Europe Butylated Hydroxytoluene Market size exceeded USD 65 million in 2019 and is predicted to record a CAGR of around 5.5% from 2020 to 2026.
Butylated hydroxytoluene is an organic compound which is derived from phenol and mainly utilized owing to its antioxidant properties. Butylated hydroxytoluene is produced by reaction of 4-methylphenol and 2-methylpropene and this reaction is catalyzed by sulfuric acid. It is primarily used for preventing oxidation in fluids which is triggered by free radicals and is applicable in wide range of applications such as animal feeds, lubricating oils, rubber and plastic manufacturing, industrial oils, and coatings.
BHT is also utilize as fuel additives for jet fuels, gear oils, and hydraulic fluids. Rising use of antioxidants in personal care and cosmetic products owing to their oxidation effects and benefits on skin should create new opportunities for the market in personal care and cosmetic industry.
Depending upon applications, the personal care and cosmetics segment held over 10% market share in 2019. Butylated hydroxytoluene (BHT) is utilized as antioxidant in cosmetic products for preventing spoilage from oxidation. Antioxidants are of key importance in personal care products as these neutralise free radicals produced by air, sunlight, and other surrounding factors. The personal care and cosmetic industry are triggered by rising consumer spending and evolving consumer lifestyle in Europe.
Growing focus on appearance has also stimulated the demand for personal care and cosmetic products, which may boost the consumption of antioxidant in cosmetic applications. This rise in the demand for antioxidants should proliferate the market growth in cosmetics industry.
Butylated hydroxytoluene (BHT) is utilized in animal feed owing to its antioxidant characteristics, which help in reducing oxidative stress. Growing consumption of dairy products in Europe has been driving the cattle industry in Europe and this trend is expected to create new avenues for the cattle feed industry in Europe. However, decreasing livestock population of bovine animals in Europe is expected to affect the feed industry.
The bovine meat production in 2019 has decreased by nearly 1.5% as compared to bovine meat production in 2018. The bovine meat production in 2019 was around 6.9 million tons. This decrease in the livestock population and meat production should affect the demand for antioxidants in cattle feed applications.
France butylated hydroxytoluene market accounted more than USD 12.3 million revenue in 2019 and is anticipated to register a growth rate of 6% between 2020 and 2026. The demand for personal care products in France is stimulated by rising consumer spending on lifestyle and wellness. Such trend may drive the demand for antioxidants in personal care industry in France. This rise is expected to boost the utilization of butylated hydroxytoluene as antioxidants in such applications.
European butylated hydroxytoluene (BHT) industry share is significantly competitive with major players including SI Group Inc., Lanxess, Eastman Chemical Company, Akrochem Corporation, Oxiris, Sinofi Ingredients, Kemin Industries, Sasol, Cayman Chemical, and Spectrum Chemical Manufacturing Corp.