Butylated Hydroxytoluene Market worth $282 million by 2024 | Key players Sasol Ltd, Lanxess AG, Oxiris Chemicals S.A., HELM AG, Finoric Llc

According to recent market research "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", The global butylated hydroxytoluene (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.

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In terms of value, the technical grade segment is projected to account for the larger share during the forecast period. The growth of this segment is mainly attributed to the high demand for technical grade BHT as an antioxidant in the plastics, rubbers, elastomers, biodiesel, agrochemicals, lubricants, and fuel additives industries.

This growth is mainly attributed to the increasing demand for BHT for plastics stabilization especially polyethylene and polypropylene. Capacity expansions in North America owing to shale gas revolution attracted many plastics producers to set up production facilities in the region. Such attributes are expected to create high demand for BHT.

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The global butylated hydroxytoluene (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. Growing demand in various end-use industries such as plastics, animal care, food & beverages, personal care, agrochemicals, lubricants, fuel additives, and biodiesel is driving the BHT market.

The increasing per capita expenditure on food & beverages, improved wealth along with lifestyles, and a gradual increase in the number of working women have driven the demand for prepared food products. Growing concerns regarding the use in the food & beverages industry are restraining the demand for BHT. Emerging economies such as China and India are experiencing high demand. Increasing per capita expenditure on healthcare and food products, huge consumer base, rising urban population, low labor costs, and easy availability of raw materials are attracting global petrochemicals, personal care, and food & beverage manufacturers to shift their production facilities to APAC, thus creating high demand for BHT.

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Sasol Limited (South Africa) has unique product offerings mainly technical grade BHT and is focused on offering diverse products for polymers, personal care, food & beverage, and animal feed applications. The company has a strong presence in North America and the Middle East & Africa.

Lanxess AG (Germany) has maintained a leading position in the BHT market by establishing a strong customer base and technical expertise. The company is also focusing on optimizing cost structures of its established businesses. This strategy enabled the company to reduce its operating costs and improve profit margins.

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