is predicted to expand quickly between 2022 and 2030, with a CAGR of around 5.7%. This is true despite the global lockdown's restrictions and the early drops in product sales brought on by the epidemic.
A recent study by Market Research Community predicted that by 2030, the market for butylated hydroxytoluene would increase from USD 230.2 million to USD 379.1 million.
Phenol is a naturally occurring lipophilic compound found in green algae that can be changed into butylated hydroxytoluene. In order to stop oxidation caused by free radicals, butylated hydroxytoluene is employed in a variety of industrial, lubricating, and industrial oils, paints, foods, coatings, and animal feeds. In the hydraulic fluids used in autos, the chemical also serves as a fuel additive.
Along with the leading key players Sigma-Aldrich Co. LLC, FINAR CHEMICALS, Dycon Chemicals, Merck & Co., OXIRIS, LANXESS, AppliChem GmbH, Eastman, Sisco Research Laboratories Pvt. Ltd., and S. C. Johnson & Son, Inc., the report includes a regional examination and country analysis with the most recent trends.
The preservation of lipsticks and moisturisers with the antioxidant and stabilising properties of butylated hydroxytoluene, combined with the decreased risks of cosmetic deterioration brought on by free radicals, are expected to further support the growth of the personal care & cosmetics segment during the forecast period.
Europe is expected to witness a significant CAGR growth of over 6.5% during the forecast period. The variables such as the rising research and development expenditures by major market players for bio-based and renewable materials coupled with the expand demand for BHT in developing industries such as bread, pet food, and dairy industries are anticipated to boost the BHT utilization as antioxidants and further accelerate the growth of butylated hydroxytoluene market in the European region.
The study is consolidated into major segments and further into sub-segments, such as by Application (food, personal care & cosmetics, animal feed, industrial fats, oils & fatty acids, lubricating & specialty oils, food packaging, rubber, printing inks and coatings, and others), by end-use (plastic & rubber, consumer products, oil & gas, food & beverages, and automotive) to