Dimethyl Terephthalate Market Features of Investment Opportunities, Market Share & Future Trends to 2027 | SK Innovation Co. Ltd., Artenius Turkpet, Cepsa Quimica, AB Enterprises and more

Market Size - USD 771.0 million in 2018, Market Growth - CAGR of 4.3%, Market Trends - Increasing demand from the APAC region

The global dimethyl terephthalate market is expected to reach USD 1.14 Billion by 2027, according to a new report by Reports and Data. The growth of the dimethyl terephthalate market is primarily owing to the increasing application of this organic compound, especially in the production of polyethylene terephthalate.

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In market segmentation by manufacturers, the report covers the following companies:

SK Innovation Co. Ltd., Artenius Turkpet, Cepsa Quimica, AB Enterprises, Eastman Chemical Company, Teijin Ltd., Oxxynova GmbH, Sinopec Limited, SASA, Bongaigaon Refinery & Petrochemicals Ltd., and Petrocel SA, among others.

For the purpose of this report, Reports and Data have segmented the global dimethyl terephthalate market on the basis of product type, application, distribution channel, and region:

Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Solid Dimethyl Terephthalate
Liquid Dimethyl Terephthalate

Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Polyethylene Terephthalate (PET)
Polybutylene Terephthalate (PBT)
Others

Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Direct Sales
Indirect Sales

Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
North America
Europe
Asia Pacific
Latin America
MEA

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Dimethyl terephthalate finds application in the modification and improvement of polymer materials. It is deployed to produce esters that are utilized as plasticizers. Products such as polyester polyols, polyester resins, anhydrides, dyes and pigments, and insect repellents possess these plasticizers. Moreover, it is an elementary material in making several beneficial thermoplastics, X-ray, and video films, along with electrical capacitors.

Approximately all dimethyl terephthalate produced across the globe is consumed in the production of polyethylene terephthalate (PET). PET plastics are the most preferred materials in the packaging industry. It is extensively deployed for packaging of various food and beverage products owing to its lightweight, durable, impact-resistance, and hygienic properties, as well as it maintains the freshness of the products. It is predominantly consumed in the packaging of drinking water and carbonated soft drinks, and hence a significant share of PET resins is utilized in the production of PET bottles. This plastic is considered an exceptional barrier material that prevents the transfer of chemicals, making it most appropriate for the food & beverage and cosmetics industry. Additionally, these bottles find extensive usage in various consumable products, including detergents, alcoholic beverages, medicines, and personal care products & cosmetics.

Further key findings from the report suggest

By product type, solid dimethyl terephthalate contributed to the largest market share in 2018.

By distribution channel, online sales channel dominated the market in 2018 and is forecasted to grow at a rate of 4.8% in the period 2019-2026. Online sales channel helps the market players to have access to a broader market irrespective of whether they have physical presence in that region or not.

The market in the Asia Pacific region dominated the market in 2018 and is likely to grow at a rate of 4.9% in the forecast period. The market dominance of the APAC region is attributed to the increasing industrialization, strong economic growth, and growing investment activities in developing countries, including India, and China, among others. Also, the rising demand from the end-user industries like the automotive, food & beverage, electrical & electronics, and pharmaceutical industry is driving the market growth in the region.

By application, polyethylene terephthalate (PET) held the largest market share in 2018 and is estimated to grow at a rate of 3.6% in the forecast period. Polyethylene terephthalate (PET) is the thermoplastic with the most extensive application across the globe, and it is the most preferred solution for the packaging of consumable products. Moreover, fabrics made from PET are durable and flexible, and when combined with materials such as cotton, can decrease shrinking, wrinkling, and makes it tear-resistant.

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Major selling points of this research report

Gives the reader a holistic comprehension of the global market
Identifies the recent trends and estimated growth rate for the forecast duration
Helps industry experts, investors, and other participants implement lucrative expansion approaches
Provides accurate market insights to take informed decisions through presentations and other tools
Outlines the competitive landscapes with the individual market share of top vendors

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This release was published on openPR.