Sasol Limited, Lanxess AG, Eastman Chemical Company, and Impextraco NV are among the key players in the global butylated hydroxytoluene (BHT) market.
BHT (butylated hydroxytoluene) is an antioxidant. Green algae bacteria produce this compound, which is derived from phenol. Due to its antioxidant characteristics, it is in high demand in a variety of sectors. It keeps fats and oils, medicines, and cosmetics fresh.
The specialty and lubricating oils segment accounts for a large proportion of the industry in terms of application. This is due to increased demand for lubricants in sectors such as paper mills, metal forming, foundries, mining, quarrying, energy, plastics, and machinery. The need for lubricating oils is expected to increase as the automotive sector expands. This will give the market even more impetus to grow. Furthermore, butylated hydroxytoluene's antioxidant qualities make it an excellent component for usage in skincare products. As a result of the increased disposable income and rising living standards, the global butylated hydroxytoluene industry is expected to grow even more.
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The Middle East and Africa and the Asia Pacific are expected to be lucrative growth regions for the industry. The growing living standards and disposable income of a substantial percentage of the population can be attributed to market growth in the Asia Pacific. In the forecast period, the need for newspapers and magazines and the recovery of building and construction projects in areas of Asia Pacific, such as India and China, will fuel market expansion.
The market is divided into food and technical, based on grade. The industry is segmented into food packaging, food additives, lubricating and speciality oils, plastics and rubbers, personal care and cosmetics, printing inks and coatings, animal feed, and others, based on application. North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa are among the product's regional markets.
In 2020, the global butylated hydroxytoluene (BHT) market was valued at over USD 229 million. In the projected period of 2021-2026, the market is estimated to grow at a CAGR of 5%, reaching a value of around USD 307 million by 2026.
BHT (butylated hydroxytoluene) is a very effective antioxidant. Throughout history, this element has fuelled product demand in a variety of application industries. Increased demand for the product in the animal feed industry is also helping to boost the market. During the forecast period, the development of the plastics and rubber industries is expected to benefit the market. The personal care industry's development and the most recent advancements in the field will fuel market expansion. However, the product's undesirable side effects and the strict rules governing its use in the food and beverage industry could limit market growth during the forecast period.
Headquarter: Sandton, South Africa
Sasol is a global chemicals and energy corporation with operations in 30 countries. Sasol employs skilled people to source, manufacture, and market chemical and energy products in a safe and sustainable manner around the world.
Headquarter: Cologne, Germany
With sales of EUR 6.1 billion in 2020, LANXESS is a leading speciality chemicals manufacturer. Currently, the corporation employs 14,200 people in 33 countries. The development, manufacturing, and commercialisation of chemical intermediates, additives, specialty chemicals, and polymers is the core activity of LANXESS.
Headquarter: Kingsport, Tennessee, United States
Eastman is a multinational speciality materials firm that makes a wide range of goods that are used in everyday objects. Eastman collaborates with customers to deliver new products and solutions that improve the quality of life in a material way, all while retaining a commitment to safety and sustainability. Eastman employs around 14,500 people worldwide, serving customers in over 100 countries.
Headquarter: Heist-op-den-Berg, Antwerpen
Impextraco is focused to providing cost-effective solutions that improve animal performance effectively and sustainably. It is owned by a family with four generations of agribusiness experience. The company has offices in Europe, Brazil, Mexico, China, Thailand, and Nigeria, and works in over 90 countries.
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