Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Butylated Hydroxytoluene Market Size, Share & Trends Analysis Report By Grade (Technical Grade, and Food Grade), By End-use (Plastic & Rubber, Food & Beverage, Personal Care, Animal Feed, and Others), By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific Butylated Hydroxytoluene Market is forecast to witness market growth of 5.7% CAGR during the forecast period 2023-2030. In 2021, Asia Pacific market's volume surged to 17,708.2 Tonnes, showcasing a growth of 5.4% during 2019-2022.
In the pharmaceutical industry, BHT protects drugs and formulations from oxidative degradation. It enhances the stability of medications, ensuring their efficacy over an extended period. BHT finds applications in both oral and topical pharmaceutical formulations. BHT stabilizes plastics and rubber, preventing the deterioration of these materials due to exposure to environmental factors such as sunlight and heat. This application is critical in the production of various plastic and rubber products.
The market is experiencing advancements in production technologies, leading to improved efficiency and cost-effectiveness. Innovative manufacturing processes, such as molecular distillation and selective hydrogenation, are being employed to enhance the quality of BHT and meet the evolving needs of end-users. As emerging economies witness rapid industrialization and urbanization, the demand for BHT is expanding across diverse applications. The increasing understanding of the benefits of using antioxidants in different industries drives the market's growth. Regulatory standards for using antioxidants in various industries are becoming more stringent. This trend influences manufacturers to ensure compliance with regulatory requirements, leading to developing high-quality BHT products with minimal impurities.
Invest India reports that the food processing industry received a total of $12,354 billion in FDI between April 2000 and September 2023, representing 1.89 percent of the total FDI equity inflow. For fiscal year 2023, the food processing sector received an FDI equity inflow of $0.896 billion.
In 2025, the Indian food processing industry is estimated to reach $535 billion. Additionally, as the rubber industry in China expands, there is likely to be an increased demand for BHT to ensure the longevity and performance of rubber products. The tire industry is a significant rubber consumer. BHT is commonly used in tire manufacturing to protect rubber components with the growth of the automotive industry and increased tire production in China. Due to the aforementioned factors the market growth will drive in this region.
The China market dominated the Asia Pacific Butylated Hydroxytoluene Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $39,795.5 Thousands by 2030. The Japan market is registering a CAGR of 5.1% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.4% during (2023 - 2030).
Key Companies Profiled
- Sasol Limited
- Lanxess AG
- Eastman Chemical Company
- Camlin Fine Sciences Limited
- Dycon Chemicals
- Finar (Actylis)
- Yasho Industries Limited
- Milestone Preservatives Pvt. Ltd.
- Twinkle Chemi Lab Pvt. Ltd.
Market Report Segmentation
By Grade
- Technical Grade
- Food Grade
By End-use
- Plastic & Rubber
- Food & Beverage
- Personal Care
- Animal Feed
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.3 Porter Five Forces Analysis
Chapter 4. Asia Pacific Butylated Hydroxytoluene Market, By Grade
4.1 Asia Pacific Technical Grade Market, By Country
4.2 Asia Pacific Food Grade Market, By Country
Chapter 5. Asia Pacific Butylated Hydroxytoluene Market, By End-use
5.1 Asia Pacific Plastic & Rubber Market, By Country
5.2 Asia Pacific Food & Beverage Market, By Country
5.3 Asia Pacific Personal Care Market, By Country
5.4 Asia Pacific Animal Feed Market, By Country
5.5 Asia Pacific Others Market, By Country
Chapter 6. Asia Pacific Butylated Hydroxytoluene Market, By Country
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ps2hvs
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