DUBLIN--(BUSINESS WIRE)--The "Butylated Hydroxytoluene Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global market for butylated hydroxytoluene is expected to grow at a CAGR of over 3% globally during the forecast period.
The major factor driving the market studied is the increasing demand for antioxidants from the polymer industry. On the flip side, stringent regulations due to increasing health concerns and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
The global butylated hydroxytoluene market is partially fragmented with players accounting for a marginal share of the market. Few companies include LANXESS, Merck KGaA, OXIRIS, Dycon Chemicals, and FINAR Limited.
- The butylated hydroxytoluene market is expected to grow during the forecast period owing to the increasing demand from the plastics & rubber industry.
- 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.
Increasing Demand from the Plastics & Rubber Industry
- Butylated hydroxytoluene is widely used in the plastics and rubber industry owing to its antioxidant characteristics and is expected to grow rapidly during the forecast period.
- Earlier, Rubber was coated with antioxidants to protect the rubber from oxidation, once the outer coating is worn off the unprotected rubber will instantly undergo oxidation. To prevent this instead of coating on the rubber surface, chemicals are incorporated into rubber during mixing.
- Antioxidants react with oxygen trapped in the rubber compound during mechanical mixing and later it would bleed to the surface, thereby providing complete protection for rubber from oxidation.
- Similarly, in plastics, oxidation leads to discoloration and general disorientation. This can either be caused by oxidation and free radical generation. Free radicals are generated due to heat, mechanical stress, and radiation. Antioxidants react with free radicals and prevent degradation of plastics.
- The growing demand for plastics and rubber from various industries such as automotive and packaging is expected to drive the market for butylated hydroxytoluene during the forecast period.
Asia-Pacific to Dominate the World Market
- Asia-Pacific region is expected to dominate the market for butylated hydroxytoluene during the forecast period as a result of the increase in consumption from countries like India, and China.
- Some of the largest producers for butylated hydroxytoluene are in the Asia-Pacific region, which includes Honshu Chemical Industry Co., Ltd., Milestone Preservatives Pvt. Ltd., Ratnagiri Chemicals Pvt Ltd., Dycon Chemicals, VDH CHEM TECH PVT. LTD, FINAR LIMITED and many others.
- Butylated hydroxytoluene is used as an antioxidant food additive to prevent atmospheric oxidation of unsaturated organic compounds present in food and oils. It is approved as a food additive by (US FDA) United States Food and Drug Administration and by (EU) European Union.
- In 2019 alone, China produced about 75 million tons of plastic which are about 20% of the total world's plastic production. Plastic is mainly used in the packaging industry for its lightweight and durability. The increasing e-commerce market is expected to drive the demand for plastics which accounts for around 30% of total plastics consumption. The growing plastics industry is expected to drive the market for butylated hydroxytoluene.
- China's e-commerce market is dominated by Alibaba whose market share is around 59%. The company's annual revenue in FY 2019 has seen 51% year-on-year growth and the growing e-commerce industry requires packaging which is expected to drive the market during the forecast period.
- Furthermore, Indian e-commerce industry is expected to reach USD 120 billion by 2020. The increase in penetration of internet and the change in government policies allowing 100% foreign direct investments in the e-commerce sector is expected to boost the consumption of platics.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for butylated hydroxytoluene market in the Asia-Pacific region during the forecast period.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand for Antioxidants from the Polymer Industry
4.1.2 Other Drivers
4.2.1 Stringent Regulations Due to Increasing Health Concerns
4.2.2 Unfavorable Conditions Arising due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1.1 Food Grade
5.1.2 Technical Grade
5.2 End-user Industry
5.2.1 Plastics & Rubber
5.2.2 Food & Beverage
5.2.3 Personal Care & Cosmetics
5.2.4 Animal Feed
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Anmol Chemicals Group
6.4.2 Dycon Chemicals
6.4.3 FINAR Limited
6.4.4 Guangzhou ZIO Chemical Co. Ltd.
6.4.5 Honshu Chemical Industry Co. Ltd.
6.4.7 Merck KGaA
6.4.8 Milestone Preservatives Pvt. Ltd.
6.4.10 Ratnagiri Chemicals Pvt. Ltd.
6.4.11 VDH Chem Tech Pvt. Ltd.
6.4.12 Yufeng International Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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