The dimethyl terephthalate (dmt) market is forecast to grow at a CAGR of 0.8%, reaching USD 896.5 million in 2031 from USD 861.3 million in 2026.
Prominent drivers, such as the rising demand for polyethylene terephthalate (PET) products, especially from the packaging industry, are propelling the dimethyl terephthalate (DMT) market expansion. Polyethylene terephthalate finds its application due to its durability, lightweight, and recyclability. It is widely used in manufacturing plastic bottles, films, and fibers.
Further, DMT is used for polyester fibers, which are used in synthetic materials and are less expensive than natural fibers. Due to the expansion of the global textile industry, the demand for polyester fibers is driving the need for DMT. Additionally, with the growing automotive industry worldwide, the application of DMT for polyester resins and fibers in the body parts of vehicles will also expand.
According to WITS (World Integrated Trade Solution), in 2021, the top importers of Dimethyl terephthalate are Luxembourg, which imported 67,202,800 Kg, China with 29,626,100 Kg, and Japan with 23,845,600 Kg. The Netherlands and France imported 11,209,200 Kg and 8,810,590 Kg, respectively.
In China, chemical fiber output growth rate increased in 2023 compared to 2022. According to the National Bureau of Statistics, the output of chemical fibers in 2023 totaled 68.72 million tons, witnessing growth of 8.5%. Major products manufactured in the country included textile yarns, fabrics, etc.
Growing demand for polyethylene terephthalate (PET) and polybutylene terephthalate (PBT)
PET is made by polymerizing ethylene glycol with terephthalic acid or transesterification with dimethyl terephthalate. The increasing demand for PET would lead to the growing application of dimethyl terephthalate. PET plastics have increased significantly over the past few years, replacing glass and PVC. In February 2023, SUEZ, Loop Industries, and SK Geo Centric announced the selection of Saint-Avold, France, as the site to manufacture virgin-quality PET plastic made from 100% recycled content. The facility would manufacture 100% recycled and infinitely recyclable virgin-quality polyethylene terephthalate (“PET”) resin and has a capacity of 70,000 metric tons per year.
Further, in February 2024, Mitsubishi Chemical Group developed the ZR Series of NOVADURAN PBT resin, a foaming grade with ultra-low specific gravity. The ZR Series is a new grade having rigid fiber-reinforced engineering plastic. These polymers are used to produce plastics, textiles, bottles, and packaging products. The increased application of polyethylene terephthalate and polybutylene terephthalate would lead to the demand for DMT.
Rising demand for plasticizers
Plasticizers are used in the industry to increase the workability, flexibility, and durability of polymers like PVC. It is used in industries such as automobiles, medical, and consumer goods. Plasticizers are one of the major chemicals. However, a trend toward sustainability and eco-friendly materials is significantly impacting the demand for polymer materials.
The dimethyl terephthalate (DMT) market is segmented into five regions worldwide
By geography, the dimethyl terephthalate (DMT) market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.
The Asia Pacific region is expected to see the fastest growth in the dimethyl terephthalate market due to its increasing applications in consumer electronics, automobiles, and the aerospace industry.
North America is also expected to have a significant market share for DMT due to its major utilization across various industries, such as polyethylene terephthalate and polybutylene terephthalate manufacturing.
Dimethyl terephthalate (DMT) market is segmented by form and application.
By Form, the market is segmented into flake (Solid) DMT and liquid DMT. Flake (Solid) DMT would witness demand due to its application in the fibers used in the manufacturing of yarns, ropes, seatbelts, and other industrial products. Liquid DMT demand would witness demand from the end-user industries like textile and chemical industries.
The prices of raw materials used in DMT production face price volatilities, which would impact the overall production costs and profit margins. Stringent environmental regulations concerning the production of DMT cause increased production costs and limit the market rise.
The DMT market leaders are Eastman Chemical Company, Merck KGaA, Tokyo Chemical Industry Pvt. Ltd., DDBST GmbH, Spida Group, and SK Chemicals, among others. These key players implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage.
In February 2023, RePEaT Co., Ltd. licensed its chemical recycling technology for polyester products to Zhejiang Jianxin Jiaren New Materials Co., Ltd., as the world's first company to be licensed by RePEaT. RePEaT is a joint venture established by Teijin Limited, JGC Holdings Corporation, and ITOCHU Corporation to license recycling technology based on Teijin’s DMT expertise. It provides a technology that uses the organic compound DMT for the chemical decomposition and repolymerization of polyester (PET).
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Companies |
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The dimethyl terephthalate (DMT) market is analyzed into the following segments:
By Form
Flake (Solid) DMT
Liquid DMT
By Application
Polyester Film
Polyester Fiber
PET Resin
Other Applications (Including PBT)
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Middle East and Africa
Saudi Arabia
UAE
Rest of the Middle East and Africa
Asia Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Rest of Asia-Pacific