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ReportID: CHE296 |
Category: Other | Sub-Category: Chemical
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With the rise in consumption of antioxidants among various industries, the demand for butylated hydroxytoluene has increased at a significant rate owing to its antioxidant properties for preserving food and feed. Additionally, antioxidants are used in plastics, soaps, animal & vegetable oils, and cosmetic products which increases the applications of butylated hydroxytoluene in cosmetics, pharmaceuticals, and packaging industries. Butylated Hydroxytoluene market is projected to witness healthy grow in emerging countries such as China and India. At present, in emerging countries, a large portion of demand is met by imports. This presents positive outlook for the global players offering butylated hydroxytoluene.
Increase in urban and working population across the globe supplemented with a busy lifestyle is expanding the demand for packed food at a significant pace. This, in turn, is influencing food and beverages companies to use antioxidant in their products. This is increasing the adoption of butylated hydroxytoluene which will expand the global butylated hydroxytoluene market size at a healthy rate. In addition, the expected rise in the production of plastics and rubber is likely to have a positive impact on the global butylated hydroxytoluene market growth. However, increasing concerns about the utilization of butylated hydroxytoluene in the food and beverage industry along with the introduction of non-toxic and sustainable alternatives are projected to hamper the market growth to a certain extent during the forecast period.
The global butylated hydroxytoluene market is segmented based on grade, end user, and region.
By grade, the butylated hydroxytoluene market is analyzed across food grade and technical grade segments. Based on end user, the butylated hydroxytoluene market is segmented into food & beverage, personal care, animal feed, plastics & rubbers, and others. Based on region, the market is analyzed across six major geographies such as Western Europe, North America, Eastern Europe, Latin America, Middle East and Africa, and Asia Pacific. Among regions, the market in Asia Pacific region is anticipated to expand at the highest CAGR during the forecast period owing to rising demand from major countries such as India, Japan, and China that are a hub for the chemicals, plastics, printing inks, agrochemicals, and lubricants industries.
Key companies in the butylated hydroxytoluene market are aimed at enriching their offering with diversified products to meet industry-specific needs. Further, butylated hydroxytoluene manufacturers are focused on improving their customer support services to enhance overall customer experience and gain a competitive edge in the market. Major players analyzed in the butylated hydroxytoluene industry are Eastman Chemical Company, Finar Limited, Finoric LLC, HELM AG, Lanxess, Milestone Preservatives Pvt. Ltd., Oxiris Chemicals S.A., Sasol Limited, Twinkle Chemi Lab Pvt. Ltd., and Yasho Industries Limited among others.
This research report on butylated hydroxytoluene market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.