Global Dimethyl Terephthalate (DMT) Market - Segmented by Product Form, Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The Dimethyl Terephthalate (DMT) market is estimated to witness robust growth during the forecast period. In terms of consumption, Asia-Pacific is projected to continue dominating the market, registering highest growth during the forecast period. DMT is used mainly to produce polyester fibers, resins, films and engineering polymers. DMT is extensively used in the production of Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) polymers. Hence, the increasing demand for Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) polymers is expected to drive the demand for DMT during the forecast period.
Increasing PET & PBT Demand
PET polymer is also known as reactor-grade polyester or PET melt-phase resin, which is widely used for producing polyester films & fibers, and solid-state bottle-grade resins. PET engineering resins are produced not only from melt-phase PET, but also from recycled postconsumer and postindustrial materials. Whereas, PBT is a thermoplastic engineering polymer which is used as an insulator in the electrical & electronics industry. PBT demand has also been increasing from the automotive industry for substituting replaceable metal parts owing to rising demand for lightweight vehicles. Besides this, PBT fiber is also used in toothbrushes, false eyelashes, etc. The increasing demand for PET polymer for use in packaging of products, such as food, beverages, cosmetic, pharmaceuticals, household chemicals and toiletries; producing both food and non-food films; production of credit & debit cards; etc. is further driving the demand for DMT for producing PET polymer. Besides this, the increasing production of automotive parts; and electrical and electronic devices, such as computers, keyboards, etc., is increasing the demand for PBT, which is further increasing demand for DMT to produce PBT polymer.
PET serves as a Major Application
Among various applications, the major application of DMT serves to be in the production of PET resin and polymer. The application of PET has been increasing in various end-user industries, such as, packaging, construction, electronics, and automotive. The increasing demand for flexible packaging is further driving the demand for PET. Thus, with the rising PET demand from such industries, the production of PET is also projected to increase, which is likely to drive the demand for DMT in the coming years.
Asia-Pacific to Witness Highest Growth
Asia-Pacific is expected to dominate the market during the forecast period. Along with this, the region is also projected to witness highest growth, owing to the strong economic growth, increasing industrial output and investment attractiveness of the region. Investment attractive emerging economies, like China, India, Indonesia, etc. in the region, along with Japan, and the increasing output in various end-user industries, such as automotive, electrical & electronics, food & beverage, and pharmaceutical industry has been substantially adding to the demand for PET and PBT. Thus, with the increasing demand for such polymers, DMT demand is projected to witness strong growth in the region during the forecast period.
Major Players: A.B. Enterprises, Eastman Chemical Company, JSC Mogilevkhimvolokno, Teijin Ltd., and Oxxynova GmbH, amongst others.
Reasons to Purchase this Report
To understand the impact of increasing PET demand on the dimethyl terephthalate market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating application in the dimethyl terephthalate market
Region & countries expected to witness fastest growth during the forecast period.
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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