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.
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.
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
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
Global Dimethyl Terephthalate Market: Research Scope
Global Dimethyl Terephthalate Market, by Form
Global Dimethyl Terephthalate Market, by Application
- Polyethylene Terephthalate (PET)
- Polybutylene Terephthalate (PBT)
- Others (Biodiesel, etc.)
Global Dimethyl Terephthalate Market, by End-use Industry
- Electrical & Electronics
Global Dimethyl Terephthalate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.