The global Butylated Hydroxytoluene Market is valued at USD 303.7 Million in 2023 and is projected to reach a value of USD 491.1 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 5.49 % between 2024 and 2032.
Key highlights of Butylated Hydroxytoluene Market
- In 2023, the Asia Pacific region accounted for the highest revenue share accounting for 38.00% of the market.
- The North American market is expected to grow significantly from 2024 to 2032 with a CAGR of around 6.2%.
- This indicates that the North America market will experience substantial expansion in terms of Butylated Hydroxytoluene demand and revenue generation during the projected timeframe.
- In 2023, the technical segment accounted for major market growth and contributed more than 63.8% of the total revenue share,
- Based on End-Use Industry, the Plastic & rubber segment accounted for the market share of about 53.1% in 2023,
- Global plastic production is experiencing significant growth, driving the demand for Butylated Hydroxytoluene (BHT)
Butylated Hydroxytoluene Market Size, 2023 To 2032 (USD Million)
Butylated Hydroxytoluene Market: Regional Overview
In 2023, the Asia Pacific region appeared as the dominant player in the Butylated Hydroxytoluene (BHT) market, capturing a significant revenue share of 38.00%. This dominance can be ascribed to several factors that have propelled the growth of the BHT market in the region. The increasing demand for BHT as an antioxidant in various industries, such as food and beverages, cosmetics, and pharmaceuticals, has contributed to the Asian market's growth. BHT is known for its ability to prevent oxidation and improve the shelf life of products, making it a crucial ingredient in these industries. Market.
Additionally, according to the Association of Natural Rubber Producing Countries (ANRPC), Malaysia's rubber exports dropped to RM 35.99 billion (USD 8.169 billion) in 2022 compared with RM 71.01 billion (USD 16.11 billion) in 2023. Therefore, a decrease in rubber exports is expected to affect the market's growth studied. Rapid industrialization and urbanization in major countries like China and India have increased disposable income, changing lifestyles, and increased focus on personal care and wellness. This has further fueled the demand for BHT in the region as it is extensively used in cosmetic and personal care products. The food and beverage industry in the APAC region has witnessed significant growth due to changing dietary preferences and increasing consumer awareness about the benefits of consuming healthy and safe food. BHT is commonly used as a food preservative, so its demand has surged in this region.
Furthermore, the Asia-Pacific region is home to several major Butylated Hydroxytoluene (BHT) producers, including Honshu Chemical Industry Co. Ltd and Milestone Preservatives Pvt. Ltd, Ratnagiri Chemicals Pvt. Ltd, Dycon Chemicals, VDH Chem Tech Pvt. Ltd, and FINAR, to name a few. This has further boosted the revenue share of the region in the BHT.
The Butylated Hydroxytoluene market in China, with a valuation of USD 78.8 Million in 2023, is estimated to reach around USD 101.3 Million by 2032. This projection signifies a significant Compound Annual Growth Rate (CAGR) of 2.83% from 2024 to 2032. BHT is widely used in China's food and beverage industry as a preservative, particularly in edible oils. The expansion of China's automotive manufacturing industry is expected to drive the demand for rubber tires, positively impacting the Butylated Hydroxytoluene market. In 2022, the country saw a 3% growth in automobile production, with approximately 27,020,615 units manufactured, surpassing the previous year's numbers. Furthermore, China's flourishing cosmetics and pharmaceutical sectors, which heavily rely on BHT for its antioxidative properties, contribute to the market growth. The revenue from cosmetics retail trade in China increased from approximately USD 9.18 billion in January 2022 to around USD 9.76 billion in January 2023. With its manufacturing capacity and cost advantages, China can produce BHT competitively, driving domestic and global market demand.
India's Butylated Hydroxytoluene (BHT) industry is anticipated to grow significantly, driven by multiple factors. Firstly, India's position as the sixth-largest producer of natural rubber globally provides a strong base for the rubber products industry, including tires, which are significant consumers of BHT. Additionally, India's thriving e-commerce industry is projected to become the second-largest globally by 2034, creating a surge in demand for packaging materials, including plastics. With the Indian e-retail industry estimated to exceed ~300-350 million shoppers and achieve a Gross Merchandise Value (GMV) of USD 100-120 billion by 2025, there will be a substantial need for BHT as a stabilizer and antioxidant in the manufacturing of plastic packaging materials. These promising trends in the rubber and packaging industries make India an attractive market for the Butylated Hydroxytoluene sector.
