Increasing demand for PET polymer is one of the significant factors influencing market growth.
The global Dimethyl Terephthalate Market is expected to reach USD 1,185.9 Million by 2028, according to a new report by Reports and Data. The growth of the dimethyl terephthalate market is primarily owing to the increasing application of this organic compound, especially in the production of polyethylene terephthalate.
Dimethyl terephthalate finds application in the modification and improvement of polymer materials. It is deployed to produce esters that are utilized as plasticizers. Products such as polyester polyols, polyester resins, anhydrides, dyes and pigments, and insect repellents possess these plasticizers. Moreover, it is an elementary material in making several beneficial thermoplastics, X-ray, and video films, along with electrical capacitors.
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Top Lading Players: SK Innovation Co. Ltd., Artenius Turkpet, Cepsa Quimica, AB Enterprises, Eastman Chemical Company, Teijin Ltd., Oxxynova GmbH, Sinopec Limited, SASA, Bongaigaon Refinery Petrochemicals Ltd., and Petrocel SA, among others.
Dimethyl Terephthalate Market Growth:
The global Dimethyl Terephthalate (DMT) market is expected to grow at a steady pace over the forecast period (2021-2028). Factors driving the growth of the market include increasing demand for polyester fibers and films, rising demand for PTA (purified terephthalic acid) in PET bottle production, and the growing demand for DMT as a solvent in various end-use industries.
Moreover, the rising trend of lightweight and eco-friendly packaging solutions in the food and beverage industry is expected to further fuel the demand for DMT. The growing demand for electric vehicles (EVs) and the use of DMT in the production of battery components are also expected to drive market growth.
Furthermore, the Asia-Pacific region is expected to dominate the DMT market due to the rapidly expanding textile and packaging industries, along with increasing investments in the chemical industry. North America and Europe are also expected to contribute significantly to market growth due to the rising demand for polyester fibers and films.
Overall, the DMT market is expected to witness significant growth opportunities in the coming years, driven by the increasing demand for sustainable and eco-friendly materials in various end-use industries.
Some Key Highlights from the Report:
- By product type, solid dimethyl terephthalate contributed to the largest market share in 2020.
- By application, polyethylene terephthalate (PET) held the largest market share in 2020 and is estimated to grow at a rate of 3.6% in the forecast period. Polyethylene terephthalate (PET) is the thermoplastic with the most extensive application across the globe, and it is the most preferred solution for the packaging of consumable products. Moreover, fabrics made from PET are durable and flexible, and when combined with materials such as cotton, can decrease shrinking, wrinkling, and makes it tear-resistant.
- By distribution channel, online sales channel dominated the market in 2020 and is forecasted to grow at a rate of 4.8% in the period 2019-2026. Online sales channel helps the market players to have access to a broader market irrespective of whether they have physical presence in that region or not.
- The market in the Asia Pacific region dominated the market in 2020 and is likely to grow at a rate of 4.9% in the forecast period. The market dominance of the APAC region is attributed to the increasing industrialization, strong economic growth, and growing investment activities in developing countries, including India, and China, among others. Also, the rising demand from the end-user industries like the automotive, food beverage, electrical electronics, and pharmaceutical industry is driving the market growth in the region.
Segments covered in the report:
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Solid Dimethyl Terephthalate
- Liquid Dimethyl Terephthalate
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Polyethylene Terephthalate (PET)
- Polybutylene Terephthalate (PBT)
- Others
Distribution Channel Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Direct Sales
- Indirect Sales
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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