Butylated Hydroxytoluene (BHT) Market Analysis

Butylated Hydroxytoluene Market Analysis

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.
 

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.