The North America Butylated Hydroxytoluene Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 11,330.1 Tonnes, showcasing a growth of 4.5% (2019-2022).
Butylated hydroxytoluene (BHT), dibutyl hydroxytoluene, is an antioxidant derived from phenol. BHT is discovered in bacteria such as green algae. It is produced by reacting 4-methyl phenol with 2-methyl propene for industrial purposes. BHT is primarily utilized as a food preservative due to its antioxidant properties. Furthermore, it prevents oxidation in fuel and lubricant additive fluids utilized in industry. This is attributed to its ability to prevent the oxidation of fats, oils, and other substances, thereby developing the shelf life and preserving the quality of products.
It is known for its stability under various conditions, making it a reliable choice for preserving the quality of products. Its cost-effectiveness further contributes to its widespread use in food, plastic, and cosmetics industries, where preventing oxidation and maintaining product integrity are crucial factors. Furthermore, BHT's versatility as an antioxidant, protecting against oxidative damage, makes it valuable in various formulations across different sectors.
According to the Canadian government, the pet population in Canada increased from 27.5 million pets in 2016 to 27.9 million in 2020. In Canada, the retail sales of pet food have witnessed a notable surge, rising from Can$3.4 billion in 2016 to Can$4.2 billion in 2020, with an anticipated further growth to Can$5.3 billion by 2025. Pet owners are increasingly seeking high-quality and nutritionally balanced pet food products. BHT is commonly used in pet food to prevent the oxidation of fats and oils, helping to preserve the nutritional value and overall quality of the food. Additionally, according to the International Trade Administration, Mexico's cosmetics and personal care products industry is estimated to be worth USD 7.24 million in 2022. Mexico imported USD 1.4 billion in cosmetics and personal care products in 2022, of which 35 percent was made in the United States. As a result, these aspects will boost market growth in the coming years.
The US market dominated the North America Butylated Hydroxytoluene Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $61,103.9 Thousands by 2030. The Canada market is experiencing a CAGR of 7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.1% during (2023 - 2030).
Free Valuable Insights: The Butylated Hydroxytoluene Market is Predict to reach $335.5 Million by 2030, at a CAGR of 5.4%
Based on Grade, the market is segmented into Technical Grade, and Food Grade. Based on End-use, the market is segmented into Plastic & Rubber, Food & Beverage, Personal Care, Animal Feed, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Grade (Volume, Tonnes, USD Million, 2019-2030)
By End-use (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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