Dublin, May 09, 2019 (GLOBE NEWSWIRE) -- The "Butylated Hydroxytoluene Market by Grade (Food Grade, Technical Grade), End-Use Industry (Plastics & Rubbers, Food & Beverages, Animal Feed, Personal Care), Region (APAC, Europe, North America, South America, MEA) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global BHT market is estimated to be USD 218 million in 2019 and is projected to reach USD 282 million by 2024, at a CAGR of 5.3% during the same period.
The increasing demand for BHT in various end-use industries as an antioxidant to retard deterioration, to maintain color, stability, and flavor is expected to drive the demand for BHT. Growing concerns regarding the use in the food & beverages industry are restraining the demand for BHT.
Sasol Limited (South Africa), Lanxess AG (Germany), Eastman Chemical Company (US), Oxiris Chemicals S.A.(Spain), HELM AG (Germany), Finoric Llc (US), Honshu Chemical Industry Co. Ltd (Japan), Twinkle Chemi Lab Pvt Ltd (India), Yasho Industries Limited (India), Milestone Preservatives Pvt Ltd (India), and Finar Limited (India) are the leading manufacturers of BHT globally.
Technical grade is the faster-growing segment of the BHT market
The market for technical grade is projected to register the higher CAGR during the forecast period. This high growth is mainly attributed to demand for BHT as an antioxidant in plastics, rubbers, coatings, printing inks, lubricants, biodiesel, and elastomers. Industrial growth in APAC especially in the agrochemicals, printing inks, coatings industries is driving the demand for BHT.
Plastics & rubbers is the largest end-use industry segment of the BHT market
Plastics & rubbers are projected to be the largest end-use industry segment of the BHT market. The growing per capita plastics consumption, especially in packaging, automotive, and building & construction, is driving the demand for plastics more than the global GDP growth rate. Hence, many international plastics manufacturers have commenced manufacturing facilities in Asia Pacific and North America. This, in turn, is diving the demand for BHT in the plastics & rubbers end-use industry.
Asia Pacific is projected to be the largest BHT market
The BHT market has been studied for Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific is projected to be the largest butylated hydroxytoluene market. The high demand is mainly attributed to the industrial growth of the region. APAC is a hub for plastics, personal care, animal feed chemical, food & beverages, and pharmaceutical industries. Many foreign investors commenced the manufacturing facilities in the region due to low production costs. This, in turn, is driving the demand for BHT in the region.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in the BHT Market
4.2 BHT Market, By End-Use Industry
4.3 BHT Market, By Grade and Region
4.4 BHT Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in Global Plastics Production
5.2.1.2 High Demand From the Prepared Food Industry
5.2.2 Restraints
5.2.2.1 Growing Concerns Regarding the Use of BHT in the Food & Beverages Industry
5.2.3 Opportunities
5.2.3.1 Industrial Growth in APAC
5.2.4 Challenges
5.2.4.1 Development of Sustainable and Non-Toxic Alternatives to BHT
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
6 BHT Market, By Grade
6.1 Introduction
6.2 Technical Grade
6.2.1 Increasing Plastics Production to Drive the Technical Grade Segment
6.3 Food Grade
6.3.1 Food Grade BHT Driven By High Demand in Chewing Gums
7 BHT Market, By End-Use Industry
7.1 Introduction
7.2 Plastics & Rubbers
7.2.1 Demand for BHT in Polypropylene and Polyethylene Stabilization Will Drive the Market
7.3 Food & Beverages
7.3.1 The Use of BHT is the Food & Beverages Industry is Characterized By Stringent Regulations
7.4 Animal Feed
7.4.1 Demand in Poultry Feed Boosts the Market in Animal Feed Segment
7.5 Personal Care
7.5.1 Makeup Products in the Personal Care Segment is Increasing the Demand for BHT
7.6 Others
8 BHT Market, By Region
8.1 Introduction
8.2 APAC
8.2.1 China
8.2.1.1 Well-Established Polymers Industry in China is Driving the BHT Market
8.2.2 Japan
8.2.2.1 Presence of Key Automotive Manufacturers is Boosting the Market in the Country
8.2.3 India
8.2.3.1 Government Initiatives Such as FDI and Make in India Have A Positive Impact on the BHT Market
8.2.4 Rest of APAC
8.3 North America
8.3.1 US
8.3.1.1 Investments in Plastics Production Driving the BHT Market in Us
8.3.2 Canada
8.3.2.1 High Demand for Technical Grade BHT to Create Lucrative Growth Opportunities for Market Players
8.3.3 Mexico
8.3.3.1 Government Initiatives to Develop Manufacturing Industries Will Provide Favourable Market Conditions for BHT Manufacturers
8.4 Europe
8.4.1 Western Europe
8.4.1.1 Germany
8.4.1.1.1 Established Chemical Industry to Create High Growth Opportunities in the BHT Market
8.4.1.2 Italy
8.4.1.2.1 Technical Grade BHT Driving the Overall Market in the Country
8.4.1.3 France
8.4.1.3.1 Increasing Opportunities for BHT Manufacturers Due to Growing International Investments
8.4.1.4 Spain
8.4.1.4.1 Technical Grade Segment has Dominated the Overall BHT Market in Spain
8.4.1.5 UK
8.4.1.5.1 Animal Feed to Be the Second-Largest End-Use Industry Segment
8.4.1.6 Rest of Western Europe
8.4.2 Central & Eastern Europe
8.4.2.1 Russia
8.4.2.1.1 Presence of Large Chemical Industry to Create Lucrative Growth Opportunities for BHT Manufacturers
8.4.2.2 Turkey
8.4.2.2.1 Industrial Growth of the Country Creating Huge Growth Potential for BHT Manufacturers
8.4.2.3 Rest of Central & Eastern Europe
8.5 Middle East & Africa
8.5.1 Iran
8.5.1.1 Plastics Production Boosting the BHT Market Growth in Iran
8.5.2 Saudi Arabia
8.5.2.1 Government Initiatives to Develop Manufacturing Industries Driving the BHT Market
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.1.1 Well-Established Manufacturing Industry to Create Lucrative Growth Opportunities
8.6.2 Argentina
8.6.2.1 Government Initiatives Attracting Investment in the Country
8.6.3 Rest of South America
9 Competitive Landscape
9.1 Introduction
9.2 Competitive Leadership Mapping
9.2.1 Innovators
9.2.2 Visionary Leaders
9.2.3 Emerging
9.3 Market Ranking
10 Company Profiles
10.1 Sasol Limited
10.2 Lanxess
10.3 Eastman Chemical Company
10.4 HELM AG
10.5 Oxiris Chemicals S.A.
10.6 Finoric LLC
10.7 Finar Limited
10.8 Yasho Industries Limited
10.9 Milestone Preservatives Pvt. Ltd.
10.10 Twinkle Chemi Lab Pvt. Ltd.
10.11 Other Key Players
10.11.1 Double Bond Chemical Ind. Co. Ltd.
10.11.2 Honshu Chemical Industry Co. Ltd.
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