Dimethyl Terephthalate Market- Trend Analysis and Applications

  • Dimethyl Terephthalate:  Introduction

    • Dimethyl terephthalate is the primary monomer used in the manufacture of polyethylene terephthalate and polybutylene terephthalate polymers. It possesses properties such as low reaction temperature, high purity, excellent thermal resistance, and high additive dispersion. Thus, dimethyl terephthalate is an ideal material in the manufacture of terephthalate-based polymers. Additionally, dimethyl terephthalate is often used in the manufacture of industrial plastics. It is also employed as an intermediate in the manufacture of herbicides, paints, inks, and adhesives.
    • Dimethyl terephthalate is commonly produced by oxidation and esterification of paraxylene. Methanol, another raw material, is also used in the manufacture of dimethyl terephthalate.

    Key Drivers of Dimethyl Terephthalate Market

    • Increase in demand for bottled water and ready-to-eat food products have boosted the production of plastics such as films and bottles. Polyethylene terephthalate possesses attributes such as high clarity, low permeability, excellent printability, and recyclability. Therefore, it is increasingly used in the formulation of flexible packaging films, beverage bottles, etc. This is expected to drive the demand for dimethyl terephthalate in the production of polyethylene terephthalate.
    • Growth in population and increase in demand for raw materials such as minerals, fossil fuels, and biomass have adversely affected the environment, primarily the biodiversity. Furthermore, changes in the Earth’s climatic condition has led to an increase in emission levels of carbon dioxide across the globe. These factors have created an imbalance in the ecosystem, thereby giving rise to a move toward eco-friendly products. This has led to an increase in research and development for the manufacture of biomass-based dimethyl terephthalate.

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    Impact of COVID-19 on Global Dimethyl Terephthalate Market

    • The dimethyl terephthalate market is directly linked with the consumption of polyethylene terephthalate and polybutylene terephthalate. These are the major shareholders of global consumption of dimethyl terephthalate. The spread of the coronavirus disease across the globe led to closure of manufacturing sites of polyethylene terephthalate in the first quarter of 2020. Additionally, acceleration in U.S.-China trade war as well as increasing delay in procurement of raw materials such as methanol and dimethyl terephthalate are likely to adversely affect the global demand for polyethylene terephthalate. This, in turn, is estimated to adversely affect the global dimethyl terephthalate market in the near future.
    • Indorama Ventures Public Company Limited is using polyethylene terephthalate bottles for the manufacture of personal protective equipment (PPE) suits in order to combat the widespread of the COVID-19 pandemic. This is driving the demand for dimethyl terephthalate during the pandemic.

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    Asia Pacific to Hold Major Share of Global Dimethyl Terephthalate Market

    • In terms of region, the global dimethyl terephthalate market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
    • Asia Pacific is a leading consumer of dimethyl terephthalate. High share of the region can be ascribed to growth in population and rise in disposable income of the people in the region. Furthermore, rapid urbanization and fast-paced lifestyles are likely to boost the consumption of ready-to-eat foods in the near future. These factors are expected to drive the production as well as consumption of films, juice bottles, and bottled water made of polyethylene terephthalate. Increase in consumption of polyethylene terephthalate across the region is anticipated to boost the production of dimethyl terephthalate, due to its excellent adhesion ability and purity.
    • Manufacturers of dimethyl terephthalate based in North America are engaged in increasing the purity of their existing product lines through extensive research & developments and technological advancements
    • Rise in import of dimethyl terephthalate in Latin America and Middle East & Africa due to its excellent thermal resistance, high purity, and high additive dispersion ability is estimated to boost the demand for dimethyl terephthalate in these regions

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    Key Players Operating in Market

    The global dimethyl terephthalate market is highly concentrated, with leading producers accounting for major share. Key players operating in the global dimethyl terephthalate market include:

    • SASA Polyester Sanayi A.?.
    • SK Chemicals co. ltd
    • Eastman Chemical Company
    • Fiber Intermediate Products Co.
    • JSC Mogilevkhimvolokno