Cresols Market Size

Cresols Market Size

Cresols Market size was over USD 340 million in 2015, and is anticipated to grow at over 3% CAGR.

Global cresols market size is primarily driven by escalating vitamin E demand in dietary supplements and food & beverages fortification. Changing consumer lifestyle and food habits along with fluctuating food nutrition content due to adulteration is the major driving factor for these dietary supplements. Meat consumption demand is directly proportional to the animal feed and animal feed additives such as vitamin E. In addition, global synthetic vitamin E consumption was more than 100 kilo tons in 2015 and must exceed 150 kilo tons by 2024, with an estimated gain more than 4% CAGR over the forecast timeframe. Furthermore, increasing nutraceuticals demand, particularly in Europe and Asia Pacific owing to increasing consumer awareness towards enhanced nutrient consumption will further complement industry growth.
 

Butylated hydroxytoluene (BHT), is a lipophilic organic compound and is a chemical derivative of phenol, which is useful for its antioxidant properties. BHT stabilizes fats and is used to retain aroma, color and food items flavor. It is used as a major antioxidant in cereals, gum, fast food, processed potatoes, drink mixes and snack foods. Also, the compound is found in food packaging, animal feed, cosmetics, pharmaceuticals, rubber and plastics. Meta-cresols are produced with co-production of BHT. The FDA considers BHT as Generally Recognized As Safe (GRAS) for usage as a food additive up to 0.02% concentration. High dose of this ingredient may cause significant damage to liver, kidneys and lungs. Oral consumption has also shown to have toxic effects on the blood coagulation system in the body. In addition, Japan, Romania, Sweden and Australia have forbidden the product use as food additive. Thus, increasing BHT criticism, a workhorse antioxidant based on p-cresol, regarding its consumption may hamper cresols market size over the forecast timeframe. However, some notable cresols market share is used in industrial applications such as automotive, electrical & electronics industries owing to its ability to withstand escalated temperature under mechanical load with minimum deformation and or creep. This has created new growth openings by making the product desirable in automotive applications such as natural gas valves, brake pistons and pulleys.