The Dimethyl Terephthalate Market size is forecast to reach $920 million by 2027, after growing at a CAGR of 4.5% during 2022-2027. Dimethyl terephthalate, also known as dimethyl 1, 4-benzene dicarboxylate is used as a feedstock in the production of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT). One of the major factors driving the market is the rising demand for Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT). In addition, the development of bio-based DMT is creating opportunities for the dimethyl terephthalate market. The consumption of bottled water, Soft drinks, and other premium beverages has increased massively worldwide during the last decade and thus the dimethyl terephthalate market is anticipated to substantially grow during the forecast period.
The report: “Dimethyl Terephthalate Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the dimethyl terephthalate industry.
According to the United States International Trade Commission, the total exports of electronic products grew by $7.9 billion (3 percent) to $268 billion in 2017 in the United States., which acts as a driver for the dimethyl terephthalate market during the forecast period. According to the Department for International Trade, The electronics sector is worth £16 billion every year to the UK economy. The UK is the largest European market for high-end consumer electronics products with about 18,000 UK based companies. According to Invest India, the Consumer Electronics and Appliances Industry in India is expected to become the fifth-largest in the world by 2025. By 2025, India could create a digital economy of $800 billion to $1 trillion, and India’s digital economy could fuel 18-23% of overall economic activity by 2025. And since dimethyl terephthalate is often used for manufacturing consumer electronic products, it acts as a driver for the dimethyl terephthalate market during the forecast period.
The food processing industry is increasing in various regions. With the increasing food industry, the demand for dimethyl terephthalate will also increase for food packaging as dimethyl terephthalate is a feedstock for polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) production. According to the United States Department of Agriculture (USDA), in 2018, Canada’s total food and beverage industry sector sales reached $87 billion. According to the International Trade Administration (ITA), Russia has the eighth largest market for packaged food products with 27.5 million tons of trade volume. The demand for packaged products in Russia is expected to increase and reach 29 million tons by 2020. In 2018, total processed food production in Ukraine was $15 billion and the processed food exports reached $9.4 billion, accounting for 50 percent of Ukraine’s agricultural products and processed food exports. In 2017, the packaging material production industry represented 1.7 percent of Mexico’s GDP, 5.8 percent of the industrial sector GDP, and 8.5 percent of manufacturing GDP. In 2017, Mexico produced 11.9 million tons of packaging containers and packaging materials with a value of USD 14.6 billion. Thus, the rising food processing sector is increasing the demand for dimethyl terephthalate in various regions, which act as a driver for the dimethyl terephthalate market.
This chemical is considered hazardous by the 2012 OSHA Hazard Communication Standard (29 CFR 1910.1200). Studies have indicated that dimethyl terephthalate (DMT) had an irritant action on the skin, eyes, and mucous membranes of laboratory animals. Limited Western studies suggested a more mild local action. Guinea-pig studies involving repeated application to the skin of a dilute solution found no evidence of sensitizing potential. Repeated administration in the diet of rats produced urinary tract stones and associated tissue changes. Limited information from repeated inhalation studies conducted in the West suggests low toxicity in laboratory animals whereas in Soviet studies toxic effects on multiple organs have been claimed. All these factors may act as a restrain for dimethyl terephthalate market growth.
The COVID-19 pandemic outbreak has impacted the imports and exports of dimethyl terephthalate globally. Governments of various countries have imposed export restrictions on commodities which are significantly disrupting the supplies. Also, the dimethyl terephthalate manufacturers are facing issues such as delays in receiving raw materials, which is further resulting in delayed shipments to the customer. In addition, the quality of some raw materials has declined considerably and the shipments' orders are being heavily affected due to the non-availability of vessels and blank sailing, which is heavily affecting the dimethyl terephthalate market growth.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the dimethyl terephthalate market. In 2019, the market of dimethyl terephthalate has been consolidated by the top five players accounting for xx% of the share. Major players in the dimethyl terephthalate market are 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, and Teijin Ltd.
This product will be delivered within 2 business days.
Report Coverage
The report: “Dimethyl Terephthalate Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the dimethyl terephthalate industry.
- By Form: Flake DMT, Liquid DMT, Oval DMT
- By Application: Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT)
- By End-Use Industry: Food & Beverages, Healthcare, Consumer Electronics, Packaging, and Others
- By Geography: North America, South America, Europe, Asia Pacific, and RoW
Key Takeaways
- Asia-Pacific dominates the dimethyl terephthalate market, owing to the increasing food packaging industry in the region. China’s food processing industry continued to grow in 2017. Revenue climbed to $1.47 trillion, an increase of 6.3 percent compared with the previous year. With the increasing food processing industry, the demand for packaging is also increasing, which is driving the dimethyl terephthalate market growth.
- The DMT intermediate product is manufactured by joint oxidation of a mixture containing predominantly p-xylene and p-toluene acid methyl ester (p-TE) in a liquid phase with a gas containing oxygen. The acids produced then undergo methyl-esterification.
