Butylated Hydroxytoluene Market Insights:
In a recent research report by Market Research Community, the butylated hydroxytoluene market is expected to surpass USD 379.1 Million by the year 2030, from USD 230.2 Million in 2021.
Butylated hydroxytoluene is a lipophilic organic chemical compound derived from phenol found in green algae. Butylated hydroxytoluene is used for avoiding the oxidation caused by free radicals in multiple applications such as manufacturing, lubricating and industrial oils, paints, food, coatings, and animal feeds. The chemical is also used as fuel additives in automotive hydraulic fluids.
The personal care cosmetics segment is projected to witness substantial growth during the forecast period owing to the preservation of lipsticks and moisturizers with anti-oxidant and stabilizing properties of butylated hydroxytoluene, coupled with the reduced risks of cosmetic deterioration caused by free radicals are expected to further support the growth of the personal care cosmetics segment during the forecast period.
Europe is expected to witness a significant CAGR growth of over 6.5% during the forecast period. The factors such as the rising research and development expenditures by major market players for bio-based and renewable materials coupled with the increased demand for BHT in growing industries such as bread, pet food, and dairy industries are anticipated to boost the BHT utilization as antioxidants and further accelerate the growth of butylated hydroxytoluene market in the European region.
The market is projected to grow at a significant pace reaching a CAGR of approximately 5.7%, over the forecast period of 2022–2030, despite a considerable fall in product sales during the initial phase of the pandemic spread and lockdown restrictions imposed globally.
The study is consolidated into major segments and further into sub-segments, such as by application (food, personal care cosmetics, animal feed, industrial fats, oils fatty acids, lubricating specialty oils, food packaging, rubber, printing inks and coatings, and others), by end-use (plastic rubber, consumer products, oil gas, food beverages, and automotive) to forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest butylated hydroxytoluene market trends, along with the major key players including Sigma-Aldrich Co. LLC, FINAR CHEMICALS, Dycon Chemicals, Merck Co., OXIRIS, LANXESS, AppliChem GmbH, Eastman, Sisco Research Laboratories Pvt. Ltd., and S. C. Johnson Son, Inc.
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