North America Butylated Hydroxytoluene Market size surpassed USD 70 million in 2019 and is set to observe around 6.5% growth rate between 2020 and 2026.
Butylated hydroxytoluene is produced by reacting 4-methylphenol and 2-methylpropene and it exhibits antioxidant properties. Butylated hydroxytoluene is utilized for avoiding oxidation by free radicals in an array of applications such as lubricating and industrial oils, manufacturing, coatings, paints, and feeds. It can be used as fuel additives in aircraft fuels and hydraulic fluids.
The rising demand for antioxidant in industrial as well as commercial applications for preventing the damage caused by free radicals is likely to accelerate the North America butylated hydroxytoluene (BHT) market growth. Further, increasing use of chemicals exhibiting antioxidant characteristics in personal care and cosmetic products owing to growing demand for products with oxidizing effects for skin benefits should create new avenues for the market in North America.
The segment was worth nearly USD 10 million in 2019. Butylated hydroxytoluene is utilized in lubricating and specialty oils for delaying oxidation by preventing the growth of free radicals. Use of antioxidants in lubricating oil of high importance as oxidation of lubricating oils may lead to increase in oil viscosity and deposition of sludge and varnish. Oxidation of lubricating oils also reduces service life of a lubricant which is also altered by temperature, catalysts, and acids.
Lubricating oils are used in a wide range of industrial applications such as automotive, air compressors, gas engines, gears, hydraulic oils, turbines, and wind turbines. Rising use of lubricating oils for decreasing coefficient of friction for facilitating smooth part functioning and increasing efficiency has accelerated the demand for oil additives for preventing damage by free radicals. This trend is anticipated to trigger demand for BHT in North America.
Butylated hydroxytoluene is used in animal feeds as an antioxidant for limiting oxidation of food products and as preservative. Utilization of antioxidants in cattle feeds is rising as animal producers are using feeds and feed additives to boost animal performance and provide essential nutrients such as vitamins and proteins. Antioxidants are also utilized for enhancing product shelf life and durability of cattle feed.
Rising use of feed additives for increasing product shelf life and durability should propel the demand for butylated hydroxytoluene in cattle feed applications. Also, rising cattle livestock for production for dairy and meat products has also accelerated the consumption of cattle feed in North America. Meat consumption in North America has soared in recent years owing to changing consumer eating preferences and increase in the number of restaurants and fast feed outlets. This rise in the meat consumption has bolstered the demand for cattle feed in North America, which is likely to stimulate the demand for butylated hydroxytoluene (BHT) in cattle feed applications.
North America butylated hydroxytoluene (BHT) market share is significantly competitive with major players including Lanxess, SI Group Inc., Akrochem Corporation, Cayman Chemical, Sinofi Ingredients, Eastman Chemical Company, Baxter, Kemin Industries, Sasol Limited, and Spectrum Chemical Manufacturing Corp.