April 16, 2024

Butylated Hydroxytoluene Market Poised for Significant Growth Due to Growing Demand in Food and Feed Applications

Butylated Hydroxytoluene (BHT) is an organic compound that is primarily used as an antioxidant in food, food packaging, animal feed, rubber, petroleum products and personal care products. It helps prevent oxidation and rancidity in food products. BHT protects fats and oils from becoming rancid when exposed to oxygen, heat, and light.

The Global Butylated Hydroxytoluene Market size is estimated to be valued at US$ 236.8 million in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period from 2024 to 2031.

Key Takeaways:
Key players operating in the Butylated Hydroxytoluene are Oxiris Chemicals S.A., Camlin Fine Science, Finoric LLC, Dycon Chemicals, Honshu Chemical Industry Co., Ltd., Sasol Limited, Lanxess, Eastman Chemical Company.

The growing demand for BHT from food packaging, cosmetics and personal care industries presents significant growth opportunities for market players. The anti-oxidant and preservative properties make BHT suitable for use in various end-use applications.

Asia Pacific holds the largest share in global BHT market and is projected to witness robust growth over the forecast period. Increasing population, rising disposable income and growing demand for packaged and processed foods drives the market growth in Asia Pacific region.

Market drivers:
The increasing demand from food and feed applications is one of the major drivers for the Butylated Hydroxytoluene Market Size . BHT helps extend the shelf-life of food products by preventing oxidation of fats and oils and protects their nutritional value. The growing demand for packaged and processed food worldwide accompanied with rising concerns regarding food spoilage is expected to drive the need for food antioxidants like BHT.

Current Challenges in Butylated Hydroxytoluene Market
The butylated hydroxytoluene market is facing several challenges owing to changing regulations regarding the usage of chemicals globally. Growing awareness about the adverse health impacts of synthetic antioxidants is restricting the growth potential of BHT. Manufacturers are focusing on developing safer substitutes to cater to consumer demand. Supply chain disruptions occurred due to the recent COVID-19 pandemic have negatively impacted the availability of raw materials, putting upward pressure on prices.

SWOT Analysis
Strength: BHT is a very effective and inexpensive antioxidant widely used for preserving edible fats and oils. It has a long shelf life and is effective in small amounts.
Weakness: Research has found that BHT may cause carcinogenic effects if consumed in large quantities over a long period. It can also trigger allergic reactions in sensitive individuals.
Opportunity: Growing demand for natural preservatives from health-conscious consumers presents an opportunity for manufacturers to introduce alternative plant-based antioxidants. Increasing Applications of BHT in other end-use industries like plastics and rubber could drive future growth.
Threats: Stringent regulations restricting the use of BHT in food products in several countries poses a major threat. Intense competition from substitute chemicals further intensifies the threat from substitutes.

Geographical Regions with High Market Concentration
The Asia Pacific region dominates the global butylated hydroxytoluene market in terms of value, accounting for over 35% of the total share. This is mainly attributed to strong demand from the food industry in India and China where BHT finds wide usage as a food preservative. North America is another major regional market driven by food applications in the US.

Fastest Growing Regional Market
The butylated hydroxytoluene market in South America is expected to grow at the fastest pace during the forecast period. This can be accredited to rising disposable incomes, rapid urbanization and growing health awareness among consumers which is propelling the demand for BHT in various end-use industries across countries like Brazil and Argentina.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it