North America Butylated Hydroxytoluene Market Revenue to Surpass USD 110 Million by 2026

North America butylated hydroxytoluene market will experience robust growth during 2020-2026. According to market experts, this industry will be worth more than $110 million by the end of 2026. One of the major reasons for this is the rise in demand for antioxidants in foods, beverages and animal feeds. They help enhance the overall quality and flavor of the products and increase their shelf life as well, leading to greater demand among the regional population. Antioxidants are high in demand even in the cosmetics industry for the various benefits they provide to the skin.
 
The North America butylated hydroxytoluene market share from food packaging segment is projected to show promising growth during the forecast period and will grow at 7% CAGR through 2026. BHT market share in North America from this segment was valued at around $20 million in 2019 alone. BHT is extensively used as a preservative in packaged foods, baked goods, dehydrated foods and meats. This chemical helps in increasing the shelf life of the product by preventing spoilage and maintains its overall freshness as well. The U.S. and Canada are among the leading countries when it comes to demand for packaged foods, further propelling the demand for BHT.
 
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The rubber industry will lead in the use of BHT in its operations during the coming years. This chemical is utilized in this industry as an antioxidant and is used in various rubber types like styrene-butadiene rubber, elastomers, natural butadiene rubber and ethylene propylene diene monomer. This North America butylated hydroxytoluene market is rapidly growing due to the increased demand for rubber belts, industrial rubber products and rubber hoses.

 
Rubber products are used in the automotive sector as well and the demand for them will only rise in the future, thanks to the strong increase in vehicle production in North America. Industries like consumer goods, construction, automotive and electronics are extensively using rubber products for different purposes, leading to increased production of synthetic rubber in the region. According to statistics, the U.S. produced around 530,000 metric tonnes of polybutadiene rubber in 2019 alone. All these factors will favor the growth of North America butylated hydroxytoluene market.
 
As mentioned earlier, BHT is used in animal feeds as well. This is why the poultry segment will showcase strong growth prospects through 2026. This chemical is used as a feed additive to improve the taste and overall stability of the feeds. Feeds have to be stored for a long period of time and this is where BHT becomes a useful antioxidant as it helps in preventing the food from getting spoiled. North America is seeing rising demand for improvement in the overall health and performance of their animals among people engaged in animal husbandry. This factor as well, will work in the favor of BHT suppliers in North America.
 
Lubricating oils contain BHT as well and are used for various industrial purposes. They are used in gas engines, air compressors, automotive, hydraulic oils and wind turbines. The antioxidant properties of these oils help prevent their oxidation. If the lubricant oil is exposed to oxidation, then it reduces its lifespan and leads to high viscosity levels and increase in sludge and varnish deposits. All these factors will propel the demand for North America butylated hydroxytoluene market.
 
 
Some of the renowned companies that are involved in manufacturing and providing BHT in the region are Lanxess, Akrochem Corporation, Sinofi Ingredients, Cayman Chemical, Eastman Chemical Company and several others.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Market definitions

1.2    Market assumptions & forecast parameters

1.3    Appendix

1.4    Data Sources

1.4.1    Primary

1.4.2    Secondary

Chapter 2   Executive Summary

2.1    North America Butylated Hydroxytoluene market summary, 2015 - 2026

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Country trends

Chapter 3   North America Butylated Hydroxytoluene (BHT) Industry Insights

3.1    Industry segmentation

3.2    Industry outlook, 2015 - 2026

3.3    Value Chain

3.4    Regulatory overview

3.5    Market factor analysis

3.5.1    Growth drivers

3.5.2    Growth restraints

3.6    Competition review

3.7    Porter’s analysis

3.8    PESTEL analysis

3.9    Impact of COVID-19 on BHT demand by application

 
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