According to TechSci Research report, “Global DOTP (Di Octyl Terephthalate Plasticizer) Market By Application, By Region, Competition Forecast & Opportunities, 2023”, the global DOTP market is forecast to reach $2.1 billion by 2023, owing to rising demand for PVC (Polyvinyl Chloride) and growing infrastructure and construction activities across the globe. Moreover, increasingly stringent environmental regulations are shifting consumer focus towards adoption of ecofriendly plasticizers in order to protect environment. Thus, rising shift towards the non-phthalate and bio-based plasticizers coupled with escalating PVC consumption across the globe is expected to drive global DOTP market over the coming years. DOTP finds major application in building & construction sector owing to its high efficiency in improving the fluidity/plasticity of the concrete. Also, growing number of residential and commercial building projects along with rising end user preference towards an ecofriendly and phthalate free alternative is further fueling growth in the global DOTP market.
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Increasing efforts of DOTP manufacturers to capitalize on the growing demand for non-phthalate plasticizers from numerous end use industries across the international markets is resulting in expansion of DOTP production capacities across the globe. For instance, Oxea entered into a strategic partnership with a German company to inaugurate a production facility with a capacity to produce 60,000 metric tons per annum of DOTP in Europe from 2019. Infrastructure renovation activities in the North American countries such as United States & Canada and flourishing automotive sector in the European nations owing to increasing preference for light weight passenger vehicles, has led to rise in demand for DOTP plasticizers in these regions. Additionally, rapid infrastructure development in the large developing economies of China and India is generating high demand for DOTP in Asia-Pacific, due to which the region held the largest share in global DOTP market and is expected to maintain its position during forecast period as well.
“Many DOTP companies are focusing on mergers and acquisitions to enhance their product portfolio which is likely to positively influence global DOTP market during the forecast period. Moreover, several companies are expanding their manufacturing facilities in order to cater the rising demand for DOTP. For instance, BASF has set up a new DOTP plant at its Pasadena site in Texas. Additionally, rising trend of substituting low molecular weight phthalates by the non-phthalate plasticizers is anticipated to augment demand for DOTP over the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Browse 27 market data Table and 142 Figures spread through 163 Pages and an in-depth TOC on “Global DOTP Market”
“Global DOTP (Di Octyl Terephthalate Plasticizer) Market By Application, By Region, Competition Forecast & Opportunities, 2023” has evaluated the future growth potential of DOTP market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global DOTP market.
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