For the Quarter Ending December 2025
APAC
• In India, the Butylated Hydroxytoluene (BHT) Price Index fell by 0.31% quarter-over-quarter, reflecting cheaper parity.
• The average Butylated Hydroxytoluene (BHT) price for the quarter was approximately USD 2806.73/MT, landed included.
• Import discounts pressured Butylated Hydroxytoluene (BHT) Spot Price, forcing distributors to lower local offer levels.
• Seasonal FMCG restocking supported short-term Butylated Hydroxytoluene Price Forecast, keeping near-term quotations marginally firmer now.
• Rising para-cresol and isobutylene costs influenced Butylated Hydroxytoluene Production Cost Trend, though impacts remained moderate.
• Domestic inventories increased, weighing on the Butylated Hydroxytoluene Demand Outlook and reducing urgency among buyers.
• Export enquiries softened, easing pressure on the Butylated Hydroxytoluene Price Index despite tighter spot availability.
• Operational plants ran routinely, limiting disruption risk and supporting stable Butylated Hydroxytoluene Spot Price continuity.
Why did the price of Butylated Hydroxytoluene change in December 2025 in APAC?
• Higher landed costs from East Asia and GCC increased import parity, nudging domestic prices up.
• Post-festival comfortable inventories reduced buying urgency, letting traders easily absorb offers without significant concessions locally.
• Stable freight rates and neutral currency effects meant demand strength drove modest December price uptick.
North America
• In North America, the Butylated Hydroxytoluene Price Index showed a mixed trend in Q4 2025, with early-quarter softness followed by stabilization and mild firming toward the end of the quarter.
• The average BHT price for the quarter remained largely stable, supported by contract demand from food processing, animal feed, pharmaceuticals, cosmetics, and polymer additive sectors.
• BHT Spot Price softened in October due to cautious buying and comfortable inventories, but improved in December as year-end restocking activity increased.
• The BHT Production Cost Trend remained steady, as feedstocks such as p-cresol and isobutylene showed limited volatility, and energy and logistics costs stayed manageable.
• BHT Demand Outlook remained balanced, with steady consumption from food antioxidants and polymer stabilization applications, while lubricant and rubber additive demand showed seasonal variability.
• The BHT Price Forecast indicates range-bound movement, with upside potential tied to stronger polymer and food sector demand and downside risks capped by stable production economics.
• Adequate domestic supply and uninterrupted operations at major production facilities helped limit price volatility, contributing to the mixed movement in the Price Index.
• Import availability and competitive pricing further restrained sharp price increases during the quarter.
Why did the price of Butylated Hydroxytoluene change in December 2025 in North America?
• The Price Index firmed modestly in December 2025 as food processors, feed manufacturers, and polymer producers increased year-end procurement.
• Improved spot buying supported firmer prices following earlier-quarter softness.
• With the Production Cost Trend remaining stable, the December price increase was driven mainly by demand-side factors rather than feedstock cost inflation.
• Year-end inventory balancing by distributors and manufacturers helped stabilize the market toward the close of the quarter.
Europe
• In Europe, the Butylated Hydroxytoluene Price Index showed a mixed trend in Q4 2025, with early-quarter softness followed by stabilization and mild firming toward the end of the quarter.
• The average BHT price for the quarter remained broadly stable, supported by contractual demand from food processing, animal feed, pharmaceuticals, cosmetics, and polymer additive industries.
• BHT Spot Price softened in October due to cautious buying and comfortable inventories across Western and Central Europe, but recovered modestly in December as year-end restocking increased.
• The BHT Production Cost Trend remained steady, with limited volatility in key feedstocks such as p-cresol and isobutylene, and stable energy and logistics costs.
• BHT Demand Outlook remained balanced, with consistent consumption from food antioxidants and polymer stabilization applications, while lubricants and rubber additive demand showed seasonal moderation.
• The BHT Price Forecast indicates range-bound movement, with upside potential linked to improved polymer and food sector demand and downside risks capped by stable production economics.
• Adequate supply availability and uninterrupted operations at major European production facilities limited price volatility, contributing to the mixed movement in the Price Index.
• Competitive import availability further restrained aggressive price increases, keeping the regional market well supplied throughout the quarter.
Why did the price of Butylated Hydroxytoluene change in December 2025 in Europe?
• The Price Index firmed modestly in December 2025 as food processors, feed manufacturers, and polymer producers undertook year-end restocking.
• Improved spot buying activity supported firmer prices following mid-quarter softness.
• With the Production Cost Trend remaining stable, the December price increase was driven primarily by demand-side factors rather than feedstock cost inflation.
• Year-end inventory balancing by distributors and manufacturers helped stabilize market prices toward the close of the quarter.
For the Quarter Ending September 2025
APAC
• In India, the Butylated Hydroxytoluene Price Index fell by 14.64% quarter-over-quarter, reflecting oversupply and weak industrial demand.
• The average Butylated Hydroxytoluene price for the quarter was approximately USD 2815.34/MT, reported by domestic and import datasets.
• Butylated Hydroxytoluene Spot Price remained under pressure as rubber and polymer sector purchases softened significantly domestically.
• Butylated Hydroxytoluene Price Forecast anticipates modest recovery with seasonal food and cosmetic demand improving fourth quarter.
• Butylated Hydroxytoluene Production Cost Trend showed limited upward pressure as feedstock isobutylene costs remained stable this quarter.
• Butylated Hydroxytoluene Demand Outlook is cautious; industrial offtake subdued while food, pharmaceutical, cosmetic segments provide steady consumption.
• Butylated Hydroxytoluene Price Index readings reflect high inventories, eased freight costs, and competitive import flows suppressing upward price momentum.
• Domestic operational slowdowns and export weakness constrained procurement, while logistical improvements limited additional cost escalation across supply chains.
Why did the price of Butylated Hydroxytoluene change in September 2025 in APAC?
• Oversupply from steady imports and subdued industrial buying increased inventories, weakening domestic pricing power significantly.
• Stable feedstock costs limited producer cost-push, preventing notable upward pressure on BHT landed prices during quarter.
• Improved freight and logistics reduced landed import costs, constraining domestic suppliers from raising offers despite seasonal demand.
Europe
• In Europe, the BHT Price Index showed a mixed trend in Q3 2025, with firming during July-August due to strong demand from food, pharmaceuticals, and personal care sectors, followed by slight softening in September.
• BHT Spot Price strengthened mid-quarter due to limited availability from major regional suppliers and steady downstream demand.
• By September, Spot Price softened slightly as inventories stabilized and some industrial buyers deferred procurement.
• BHT Production Cost Trend remained largely stable, with minor fluctuations in phenol and isobutylene feedstock costs and consistent energy prices.
• BHT Price Forecast indicates continued mixed movement into Q4 2025, with ongoing demand from food and pharmaceutical sectors supporting prices, while moderate stock levels and softening industrial orders may temper growth.
• BHT Demand Outlook remains positive, driven by applications in food preservatives, cosmetics, personal care formulations, and some pharmaceuticals.
• Adequate regional production capacity and imports from Asia helped maintain supply-demand balance, limiting volatility in the Price Index.
Why did the price of BHT change in September 2025 in Europe?
• In September 2025, the BHT Price Index decreased slightly, following stabilization of inventory levels and slight softening in industrial orders.
• The Production Cost Trend remained steady, so the softening was primarily demand-driven rather than cost-related.
North America
• In North America, the BHT Price Index displayed a mixed trend in Q3 2025, firming during July and August due to robust demand from food, pharmaceuticals, and personal care industries, followed by modest softening in September.
• BHT Spot Price firmed mid-quarter as producers managed moderate supply constraints amid steady downstream demand.
• By September, Spot Price eased slightly due to normalization of inventories and seasonal moderation in industrial orders.
• BHT Production Cost Trend remained stable, with minor fluctuations in raw material prices and energy costs.
• BHT Price Forecast suggests continued mixed movement into Q4 2025, with sustained demand from food and pharmaceutical sectors supporting prices, while industrial moderation could restrain increases.
• BHT Demand Outlook remains healthy, driven by applications in food antioxidants, cosmetics, personal care, and pharmaceuticals.
• Stable regional production capacity and controlled imports helped maintain supply-demand equilibrium, preventing sharp swings in the Price Index.
Why did the price of BHT change in September 2025 in North America?
• In September 2025, the BHT Price Index decreased modestly, mainly due to slight moderation in industrial procurement and stabilization of inventory levels.
• The Production Cost Trend remained steady, so price changes were largely driven by temporary demand fluctuations rather than raw material costs.
For the Quarter Ending June 2025
North America
• The North America Price Index for Butylated Hydroxytoluene (BHT) remained stable in Q2 2025, with minimal volatility in feedstocks and end-use markets.
• BHT Spot Price stayed dipped due to balanced demand in food preservation and lubricant markets.
• The trend in BHT Production Cost stayed firm as prices of p-cresol and isobutylene, the raw materials of primary importance, moved within a tight range.
• Food and pharma industries' demand kept the market going, and polymer and rubber industries observed moderate buying patterns.
• Unblocking of port congestions in the Gulf and East Coast accelerated import schedules, further supporting the steadiness in BHT supply chains.
• US manufacturers indicated improved Q3 contract renewals in the personal care business, indicating firm BHT Demand Outlook.
• FDA regulatory clarity regarding allowable levels of antioxidants promoted greater compliance buying of pharma-grade BHT.
• The BHT Price Forecast for August-September suggests a steady trend with a slight upside risk if rubber demand rebounds.
Asia-Pacific
• The Price Index for Butylated Hydroxytoluene (BHT) in India declined by around 2.2% in Q2 2025, following soft demand in the rubber and polymer industries.
• The BHT Spot Price slipped to approximately USD 2,870/tonne due to reduced consumption from tire and automotive component manufacturers.
• The BHT Production Cost Trend remained neutral as feedstock prices for p-cresol and isobutylene stabilized after earlier fluctuations.
• Despite stable demand from food, cosmetics, and pharmaceutical sectors, it was insufficient to offset declines in industrial demand.
• A slowdown in rubber processing and automotive manufacturing led to lower procurement from compounding units.
• Port logistics remained efficient even during monsoon season, with import volumes from China and the U.S. arriving on schedule.
• Rising inventory levels in industrial zones indicated cautious downstream buying and prompted discounts on bulk purchases.
• The BHT Price Forecast points to a neutral outlook in August, with possible demand recovery expected by late Q3 as industrial consumption picks up.
Europe
• The Price Index for Butylated Hydroxytoluene (BHT) in Europe fell by 1.8% in Q2 2025, reflecting weak demand from the plastics and automotive sectors.
• BHT Spot Price averaged around USD 3,020/tonne, showing a mild softening across Germany, France, and Italy.
• The BHT Production Cost Trend eased slightly as lower feedstock input costs (especially isobutylene) filtered through local blending operations.
• Regulatory compliance costs in food-grade antioxidants remained stable under EFSA guidelines, limiting sudden price swings.
• Industrial demand for BHT in rubber and polymer applications declined due to weak export orders and seasonal factory closures.
• Cosmetic and personal care demand was stable, particularly in Spain and Scandinavia, providing some floor to BHT pricing.
• Import activity from Asia remained steady, and domestic blenders in Germany increased output to offset any logistical delays.
• The BHT Demand Outlook remains subdued for Q3, with possible restocking activity in the pharma sector expected post-summer.
• The BHT Price Forecast suggests continued soft pricing unless Q4 demand from industrial sectors surprises to the upside.
For the Quarter Ending March 2025
North America
In Q1 2025, the Butylated Hydroxytoluene (BHT) market in North America exhibited a bullish price trend, supported by stable demand from key end-use sectors such as food processing, cosmetics, and pharmaceuticals.
In January, prices remained relatively stable as moderate demand was balanced by sufficient domestic production and steady raw material costs. However, by February, supply chain concerns driven by anticipated regulatory shifts and geopolitical uncertainties spurred a slight uptick in forward purchasing. Additionally, volatility in upstream toluene and isobutylene prices—linked to fluctuations in crude oil—exerted mild cost pressures.
In March, prices saw a marginal increase as downstream demand from the food and personal care sectors surged ahead of seasonal product launches. The cosmetics sector, in particular, contributed to higher consumption due to increased formulation activity. While domestic BHT production remained consistent, logistical delays and rising freight costs posed occasional challenges. Overall, the North American BHT market ended the quarter on a firmer note, with prices trending upward amid strong sectoral demand and moderate supply conditions.
APAC
In Q1 2025, the butylated hydroxytoluene (BHT) market in the APAC region, particularly in India, experienced increased price trend driven by fluctuating feedstock costs, varying sectoral demand, and shifting trade dynamics. At the start of the quarter, BHT prices declined due to subdued demand from major end-use industries such as animal feed, food processing, and cosmetics, alongside reduced production focus by domestic manufacturers. However, February marked a turning point, with BHT prices rebounding driven by rising downstream inquiries and forward buying in anticipation of potential tariffs. Despite falling upstream crude oil prices, market sentiment strengthened as buyers sought to secure supply ahead of expected disruptions. March saw a further 1.6% increase in prices, supported by strong demand from the food and personal care sectors and continued concerns over supply constraints. Although domestic production remained moderate, surplus imports helped balance supply. Additionally, reduced shipping costs, evidenced by a drop in the Intra-Asia Container Index, slightly offset supply tightness. Overall, BHT prices in India saw a gradual upward trend, reflecting resilient demand amid moderate supply and trade uncertainties.
Europe
During Q1 2025, the European BHT market experienced moderate price fluctuations, shaped by raw material cost movements, geopolitical instability, and uneven demand across industries. In January, prices softened slightly due to sluggish demand from the plastics and animal feed sectors and lower feedstock costs following a brief decline in crude oil prices. However, by mid-February, rising toluene prices and increasing inquiries from the cosmetics and food processing industries contributed to firmer pricing. Anticipation of possible tariff adjustments and regulatory shifts within the EU prompted forward buying, pushing prices upward. By March, demand from the personal care and packaged food sectors gained momentum, supporting price stability despite ongoing economic headwinds. The cosmetics industry showed notable resilience, especially as manufacturers prepared for seasonal product rollouts. On the supply side, European BHT production remained stable, though tight availability of certain raw materials, coupled with rising logistics costs, presented challenges. The Intra-European trade routes also faced occasional disruptions due to transport delays. Overall, the quarter ended with a moderate increase in BHT prices in Europe, driven by robust demand from essential sectors and cautious supply chain management.
