In terms of revenue, the Global Antioxidant BHT Market is expected to reach USD 50.3 Million by 2028, growing at a CAGR (Compound Annual Growth Rate) of 5.8% from 2022 to 2028.
Antioxidant BHT is in high demand worldwide due to its widespread use in the food and beverage and oil and gas industries. This upward trend is expected to continue during the projection period. With the need to manage free radicals, Antioxidant BHT is frequently used to stop oxidation in fluids like oil, fuel, and other materials. The demand for the Antioxidant BHT industry is also being driven by rising Antioxidant BHT usage in plastic and rubber throughout the predicted period.
· The announcement of the new BHT concentration limits by the EU's Scientific Committee on Consumer Safety (SCCS) in December 2021 gave market participants additional chances.
· The Food and Agriculture Organization of the United Nations reports that global meat output rose by 1.25% to 323 Mt in 2017, with small advances in the production of pig and sheep meat and more modest increases in beef and poultry production.
· DuPont Nutrition and Health developed a novel antioxidant component in June 2018 for usage in cereal and granola products. The brand-new antioxidant Guardian Toco 30P from DuPont is a powder that uses tocopherols that come from natural sources.
BHT is a common antioxidant used in the creation of polymers. All thermoplastic and thermosetting polymers have oxidation as a significant limiting factor. Its negative effects include surface deterioration, cracking, color change, loss of tensile strength and elongation, and flexibility. Additionally, it impacts a polymer's molecular weight, which in turn affects its other properties. BHT is essential for preventing oxidation in the manufacture of polymers. The Plastic Atlas 2019 reports that 460 million tonnes of plastics were produced worldwide in 2019. China produced one-third of the world's plastics in 2019, making it the greatest producer in the world. The production of plastics is anticipated to increase in emerging economies and Europe and North America because of the rising demand from end-use industries like packaging, automotive, construction, and agriculture. These elements are anticipated to increase demand for BHT in the plastics stabilizing industry significantly.
More than 50% of the world's output of polymers are produced in the Asia Pacific, which is the center of the chemical industry's global manufacturing. In addition, global petrochemicals, personal care, and food & beverage businesses are moving their manufacturing facilities to the area due to rising per capita spending on healthcare and food items, a sizable consumer base, a growing urban population, low labor costs, and easy access to raw materials. These factors have led some businesses to make investments in China and other nations in the Asia Pacific region. During the projection period, China is anticipated to be the area's largest and fastest-growing BHT market. As a result, it is anticipated that the region's industrial growth will increase demand for BHT.
During the forecast period, the Antioxidant BHT Market in Asia Pacificis anticipated to develop at the quickest rate. Over half of all polymers produced worldwide are made in Asia Pacific. In addition, global petrochemical, personal care, and food & beverage producers are relocating to the region because of increased consumer demand for healthcare and food products, as well as low labor costs and an abundance of raw resources. As a result, many businesses have opened offices in China and other Asian economies. During the projection period, China is expected to be both the most significant and fastest-growing BHT market in the region. Thus, it is anticipated that the regional industrial expansion will increase demand for BHT as an antioxidant.
The Global Antioxidant BHT Market is Segmented as follows
- Food Additives
- Fuel Additives
- Industrial Additives
- Oil & Gas
- Food & Beverages
- Consumer Products
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Antioxidant BHT Market is
Cargill (US), Caldic (Netherlands), Impextraco (Belgium), LANXESS (Germany), Merisol USA LLC (US), Perstorp Group (Sweden), Eastman Chemical Company (US), Milestone Preservatives Private Limited (India)
The Global Antioxidant BHT Market Scope can be Tabulated as below
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||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 impact analysis|