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.
For the Quarter Ending December 2024
North America
In Q4 2024, the market for Butylated Hydroxytoluene (BHT) in North America showed a positive trend, largely driven by increasing demand across various sectors such as plasticizers, pharmaceuticals, cosmetics, and animal feed. BHT, known for its antioxidative properties, continued to be an essential ingredient in food preservation, ensuring extended shelf life for a wide range of products.
Throughout the quarter, demand remained strong, especially from the animal feed industry, where BHT played a critical role in prolonging the shelf life of feed products. However, fluctuations in toluene prices, influenced by global crude oil price movements, impacted the production costs of BHT. Supply chain disruptions, stemming from port congestion and geopolitical tensions, also posed challenges.
Despite these hurdles, the market outlook remained stable as manufacturers focused on maintaining production levels to meet the sustained demand. The increase in food processing and cosmetics demand also bolstered BHT consumption. As a result, BHT prices remained relatively stable, supported by robust demand and manageable production costs throughout Q4.
APAC
In Q4 2024, the BHT market in the APAC region showed moderate growth, driven by consistent demand from end-use sectors such as pharmaceuticals, food processing, and cosmetics. The region’s demand for BHT remained steady, especially from the food industry, where it continued to play an essential role as a preservative.
The animal feed sector also witnessed higher demand, as BHT helps extend the shelf life of feed products. Throughout the quarter, the market faced challenges, including logistical disruptions caused by port congestion and the impact of geopolitical tensions. Despite these hurdles, the overall demand for BHT remained strong, especially in India, where it was primarily used in food processing and cosmetics. However, the volatility in toluene prices, stemming from crude oil fluctuations, continued to exert upward pressure on BHT production costs.
Manufacturers focused on increasing production capacity to meet the rising demand. Although supply chain issues persisted, the market outlook for BHT in the APAC region remained positive, with steady demand from both the food and animal feed sectors supporting the price trend.
Europe
In Q4 2024, the BHT market in Europe experienced stable demand, driven by consistent consumption in key industries such as food and beverages, pharmaceuticals, and cosmetics. BHT continued to be in demand for its antioxidative properties, particularly in food preservation and extending product shelf life. The animal feed industry also contributed significantly to the demand for BHT, as it played a vital role in preserving feed quality.
However, like other regions, Europe faced challenges from fluctuating raw material costs, particularly toluene, which impacted BHT production costs. Despite these fluctuations, the demand remained strong, especially in the food processing and pharmaceutical sectors. Geopolitical factors, including disruptions at European ports, created supply chain challenges and contributed to price volatility in the BHT market. Nevertheless, manufacturers maintained steady production levels, and the outlook for the BHT market in Europe remained stable.
Prices saw moderate increases due to higher production costs, but overall demand continued to support a balanced pricing environment for the quarter. Despite supply chain disruptions, the market demonstrated resilience throughout Q4 2024.
For the Quarter Ending September 2024
North America
The BHT market in the U.S. has witnessed a slowdown, driven by declining demand from industries such as plasticizers, animal feed, pharmaceuticals, cosmetics, and food. Price trends had been affected by fluctuating production costs, with isobutylene, a key feedstock, experiencing lower price movements in the previous month.
Additionally, shifting consumer preferences toward fresh, unprocessed food had contributed to reduced demand for packaged food products and pharmaceuticals, lessening the need for BHT’s antioxidant properties, which typically prolonged product shelf life. Although the advancements have deepened the understanding of BHT, concerns over its potential health risks had led to tighter regulations. This resulted in researchers scaling back efforts to enhance testing methods, and the development of advanced techniques for measuring BHT levels had decelerated, leading to a more cautious approach in its use across food, cosmetics, and pharmaceuticals.
During this period, the availability of Butylated Hydroxytoluene had been ample, supported by lower production costs due to declining stearic acid prices. Additionally, offshore oil and natural gas production units along the U.S. coast had faced significant threats from hurricanes and tropical storms, prompting emergency protocols to evacuate nonessential personnel and temporarily halt production.
APAC
The BHT market had experienced a slowdown, driven by reduced demand from sectors such as plasticizers, animal feed, pharmaceuticals, cosmetics, and food. Fluctuating production costs had also influenced prices, with isobutylene, a key feedstock, showing lower price movements in the previous month. Additionally, changing consumer preferences toward fresh, unprocessed food had contributed to reduced demand for packaged foods and pharmaceuticals, diminishing the need for BHT’s antioxidant properties, which typically extended product shelf life. Research momentum in the market had slowed as focus shifted to alternative additives considered safer. Despite advancements in understanding BHT, concerns over its health risks had led to stricter regulations. As a result, researchers had scaled back efforts on testing, and the development of advanced techniques for measuring BHT levels had slowed, leading to a more cautious approach toward its use in food, cosmetics, and pharmaceuticals. This month, the availability of Butylated Hydroxytoluene had been ample, supported by lower production costs as stearic acid prices had declined. Meanwhile, India's west coast ports, particularly Mundra Port, had faced severe delays and congestion due to heavy rainfall and ongoing capacity issues.
Europe
The BHT market in Europe had experienced a slowdown, driven by declining demand from sectors such as plasticizers, animal feed, pharmaceuticals, cosmetics, and food. Price trends had been influenced by fluctuating production costs, with isobutylene, a key feedstock, showing lower price movements in the previous month. Additionally, shifting consumer preferences toward fresh, unprocessed food had contributed to a reduction in demand for packaged food products and pharmaceuticals, decreasing the need for BHT’s antioxidant properties, which typically extended product shelf life. The development of advanced techniques to measure BHT levels had slowed, resulting in a more cautious approach toward its use in food, cosmetics, and pharmaceuticals. During this time, the availability of Butylated Hydroxytoluene in Europe had been ample, supported by lower production costs due to the decline in stearic acid prices. Additionally, offshore oil and gas production facilities in European waters had faced significant threats from adverse weather conditions, leading to emergency procedures to evacuate personnel and temporarily suspend operations. Although there were no reports of plant shutdowns, the market continued on a negative trajectory, remaining unaffected by supply disruptions. This downward trend underscores the challenges faced by the market and the strategic changes implemented by industry participants to address logistical issues and falling input costs.
FAQs
1. What is the current Spot Price of Butylated Hydroxytoluene (BHT) in key regions?
o USA: ~USD 3,100/tonne
o India: ~USD 2,870/tonne
o Europe: ~USD 3,020/tonne
2. Who are the top Butylated Hydroxytoluene (BHT) producers in the United States?
o Key producers include Eastman Chemical Company, BASF Corporation, and Lanxess.
3. What is the Butylated Hydroxytoluene (BHT) Price Forecast for Q3 2025?
o Prices are expected to remain neutral in the U.S., flat-to-soft in Europe, and stable with slight upside in India if demand rebounds.
4. What factors influenced the BHT Production Cost Trend in Q2 2025?
o Stable prices of feedstocks (p-cresol and isobutylene), balanced energy input costs, and efficient port logistics contributed to neutral-to-soft cost trends.
