Butylated Hydroxytoluene (BHT) Market - By Application (Food, Animal Feed, Lubricating & Specialty Oils, Rubber, Personal Care & Cosmetics, Industrial Fats, Oils, & Fatty Acids, Printing Inks & Coatings, Food Packaging) & Forecast, 2023-2032

Butylated Hydroxytoluene Market Size

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.
 

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.
 

Butylated Hydroxytoluene Market Analysis

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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.

Butylated Hydroxytoluene Market Share

Some of the key players profiled in the butylated hydroxytoluene market report include:

• Lanxess AG
• Eastman Chemical Company
•  Oxiris Chemicals SA
•  KH Chemicals B.V
•  Spectrum Chemical Manufacturing Corporation
•  Akrochem Corporation
•  Twinkle Chemilab Pvt Ltd
•  Kemin Industries
•  Ratnagiri Chemicals Pvt Ltd
•  Cayman Chemical Company
•  Anmol Chemicals
•  AB Enterprises
•  Sasol Ltd and SI Group.

These firms engage in strategic partnerships and alliances to propel their market standing.
 

Butylated Hydroxytoluene Industry News

• In October 2022, Lanxess AG, a chemicals firm, announced a performance engineering materials joint venture with Advent International, a private equity firm. The joint venture comprised performance materials and specialty materials & intermediates divisions to expand business in Germany.
   
• In February 2023, Eastman Chemical Company, another key player in the market, completed the acquisition of Dalian Ai-Red Technology Co. Ltd., a paint protection and window film manufacturer. With this, the company intended to extend its portfolio offerings and boost its position in the paint protection materials market.
   

This butylated hydroxytoluene market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:

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By Application

• Food
• Animal Feed
  • Poultry
  • Swine
  • Fish feed
  • Cattle
• Lubricating & specialty oils
• Rubber
• Personal Care
• Industrial fats, oils & fatty acids
• Printing inks & coatings
• Food Packaging
• Other

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Thailand
  • Australia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa