Global Dioctyl Terephthalate Market Latest Innovations, Drivers, Restraints, Challenges and Industry Key Events 2019-2023

Market Overview:

Market Research Future (MRFR) has launched a new report on the Global Dioctyl Terephthalate Market. The report studies the market’s historical and present statistics in order to come up with reliable forecasts for the market’s likely growth trajectory over the 2018-2023 forecast period. According to the report, the global dioctyl terephthalate market is expected to rise from a 2018 valuation of USD 1,203.2 million to USD 1,864.7 million by 2023 at a CAGR of 9.16%.

Dioctyl terephthalate (DOTP) is the diester of terephthalic acid and is widely used as a non-phthalate plasticizer. Its toxicological and physical characteristics, such as high thermal resistance, high transparency, and excellent durability, are well suited for this application. The growing regulatory support to replacing phthalates with more environmentally viable alternatives is likely to drive the global dioctyl terephthalate (DOTP) market over the forecast period. Phthalates have also been linked to a number of diseases ranging from asthma to breast cancer, which has also driven the demand for alternatives. The safer, toxicologically harmless dioctyl terephthalate is thus likely to take their place in the increasingly lucrative consumer goods and plastics markets in the coming years.

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Competitive Dashboard:

Key players profiled in the report Nan Ya Plastics Corporation (Taiwan), Penta Manufacturing Company (U.S.), Merck KGaA (Germany), BASF SE (Germany), Hanwha Chemical Corporation (South Korea), Grupa Azoty (Poland), Meltem Kimya Tekstil San. İth. İhr. Ve Tic. A.Ş. (Turkey), Eastman Chemical Company (U.S.), Shandong Blue Sail Chemical Co. Ltd. (China), Hallstar (U.S.), and OXEA GmbH (Italy).Increasing the production capacity of dioctyl terephthalates is likely to be a popular competitive strategy among players in the global dioctyl terephthalate market over the forecast period.

Dioctyl Terephthalate Market Top Key Players Latest Innovation News:

BASF SE (BASF) is one of the largest chemical producers that operates through 13 divisions, eight functional units, and seven corporate units. It operates through five business segments—chemicals, performance products, functional materials and solutions, agricultural solutions, and oil & gas. It has a presence in eighty countries and operates through six Verbund sites and 347 additional production sites. It started the production of DOTP at its Pasadena site in Texas, US with an annual capacity of 60,000 tonnes, after closing the production of molten phthalic anhydride in North America. It also started operating an oxo alcohol unit for 2-EH (2-ethylhexanol) at the site, with a rated capacity of 100,000 metric tons, per year.

Eastman Chemical Company (Eastman Chemical) is a leading manufacturer of advanced materials and specialty additives. It operates through four business segments, namely additives & functional products, chemical intermediates, advanced materials, and fibers. It has operations in over 100 countries with around 50 manufacturing centers across the globe. It had assets worth USD 15,999 million, as of 2017, and invested USD 215 million into its research and development activities.

On 21 March 2018, Oxea had an agreement with Oxxynova, Steyerberg, a manufacturer of dimethyl terephthalate (DMT), based in Germany for the production of DOTP. Oxea aims to produce 60,000 metric tons of DOTP, per year in Europe by 2019. The former will supply the key precursor 2-ethylhexanol (2-EH) to Oxxynova and the new production unit will be constructed at Oxxynova’s manufacturing site in Germany.

Hanwha Chemical Corporation (Hanwha Chemical) is one of the leading manufacturers of general-purpose plastics and inorganic chemical products. It operates through five major business segments and they are Dioctyl Terephthalate, polyvinyl chloride, chlor-alkali, polysilicon, and toluene diisocyanate. It offers DOTP under the polyvinyl chloride segment. It is a part of Hanwha Corporation and owns subsidiaries across China, India, Saudi Arabia, Thailand, and Malaysia.

The company owned assets worth USD 11,475 million as of 2016, which increased to USD 12,793 million as of 2017. It has eight production sites across the globe and produces approximately 20,000 metric tons of DOTP, annually.

In March 2018, Grupa Azoty increased its Oxoviflex capacity by 15,000 tons, per year. It will launch a new plant for specialty fertilizers in 2019, given the increasing customer requirements.

Hallstar manufactures chemistry solutions for industrial polymer and beauty and personal care sectors. It offers functional naturals, liquid crystal emulsifiers, biomimetic additives, renewable plasticizers, esters, and phthalate replacements. It has two manufacturing facilities in the US and over 100 distributors spread across Europe, Asia-Pacific, and the Americas. The company owns around 100 patented technology. Some of its famous brands include Paraplex, Plasthall, Hallcote, Quikote, Maglite, and Marinco.

Global Dioctyl Terephthalate Market Segmentation:

The dioctyl terephthalate market is segmented on the basis of product type, application, and region in the report. By product type, the global dioctyl terephthalate market is segmented into content 96%, content 98%, content 99%, and content 99.5%. The highly pure 99% and 99.5% segments are likely to be the major contributors to the market over the forecast period. The 99% segment is likely to exhibit the highest 9.59% CAGR over the forecast period, with the 99.5% segment clocking in a CAGR of 9.07% over the same period.

By application, the DOTP market is segmented into consumer goods, films and sheets, coated fabrics, flooring, medical devices, wires and cables, gaskets, automotive parts, and others. The consumer goods segment is expected to be the major application segment of the global dioctyl terephthalate market over the forecast period due to the growing consumer disposable income in emerging economies around the world. The segment accounted for close to 25% of the market in 2018 and is likely to remain similarly dominant over the forecast period, wherein it is expected to exhibit a CAGR of 10.52% over the forecast period.

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Dioctyl Terephthalate Research Methodology:

Strong primary research is backed up by extensive secondary research in this report to ensure the accuracy of every data point. Leading players in the market are contacted for primary interviews, while reliable industry publications are used for secondary research. Exhaustive analysis is conducted through tried and tested analytical tools in order to provide accurate results for the readers. The accuracy of the data gathered is a matter of prime importance at Market Research Future, and every precaution is taken to ensure the same.

Regional Analysis:

By region, the dioctyl terephthalate market is segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. Asia Pacific, followed by Europe, is expected to be the major contributor to the global dioctyl terephthalate market over the forecast period. The growing consumer goods industry in Asia Pacific is likely to be a key factor in driving the DOTP market in the region over the forecast period. Asia Pacific held 37.8% of the global dioctyl terephthalate market in 2018, while Europe accounted for more than 30% the same year. The Asia Pacific market for dioctyl terephthalates is expected to exhibit a strong CAGR of 8.45% over the forecast period. The extensive REACH regulations in Europe against the use of phthalates are likely to be a major driver for the dioctyl terephthalates market over the forecast period.

Intended Audience:

Dioctyl Terephthalate Manufacturers
Dioctyl Terephthalate Suppliers and Distributors
Potential Investors
Raw Material Suppliers
Dioctyl Terephthalate Associations
End Use Industries

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