The dioctyl terephthalate market was valued at a CAGR 9.16% CAGR 2021-2030 (forecast period), as per the latest findings by Market Research Future (MRFR).
The dioctyl terephthalate is an organic compound with a molecular formula. It is a non-phthalate plasticizer and a unique type of acid. There are plenty of features of this product. Exceptional thermal resistance, high transparency and exceptional durability are key factors of the market. Many features of dioctyl terephthalate make it suitable for industrial purposes.
It is a colourless liquid that can soften PVC polymers. Plasticizing features of dioctyl terephthalate are exceptional. In many applications is an alternative for components such as DEHP and DINP. During the forecast period, the dioctyl purified terephthalic market will witness an increase in government support. Also, dioctyl is an acid that contains carbon sources. Increasing demand for consumer goods and the plastics market will create high growth opportunities in the market.
Like any other chemical acid, the demand for the market is surging. It is also used as a wetting agent; synthetic lubricant de-foaming liquids are some of the applications of the market. These chemicals are used for various flexibility and resilient purposes. It is also used as plaster for medical devices cables, consumer goods and wiring. The use of the resin-based wall covering is gaining more exposure among end-users it is creating exceptional growth opportunities for the market all these factors will contribute to immense dioctyl terephthalate market value.
Covid analysis
The outbreak of covid 19 is challenging too many markets. Carrying out the business operation is difficult in this period. The production in many industries is slowing down. Due to raw material shortage, workers safety and declining demand there is a decline in the markets. Dioctyl terephthalate is a factor that can have many uses and applications. The market is facing a downfall in terms of revenue and production.
The use of this acid is prevalent in the medical industry. Due to the demand from the medical sector, the need for dioctyl terephthalate is high. The surging need in various sectors will continue in upcoming years. However, the supply chain disruptions will be high for the market. The supply gap can create a decline in demand deliveries of the market. Usage of the product in other markets will surge.
Demand from the end industries plays a crucial role in the market. The end users have surging demand for the product. Demand from the films industry is contributing to the expansion of this market. The dioctyl terephthalate is a suitable material for the films and sheets. They are flexible and sturdy enough to create sheets that are not easily tearable.
These properties of the dioctyl terephthalate make demand high for it in this market. Further, the use of the material for the cable wiring is another crucial demand driving factor. Cable wirings are durable. Especially, they are wires that need to tolerate harsh weather water, heat and more. Due to the dioctyl terephthalate water-resistant properties, they are suitable for cable wiring. The electricity in the wires has good conduction due to exceptional protection by the dioctyl terephthalate plastics.
Heat resistance, UV resistance and high stability are common features of the product. The cable market is growing due to the rising television connection in many regions. It is positively impacting the growth of the dioctyl terephthalate market. Also, the use of the material in the consumer goods market is another demand driving factor. Consumer goods have exceptional investments for the market. Demand from these end-users lead to high supply rates of the market.
Growing demand from the emerging market will create dioctyl terephthalate market growth opportunities. The Asia Pacific is an emerging economy that has a high demand for dioctyl terephthalate. The terephthalate is available in different forms in these regions. The use of the material as a plasticizer will create more growth opportunities in the market. High adoption of plastics in the medical sector will create exceptional growth opportunities.
The health industry is rising and making high developments. Due to this, the investments in medical devices and equipment are surging. This surge in investment will create a high need for plasterers in medical devices. During the covid 19 exposure of this product in the medical sector is massive. The adoption rate is rising at an exponential pace.
Further, the cost-effectiveness of this product is creating more demand for it than its alternatives. The use of terephthalate in various construction and decorative applications are rising. Many buildings and wall covering use this material. They come with adhesive properties. The use of this product in the food market is growing in recent years. All these factors will create promising development in the market.
The dioctyl terephthalate is a type of plastic that is non-degradable. Due to this, there are stringent rules in the use and production of these markets. They are molecules made from plastics. The usage of terephthalate acid for industrial use has damage on the environment.
Due to these reasons, government imposes regulations on the market. Complying with these rules may affect the growth of this market. The production rate can slow down due to these factors. Stringent rules for limited use in food and medical markets can hinder growth. Also, supply rates may slow down in the forecast period.
The lack of awareness about the product is a challenging factor. Terephthalate is an alternative to plastics and their molecules. Unlike the other alternatives, it has less awareness. The knowledge of certified products of this market is less. Due to less awareness penetration of the product in some regions is less.
