This site uses cookies, including third-party cookies, that help us to provide and improve our services. Privacy Policy

Professionals 246 Users Online

Dimethyl Terephthalate Market

Surge in electrical and electronics industry to propel the demand for Dimethyl Terephthalate: Opportunities Ahead

Global Dimethyl Terephthalate Market by Form (Flake DMT, Liquid DMT, Oval DMT) - In Asia Pacific Region 100% of the Installed Capacity Dimethyl Terephthalate Companies are Teijin Ltd, China Petroleum and Chemicals Co., and SK Innovations

Dimethyl Terephthalate Market Outlook (2023 to 2033)

Newly-released Dimethyl Terephthalate Market analysis report by Persistence Market Research reveals that global sales of Dimethyl Terephthalate in 2022 were held at US$ 814 Million. With a projected CAGR of 21.3% from 2023 to 2033, the market is expected to reach a valuation of US$ 1.2 Billion by the end of the forecast period. The Dimethyl Terephthalate market through Food & Beverages industry is expected to generate significant revenue and is projected to grow at a CAGR of over 3.2% from 2023 to 2033.

Attributes

Details

Global Dimethyl Terephthalate Market Size (2023)

US$ 814 Million

Global Dimethyl Terephthalate Market Size (2033)

US$ 1.2 Billion

Global Dimethyl Terephthalate Market CAGR (2023-2033)

3.4%

U.S Dimethyl Terephthalate Market CAGR (2023 – 2033)

3.1%

Key Companies Covered

  • TCI Chemicals
  • Teijin Ltd.
  • Merck KGaA
  • Eastman Chemical Company
  • A.B Enterprises
  • SK Petrochemicals Co., Ltd
  • Fiber Intermediate Products Co.
  • JSC Mogilevkhimvolokno
  • Sarna Chemicals Pvt. Ltd.
  • SASA
Sample Report

FREE Report Sample is Available

In-depth report coverage is now just a few seconds away

Download PDF Get FREE Report Sample

Revenue of Dimethyl Terephthalate from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the Dimethyl Terephthalate Market research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value of Dimethyl Terephthalate increased at around 4.3% CAGR. With an absolute dollar opportunity of US$ 334 Million, the market is projected to reach a US$ 1.2 Billion valuation by 2033.

The prominent applications for DMT are PBT (Polybutane Terephthalate) and PET (Polyethylene Terephthalate) which are used across several industries. PBT is predominantly used in the electrical and electronics industry as a system component. Electricals and Electronics market currently account for 35.5% of the PBT consumption and is projected to reach 1.5 Million Metric Tons by 2026.

This rise in demand for PBT will contribute to the growth in demand for DMT as raw material. Apart from this, DMT is also used in PET which is utilized in food packaging, consumer goods, etc. The PET segment is expected to grow at a CAGR of 9% in 2023 and is projected to reach US$ 42 billion by the end of 2023.

Custom Report Cover

Make This Report Your Own

Take Advantage of Intelligence Tailored to your Business Objective

> Get a Customized Version

Which key factors are influencing the Dimethyl Terephthalate industry’s expansion?

The rise in demand for PET is the leading factor affecting the growth and expansion of the Dimethyl Terephthalate industry. PET is primarily required and used in flexible packaging across various industries. The largest use of PET is in the food and beverage industry, which uses PET bottles to package bottled water, and various soft drinks that are widely consumed across the world. The rising demand for PET from the food and beverage industry is likely to drive the demand for the dimethyl terephthalate market.

The market size of PET globally was held at over US$ 37 Billion in 2022 and it is forecasted to reach a valuation of US$ 77.8 Billion by 2028. Food packaging is the prominent industry driving the demand.

PBT (Polybutylene Terephthalate) which is derived from DMT is used in the form of an insulator in the electronics industry. A rise in demand for insulated wire for manufacturing electrical devices and appliances will also raise the demand for DMT providing with more opportunities in the market.

The market size of PBT in 2023 is valued at US$ 2.8 Billion and is projected to reach US$ 4.6 Billion by the end of 2033. the market is expected to grow at 5.2% during the forecasted period. Rising demand in consumer electronics and automotive industry are the driving factors for the rise in demand for PBT in the Forecasted period

Market Research Methodology

Market Research Methodology

-Perfect through Years of Diligence

Check Research Methodology

Which Region is projected to offer Significant Opportunity to Dimethyl Terephthalate Market?

