According to a new report, published by KBV research, The Global Butylated Hydroxytoluene Market size is expected to reach $335.5 million by 2030, rising at a market growth of 5.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 49,849.4 Tonnes experiencing a growth of 5.1% (2019-2022).
The Technical Grade segment led the Global Butylated Hydroxytoluene Market, By Grade in 2022; thereby, achieving a market value of $192.9 million by 2030. This is attributed to its wide usage in food, cosmetics, and industrial applications. In food and cosmetic industries, technical grade BHT is used as a preservative to maintain the quality and freshness of products by inhibiting the oxidative deterioration of fats and oils. Technical grade BHT may have impurities and variations in composition, so it’s important to check with the specific supplier for the product’s detailed specifications.
The Plastic & Rubber segment is growing at a CAGR of 4.8 % during the forecast period. This is attributed to its wide utilization as an antioxidant, inhibiting the oxidation process and helping extend the shelf life of rubber products. The investments aim to ensure a sustainable natural rubber supply for producing tires. Such initiatives will positively impact the butylated hydroxytoluene market in the coming years. Rubber compounds often face challenges during storage and transportation. BHT contributes to the storage stability of rubber materials, preventing premature aging and ensuring that the rubber retains its intended properties until it is used in manufacturing processes.
Full Report: https://www.kbvresearch.com/butylated-hydroxytoluene-market/
The Asia Pacific region dominated the Global Butylated Hydroxytoluene Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $148.8 million by 2030. The North America region is anticipated to grow at a CAGR of 4.7% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 4.8% during (2023 - 2030).
By Grade (Volume, Tonnes, USD Million, 2019-2030)
By End-use (Volume, Tonnes, USD Million, 2019-2030)
By Geography (Volume, Tonnes, USD Million, 2019-2030)
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