July 03, 2019
WELLESLEY, Mass., July 03, 2019–Growth across end user industries, increased research and harsh regulations against phthalates are several factors which drive growth of the global Dioctyl Terephthalate market, according to a report by BCC Research, “Dioctyl Terephthalate and Emerging Alternatives.”
The market expects to see a compound annual growth rate (CAGR) of 6.2% through 2023, when it could be worth $1.5 billion.
“The plasticizer industry is a highly regulated industry with strict regulations persisting to the use of compounds,” writes BCC Research analyst Bhavna Joshi. “To moderate the harmful effects of the phthalates on the humans and the environment, governments legislate maximum permission limits for a multitude of compounds. The Phthalates such as DEHP and BBP are considered human carcinogenic and hence the use of these plasticizers have been restricted.”
The Dominance of Asia-Pacific
The report adds that Asia-Pacific is expected to dominate the global DOTP and emerging alternatives market. High infrastructural investments along with the region’s dominant position in plastic, automobile and electronic production are key factors. The European market is expected to exhibit modest growth over the forecast period. Strict REACH regulations on phthalate use in consumer goods and others should boost market growth.
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Dioctyl Terephthalate and Emerging Alternatives( CHM122A )
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