Home > Bulk & Specialty Chemicals > Butylated Hydroxytoluene Market
Butylated Hydroxytoluene Market size was valued at over USD 250 million in 2021 and is estimated to grow at more than 6% CAGR from 2022 to 2030. Improving living standards and changing lifestyle choices will drive the market expansion.
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Butylated hydroxytoluene (BHT), known to aid in treating genital herpes and AIDS, will witness massive demand owing to the rising awareness associated with its significance in ongoing research on cancer treatment. Furthermore, BHT finds usage as an antioxidant in metalworking fluids, rubber, transformer oil, and more.
Government initiatives play a vital role in the butylated hydroxytoluene (BHT) market value. In the previous decade, BHT was postulated as an antiviral drug but was later unlisted by scientific literature and restricted for use by any drug regulatory agency. However, government authorities in different nations have supported the use of BHT as additives in food products to treat various diseases, such as immunodeficiency syndrome, cold sores, etc.
|Market Size in 2021:||USD 250 Million|
|Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||6%|
|2030 Value Projection:||USD 425 Million|
|Historical Data for:||2017 to 2020|
|No. of Pages:||232|
|Tables, Charts & Figures:||191|
|Pitfalls & Challenges:|
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Increasing efforts by research agencies to promote technological advancement in the BHT industry will also accelerate industry trends. The firms primarily focus on rigorous research and development initiatives to improve the reliability of BHT products. Additionally, strategic acquisitions, partnerships, collaborations, and product range expansion efforts to strengthen their business standing will benefit the overall market scenario.
Stringent norms and regulations regarding the use of butylated hydroxytoluene is a major factor restraining butylated hydroxytoluene market growth. Rigid guidelines associated with the application of BHT, particularly as synthetic antioxidants. Nonetheless, recent acceptance of BHT for other applications may fuel product penetration. For instance, in December 2021, the EU’s Scientific Committee on Consumer Safety (SCCS) released its new concentration limits for including BHT in cosmetics products, providing new opportunities to market players.
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In terms of applications, the butylated hydroxytoluene market is classified into animal feed, food, lubricating & specialty oils, rubber, printing inks & coatings, industrial fats, oils & fatty acids, food packaging, personal care & cosmetics, and others. Among these, the food application segment is projected to cross USD 106.5 million by 2030. Rapid industrialization has boosted manufacturing activities, which in turn has changed consumer lifestyles, and augmented the demand for processed foods.
The BHT market from the animal feed application segment is speculated to expand at a CAGR of over 6% through 2030. The cumulative global demand for processed foods containing fish and poultry products will foster the market outlook. To cite an instance, as per the United Nations Food and Agriculture Organization, the rising consumption of livestock products has been favorable for the animal feed industry, which account for around 30% of the global value of agriculture.
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North America butylated hydroxytoluene market is poised to reach USD 120 million by 2030. The escalating consumption of processed and packaged food products in the region as a result of hectic lifestyles, busy work schedules, and the presence of structured retail channels will drive the progress of the North America industry.
LATAM BHT market is projected to surpass USD 20 million by 2030. The expansion in production capacity of iron and steel, chemicals, and petroleum products for various end-use industries will proliferate the demand for industrial fluids, which in turn will promote the uptake of butylated hydroxytoluene in the LATAM region.
SI Group, Sasol, Eastman Chemical Company, Oxiris, Lanxess, KH Chemicals, Kemin Industries, Sinofi Ingredients, Cayman Chemical, Ratnagiri Chemicals Pvt Ltd., Akrochem Corporation, and Spectrum Chemical Manufacturing Corp. are some of the key market players. These companies are majorly engaging in pharmaceutical research and food preservative developments, along with partnerships and collaborative agreements, to elevate their market standing.
The COVID-19 pandemic had a positive impact on the market due to the increase in processed food consumption across the globe. As a result of strict lockdowns, many people were inclined toward packaged and processed food products. During this period, farmer preference for animal feed products owing to the rise in demand for meat and poultry dishes had improved the use of butylated hydroxytoluene in the production process. Moreover, the post-pandemic phase had also enhanced the purchasing power of consumers, which shifted their interest toward products integrated with BHT additives, thereby impelling business growth.
The butylated hydroxytoluene market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in USD Million from 2017 to 2030 for the following segments