NEW YORK, Nov. 4, 2019 /PRNewswire/ -- The global butylated hydroxytoluene market is forecast to reach USD 323.5 Million by 2026, according to a new report by Reports and Data. Butylated Hydroxytoluene (BHT), also known as dibutyl hydroxytoluene, is an antioxidant derived from phenol. This compound is found in bacteria such as green algae as well as phytoplankton. For industrial purposes, it is produced through the reaction of 2-methyl propene with 4-methyl phenol. BHT is chiefly used as a food preservative due to its antioxidant properties. It is also used to avoid oxidation in industrial additive fluids such as oil and fuel.
The market for butylated hydroxytoluene is influenced by the rising demand for cosmetics products, the evolution of environment friendly chemicals required by healthcare industries, and development of food and beverage industries, which require large butylated hydroxytoluene. Moreover, the utility of butylated hydroxytoluene as an animal feed to increase disease resistance in animals drives market growth.
The previous-mentioned factors together create opportunities for the market growth while factors such as undesirable effects of butylated hydroxytoluene pose limitations in the market. These restrictive factors include the adverse effects of this compound on animals and humans. Consistent developments in the butylated hydroxytoluene market owing to research have enhanced the efficiency as well as hazardless nature of dibutyl hydroxytoluene.
The population of Asia Pacific has been shifting towards the youth, and the demand from this populace is increasing in the prepared food and beverage market. Most of the developing countries are looking at China and India as the global market. These countries consist of over 35% population across the globe, and the utilization of derivatives of phenol in this region will grow at a very high rate.
Further key findings from the report suggest
The growth of the segment of technical grade BHT is mainly attributed to growing utilization as an antioxidant in lubricating, rubbers and elastomers, plastics and specialty oils, industrial fats, bio-diesel fuel blends, oils and fatty acids, linseed, soy and other plant-derived oils, and printing inks and coatings to mitigate deterioration, and to maintain stability. This segment is set to experience the highest CAGR of 5.5% during the forecast period.
The polymeric Ingredient segment is expected to observe a market share of 11% during the forecast period from among the applications of BHT. This is due to the rapid commercialization of utility of these chemicals to prevent oxidation of polymeric products.
Consumer products like eyeliner, moisturizers, lipsticks, eyebrow pencils, eye shadows, foundation, and face powders, among cosmetics are the major drivers for the market. Research in this field is leading to the development of products that are less prone to affect human health. This segment is set to experience the highest CAGR of 7.0% during the forecast period.
Asia Pacific is estimated to observe the highest CAGR of 6.5% during the forecast period. Countries like India, Japan, and China are rapidly catching up with the growth in the butylated chemical market. BHT prevents oxidation in food products, including processed foods, baked goods, and meat products. Increasing consumption of cookies and breads owing to busy schedule will promote baked goods consumption hence fostering product demand in this region.
Key participants are Cargill Incorporated, Caldic B.V., Impextraco NV, LANXESS, Parchem Fine & Specialty Chemicals, Perstorp Group, Milestone Preservatives Pvt. Ltd., KH Chemicals, Eastman Chemical Company, Merisol USA LLC, among others.
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