Industry Overview - DOTP, or dioctyl terephthalate, is a commonly used plasticizer and an organic compound with excellent environmental properties, making it a preferred choice in the market [1][2] - The production process of DOTP includes direct esterification, ester exchange, and acyl chloride hydrolysis, with direct esterification being the mainstream method in China due to its simplicity and high yield [2][4] Current Industry Status - The plasticizer market in China experienced a slight decline in 2022 after rapid growth from 2018 to 2021, but demand for eco-friendly plasticizers like DOTP is recovering, leading to a projected market size growth of approximately 3% in 2024, reaching 32.703 billion yuan [5][9] - DOTP's production in China is expected to rise from 1.333 million tons in 2018 to around 1.848 million tons in 2024, with a cumulative production of 303,240 tons in the first quarter of 2025, reflecting a year-on-year growth of 1.44% [9][11] Competitive Landscape - The market for DOTP and other plasticizers in China is characterized by low competition and a blue ocean market, with major players including Jiaao Enprotech, Zhengdan Chemical, and Jianye Co., which collectively hold about 7% market share [11][12] - The market is divided into two tiers, with the first tier consisting of established companies and the second tier comprising newer entrants with limited product lines [11] Development Trends - The demand for DOTP is driven by stringent environmental regulations, with DOTP gradually replacing traditional plasticizers like DOP due to its non-toxic nature and superior properties [16] - The expansion of DOTP production capacity is unevenly distributed across regions, with East China holding over 60% of the capacity, leading to potential market oversupply and price competition [17][18] - Emerging applications in new industries such as electric vehicles and lithium battery separators are expected to drive DOTP demand growth at an annual rate of 25% over the next five years [19]