In Asia Pacific Dimethyl Terephthalate Market was held at US$ 411.7 Million in 2022 and is estimated to reach a valuation of US$ 427 Million in 2023. Asia Pacific houses three key companies namely Teijin Ltd, China Petroleum and Chemicals Co., and SK Innovations, that account for 100% of the installed capacity of Dimethyl Terephthalate in the region.

Zaid Sheikh

Zaid Sheikh
Client Partner

Let's Connect

Conect me to identify wining opportunities

Ask An Expert
I'm Available

Country-wise Analysis:

United States Dimethyl Terephthalate Market Analysis:

The market in the United States is expected to be worth US$ 200.9 Million with an absolute dollar growth of US$ 52.7 Million between 2023 and 2033. The market in the United States has grown at a CAGR of 1.3% from 2018 to 2022 and is expected to grow at a CAGR of 3.1% from 2023 to 2033.

The United States has emerged as a prominent and only producer of Dimethyl terephthalate in the North America Region as all of the active DMT-producing plants in the region are situated in the United States. Eastman chemical is one of the key players in the region.

A significant amount of DMT produced in The United States is used for the manufacturing of PET which is primarily used in the food packaging industry. Eastman Chemicals is planning to open up plastic recycling plants with an investment of around US$ 2 Billion across three locations in the U.S. and France. Eastman Chemicals aim to use polyester renewal technology (PRT) which will break down polyesters into ethylene glycol and DMT that can further be recycled.

Türkiye Dimethyl Terephthalate Market Analysis:

Türkiye based SASA Polyesters Sanayi AS in march of 2022 announced its plan to invest around US$ 330 Million in the construction of a new production plant in Adana. The plant will be completed by the fourth quarter of 2023 and will have a production capacity of 367,500 tons of polyester fibers per year. This increase in production capacity will drive the demand for DMT in the country.

China Dimethyl Terephthalate Market Analysis

The market in China is expected to grow to be worth US$ 310 Million with an absolute dollar growth of US$ 115.5 Million. The Dimethyl Terephthalate market in China has grown at a CAGR of 6.3% from 2018 to 2022 and is expected to grow at a CAGR of 4.8% from 2023 to 2033.

China is one of the key producers of Dimethyl Terephthalate in the Asia Pacific. The demand for DMT has witnessed a steady rise in recent years and is expected to grow rapidly in the future as well. The prominent use of DMT in the country is in polyester fibers, which are used across various industries such as the textile industry where it is used to manufacture clothing such as shirts, hats, etc. China’s Petroleum and Chemical Corporation is among the key companies producing DMT in the country.

Japan Dimethyl Terephthalate Analysis:

The market in Japan is expected to grow to be worth US$ 191 Million by 2033, with an absolute dollar growth of US$ 57 Million. The market in Japan has grown at a CAGR of 4.5% from 2018 to 2022 and is expected to grow at a CAGR of 3.6% from 2023 to 2033.

Japan accounts for around 60% of the total installed capacity of DMT in the Asia Pacific. Teijin Ltd is one of the dominant players in Japan and is among the top manufacturers of DMT globally. Japan’s Teijin frontier recently launched a new recycling technology for polyester fibers by using DMT during the recycling process. According to the company, DMT-based chemical recycling will result in less deterioration in quality due to the recycling process. Teijin is also working to develop new technologies to improve the quality of recycled polyester raw materials as well as also to reduce the overall environmental load.

South Korea Dimethyl Terephthalate Market Analysis:

The market in South Korea is expected to grow to be worth US$ 74.6 Million with an absolute dollar growth of US$ 23.2 Million. The market in the country has grown at a CAGR of 5.6% from 2018 to 2022 and is expected to grow at a CAGR of 3.8% from 2023 to 2033.

South Korea is one of the prominent countries producing Dimethyl Terephthalate in the Asia Pacific. PBT is used for the insulation of wires and is derived from Dimethyl Terephthalate. The South Korean electronics industry has witnessed significant growth in the recent years and is projected to grow by 0.6% annually. The revenue generated from consumer electronics alone amounts to US$ 17.7 Billion with telephony having the largest segment at US$ 8.9 Billion.

This growth in the electronics and electrical market has propelled the demand for DMT in the country. SK Chemicals produce a large proportion of Dimethyl Terephthalate produced within the country.

