Butylated hydroxytoluene and butylated hydrxyanisole are the two organic compounds that are used as derivatives. Both the compunds belong to family of phenol. Butylated hydroxyanisole is a mixture of two isomeric organic compounds. It is an antioxidant which is used as preservative in food, animal feed, rubber, food packaging, cosmetics, and petroleum products. It is also used in medicines such as simvastatin, isotretinoin, and Iovastatin, among others. Butylated hydroxytoluene is a chemical derivative of phenol and a lipophilic organic compound that is useful for its antioxidant properties. It is used to prevent oxidation in fluids such as oil and other materials where free radicals must be controlled. It provides stability to the lubricant and helps in efficient functioning of the machines.
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Antioxidental properties of butylated derivatives have several benefits. The expansion of cosmetic industry is expected to boost the antioxidant market thereby driving the butylayed derivative market during the forecast period. Also, rising demand for antioxidants in animal feed is improving disease resistance in animals as also protecting their cell membranes thereby further facilitating further growth of butylated derivatives market. Moreover, government regulations that allow small proportion of the butylated derivatives is anticipated to be another major factor driving the growth of this market.
Butylated derivative market can be segmented on the basis of product type, end-use industry, and region. On the basis of product type, the butylated derivative market can be segmented into butylated hydroxyanisole and butylated hydroxytoluen. On the basis of end-use industry, the butylated derivative market can be segmented into cosmetics, rubber/plastic industry, food Industry, fuel industry, and others. Amongst all, food industry is expected to hold a significant share throughout the forecast period. On the basis of region, the market can be segmented into North America, Asia Pacific, Europe, South America, Middle East & Africa. Amongst all, North America and Europe is expected to be the most lucrative butylated derivative market owing to favorable government initiatives and increasing demand in rubber/plastic industry in the region. In North America, U.S. is majorly driving the growth whereas in Europe, U.K. followed by Germany and France are driving the growth.
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The key players operating in butylated derivative market are Langfang Fuhai Additive Co Ltd., Yantai Tongshi Chemical Co Ltd., Eastman Chemical Ltd., RCPL, Lanxess Inc., Anhui Haihua Chemical Technology Co Ltd., SASOL Ltd., Zaozhuang Hailong Chemical Ltd, Jiangsu Maida New Material Co Ltd., Crown Holdings Inc, B Kraft-Heinz Co., ASF Corp., and Dupont Inc. among others.