- PBT is widely used as an insulator in the electrical and electronics industry. Its demand is increasing from the automotive industry for substituting replaceable metal parts, owing to the rising demand for lightweight vehicles. Besides this, PBT fiber is also used in toothbrushes, false eyelashes, and more.
- 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 and debit cards and more is further driving the demand for dimethyl terephthalate for producing PET polymer.
- The availability of cost-effective substitutes like purified terephthalic acid may hinder the growth of the dimethyl terephthalate (DMT) market during the forecast period.
- Due to the COVID-19 Pandemic, most of the countries have gone under lockdown, due to which operations of various industries such as packaging have been negatively affected, which is limiting the dimethyl terephthalate market growth.
- By Applications - Segment Analysis
- By End-Use Industry - Segment Analysis
- By Geography - Segment Analysis
Drivers - Dimethyl Terephthalate Market
Increasing Consumer Electronics Industry
According to the United States International Trade Commission, the total exports of electronic products grew by $7.9 billion (3 percent) to $268 billion in 2017 in the United States., which acts as a driver for the dimethyl terephthalate market during the forecast period. According to the Department for International Trade, The electronics sector is worth £16 billion every year to the UK economy. The UK is the largest European market for high-end consumer electronics products with about 18,000 UK based companies. According to Invest India, the Consumer Electronics and Appliances Industry in India is expected to become the fifth-largest in the world by 2025. By 2025, India could create a digital economy of $800 billion to $1 trillion, and India’s digital economy could fuel 18-23% of overall economic activity by 2025. And since dimethyl terephthalate is often used for manufacturing consumer electronic products, it acts as a driver for the dimethyl terephthalate market during the forecast period.
Increasing Food Processing Sector
The food processing industry is increasing in various regions. With the increasing food industry, the demand for dimethyl terephthalate will also increase for food packaging as dimethyl terephthalate is a feedstock for polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) production. According to the United States Department of Agriculture (USDA), in 2018, Canada’s total food and beverage industry sector sales reached $87 billion. According to the International Trade Administration (ITA), Russia has the eighth largest market for packaged food products with 27.5 million tons of trade volume. The demand for packaged products in Russia is expected to increase and reach 29 million tons by 2020. In 2018, total processed food production in Ukraine was $15 billion and the processed food exports reached $9.4 billion, accounting for 50 percent of Ukraine’s agricultural products and processed food exports. In 2017, the packaging material production industry represented 1.7 percent of Mexico’s GDP, 5.8 percent of the industrial sector GDP, and 8.5 percent of manufacturing GDP. In 2017, Mexico produced 11.9 million tons of packaging containers and packaging materials with a value of USD 14.6 billion. Thus, the rising food processing sector is increasing the demand for dimethyl terephthalate in various regions, which act as a driver for the dimethyl terephthalate market.
Challenges - Dimethyl Terephthalate Market
Health Hazards Related to The Dimethyl Terephthalate Market
This chemical is considered hazardous by the 2012 OSHA Hazard Communication Standard (29 CFR 1910.1200). Studies have indicated that dimethyl terephthalate (DMT) had an irritant action on the skin, eyes, and mucous membranes of laboratory animals. Limited Western studies suggested a more mild local action. Guinea-pig studies involving repeated application to the skin of a dilute solution found no evidence of sensitizing potential. Repeated administration in the diet of rats produced urinary tract stones and associated tissue changes. Limited information from repeated inhalation studies conducted in the West suggests low toxicity in laboratory animals whereas in Soviet studies toxic effects on multiple organs have been claimed. All these factors may act as a restrain for dimethyl terephthalate market growth.
Covid-19 Impact on The Dimethyl Terephthalate Market
The COVID-19 pandemic outbreak has impacted the imports and exports of dimethyl terephthalate globally. Governments of various countries have imposed export restrictions on commodities which are significantly disrupting the supplies. Also, the dimethyl terephthalate manufacturers are facing issues such as delays in receiving raw materials, which is further resulting in delayed shipments to the customer. In addition, the quality of some raw materials has declined considerably and the shipments' orders are being heavily affected due to the non-availability of vessels and blank sailing, which is heavily affecting the dimethyl terephthalate market growth.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the dimethyl terephthalate market. In 2019, the market of dimethyl terephthalate has been consolidated by the top five players accounting for xx% of the share. Major players in the dimethyl terephthalate market are 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, and Teijin Ltd.
This product will be delivered within 2 business days.
Table of Contents
1. Dimethyl Terephthalate Market- Market Overview
2. Dimethyl Terephthalate Market- Executive Summary
3. Dimethyl Terephthalate Market- Landscape
4. Dimethyl Terephthalate Market- Market Forces
5. Dimethyl Terephthalate Market -Strategic analysis
6. Dimethyl Terephthalate Market- By Form (Market Size -$Million)
7. Dimethyl Terephthalate Market- By Application (Market Size -$Million)
8. Dimethyl Terephthalate Market- By End-Use Industry (Market Size -$Million)
9. Dimethyl Terephthalate Market - By Geography (Market Size -$Million)
10. Dimethyl Terephthalate Market- Entropy
11. Dimethyl Terephthalate Market Company Analysis
Methodology
LOADING...