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Butylated Hydroxytoluene Market Size, Share & Trends Analysis Report By Grade (Food Grade, Technical Grade), By End-use (Plastic & Rubber, Food & Beverage, Animal Feed, Personal Care), By Region, And Segment Forecasts, 2024 - 2030
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Butylated Hydroxytoluene Market Growth & Trends:

The global butylated hydroxytoluene market size is expected to reach USD 346.9 million by 2030, expanding at a CAGR of 5.6% from 2024 to 2030, according to a new study by Grand View Research, Inc. Butylated hydroxytoluene is an antioxidant food additive that protects unsaturated organic compounds in foods and oils from atmospheric oxidation. It is widely used in the plastics and rubber industry owing to its antioxidant characteristics, and its usage is expected to grow rapidly during the forecast period.

Furthermore, the growing demand for plastics and rubber from various industries, such as automotive and packaging, is expected to drive the overall market. For instance, according to OICA, in 2022, almost 85 million motor vehicles were produced worldwide, which shows an increase of 6% compared with 2021. As a result, an increase in automobile production is expected to increase demand for rubber tires, and thus positively influencing the industry growth over the forecast period.

Plastic antioxidants are additives that are added during plastic production to eliminate thermal and oxidation degradation, and they help in increasing the shelf-life of products. The usage of plastic antioxidants in polypropylene polymer resin is projected to be the highest during the forecast period as polypropylene usage has increased in packaging applications, which is likely to drive the plastic antioxidant market, stimulating the product demand at a global level.

The Asia Pacific region is expected to dominate the market for butylated hydroxytoluene during the forecast period, owing to the increase in consumption from countries like India and China. Moreover, the growth in automobile production in China is likely to promote the demand for rubber tires. Further, in 2022, around 2,70,20,615 units of automobiles were produced in the country, which shows an increase of 3% compared with 2021. Such growing demand is anticipated to boost the market growth in the coming years.

The competitive environment is moderately fragmented with prominent players such as Lanxess, Sasol Limited, Eastman Chemical Company, and Dycon Chemicals among others. These companies are focusing on R&D of new product developments to widen their portfolio and maintain a strong foothold in the global place. In July 2022, ChemPoint, a subsidiary of Univar Solutions, was chosen by shelf-life extension solutions provider CFS North America, under Camlin Fine Sciences, for the sales and distribution of its Xtendra BHT (butylated hydroxytoluene) product throughout the US and Canada.

Butylated Hydroxytoluene Market Report Highlights:

Table of Contents

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Butylated Hydroxytoluene: Market Variables, Trends & Scope

Chapter 4 Butylated Hydroxytoluene Market: Grade Estimates & Trend Analysis

Chapter 5 Butylated Hydroxytoluene Market: End-use Estimates & Trend Analysis

Chapter 6 Butylated Hydroxytoluene Market: Regional Estimates & Trend Analysis

Chapter 7 Competitive Landscape

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