Dimethyl Terephthalate Market Trends

Growth Drivers

Growing Demand for Flexible Packaging- DMT-derived PET films and pouches are commonly used in flexible packaging. Therefore, the rising use of flexible packaging material will increase the need for PET. The head of global packaging service, Dominic Cakebread stated that flexible and rigid plastics accounts for the total packaging market.
Rising Demand for Apparel– DMT is also used in the manufacturing of synthetic fibers, such as polyester for shoes and clothes since the textile industry relies heavily on polyester fibers. Global consumer sales of clothes and footwear surpassed USD 1.5 trillion in 2022.
Increasing Preference for Sustainability– PET, the major output of DMT is highly recyclable and it can be processed and used in different applications. United Nations has adopted the 2030 Agenda for Sustainable Development, which includes, clean energy, green infrastructure, sustainable materials, and responsible production.

Challenges

Rising Shift Towards Bio-Based Alternatives- As sustainability becomes a priority, the market has seen a shift towards bio-based polymers derived from renewable resources. This trend poses a challenge a traditional DMT production, requiring adaptation to new technological processes.
Strict Regulatory Compliance for the Chemical Industry
Rising Concern for Plastic-Waste Generation

Dimethyl Terephthalate Market: Key Insights

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	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

Increasing production of polyester fibers, and growing consumption of PET containers are the major factors driving the market growth.

The market size of dimethyl terephthalate is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 â€“ 2035.

The major players in the market are Indorama Ventures, SABIC, Farmosa Chemicals & Fiber Corporation, Alpek, Reliance Industries Limited, Eastman Chemical Company, SK Chemicals, SASA Polyester Sanayi A.S., INVISTA, and Fiber Intermediate Products Company.

The polyethylene terephthalate segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

Dimethyl Terephthalate Market Trends