The dimethyl terephthalate market is expected to grow at a CAGR of 4.7% during the forecast period, to reach USD 1.32 billion by 2032 from USD 0.96 billion in 2022.
Report Attribute
Details
Dimethyl Terephthalate Market Value (2022)
US$ 0.96 Billion
Dimethyl Terephthalate Market Anticipated Value (2032)
US$ 1.32 Billion
Dimethyl Terephthalate Market Growth Rate (2022 to 2032)
4.7% CAGR
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Application for Manufacturing Polyethylene Terephthalate (PET) to Rule the Market
The primary use of DMT, among other things, is in the manufacture of PET resin and polymer. PET is being used more often in a variety of end-use industries, including packaging, construction, and electronics. The demand for PET is further fuelled by the rising need for flexible packaging. The production of PET is therefore anticipated to rise along with the expanding demand for PET from these businesses, which would likely raise the demand for DMT in the upcoming years. As a result of the variables, the market research during the projection period is anticipated to be dominated by the production of Polyethylene Terephthalate (PET).
Dimethyl terephthalate is most often consumed in Asia and the Pacific. The region's high percentage can be attributed to population growth and an increase in disposable income. Furthermore, the consumption of ready-to-eat foods is projected to increase soon due to rising urbanization and fast-paced lifestyles. The production and use of films, juice bottles, and bottled water produced of polyethylene terephthalate are anticipated to be influenced by these factors. Due to its outstanding adhesion properties and purity, an increase in polyethylene terephthalate usage throughout the region is predicted to increase dimethyl terephthalate output.
North American dimethyl terephthalate producers are working hard to improve the purity of their current product lines through considerable research, development, and use of cutting-edge technology. During the projected period, a rise in packaging demand from the food and beverage industry is anticipated to fuel market expansion. Numerous end-users have an increasing need for polybutylene terephthalate (PBT) and polyethylene terephthalate (PET), which are expected to drive market expansion in the next few years. Another significant factor expected to boost the market is the rising demand for polyesters across several end-user industries.
It is predicted that various government rules regarding PET production methods and usage will impede industry expansion overall. During the predicted timeframe, it is anticipated that fluctuations in raw material prices may impede market expansion. The global market for dimethyl terephthalate is anticipated to benefit greatly from research and development activity in developing nations.
In many areas, the food processing business is expanding. Given that dimethyl terephthalate is a feedstock to produce polyethylene terephthalate (PET) and polybutylene terephthalate (PBT), the demand for dimethyl terephthalate is likely to rise along with the food industry. The entire food and beverage business sector sales in Canada surpassed $87 billion in 2018, according to data from the United States Department of Agriculture (USDA).
Dimethyl terephthalate, also known as dimethyl 1, 4-benzenedicarboxylate is used as a feedstock in production of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT). Dimethyl terephthalate also assists in production of other chemicals like benzocaine, terephthalohydroxamic acid, terephthaldehyde, and terephthalamide, etc.
Dimethyl terephthalate plays a vital role in the manufacture of polyesters including polybutylene terephthalate (PBT) and polyethylene terephthalate (PET). Dimethyl terephthalate also finds use in the fabrication of polyester resins for varnishes, films, and adhesives.
The dimethyl terephthalate market has been gradually reducing over the span of last few years owing to the presence of substitutes which are more economical. Over 90% of global consumption of dimethyl terephthalate is in the production of Polyethylene Terephthalate (PET) chips.
Global Dimethyl Terephthalate Market: Regional Outlook
Asia-Pacific is anticipated to be the most important region with respect to Dimethyl terephthalate demand and production. The consumption of the dimethyl terephthalate has been declining globally since last few years.
Japan is the most prominent country with the dimethyl terephthalate capacity accounting for more than half of the installed dimethyl terephthalate capacity in the Asia-Pacific region. Asia-Pacific is closely trailed by China and Korea in terms of dimethyl terephthalate capacity.
Countries like China, Japan, and South Korea have the major share of production capacity in the Asia-Pacific region.
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Global Dimethyl Terephthalate Market: Drivers
Polyethylene Terephthalate and Polyester represents the two major end-use industries for dimethyl terephthalate market.
The high rate of demand from these segments especially in the Asia-Pacific region is expected to fuel growth of the global dimethyl terephthalate market. Moreover, the low feedstock prices are expected to drive the growth of the global dimethyl terephthalate market.
Global Dimethyl Terephthalate Market: Restraints
Global dimethyl terephthalate market production has become stagnant owing to the increasing competition from PTA-based polymers and purified terephthalic acid (PTA), thus hindering growth of the global market.
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Global Dimethyl Terephthalate Market: Key Players
Some of the major players identified in the global dimethyl terephthalate market are Teijin Limited, China Petroleum & Chemical Corporation, SK Innovation Co., Ltd., Cepsa Quimica, Bombay Dyeing & Maunfacturing Co Ltd – (BDMC), Artenius Turkpet, Invista, Bongaigaon Refinery & Petrochemicals Ltd – (BRPL), Eastman Chemical, Elana SA, Fiber Intermediate Product Co - (FIPCO), Liaoyang Petrochemical Co - (LYPC), Mogilevkhimvolokno JSC, Oxxynova, Petrobrazi, Petrocel SA, Teijin Ltd, Yambolen AD, etc.
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Historical Actual Market Size, 2012 - 2014
Passive Infrared Sensor Market Size & Forecast 2015 to 2025
Supply & Demand Value Chain
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Regional analysis for Passive Infrared Sensor Market includes
North America
US & Canada
Latin America
Brazil, Argentina & Others
Western Europe
EU5
Nordics
Benelux
Eastern Europe
Asia Pacific
Australia and New Zealand (ANZ)
Greater China
India
ASEAN
Rest of Asia Pacific
Japan
Middle East and Africa
GCC Countries
Other Middle East
North Africa
South Africa
Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Dimethyl Terephthalate Market: Segmentation
Global dimethyl terephthalate market is segmented into manufacturing process, upstream products, downstream products, and region
On the basis of manufacturing techniques used for production of dimethyl terephthalate, the market is segmented into:
written process
other processes
On the basis of upstream products, the global dimethyl terephthalate market is segmented into:
methanol
terephthalic acid
xylenes-mixed xylenes etc.
On the basis of downstream products, the global dimethyl terephthalate market is segmented into:
polybutylene terephthalate
polyethylene terephthalate
On the basis of regions dimethyl terephthalate, the market is segmented into:
North America
Latin America
Eastern Europe
Western Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East and Africa (MEA)
Frequently Asked Questions
What is the Growth Outlook for Dimethyl Terephthalate Market?
The market is likely to register a CAGR of 4.7% through 2032.
What is the Current Valuation of the Market?
The market is currently valued at US$ 0.96 Bn in 2022.
How is the Future of the Market?
The market is likely to grow to a valuation of US$ 1.32 Bn by 2032
Which is the Leading Region in the Market?
Asia Pacific is likely to be a leading market during the forecast period.
