Dimethyl Terephthalate Market size is estimated to surpass USD 1.3 Billion by the end of 2035, witnessing around 5% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of dimethyl terephthalate was over USD 960 Million. The growth of the market can be attributed to the rising availability of feedstock. Para-xylene (PX), and purified terephthalic acid (PTA) are the main feedstock used for producing DMT. Both of these components are derived from fossil fuels, therefore, there is no chance of shortage and thus there is a huge availability of raw materials to produce DMT, which is pushing the market growth.
In addition to these, factors that are believed to fuel the market growth of dimethyl terephthalate are technological advancements in the procedure of producing products from dimethyl terephthalate such as PET, polymer fibers, and others.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~5% |
|
Base Year Market Size (2022) |
~ USD 960 Million |
|
Forecast Year Market Size (2035) |
~ USD 1360 Million |
|
Regional Scope |
|
Application (Polybutylene Terephthalate Resin, Polyethylene Terephthalate Resin)
The polyethylene terephthalate resin segment is estimated to hold about 60% share of the global dimethyl terephthalate market in the year 2035. The growth of the segment can be attributed to the rising use of DMT in the production of polyethylene terephthalate resin (PET resin)), which is used for the production of packaging materials, synthetic fibers, and different beverage containers. In addition to this, these synthetic fibers are used in apparel, home furnishing, textiles, and industrial textiles. The wide range of applications of polyethylene terephthalate resin is driving the growth of the segment.
End Users (Packaging, Construction, Electronics, Automobiles)
Dimethyl terephthalate market from the packaging segment is expected to garner a significant share of around 40% in the year 2035. The growing demand for plastic containers for packaging and rising consumption of packaged water bottles is expected to augment the growth of the segment. In the world, around 446 billion liters of water consumed through plastic bottles are used every year. Moreover, globally around 1 million water bottles are used every minute.
Our in-depth analysis of the global DMT market includes the following segments:
|
Form |
|
|
Application |
|
|
End User |
|
North American Market Forecast
The dimethyl terephthalate market in North America, is projected to be the largest with a share of about 34% by the end of 2035. The growth of the market can be attributed majorly to the rising public construction, such as highways, streets, roads, bridges, and others. It is expected that by 2027, around USD 153 billion worth of highways and streets will be developed in the United States. Furthermore, each and every house in the United States and Canada have thermostats, which often go through malfunction and increase the need for new components owing to these factors, the market is further expected to expand in the region.
APAC Market Statistics
The Asia Pacific dimethyl terephthalate market is estimated to be the second largest, registering a share of about 27% by the end of 2035. The growth of the market can be attributed majorly to the growing production of PET resin in the region. Throughout Northeast Asia, China alone possesses over 13.2 million tonnes, accounting for around 38% of the world's total PET resin capacity. Furthermore, growing investment in the infrastructure is also expected to boost the demand for dimethyl terephthalate.
Author Credits: Smruti Ranjan, Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?