Market Size of Butylated Hydroxytoluene Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 250.08 Million |
| Market Size (2029) | USD 328.55 Million |
| CAGR (2024 - 2029) | 5.61 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Butylated Hydroxytoluene Market Analysis
The Butylated Hydroxytoluene Market size is estimated at USD 250.08 million in 2024, and is expected to reach USD 328.55 million by 2029, growing at a CAGR of 5.61% during the forecast period (2024-2029).
The outbreak of coronavirus disease (COVID-19) has acted as a massive restraint on the plastics and rubber products manufacturing market in 2020. The supply chains were disrupted due to trade restrictions, and consumption declined due to lockdowns imposed by governments globally, which eventually led to the closure of various manufacturing units pertaining to rubber, personal care, and food and beverage processing industries. This has led to a decrease in the demand in the butylated hydroxytoluene market globally. However, on the flip side, due to rising health concerns, the sudden increase in demand for PPE kits and personal care and hygiene products such as sanitizers, detergents, etc., in the pandemic scenario has provided opportunities for the growth of the butylated hydroxytoluene market.
- Over the medium term, the major factor driving the butylated hydroxytoluene market is the increasing demand for antioxidants from the polymer industry. Plastic antioxidants are additives that are added during plastic production to eliminate thermal and oxidation degradation, and they help in increasing the shelf-life of products. The usage of plastic antioxidants in polypropylene polymer resin is projected to be the highest during the forecast period as polypropylene usage has increased in packaging applications, which is likely to drive the plastic antioxidant market, stimulating the demand for the market studied.
- On the flip side, stringent regulations due to increasing health concerns are expected to hinder the growth of the market.
- By end-user industry, the plastics and rubber industry is expected to dominate the market studied over the forecast period.
- The Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries such as China, India, and Japan, among others.
