According to a new report by Reports and Data, the Butylated Hydroxytoluene market size was 227.12 Million in 2019, and it is expected to reach around USD 339.99 Million by 2027, growing at a CAGR of 5.1% through the forecast period.
New York, NY -- (SBWIRE) -- 05/03/2021 -- The development of consumer industries owing to their rise in demand are propelling the market growth.
Market Size – USD 227.12 Million in 2019, Market Growth - CAGR of 5.1%, Market Trends – The advent of prepared food industry globally.
The global Butylated Hydroxytoluene Market is forecast to reach USD 339.99 Million by 2027, according to a new report by Reports and Data. Butylated Hydroxytoluene (BHT), also known as dibutyl hydroxytoluene, is an antioxidant derived from phenol. This compound is found in bacteria such as green algae as well as phytoplankton. For industrial purposes, it is produced through the reaction of 2-methyl propene with 4-methyl phenol. BHT is chiefly used as a food preservative due to its antioxidant properties. It is also used to avoid oxidation in industrial additive fluids such as oil and fuel.
The market for butylated hydroxytoluene is influenced by the rising demand for cosmetics products, the evolution of environment friendly chemicals required by healthcare industries, and development of food and beverage industries, which require large butylated hydroxytoluene. Moreover, the utility of butylated hydroxytoluene as an animal feed to increase disease resistance in animals drives market growth.
The previous-mentioned factors together create opportunities for the market growth while factors such as undesirable effects of butylated hydroxytoluene pose limitations in the market. These restrictive factors include the adverse effects of this compound on animals and humans. Consistent developments in the butylated hydroxytoluene market owing to research have enhanced the efficiency as well as hazardless nature of dibutyl hydroxytoluene.
Key participants are Cargill Incorporated, Caldic B.V., Impextraco NV, LANXESS, Parchem Fine & Specialty Chemicals, Perstorp Group, Milestone Preservatives Pvt. Ltd., KH Chemicals, Eastman Chemical Company, Merisol USA LLC, among others.
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Further key findings from the report suggest
- The growth of the segment of technical grade BHT is mainly attributed to growing utilization as an antioxidant in lubricating, rubbers and elastomers, plastics and specialty oils, industrial fats, bio-diesel fuel blends, oils and fatty acids, linseed, soy and other plant-derived oils, and printing inks and coatings to mitigate deterioration, and to maintain stability. This segment is set to experience the highest CAGR of 5.5% during the forecast period.
- The polymeric Ingredient segment is expected to observe a market share of 11% during the forecast period from among the applications of BHT. This is due to the rapid commercialization of utility of these chemicals to prevent oxidation of polymeric products.
- Consumer products like eyeliner, moisturizers, lipsticks, eyebrow pencils, eye shadows, foundation, and face powders, among cosmetics are the major drivers for the market. Research in this field is leading to the development of products that are less prone to affect human health. This segment is set to experience the highest CAGR of 7.0% during the forecast period.
- Asia Pacific is estimated to observe the highest CAGR of 6.5% during the forecast period. Countries like India, Japan, and China are rapidly catching up with the growth in the butylated chemical market. BHT prevents oxidation in food products, including processed foods, baked goods, and meat products. Increasing consumption of cookies and breads owing to busy schedule will promote baked goods consumption hence fostering product demand in this region.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/butylated-hydroxytoluene-market
For the purpose of this report, Reports and Data have segmented into the global Butylated Hydroxytoluene Market on the basis of grade type, application type, end-users, and region:
Grade Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Food Grade
Technical Grade
Application Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Food Additives
Fuel Additive
Industrial Additives
Polymeric Ingredients
Pesticide Ingredients
Cosmetic Ingredients
Others
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Oil & Gas
Food & Beverages
Consumer Products
Aerospace
Automotive
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017-2027
Chapter 3. Indicative Metrics
Chapter 4. Butylated Hydroxytoluene Market Segmentation & Impact Analysis
4.1. Butylated Hydroxytoluene Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing demand for plastic manufacturing
4.2.2.2. Growing prospect in prepared food industry
4.2.3. Market restraints analysis
4.2.3.1. Growing concerns regarding toxicity of BHT
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
…..
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Cargill Incorporated
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Caldic B.V.
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Impextraco NV
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. LANXESS
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. Parchem Fine & Specialty Chemicals
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
10.6. Perstorp Group
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Technology Insights
10.6.4. Strategic Initiatives
Continue…..
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