Antioxidant BHT Market will grow at a CAGR of 5.10%,globally during 2016 and 2021
Zion Research has published a new report titled “Antioxidant BHT Market for Animal Feed, Food and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”.According to the report, the global antioxidant BHT market was valued at USD 197.86 million in 2015 and is expected to reach approximately USD 265.91 million by 2021, growing at a CAGR of around 5.10% between 2016 and 2021.
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Antioxidants are generally termed as shelf-life extenders. BHT preserves aroma,taste, vitamins and color by preventing the oxidation of food fats & oils and its resulting rancidity. BHT is an excellent antioxidant used in blends with other food approved antioxidants including BHA, phosphoric acid, citric acid, and propyl gallate. Moreover, BHT is used predominantly in the production of plastics and is also an important ingredient in rubber, elastomer and styrene production. It is also used in lubricating oils, gasoline, specialty oils and synthetic lubricants, as well as in food, feed and forage products.
The demand-driving factors of the antioxidants BHT market are the globally increasing prices of feed, and the increasing use of antioxidants in improving the animals’ disease resistance. Moreover, expansion of food and pharmaceutical industries is expected to augment antioxidant BHT market growth over the projected period. Long-term exposure to high doses of BHT is toxic and it may cause liver, kidneyand thyroid problems and also affecting lung function and blood coagulation. However, harmful effect of BHT may hamper the market growth within the forecast period. Nevertheless, ongoing research to enhance BHT antioxidant properties is expected to open up new growth opportunities over the next few years.
Based on application, the antioxidant BHT market can be segmented into animal feed, food and others (cosmetics, pharmaceuticals, rubber, electrical transformer oil, fuel additive, etc.). Fooddominated the market with over 48% share of the total market in 2015. Antioxidant BHT helps in reducing the rate of oxidation of feed, thus preventing wastage of feed.This helps the farmerto bring down feed costs. Thus, food segment is expected to exhibit significant growth in the years to come.Animal feed is another leading segment of antioxidant BHT market and is expected to show strong growth in the near future. Other applications like cosmetics, rubber etc also expected to witness significant growth over the forecast period.
Asia Pacific was the leading regional market for antioxidants BHT in 2015. Asia Pacific accounted for over 55%share of total revenue generated in 2015.This growth is mainly due tothe presence of robust manufacturing bases for foods, and feed.In addition, China was the largest consumer of antioxidant BHT in 2015. Furthermore, North America was the second largest regional market and is expected to witness significant growth in the years to come. This growth is attributed to the high demand for protein and meat consumption. Latin America and Middle East & Africa are also expected to exhibit significant growth within the forecast period.
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Some of the key players involve in antioxidant BHT market such as Caldic, Cargill, LANXESS, Impextraco, Perstorp Group, Merisol USA LLC, Milestone Preservatives Private Limited, Eastman Chemical Company,Oxiris Chemicals S.A., Nova International, Feiya Chemical Industry Co., Ltd., JiYi Chemical (Beijing) Co. Ltd and NanJing LongYan Chemical Co. Ltd. Furthermore, leading antioxidant BHT manufacturers focus on capacity expansion, merger & acquisition coupled with advanced products launch across the globe to increase their production capacities. For instance,Oxiris Chemicals S.A. launched a new grade of high purity BHT to complement the existing portfolio in April 2016.
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