technical Grade, Food Grade), Functionality (Food Preservatives, Antioxidant), Application (Food Additives, Fuel Additives, Industrial Additives, Polymeric Ingredients, Pesticide Ingredients, Cosmetic Ingredients, Others), End User (Oil and Gas, Food and Beverages, Animal Feed, Plastics and Rubbers, Consumer Products, Personal Care, Pharmaceutical, Chemical, Petroleum, Aerospace, Automotive, Others) - Industry Trends and Forecast to 2031.
Butylated Hydroxytoluene Market Analysis and Size
The essential factors contributing to the growth of the butylated hydroxytoluene market include the high demand from the prepared food industry. Also, the rise in the demand for the personal care industry is significantly contributing to the market’s growth. In addition, the rapid urbanization and rise in demand for synthetic antioxidants will also propel the market growth in the forecast period.
Data Bridge Market Research analyzes that the global butylated hydroxytoluene market which was USD 259.10 million in 2023, is expected to reach USD 394.63 million by 2031, growing at a CAGR of 5.4% during the forecast period of 2024 to 2031. In 2024, the application segment will dominate the market due to the high demand from the prepared food industry. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Butylated Hydroxytoluene Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in ML, Pricing in USD
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Segments Covered
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Grade (Technical Grade, Food Grade), Functionality (Food Preservatives, Antioxidant), Application (Food Additives, Fuel Additives, Industrial Additives, Polymeric Ingredients, Pesticide Ingredients, Cosmetic Ingredients, Others), End User (Oil and Gas, Food and Beverages, Animal Feed, Plastics and Rubbers, Consumer Products, Personal Care, Pharmaceutical, Chemical, Petroleum, Aerospace, Automotive, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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LANXESS (Germany), Sasol (South Africa), Eastman Chemical Company (U.S.), OXIRIS (Spain), HELM AG (Germany), Finoric LLC (U.S.), Honshu Chemical Industry Co. Ltd (Japan), Twinkle Chemi Lab Pvt Ltd (India), Yasho Industries (India), Milestone Preservatives Pvt Ltd. (India), FINAR CHEMICALS (India), Caldic B.V. (Netherlands), Impextraco NV (Belgium), Parchem Fine & Specialty Chemicals (U.S.), Perstorp (Sweden), KH Chemicals (Netherlands), DOUBLE BOND CHEMICAL IND., CO., LTD. (Taiwan), Astrra Chemicals (India), Ottokemi (India)
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Market Opportunities
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Market Definition
Butylated hydroxytoluene is a chemically derived fat-soluble organic compound of phenol which has excellent antioxidant properties. Butylated hydroxytoluene is a synthetic compound that is extensively used in the food and cosmetic industry owing to its food preservative and antioxidant properties.
Global Butylated Hydroxytoluene Market Dynamics
Drivers
- High demand from the prepared food industry
The high demand from the prepared food industry serves as a key driver in the market. BHT, a synthetic antioxidant, is widely used in the food industry to prevent oxidation and extend the shelf life of prepared foods. Its effectiveness in preserving the freshness and quality of packaged and processed foods, including snacks, cereals, and convenience foods, fuels its demand. As the prepared food industry continues to grow globally, the need for reliable antioxidants like BHT to maintain product stability and safety propels the expansion of the market.
- Rise in the Demand for the Personal Care Industry
The rise in demand for the personal care industry acts as a significant driver in the market. BHT is utilized as an antioxidant in personal care products, including cosmetics, skincare, and haircare items, to prevent the oxidation of oils and enhance product stability. As the personal care industry experiences heightened consumer demand for long-lasting, high-quality products, BHT's effectiveness in maintaining the integrity and extending the shelf life of formulations positions it as a crucial ingredient. The increasing popularity of personal care products worldwide contributes to the growth of the market.
