Global Ortho-xylene Market 2017-2021
Xylenes are petrochemicals, which are produced during the manufacturing of coke fuel through catalytic reforming and coal carbonization processes. Generally, xylenes are mainly produced as a part of the benzene, toluene, xylene (BTX) aromatics. It is extracted from the product known as reformate. Ortho-xylene is one among the three product types of xylenes. Ortho-xylene is the commercial form of xylene isomer with two methyl substituents bonded to the aromatic ring. It is extracted from para-xylene production process through distillation.
Technavio’s analysts forecast the global ortho-xylene market to grow at a CAGR of 6.73% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global ortho-xylene market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ortho-xylene Market 2017-2021
Technavio recognizes the following companies as the key players in the global ortho-xylene market: Braskem, Formosa Chemicals & Fibre, Reliance Industries, Royal Dutch Shell, and US Petrochemical.
Other Prominent Vendors in the market are: China National Petroleum, LOTTE CHEMICAL, MP Biomedicals, Nutan Chemicals, PTT Global Chemical, Sigma-Aldrich, and Tokyo Chemical Industry.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is surge in pricing margin. Phthalic anhydride price margins have surged in 2016 as compared with past five years. This is due to surge in demand for phthalic anhydride to make di-octyl phthalate (DOP). Moreover, the margins are mostly in negative since 2012 and flipped to positive from 2016.”
According to the report, one driver in the market is increased demand from automobile industry. The global automobile industry has witnessed a significant growth in past two decades. Ortho-xylene is used in insulation, sealing, bonding, and coating of different automotive parts such as engine, drive train, electrical system, electronics, interior, and body. The use of ortho-xylene in automotive coatings is gaining popularity in automobiles and transportation industries due to its durability, sustainability, resistivity, safety, performance, efficiency, and cost-effectiveness. This increased demand from the automobile industry is driving the global ortho-xylene market.
Further, the report states that one challenge in the market is logistical concern related to hazardous chemicals. Safe transportation of hazardous chemicals such as ortho-xylene across the globe is one of the biggest concerns. The growth of the chemical industry has led to an increase in the safety concerns of chemical logistics as freight traffic has witnessed a sharp increase. The shortage of untrained professionals for handling the packaging and transportation of hazardous chemicals and the lack of awareness about new and emerging trends and technologies are some of the major drawbacks witnessed globally.
Braskem, Formosa Chemicals & Fibre, Reliance Industries, Royal Dutch Shell, and US Petrochemical, China National Petroleum, LOTTE CHEMICAL, MP Biomedicals, Nutan Chemicals, PTT Global Chemical, Sigma-Aldrich, and Tokyo Chemical Industry.
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