Building & Construction Application to Lead Global DOTP Market through 2023
Growing
demand for non-toxic and eco-friendly phthalate in plastic processing and
robust growth of building & construction industry to
boost global DOTP market through
2023
According to TechSci Research report, “Global DOTP 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.
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“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.
“Global Di OctylTerephthalate 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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