Opportunity
- Rapid Urbanization and Rise in Demand for Synthetic Antioxidants
Rapid urbanization and the growing demand for synthetic antioxidants present a notable opportunity in the market. Urbanization leads to increased processed food consumption, raising the need for antioxidants in food preservation. In addition, the rise in demand for synthetic antioxidants, including BHT, is driven by their effectiveness in various industries, such as food, cosmetics, and pharmaceuticals. As urban populations expand, creating a higher demand for preserved and packaged goods, BHT stands to benefit from its multifaceted applications, positioning itself as a valuable solution for industries adapting to changing consumer preferences in urbanized environments.
Restraint/Challenge
- Rise in the Concerns of BHT Use in the Food and Beverages Industry
The rise in concerns regarding the use of butylated hydroxytoluene (BHT) in the food and beverages industry poses a restraint in the market growth. Increasing awareness about potential health risks associated with synthetic antioxidants has led to consumer preferences for natural alternatives. Regulatory scrutiny and demand for clean-label products further contribute to the restraint. As consumer awareness grows, there's a shift towards more transparent and health-conscious choices, challenging the widespread use of BHT in the food and beverages sector. Addressing these concerns and exploring natural alternatives become crucial for the sustained growth of the BHT market.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In October, 2022, Oxiris Chemicals unveiled IONOL AQUA50, a brand-new aqueous dispersion of BHT. All species may safely consume the new substance, which was created exclusively for the nutrition of humans and animals. IONOL AQUA50 necessitates a lower prescription than other products to get the same benefits since it has a large proportion of BHT and other small-sized antioxidants distributed in an aqueous medium. Oil-based and aqueous versions of this item can be added to many product types
- In April, 2022, Florida Food Products, a provider of clean-label ingredient solutions, introduced VegStable. It is a novel plant-based antioxidant that contains BHT
Global Butylated Hydroxytoluene Market Scope
The butylated hydroxytoluene market is segmented on the basis of grade, functionality, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Grade
- Technical Grade
- Food Grade
Functionality
- Food Preservatives
- Antioxidant
Application
- Food Additives
- Fuel Additives
- Industrial Additives
- Polymeric Ingredients
- Pesticide Ingredients
- Cosmetic Ingredients
- Others
End User
- Oil and Gas
- Food and Beverages
- Animal Feed
- Plastics and Rubbers
- Consumer Products
- Personal Care
- Pharmaceutical
- Chemical
- Petroleum
- Aerospace
- Automotive
- Others
Global Butylated Hydroxytoluene Market Regional Analysis/Insights
The butylated hydroxytoluene market is analyzed and market size insights and trends are provided by country, grade, functionality, application and end user as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.
Asia-Pacific is expected to dominate the market due to the strict regulations for the control of VOC emissions and strong presence of major consumers such as India, China and Japan.
North America is expected to be the fastest growing region in the market due to the rapid rise in the consumption of poultry products in the developed countries such as U.S and Canada.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Butylated Hydroxytoluene Market Share Analysis
The butylated hydroxytoluene market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to butylated hydroxytoluene market.
Some of the major players operating in the butylated hydroxytoluene market are:
- LANXESS (Germany)
- Sasol (South Africa)
- Eastman Chemical Company (U.S.)
- OXIRIS (Spain)
- HELM AG (Germany)
- Finoric LLC (U.S.)
- Honshu Chemical Industry Co. Ltd (Japan)
- Twinkle Chemi Lab Pvt Ltd (India)
- Yasho Industries (India)
- Milestone Preservatives Pvt Ltd. (India)
- FINAR CHEMICALS (India)
- Caldic B.V. (Netherlands)
- Impextraco NV (Belgium)
- Parchem Fine & Specialty Chemicals (U.S.)
- Perstorp (Sweden)
- KH Chemicals (Netherlands)
- DOUBLE BOND CHEMICAL IND., CO., LTD. (Taiwan)
- Astrra Chemicals (India)
- Ottokemi (India)
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