Butylated Hydroxytoluene Market worth USD 425 Million by 2030, says Global Market Insights Inc.
Selbyville, Delaware, Sept. 22, 2022 (GLOBE NEWSWIRE) —
The butylated hydroxytoluene market value is anticipated to reach USD 425 million by 2030, according to a new research report by Global Market Insights Inc.
Butylated hydroxytoluene is an organic constituent applicable in various industries due to its ability to prevent oxidation in products. When utilized in food products, it aids in preventing the formation of any radicals and contamination and avoids oxidative rancidity of fats and oils. The growth of the processed food industry will drive the market trends. Rapid utilization in the production of cosmetics, along with the increasing demand for automobiles across the globe, will also promote the uptake of butylated hydroxytoluene.
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Stringent regulations regarding the use of synthetic antioxidants may emerge as a prominent restraining factor. In recent decades, the strong emphasis of governments on the use of such inorganic chemicals for pharmaceutical or cosmetic applications that can harm human health or animal health has further negatively impacted the butylated hydroxytoluene market outlook. Moreover, consistent research and development activities may encourage manufacturers to eventually replace BHT with more organic components in medicines and cosmetics.
Soaring disposable income to push rubber application segment demand
Butylated hydroxytoluene market from the rubber application segment reached over USD 50 million in 2021 and is anticipated to progress at a CAGR of 6% through 2030. The surging demand for tires attributed to the expanding automotive industry will fuel the uptake of rubber.
Meanwhile, the personal care & cosmetics application segment is slated to cross USD 30 million by 2030. This is attributed to escalating consumer awareness and disposable income, especially in emerging countries, which has brought about a considerable growth in the cosmetics industry. Thus, surging product utilization in cosmetics will support overall market expansion.
Browse key industry insights spread across 232 pages 172 market data tables and 19 figures & charts from the report “Butylated Hydroxytoluene Market Analysis By Application (Food, Animal Feed [Poultry, Swine, Fish Feed, Cattle], Lubricating & Specialty Oils, Rubber, Personal Care & Cosmetics, Industrial Fats, Oils, & Fatty Acids, Printing Inks & Coatings, Food Packaging), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Rising demand for processed food to help MEA emerge as a key regional ground
Middle East & Africa butylated hydroxytoluene market will depict a CAGR of over 4.5% through the analysis timeframe. The rising investments in the processed food industry and the steadily growing lubricating & specialty oils sector will foster the regional industry trends.
Product development to remain a pivotal growth strategy
The competitive landscape of the BHT industry is inclusive of SI Group, Sasol, Eastman Chemical Company, Oxiris, Lanxess, KH Chemicals, Kemin Industries, Sinofi Ingredients, Cayman Chemical, Ratnagiri Chemicals Pvt Ltd., Akrochem Corporation, and Spectrum Chemical Manufacturing Corp. These companies engage mainly in increasing the efficacy of the product and expand their production capacity to strengthen their market position.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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