Industries having high potential and scope have less awareness. It leads to lesser expansion of the market. Also, the adoption rate of the dioctyl terephthalate can decline in the forecast period. The decline in the adoption rate can constrict future developments of the product.
The dioctyl terephthalate market trends is stable for the forecast period. There are plenty of factors that boost growth. There are different grades of the product available in the market. The top grade of dioctyl terephthalate has high demand in the global market. The 99% dioctyl terephthalate is pure and comes with high corrosion resistance.
There are biodegradable films segment of the market that is gaining high demand among the end-users. Use of the product for tunnels, cables, greenhouse and pipes will create high scope in the forecast period. All these factors will boost the growth of the market. However, stringent rules can cause restrictions in the market.
Asia pacific outgrows other regions with the highest dioctyl terephthalate market share. The need for plastics is high in Asia pacific. Especially, Biodegradable and less harmful plastics are gaining traction in the market.
Use to industrialization and other factors the demand in these regions surges. China and India are key manufacturers that have high production of dioctyl terephthalate. Rising demand for the product in the medical industry will contribute to the growth of the market. Also, growth opportunities are high due to construction activities.
Dioctyl terephthalate market End Use
Dioctyl terephthalate market
Competitive landscape
Competition in the dioctyl terephthalate market is growing. Price competition in the market is expected to rise. Expansion, mergers, acquisitions, partnerships and collaborations for the market will grow. The need for dioctyl terephthalate and a new product range will create more development in the market. Key players are making new development and biodegradable product.
Regional analysis
The dioctyl terephthalate market has three major regions Asia Pacific, Europe, North America are key regional places. The Asia Pacific will have the highest shares due to industrialization. The consumer goods product will contribute to the high demand rate in the market. China, Japan and India are key contributors to high growth.
Also, North America is the next largest player with a high number of shares. North America will have demand from constructions and the medical markets. The use of the product as a plasterer will create an exceptional impact on the market growth. Europe is the largest market with high expansion. The products are developing in the market and biodegradable dioctyl terephthalate has higher use.
Industry Updates
March 2019 - Sibur, a petrochemical company based in Russia, announced the commencement of DOTP production at its Perm facility. The facility is likely to be Europe's largest production site of its kind and would help the company assume leadership over the market in the coming years.
Recent developments
Report overview
| Report Attribute/Metric | Details |
| Â Â Market Size | Â Â USD Significant |
| Â Â CAGR | Â Â 9.16% ( 2021-2030) |
| Â Â Base Year | Â Â 2023 |
| Â Â Forecast Period | Â 2024-2032 |
| Â Â Historical Data | Â Â 2019 & 2020 |
| Â Â Forecast Units | Â Â Value (USD Million) |
| Â Â Report Coverage | Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Â Â Product type, application, and region |
| Â Â Geographies Covered | Â Â North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | Â Â BASF SE (Germany), Eastman Chemical Company (U.S.), Merck KGaA (Germany), OXEA GmbH (Italy), Hanwha Chemical Corporation (South Korea), Penta Manufacturing Company (U.S.), Meltem Kimya Tekstil San. Ä°th. Ä°hr. Ve Tic. A.Åž. (Turkey), Shandong Blue Sail Chemical Co. Ltd. (China), Hallstar (U.S.), Nan Ya Plastics Corporation (Taiwan), and Grupa Azoty (Poland). |
| Â Â Key Market Opportunities | Â Â The growing regulatory support to replacing phthalates with more environmentally viable alternatives. |
| Â Â Key Market Drivers | Â Â Phthalates have also been linked to a number of diseases ranging from asthma to breast cancer, which has driven. |
Dioctyl Terephthalate Market Highlights:
Frequently Asked Questions (FAQ) :
Dioctyl Terephthalate Market is predicted to grow at 9.16% through forecast period of 2024-2032.
The forecast period for Dioctyl Terephthalate Market research report is 2024-2032.
The Asia Pacific is the key regional player with the highest shares.
The major players are BASF SE (Germany), Eastman Chemical Company (U.S.), Merck KGaA (Germany), OXEA GmbH (Italy), Hanwha Chemical Corporation (South Korea), Penta Manufacturing Company (U.S.), Meltem Kimya Tekstil San. Ä°th. Ä°hr. Ve Tic. A.Åž. (Turkey), Shandong Blue Sail Chemical Co. Ltd. (China), Hallstar (U.S.), Nan Ya Plastics Corporation (Taiwan), and Grupa Azoty (Poland).
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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