Top News: Antioxidant BHT Market Size & Share to Surpass $50.3 Million by 2028 | Vantage Market Research
WASHINGTON, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The Global Antioxidant BHT Market is valued at $34.9 Million in 2021 and is projected to reach a value of $50.3 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 5.8% over the forecast period 2022-2028.
One of the most significant economic areas is the antioxidant BHT business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for antioxidant BHT, including rising investment requirements, developing technology, and new laws.
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Antioxidant BHT Market Overview
According to Vantage Market Research, some key factors anticipated accelerating the antioxidant BHT market growth over the forecast period. This growth over the forecast period is being driven by rising demand for the food and industrial additive applications. Antioxidants are increasingly being used in various industries, including the oil & gas sector, which is expected to fuel market expansion over the forecast period.
We forecast that the oil & gascategory in antioxidant BHT market sales will account for more than 30% of total sales by 2028.The oil and gas industry uses the antioxidant BHT to prevent the oxidation of petroleum. Various products are manufactured using industrial lubricants and greases, such as oil-soluble metalworking fluids (MWF).
Asia Pacific dominates the antioxidant BHT market, and this trend of dominance will continue throughout the projection period. Due to the region's rapid industrialization and rise in protein consumption, high levels of meat consumption have also contributed to the rapid expansion of the global market for the antioxidant BHT.
Top Players in the Global Antioxidant BHT Market
Merisol USA LLC (US)
Perstorp Group (Sweden)
Eastman Chemical Company (US)
Milestone Preservatives Private Limited (India)
Antioxidant BHT Market Dynamics
Advancement of the Rubber and Plastics Sectors:
Antioxidants BHT have stabilizing properties, which are used in elastomers, rubbers, and polymeric fabrics. The development of the plastics and rubber industries is therefore anticipated to positively affect the market's growth for the antioxidant BHT in the years to come.
Rigorous Efforts to Increase Dependability of Antioxidant BHT Products Through R&D:
Industry trends will also pick up speed as research organizations increase their efforts to support technical development in the antioxidant BHT sector. The firms' primary areas of attention are meticulous research and development projects to enhance antioxidant BHT goods' dependability. Additionally, the overall market environment will profit from their efforts to strengthen their business position through strategic acquisitions, partnerships, collaborations, and product range expansion.
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Top Trends in Global Antioxidant BHT Market
One trend that Vantage Market Research (VMR) expects to see in the antioxidant BHT industryis increased use in the cosmetics industry. Antioxidants are primarily used to increase an animal's resistance to disease and to safeguard the skin's cell membranes. Since antioxidants have a wide range of uses in the cosmetics industry, it is expected that the growth of this industry will directly affect the market for antioxidants BHT.
Another trend that VMR predicts will continue in the antioxidant BHT industry is the increased use of natural ingredients. Antioxidant BHT products with natural ingredients are becoming more and more popular with consumers. The need for products that are more sustainable and friendly to the environment is what is driving this trend.
Top Report Findings
Based on type, most of the antioxidant BHT market's revenue is controlled by the food additives category.The demand for processed and packaged foods is on the rise, and there is a need to extend these products' shelf lives.
Based on application, the pharmaceutical category dominates the antioxidant BHT market, and it is anticipated that this trend will continue because lubricants and fuels are using more antioxidants.
Top 10 Players Generates More Than 45% of the Global Antioxidant BHT Market Revenue
The report also found that the largest players in the antioxidant BHT market are technology providers such as Koninklijke DSM NV (Netherlands), Charles Bowman & Company (US), T.J Clark & Company (US), Shandong Runde Biotechnology Co. (China), and Howtian (US). These companies are expected to benefit from increased demand for their products and services, as well as growing investments in new products. Other major players include Koninklijke DSM NV (Netherlands), Charles Bowman & Company (US), T.J Clark & Company (US), Shandong Runde Biotechnology Co. (China), Howtian (US), Biological E Ltd. (India), Ronas Chemicals (China), Holland & Barrett (UK), Phoenix Herb (US) and Asiamerica Group Inc. (US).As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Food Additives Category in Antioxidant BHT Market to Generate Over 30% Revenue
Antioxidant BHT is an expensive investment. Vantage Market Research has analyzed the market for antioxidant BHT to understand its current state and potential future growth factors. For better understanding, based on type antioxidant BHT market is divided into: food additives, fuel additives and industrial additives.
During the forecast period, the market for antioxidant BHT is anticipated to experience the highest CAGR for the food additives category. To keep the product in the best condition throughout storage and distribution, the main purpose is to ensure that it is safe for eating by people or animals.
On the other hand, the fuel additives category is anticipated to grow significantly over the forecast period. Chemical compounds known as fuel additives can be added to fuel to improve the engine's operation or performance and other machinery used.
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on Antioxidant BHT Market Forecast Report (2022-2028).
Global Antioxidant BHT Market Segmentation
Oil & Gas
Food & Beverages
Middle East & Africa
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