Category-wise Insights

Which Application in the Dimethyl Terephthalate Industry is Projected to Witness Significant Growth?

The market for Polyethylene Terephthalate Manufacturing is projected to witness the fastest growth as it has grown at a CAGR of 4.1% from 2018 to 2022 and is expected to grow at a CAGR of 3.3% from 2023 to 2033.

There also has been a rising demand for PET in the food and beverage industry. Packaging includes beverages such as carbonated soft drinks and bottled water. The market size of PET globally was over US$ 37 Billion in 2022 and it is forecasted to grow at a CAGR of 9.7% to US$ 78 Billion by 2028.

The PET market not only involves bottles and jars but also clothing, carpet, automotive parts, etc. According to the Plastics Industry Association, a USA-based plastic industry association, there was a 2.2% increase in demand for PET to the previous year driven owing to the rise in demand in the food and beverage industry.

The prominent countries manufacturing/utilizing PET are China, France, Indonesia, India, Japan, and Russia.

Competitive Analysis:

The key players in this industry are investing heavily in new technologies for improving the quality of their products. The companies are also collaborating and installing new plants to increase production and keep up with the demand.

Key players in the Dimethyl Terephthalate industry are TCI Chemicals, Teijin Ltd., Merck KGaA, Eastman Chemical Company, A.B Enterprises, SK Petrochemicals Co., Ltd., SASA polymers, Fiber Intermediate Product Co, Liaoyang Petrochemical Co, Mogilevkhimvolokno JSC, Oxxynova, Petrobrazi, Petrocel SA, Yambolen AD, etc.

Some of the recent developments in the Dimethyl Terephthalate market are:

  • In December 2022- Itochu, Teijin, and JGC entered into a partnership to license polyester recycling technology. The new venture between these companies will make use of new technology that was developed by Japan’s Teijin frontier which uses DMT for chemical recycling by decomposing PET polyester and then polymerizing it.

It is a significant step as this method not only decomposes the polymer but also removes the dyes used in pet bottles and other impurities making the recycled product at par with that of newly produced.

  • In November 2022, Eastman announced to catalyze the polyester waste ecosystem with key recycling projects. Eastman’s PRT (Polyester renewal technology) will break down the polyester waste into DMT (Dimethyl Terephthalate) and ethylene glycol. The company would use this technology to recycle plastic waste, reduce its overall environmental impact and provide better-quality products for its customers.
  • In March 2021, SASA, a Turkish polyester manufacturer announced a US$ 300 Million investment in its new manufacturing plant in Adana which is set to be completed by the fourth quarter of 2023. This plant will increase the company’s overall production of PET to 330,000 tons, thus driving the demand for the DMT as raw material.

Segmentation of the Global Dimethyl Terephthalate Market:

By Form

  • Flake DMT
  • Liquid DMT
  • Oval DMT

By Application

  • Polyethylene Terephthalate
  • Polybutylene Terephthalate

By End User Industry

  • Food & beverages
  • Healthcare
  • Consumer Electronics
  • Packaging
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • A.B. Enterprises
  • Eastman Chemical Company
  • Fiber Intermediate Products Co.
  • JSC Mogilevkhimvolokno
  • Merck KGaA
  • Sarna Chemicals Pvt. Ltd.
  • SASA
  • SK Petrochemical Co., Ltd
  • TCI Chemicals
  • Teijin Ltd

- Frequently Asked Questions -

The global market is estimated at US$ 847 Million in 2023.

The global market size of Dimethyl Terephthalate is projected to witness a market size of US$ 1.2 Billion in 2033.

The CAGR growth of the Dimethyl Terephthalate market from 2018 to 2022 is 4.3%

The market is projected to grow at a CAGR of 3.4% from 2023 to 2033.

The market in the United States is projected to reach a valuation of US$ 200.9 Million and is expected to grow at a 3.1% CAGR from 2023 to 2033.

TCI Chemicals, Teijin Ltd., Merck KGaA, Eastman Chemical Company, A.B Enterprises, SK Petrochemicals Co., Ltd., SASA polymers, Fiber Intermediate Product Co, Liaoyang Petrochemical Co, Mogilevkhimvolokno JSC, Oxxynova, Petrobrazi, Petrocel SA, Teijin Ltd, Yambolen AD, etc.

Google translate