Dublin, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The "Butylated Hydroxytoluene Market by Grade (Food, Technical), End-Use Industry (Plastic & Rubber, Food & Beverage, Animal Feed, Personal Care) and Region (APAC, Europe, North America, South America, Middle East & Africa) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Butylated Hydroxytoluene market is projected to grow from USD 230 million in 2022 to USD 301 million by 2027, at a CAGR of 5.5% from 2022 to 2027.
The growth of the Butylated Hydroxytoluene market is attributed to their high demand in plastic & rubber, animal feed and others industries.
Technical grade segment to be the largest grade of Butylated Hydroxytoluene
Technical grade BHT is mainly used in plastics, rubbers & elastomers, lubricating & specialty oils, industrial fats, oils & fatty acids, biodiesel fuel blends, linseed, soy & other plant-derived oils, and printing inks & coatings. Sasol Limited (South Africa) is the leading manufacturer of technical grade BHT globally.
Animal feed to be the second-largest segment during the forecast period
BHT protects the fat-soluble vitamins and other nutrients against oxidative degradation and loss of active ingredients in animal feed. It is widely used as a poultry feed additive and helps reduce mortality in the chicken population exposed to the infectious 'Newcastle' disease virus.
North America to be the second-largest market for Butylated Hydroxytoluene
North America is the second-largest market for Butylated Hydroxytoluene, accounting for a share of 29.4%, in terms of value, in 2021. The region is a leading producer of chemicals, petrochemicals, food & beverages, plastics, and personal care, globally. High per capita income, high skilled workforce, huge customer base, and easy access to raw materials have propelled the industrial development of the region.
This creates lucrative opportunities for chemicals, petrochemicals, food & beverages, plastics producers to establish manufacturing facilities. This, in turn, increases the demand for BHT in the region.
Competitive landscape
The study includes an in-depth competitive analysis of these key players in the Butylated Hydroxytoluene market, with their company profiles, and key market strategies.
The Butylated Hydroxytoluene market comprises major manufacturers such as
- Sasol Limited (South Africa)
- LANXESS (Germany)
- Eastman Chemical Company (US)
- Oxiris Chemicals S.A. (Spain)
- Camlin Fine Science (India)
- Finoric LLC (US)
Premium Insights
- Significant Opportunities in BHT Market
- Growth in Plastic Production Driving BHT Market
- Asia-Pacific to be Fastest-Growing Market
- China Held Largest Share of BHT Market
Market Dynamics
Drivers
- Growth in Global Plastics Production
- High Demand from the Prepared Food Industry
Restraints
- Growing Concerns Regarding the Use of BHT in Food & Beverage Industry
Opportunities
- Industrial Growth in Asia-Pacific
Challenges
- Development of Sustainable and Non-Toxic Alternatives to BHT
BHT Market, by Grade
- Technical to be Larger Grade Segment in BHT Market
- Technical Grade:Increasing Plastics Production to Drive Segment
- Food Grade: High Demand for Food-Grade BHT in Chewing Gums
BHT Market, by End-Use Industry
- Plastic & Rubber End-Use Industry to Lead BHT Market
- Plastic & Rubber:Demand for BHT in Polypropylene and Polyethylene Stabilization
- Food & Beverage:Use of BHT Characterized by Stringent Regulations
- Animal Feed: Demand for Poultry Feed Boosts Market
- Personal Care:Makeup Products Increasing Demand for BHT
Company Profiles
Major Players
- Sasol Limited
- LanxessAX
- Eastman Chemical Company
- Camlin Fine Science
- Oxiris Chemicals S.A.
- Finoric LLC
- Finar Limited
- Yasho Industries Limited
- Jay Dinesh Chemicals
- Twinkle Chemi Lab Pvt. Ltd.
Other Players
- Double Bond Chemical Ind., Co. Ltd.
- Dycon Chemicals
- Honshu Chemical Industry Co. Ltd.
- Vdh Chem Tech Pvt. Ltd.
- Kh Chemicals
- Otto Chemie Pvt. Ltd.
- Shiv Shakti Group
- Wego Chemical Group
- Octa Chem
- Shanghai Chemex
- Univar Solutions
- Silverline Chemicals
- Chemex Chemicals
- Kemin Industries
- Caldic B.V.
For more information about this report visit https://www.researchandmarkets.com/r/od7b19
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