Global Dimethyl Terephthalate Market Set to Reach USD 2,131.2 million by 2034

Dimethyl Terephthalate

The global dimethyl terephthalate (DMT) market, valued at USD 1,143 million in 2023, is on a robust growth trajectory. Over the forecast period, the market is projected to expand at a compound annual growth rate (CAGR) of 5.9%, with the industry value expected to surge from USD 1,202.5 million in 2024 to USD 2,131.2 million by 2034. This remarkable growth is driven by increased demand across various segments, especially in the solid segment, which is anticipated to grow at a CAGR of 6%.

Dimethyl terephthalate (DMT) is a key intermediate used in the production of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT). These polymers are crucial in various applications such as packaging, textiles, and consumer electronics due to their excellent properties like strength, durability, and recyclability.

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Key Takeaways

  • The global DMT market is expected to grow from USD 1,202.5 million in 2024 to USD 2,131.2 million by 2034.
  • The solid segment will be a significant driver, growing at a CAGR of 6%.
  • Increased usage of PET and PBT in packaging, textiles, and electronics will bolster demand.
  • Innovation and sustainability efforts are creating new growth opportunities in developing regions.

Regional Analysis

East Asia: Dominance in DMT Market

East Asia is poised to dominate the global DMT market, holding approximately 36% market share by 2034. The region’s key end-use industries, such as textiles, packaging, and consumer electronics, are experiencing robust growth. Merger and acquisition activities, along with significant investments in research and development, are further propelling market expansion.

China: Leading the Charge for Sustainable Packaging

China’s DMT market is forecasted to reach USD 644.4 million by 2034, growing at a CAGR of 7.2%. The thriving textile and fiber sectors, coupled with rising demand for packaging materials and consumer electronics, are key growth drivers. The country’s commitment to sustainable packaging solutions is also contributing to this positive outlook.

India: Rising Demand for Consumer Electronics

India is emerging as a significant player in the DMT market, with an expected market size of USD 292.4 million by 2034 and a CAGR of 6.3%. The well-established textile and packaging sectors and the growing middle-class population driving consumer electronics demand are major factors fueling growth. Government initiatives like ‘Make in India’ are also attracting investments in the chemical sector.

Japan: Ensuring Supply Chain Stability

Japan’s advanced technology and expertise in chemical manufacturing ensure high-quality DMT production, contributing to supply chain stability. The country’s strong presence in consumer electronics, packaging, and textile industries offers a substantial domestic market for DMT products. Japan’s market is projected to reach USD 111.1 million by 2034, growing at a CAGR of 6.1%.

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Driving Factors for Growth

Increasing Demand for PET Packaging

The rising demand for PET packaging, known for its environmentally friendly attributes and recyclability, is a significant growth driver for the DMT market. PET made from DMT is increasingly used across various industries, enhancing brand image and customer confidence in sustainable practices.

High Demand for Electrical Components

The electronics and electrical industries’ increasing consumption of PBT, derived from DMT, is another critical factor. PBT’s exceptional performance characteristics make it ideal for manufacturing electrical connectors, insulators, switches, and other components, driving demand in the automotive, electronics, and telecommunications sectors.

Integration Strategies by Manufacturers

Manufacturers are increasingly focusing on backward and forward integration to enhance their competitive edge. Backward integration involves controlling raw material production, ensuring supply chain stability, and reducing reliance on external suppliers. Forward integration includes investments in PET resin production and finished product manufacturing, allowing manufacturers to capture a larger share of the value chain and increase product variations.

Leading Dimethyl Terephthalate Brands

  • Eastman Chemical Company
  • Connect Chemicals
  • OAO Mogilevkhimvolokno
  • Fiber Intermediate Product Company
  • TCI Chemicals
  • Tejin Ltd
  • SK Petrochemical Co.
  • Sarna Chemicals Pvt Ltd
  • Merck KGaA
  • Kanto Chemicals
  • Kishida Chemicals
  • Indian Oil (Bongaigaon Refinery)
  • Haihang Industry Co. Ltd
  • Oxxynova

Key Segments of Market Report

By Form:

Based on form, the industry is bifurcated into solid and liquid.

By Application:

The industry is segmented into polyethylene terephthalate and polybutylene terephthalate by application.

By End-use:

In terms of end-use, the industry is segregated into textile and fiber, packaging, consumer electronics, and others.

By Region:

Information about key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and the Middle East and Africa is given.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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