What is the future of Butylated Hydroxytoluene Market? Know Covid Impact on Size, Share & Forecasts
The unexpected shifts in the global markets because of the sudden
outbreak of the COVID-19 virus have brought many major and minor tremors to
industries of all sizes including the Butylated
Hydroxytoluene Market.
It was estimated prior to this unanticipated outbreak that the Butylated
Hydroxytoluene Market was expected to grow at a CAGR of 5.1% during the
forecast period. However, the gradual slowing down of industries will
undoubtedly impose limits on the previously estimated growth rate.
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Hydroxytoluene Market, request a free sample of the report here:
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Butylated hydroxytoluene is a lipophilic
organic compound, also known as dibutyl hydroxytoluene. It is chemically a
derivative of phenol, that is useful for its antioxidant properties. In
addition to this usage, BHT is widely used to prevent oxidation in fluids (e.g.
fuel, oil) and other materials where free radicals must be controlled.
This report studies the market covering a
period of 12 years of trend and forecast. The report provides detailed insights
into the market dynamics to enable informed business decision making and growth
strategy formulation based on the opportunities present in the market.
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Based on the grade type, the market is segmented as food grade and
technical grade. Technical grade is estimated to be the faster-growing
segment during the next five years. The demand for butylated
hydroxytoluene as an antioxidant in rubbers, plastics, coatings, lubricants,
printing inks, elastomers, and biodiesel is driving the market.
Based on the end-use industry type, the butylated hydroxytoluene market
is segmented as plastics & rubbers, food & beverages, animal feed,
personal care, and others. The plastics & rubbers segment leads the
market owing to growing per capita and plastics consumption,
especially in automotive, packaging, and building & construction
industries, which is driving the demand for plastics, ultimately leading to
growing demand for butylated hydroxytoluene.
In terms of regions, Asia-Pacific is estimated to be the largest
as well as fastest-growing butylated hydroxytoluene market during the
forecast period, with China and India, being the major countries promising
considerable growth opportunities. It is a hub for plastics, animal feed
chemical, personal care, pharmaceutical, food & beverages industries and
the industrial growth in the region further endorses substantial growth
opportunities in the next coming five years. North America and Europe are also
estimated to offer lucrative growth opportunities during the forecast period.
Key Players:
Some of the major butylated hydroxytoluene manufacturers are-
- Eastman Chemical Company
- Finar Limited
- Finoric LLC
- HELM AG
- Lanxess AG
- Milestone Preservatives Pvt. Ltd.
- Oxiris Chemicals S.A.
- Sasol Limited
- Twinkle Chemi Lab Pvt. Ltd.
- Yasho Industries Limited.