Analysis of Dimethyl Terephthalate Market Size by Research Nester Reveals the Market to Grow with a CAGR of around 5% During 2023-2035 and Attain Over USD 1360 Million by 2035

Research Nester assesses the growth and market size of the global dimethyl terephthalate market which is anticipated to be on account of the growing demand for plastic packaging followed by a rising focus on flexible packaging
New York – August 13, 2023- Research Nester’s recent market research analysis on “Dimethyl Terephthalate Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global dimethyl terephthalate market in terms of market segmentation by form, application, end users, and by region.
Growing Generation of PET Resin to Promote Global Market Share of Dimethyl Terephthalate
The global dimethyl terephthalate market is estimated to grow majorly on account of the PET derived from dimethyl terephthalate and ethylene glycol. PET has a wide range of applications in various industries, including beverage containers, food packaging, industrial textiles, textiles, electrical components, lightweight materials for automobiles, and others. Furthermore, the rapid shift towards environmentally friendly packaging is also driving the demand for PET. The concerns for a safe environment and rising regulatory compliances had driven focus towards sustainable packaging solutions such as PET. It can easily be recyclable and offer various benefits, such as a reduction in carbon footprint and resource efficiency.
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Some of the major growth factors and challenges that are associated with the growth of the global dimethyl terephthalate market are:
Growth Drivers:
• Growing Production of Textile Fabric
• Rising Need for Sustainable Products
Challenges:
Stringent regulations related to chemical production, safety, and environmental impact can create hurdles for DMT manufacturers, necessitating compliance and potentially leading to additional costs. Moreover, the ban on plastic across various nations by the government and the growing shift towards bio-based polymers are some of the major factors anticipated to hamper the global market size of dimethyl terephthalate.
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On the basis of end users, the global dimethyl terephthalate market is segmented into packaging, construction, electronics, and automobiles. The packaging segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. PET is the most commonly derived material from DMT, therefore rising demand for plastic packaging is expected to drive the need for producing more PET-based plastics. Furthermore, DMT is also used in manufacturing polyester fibers that are highly used in making some flexible and sustainable packaging items, which further contributes to segment growth.
By region, the market in Europe, amongst the market in all the other regions, is projected to hold a significant share by the end of 2035. The growth of the market can be attributed majorly to the growing focus on sustainability and the circular economy. Europe's governments as well as companies have taken steps to promote recycling and the use of PET plastic in order to reduce environmental stress. On the other hand, the rehabilitation of old electrical infrastructures is increasing the demand for electrical components and thus boosts the market growth in the region.
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This report also provides the existing competitive scenario of some of the key players of the global dimethyl terephthalate market which includes company profiling of Indorama Ventures, SABIC, Farmosa Chemicals & Fiber Corporation, Alpek, Reliance Industries Limited, Eastman Chemical Company, SK Chemicals, SASA Polyester Sanayi A.S., INVISTA, and Fiber Intermediate Products Company.
Access our detailed report at: https://www.researchnester.com/reports/dimethyl-terephthalate-dmt-market/5179
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