U.S. Butylated Hydroxytoluene Market Overview
The U.S. Butylated Hydroxytoluene industry is expected to grow, with a projected valuation of USD 58.91 Million in 2023. BHT is an antioxidant that commonly has applications in various end-use industries, including food and beverage, cosmetics, and pharmaceuticals, because of its ability to prolong the shelf life of products. One of the main drivers of industry growth is the growing demand for BHT in the food and beverage industry. BHT is frequently used as a food preservative to avert oxidation and spoilage, thereby extending the lifespan of food products. With the rising consumer choice for packaged and processed foods, the demand for BHT in the food industry is expected to grow substantially.
Furthermore, the cosmetics and personal care industry also significantly contributes to the demand for BHT. It is commonly used in beauty and skincare products to prevent the oxidation of oils and fats, ensuring product stability and longevity. Additionally, the pharmaceutical industry is anticipated to drive the demand for BHT. It is commonly used as an antioxidant in medications and pharmaceutical formulations to prevent oxidative degradation and enhance the shelf life of drugs.
The industry is anticipated to witness a Compound Annual Growth Rate (CAGR) of 5.8% from 2024 to 2032, reaching a valuation of approximately USD 98.01 Million by 2032. The rising demand for BHT in various industries and its effectiveness as an antioxidant are expected to fuel industry growth during the forecast period.
The global Butylated Hydroxytoluene market can be categorized as Grade, End-Use Industry, and Region.
- Plastic & rubber
- Food & beverage
- Animal feed
- Personal care
- Other End-Use Industries
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Sasol Limited
- Eastman Chemical Company
- Oxiris Chemicals S.A.
- Camlin Fine Scienc
- Finoric LLC
- Honshu Chemical Industry Co. Ltd
- Milestone Preservatives Pvt. Ltd
- Ratnagiri Chemicals Pvt. Ltd
- Dycon Chemicals
- VDH Chem Tech Pvt. Ltd
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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Butylated Hydroxytoluene Market: Grade Overview
In 2023, the technical grade segment dominated the market with a 63.8% share. Based on the Grade, the market can be categorized into Technical and Food. This is due to the growing demand for Butylated Hydroxytoluene in various industries, such as food and beverages, cosmetics, and pharmaceuticals. Butylated Hydroxytoluene is extensively used as an antioxidant to prevent degradation and spoilage of products, thereby enhancing their shelf life.
The technical grade BHT offers cost-efficiency and is widely used in industrial applications, making it the preferred choice among manufacturers. Additionally, the rising emphasis on product quality and safety regulations further contributes to the dominance of the technical grade segment in the Butylated Hydroxytoluene market.
Butylated Hydroxytoluene Market: End-Use Industry Overview
In 2023, the Plastic & rubber segment accounted for over 53.1% market share. The End-Use Industry segment is divided into Plastic & rubber, Food & beverage, Animal feed, Personal care, Other End-Use Industries. Butylated hydroxytoluene is widely used as an antioxidant in various industries, including plastic and rubber, to prevent the degradation of polymers caused by oxidation. In the plastic industry, BHT is extensively used as a stabilizer in processing polyethylene and polystyrene. It helps maintain structural integrity and prevents discoloration and degradation of plastic materials. With the rising consumer demand for plastic products in various end-use sectors, such as packaging, automotive, and construction, the use of BHT as an antioxidant in the plastic industry is anticipated to grow significantly.
Similarly, the rubber industry utilizes BHT as an antioxidant additive in producing tires, hoses, belts, and other rubber products. It helps improve rubber materials' durability and resistance to heat, aging, and environmental stress. As the automotive and tire industries continue to expand, the demand for BHT as an antioxidant in the rubber industry is projected to surge. Overall, the plastic and rubber segment is anticipated to experience substantial growth in the butylated hydroxytoluene market due to the extensive use of BHT as an antioxidant in these industries.
- Butylated Hydroxytoluene is widely used in food preservation to minimize spoilage and enhance the shelf life of various processed foods. With the rising customer demand for ready-to-eat foods and ready-to-eat meals, the use of BHT will show significant growth in the food market.
- Butylated Hydroxytoluene is used in many products in the personal care industry, including cosmetics, skincare, and hair care products, due to the presence of antioxidant properties. The rising focus on personal grooming and beauty routines is expected to drive the demand for BHT in the personal care industry.
- As consumers become more conscious about the potential health risks associated with synthetic antioxidants, such as BHT, a growing preference for natural alternatives exists. This change in customer choices will impact the industry's demand for BHT, which is responsible for developing new natural antioxidants.
- Butylated Hydroxytoluene has been under scrutiny due to potential health hazards associated with its consumption, such as allergic reactions and possible carcinogenic properties. Regulatory agencies, such as the U.S. Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA), have set strict guidelines for the maximum allowable limits of BHT in food products. As a result, manufacturers in the BHT market are under pressure to ensure compliance with these regulatory standards and address safety concerns to maintain consumer confidence.
