Butylated Hydroxytoluene Market Size By Application (Food, Animal Feed [Poultry, Swine, Fish Feed, Cattle], Lubricating & Specialty Oils, Rubber, Personal Care & Cosmetics, Industrial Fats, Oils, & Fatty Acids, Printing Inks & Coatings, Food Packaging), I

Butylated Hydroxytoluene Market Size By Application (Food, Animal Feed [Poultry, Swine, Fish Feed, Cattle], Lubricating & Specialty Oils, Rubber, Personal Care & Cosmetics, Industrial Fats, Oils, & Fatty Acids, Printing Inks & Coatings, Food Packaging), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2022 - 2030

The butylated hydroxytoluene (BHT) market is projected to expand remarkably until 2030 owing to rising product application in varied industries. In addition, escalating consumer inclination towards purchasing automobiles, along with exponential demand for food additives, is also likely to propel market growth over the forecast period.
The COVID-19 pandemic had a positive impact on the market growth as a result of people stocking excessive amounts of processed food amid strict lockdowns and restrictions on movement. Moreover, emerging industrial and automotive sectors, specifically in the Asia Pacific region, have fostered industry growth. For instance, in 2021, the number of passenger cars produced in China reached more than 21.41 million units.
Notably, key participants in the market have been focusing on strategic acquisitions & partnerships and engaging in rigorous research & development activities to enhance their product portfolio and extend their customer base, thereby fueling overall industry expansion. For instance, in September 2021, Eastman Chemical Company, a chemical manufacturing company, acquired the assets and business of Matrix Films, LLC and its UK affiliate PremiumShield Limited as well as its automotive film patterns line. The acquisition aimed to elevate the company’s commitment to becoming a global innovator and service partner for the paint and window protection film business.
The butylated hydroxytoluene (BHT) market has been bifurcated in terms of application and region.
Based on application, the BHT industry has been categorized into animal feed, food, lubricating & specialty oils, personal care & cosmetics, rubber, printing inks & coatings, industrial fats, oils, & fatty acids, food packaging, and others. The industrial fats, oils & fatty acids segment is expected to grow at a CAGR of over 5.5% through the estimated timeline as a result of considerable demand for fats and oils for industrial uses, such as in soaps and personal care products. The increasing disposable income of consumers is foreseen to boost the consumption of these products, thereby augmenting segmental growth.
On the other hand, the butylated hydroxytoluene (BHT) market from the food packaging segment is projected to reach over $10 million in revenue by 2030. Mounting demand for different plastic products, such as polypropylene and polyethylene, for packaging, containers, and bottles, is slated to fuel the demand for BHT in the sector. Meanwhile, the others application segment is poised to record a valuation of around $15 million by the end of the analysis timeframe on account of widespread utilization of BHT as a chemical additive.
In the regional context, the Asia Pacific BHT industry exceeded $85 million in revenue in 2021 and is speculated to progress at around 6.5% CAGR through 2030. The APAC butylated hydroxytoluene (BHT) market from animal feed applications is estimated to witness strong growth driven by rising seafood and meat consumption in China, India, and Japan.