Home > Chemicals & Materials > Butylated Hydroxytoluene (BHT) Market
Butylated Hydroxytoluene Market size valued at USD 297 million in 2022 and will progress at around 6% CAGR from 2023 to 2032 due to the increasing demand for books, newspapers, journals, and other reading materials.
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The growing cosmetics industry is fueling BHT market growth. The rise in disposable income of consumers has enabled them to spend on luxury personal care products and the rising trend of men’s product lines for grooming has bolstered product adoption in cosmetics. An Ipsos March 2022 report stated that nearly 15% of heterosexual men between 18 and 65 of age use male cosmetics and makeup products in the U.S., while 17% consider using them in upcoming years. This is boosting the demand for butylated hydroxytoluene in the cosmetics industry.
Report Attribute | Details |
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Base Year: | 2022 |
Butylated Hydroxytoluene (BHT) Market Size in 2022: | USD 297 million |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 6.3% |
2032 Value Projection: | USD 544 million |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 230 |
Tables, Charts & Figures: | 208 |
Segments covered: | Application and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Artificial preservatives & antioxidants are subjected to stringent toxicological testing procedures to ensure food safety. Many countries are now implementing national food policies in line with growing health concerns. For instance, in April 2022, the EU announced restrictions on antioxidant butylated hydroxytoluene, sunscreen homosalate, and several other substances in cosmetics. Nonetheless, consumer preference for cost-effective products would encourage product use in various industries and aid in overcoming this restraint.
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The food application of butylated hydroxytoluene market is estimated to grow at over 6.5% CAGR from 2023 to 2032. The segment growth can be attributed to the growing working population and increased consumer purchasing power, which is driving the demand for processed foods. The disposable personal income increased by 0.7% in June 2022 to over USD 120 billion compared to May 2022 while personal consumption expenditures reached more than USD 180 billion in the U.S.
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North America butylated hydroxytoluene market is set to reach USD 155 million by 2032, attributed to the growing consumption of natural gas, petrochemical, and petroleum products. Moreover, significant growth in the automotive sector has fueled the demand for rubber products for the production of automotive parts, tires, and mechanical rubber goods, thereby complementing product outlook. The U.S. automotive sector witnessed a sale of nearly 1,384,676 new cars in March 2023, up by 19.2% compared to February 2023.
Some of the key players profiled in the butylated hydroxytoluene market report include:
These firms engage in strategic partnerships and alliances to propel their market standing.
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