The Butylated Hydroxytoluene industry will grow steadily in the coming years due to the rising demand from various sectors. The increasing production of motor vehicles globally is one of the major factors driving the industry's growth. In 2022, According to the International Organization of Motor Vehicle Manufacturers (OICA), 85.4 million motor vehicles were produced worldwide, an increase of 5.7% compared to 2021.This rise in automobile production is anticipated to boost the demand for rubber tires, benefiting the Butylated Hydroxytoluene market. The World Economic Forum also estimates that the production of plastic will be three times by the year 2050. This exponential growth of plastic output will likely create a massive demand for Butylated Hydroxytoluene, which is extensively used to enhance plastic products' shelf life and stability. As the world increasingly relies on plastics for various applications, the Butylated Hydroxytoluene market is anticipated to grow significantly. The growing food and beverage industry, mainly in emerging economies, will further augment the demand for Butylated Hydroxytoluene. The additive is widely used in the food and beverage sector to prevent spoilage and extend the shelf life of various products. Overall, with the continuous growth in automobile production, the escalating plastic production, and the rising demand from the food and beverage industry, the future of the Butylated Hydroxytoluene market looks promising. Market players will likely witness favorable opportunities and can strategically capitalize on these trends to sustain their market position and achieve significant growth.
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Global plastic production is experiencing significant growth, driving the demand for Butylated Hydroxytoluene (BHT). Butylated Hydroxytoluene is widely used as an antioxidant in plastic manufacturing to prevent the degradation of polymers caused by exposure to heat, light, and oxygen. As plastic usage continues to rise across various industries, such as packaging, automotive, and construction, the demand for BHT is surging. Additionally, the growth in the e-commerce sector, which heavily relies on plastic packaging, is further contributing to the expansion of the BHT market. With the increasing focus on sustainable and lightweight packaging solutions, BHT is expected to witness continued growth in the global plastic production market.
Industrial growth in the Asia Pacific region presents a potentially considerable opportunity for the Butylated Hydroxytoluene (BHT) industry. BHT is used on a large scale as an antioxidant in various end-use industries, including food and beverages, cosmetics, and pharmaceuticals. With the increasing demand for processed and packaged food products, the need for BHT as a food preservative is expected to grow significantly. Additionally, the booming cosmetics industry and the rising awareness about the benefits of using antioxidant ingredients will likely fuel the demand for BHT in the region. Furthermore, the growing pharmaceutical sector, driven by a rising population and improving healthcare infrastructure, is expected to grow the market. As a result, the Asia Pacific region offers substantial growth opportunities for the Butylated Hydroxytoluene market.
There is a growing concern regarding Butylated Hydroxytoluene (BHT) use in the food and beverage industry. BHT is a commonly used antioxidant added to various products to extend their shelf life and prevent oxidative rancidity. However, some studies have shown that the long-term consumption of BHT may have potential adverse health effects, such as liver and kidney disorders, as well as hormonal disruption. As a result, consumers are becoming more conscious about the ingredients in their food and demanding natural and organic alternatives. This has led to restraint in the BHT market as food and beverage manufacturers seek alternative antioxidant options that are considered safer and healthier.
The Butylated Hydroxytoluene (BHT) market is experiencing a positive shift due to the rising demand for rubber products. This can be attributed to the increasing investments in rubber plantations, such as Bridgestone's announcement of a USD 26.7 million investment in its rubber plantations in Southeast Asia in October 2022. The investments aim to secure a sustainable natural rubber supply for tire production. With the growing importance of BHT as an antioxidant in the rubber industry, this market is poised for significant growth. Manufacturers and suppliers of BHT can leverage this trend to capitalize on the opportunities presented by the expanding rubber sector.
The key players in the global Butylated Hydroxytoluene market include - Sasol Limited, LANXESS, Eastman Chemical Company, Oxiris Chemicals S.A., Camlin Fine Scienc, Finoric LLC, Honshu Chemical Industry Co. Ltd, Milestone Preservatives Pvt. Ltd, Ratnagiri Chemicals Pvt. Ltd, Dycon Chemicals, VDH Chem Tech Pvt. Ltd, FINAR among others.
Recent Market Developments
- In July 2022, CFS North America, a shelf-life extension solutions provider under Camlin Fine Sciences, has selected ChemPoint, a subsidiary of Univar Solutions, to handle the sales and distribution of its Xtendra BHT (Butylated Hydroxytoluene) product in the US and Canada.
- In October 2022, The first glove manufacturing facility in the Kingdom of Cambodia has been introduced by RMKH Glove at the Manhatten Special Economic Zone in Bavet. With an impressive yearly capacity of more than 600 million pieces, this manufacturing facility not only benefits local farmers by providing a platform to promote their natural rubber but also contributes to the growth of the rubber market in the area.