Dimethyl Terephthalate Market to Witness Steady Growth through 2025

Dimethyl terephthalate, also known as dimethyl 1, 4-benzenedicarboxylate is used as a feedstock in production of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT). Dimethyl terephthalate also assists in production of other chemicals like benzocaine, terephthalohydroxamic acid, terephthaldehyde, and terephthalamide, etc. Dimethyl terephthalate plays a vital role in the manufacture of polyesters including polybutylene terephthalate (PBT) and polyethylene terephthalate (PET). Dimethyl terephthalate also finds use in the fabrication of polyester resins for varnishes, films, and adhesives.

The dimethyl terephthalate market has been gradually reducing over the span of last few years owing to the presence of substitutes which are more economical. Over 90% of global consumption of dimethyl terephthalate is in the production of Polyethylene Terephthalate (PET) chips.

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Global Dimethyl Terephthalate Market: Segmentation

Global dimethyl terephthalate market is segmented into manufacturing process, upstream products, downstream products, and region. On the basis of manufacturing techniques used for production of dimethyl terephthalate, the market is segmented into written process, and other processes. On the basis of upstream products, the global dimethyl terephthalate market is segmented into methanol, terephthalic acid, and xylenes-mixed xylenes etc. On the basis of downstream products, the global dimethyl terephthalate market is segmented into polybutylene terephthalate and polyethylene terephthalate. On the basis of regions, the global dimethyl terephthalate market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific (APEJ), Japan, and MEA.

Global Dimethyl Terephthalate Market: Regional Outlook

Asia-Pacific is anticipated to be the most important region with respect to Dimethyl terephthalate demand and production. The consumption of the dimethyl terephthalate has been declining globally since last few years. Japan is the most prominent country with the dimethyl terephthalate capacity accounting for more than half of the installed dimethyl terephthalate capacity in the Asia-Pacific region. Asia-Pacific is closely trailed by China and Korea in terms of dimethyl terephthalate capacity. Countries like China, Japan, and South Korea have the major share of production capacity in the Asia-Pacific region.

Global Dimethyl Terephthalate Market: Drivers

Polyethylene Terephthalate and Polyester represents the two major end-use industries for dimethyl terephthalate market. The high rate of demand from these segments especially in the Asia-Pacific region is expected to fuel growth of the global dimethyl terephthalate market. Moreover, the low feedstock prices are expected to drive the growth of the global dimethyl terephthalate market.

Global Dimethyl Terephthalate Market: Restraints

Global dimethyl terephthalate market production has become stagnant owing to the increasing competition from PTA-based polymers and purified terephthalic acid (PTA), thus hindering growth of the global market.

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Global Dimethyl Terephthalate Market: Key Players

Some of the major players identified in the global dimethyl terephthalate market are Teijin Limited, China Petroleum & Chemical Corporation, SK Innovation Co., Ltd., Cepsa Quimica, Bombay Dyeing & Maunfacturing Co Ltd – (BDMC), Artenius Turkpet, Invista, Bongaigaon Refinery & Petrochemicals Ltd – (BRPL), Eastman Chemical, Elana SA, Fiber Intermediate Product Co – (FIPCO), Liaoyang Petrochemical Co – (LYPC), Mogilevkhimvolokno JSC, Oxxynova, Petrobrazi, Petrocel SA, Teijin Ltd, Yambolen AD, etc.

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This release was published on openPR.