Butylated Hydroxytoluene Market Worth $301 Million by 2027

Chicago, Aug. 24, 2022 (GLOBE NEWSWIRE) — The Butylated Hydroxytoluene Market is expected to grow from USD 230 Million in 2022 to USD 301 Million by 2027, at a CAGR of 5.5% from 2022 to 2027, according to a new report by MarketsandMarkets™. Market growth is fueled by high demand in plastics and rubber, food and beverage, and animal feed industries.

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The technical grade segment will dominate the butylated hydroxytoluene market in terms of value during the forecast period

By category, the segment includes technical and food products. The technical segment is expected to account for the largest market share during the forecast period. This is attributed to the increasing use of BHT in plastics and rubber. BHT is widely used to stabilize polypropylene and polyethylene.

The plastic and rubber end-use industry segment will dominate the butylated hydroxytoluene market during the forecast period

Based on end-use industry, the Butylated Hydroxytoluene market is segmented into Plastic & Rubber, Food & Beverage, Pet Food, Personal Care, and Others. The plastics and rubber segment dominated the overall butylated hydroxytoluene market during the forecast period. This is attributed to the growing demand for antioxidants from the polymer industry. BHT is added during plastic production to eliminate thermal degradation and oxidation, and they help increase the shelf life of products.

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Asia-Pacific is the fastest growing market for the Butylated Hydroxytoluene Market over the forecast period

Asia Pacific is the fastest growing market for Butylated Hydroxytoluene over the forecast period. Easy availability of raw materials, low labor costs and growing urban population are driving international manufacturers of plastics, food and beverage, personal care, animal feed and agrochemicals to move their production facilities to the region, resulting in high demand for BHT. Asia-Pacific is a global plastics manufacturing hub, accounting for more than 50% of global chemicals production. Economic growth is also expected to propel the demand for BHT in countries such as India, China, Indonesia, and Thailand. China is estimated to be the largest and fastest growing BHT market in Asia Pacific during the forecast period.

Major Players in the Butylhydroxytoluene Market are:

  1. Element Solutions, Inc. (USA),
  2. Lucas Milhaupt Inc. (USA),
  3. Qualitek International Inc. (USA),
  4. Fusion Inc. (USA),
  5. Henkel AG & Co. KGaA (Germany),
  6. Senju Metal Industries Co. Ltd. (Japan),
  7. Koki Company Limited (Japan),
  8. Indium Corporation (USA) among others.

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