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Dimethyl Terephthalate Market Trends

Report ID: GMI9842
Published Date: Jun 2024
Report Format: PDF

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Dimethyl Terephthalate Market Trends

The dimethyl terephthalate industry is experiencing a notable upward trend driven by several key factors. Firstly, the increasing demand for polyethylene terephthalate (PET) resin, of which DMT is a vital component, is propelling market growth. PET resin finds extensive applications in packaging, textiles, and automotive industries, among others, driving the demand for DMT. Additionally, the growing emphasis on sustainability and recyclability is fueling the adoption of recycled PET (rPET), further boosting DMT demand as a crucial ingredient in rPET production.

Moreover, the Asia-Pacific region is emerging as a significant growth driver for the DMT market, fueled by rapid industrialization, urbanization, and increasing consumer demand for PET-based products. Technological advancements in production processes, coupled with expanding applications in consumer electronics, electric vehicles, and energy storage systems, are contributing to the market's expansion.

However, challenges such as volatility in raw material supply and competition from alternative materials remain significant concerns for market players. Despite these challenges, the overall outlook for the DMT market remains positive, with sustained growth expected in the coming years, driven by evolving consumer preferences, technological innovations, and expanding industrial applications.

Authors: Kiran Pulidindi , Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for dimethyl terephthalate was USD 1.14 billion in 2023 and is expected to register over 5.8% CAGR from 2024-2032 owing to its extensive use in the production of polyethylene terephthalate (PET) resin, crucial for manufacturing bottles, fibers, and films worldwide.

Dimethyl terephthalate industry from the solild segment is expected to reach USD 1.35 billion by 2032 due to their practical advantages in handling, storage, and transportation.

Asia Pacific industry is expected to record USD 595.3 million by 2032 due to the rapid industrialization, urbanization, and burgeoning consumer demand in the region.

Eastman Chemical Company, Fiber Intermediate Product Company, Haihang Industry Co. Ltd, Kanto chemical co inc., Kishida Chemicals, Merck, Oxxynova, Sarna Chemicals, SK Chemical, and Tokyo Chemical Industry, are some of the major dimethyl terephthalate companies worldwide.