Dimethyl Terephthalate Market Size, Share
The global is expected to be valued at USD 1.14 Billion in 2027 from USD 771.0 Million in 2018, registering a CAGR of 4.3% through the forecast period. Dimethyl terephthalate (DMT) is a primary component used in the production of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) for various films, plastic containers, and specialty plastics. It is extensively used in industrial plastics production and is often used as an intermediate in the production of paints, varnishes, inks, adhesives, and herbicides. Dimethyl terephthalate is produced through the esterification and oxidation of paraxylene, and it uses methanol as the primary raw material during production. The most significant properties of DMT are high purity, robust thermal resistance, high additive dispersion, and low reaction temperature.
The global dimethyl terephthalate market is expected to register a substantially high CAGR over the projected period, owing to several growth-inducing factors. The increasing applications of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) to manufacture plastic products, such as bottles, and containers, significantly propel the global market growth. Dimethyl terephthalate is extensively used to produce esters, polyester resins, polyester polyols, anhydrides, insect repellents, and dyes & pigments. It is also utilized in the manufacture of thermoplastics, such as X-ray and video films.
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Key findings of the report:
· Of the various product types, the solid dimethyl terephthalate sub-segment accounts for the global dimethyl terephthalate market’s largest revenue share. On the other hand, the polyethylene terephthalate (PET) application sub-segment is projected to hold the largest market share over the forecast period, registering a CAGR of 3.6%. Polyethylene terephthalate (PET) is the most extensively used thermoplastic. It is most widely used for the packaging of commonly used consumer products like bottles and containers. Moreover, it is used in the textiles industry for the manufacture of highly flexible and durable fabrics.
· Among the key regional markets, the dimethyl terephthalate market in the Asia Pacific region emerged as the leading regional market in 2019 and is projected to register the fastest CAGR of 4.9% over the forecast period. Fast-paced industrialization, rising PET applications in the packaging of food & beverage and consumer electronic products, the region’s growing industrial output, and extensive usage of PET in the pharmaceutical industry are the pivotal factors leading to the market growth in this region. The emerging economies of India and China act as the key contributors to the regional market growth.
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