Global Ortho-Xylene Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global ortho-xylene market is expected to grow at a significant rate during the forecast period. The demand for ortho-xylene is driven by its usage involved in the production of phthalic anhydride that is used heavily in the manufacture of PVC plasticizers.
O-xylene is mainly used in the preparation of phthalic anhydride, which is an important raw material for the manufacture of a variety of dyes and indicators (such as phenolphthalein). Moreover, o-xylene can also be used for preparation of polyester resin, insect repellent, plasticizers and dyes.
Increasing Demand from Construction and Automobile Industries
The growing construction industry, coupled with fast-paced development in the automobile industry, is expected to drive the demand for ortho-xylene. The global construction sector is projected to expand in real terms by an annual average of 3.2% over the next decade, to a nominal value of more than USD 6.0 trillion. Asia-Pacific region will dominate the construction industry with growth in China, India and ASEAN countries. Additionally, the growing paints and adhesive industries are expected to accelerate the demand for ortho-xylene, over the next few years. China planned many infrastructural development projects, such as the One Belt One Road initiative, and infrastructural projects, such as the development of airports (new Beijing airport), roads (30,000 km of highways with bridges built or upgraded), 30,000 km of high speed rail covering, which are expected to cover more than 80 cities and 60% of the Chinese urban population. The Chinese automotive industry is the largest market, globally, with a y-o-y growth of 3.19% in 2017.
Phthalic Anhydride (PAN) to Dominate the Market
Almost 90% of ortho-xylene (OX) produced, globally, is consumed during the production of phthalic anhydride (PAN), which is used in phthalate plasticizers, principally dioctyl phthalate (DOP); used to modify compound polymers, primarily polyvinyl chloride (PVC) resins; and in unsaturated polyesters resins (UPRs) used in glass-reinforced thermoset engineering applications, such as construction, marine, and transportation; and in alkyd resins used mainly in solvent-based coatings for architectural, machinery, furniture, and fixture application.
Asia-Pacific to dominate the Ortho-Xylene Market
Asia-Pacific, led mainly by China, emerged as a major ortho-xylene consumer, responsible for more than half of the global consumption. The growing chemical industry and rapid industrialization in China are expected to boost consumption rate, which will make the country a leading consumer of ethylene oxide, globally. In India, Reliance Industries Limited leads the manufacturing segment of ortho-xylene with a capacity of 150 kiloton per annum. Consumption of ortho-xylene in the Eastern Europe and Russia is expected to be strong, due to the thriving construction industry.
Key Developments in the Market
June 2017: Reliance was pleased to announce the successful and flawless commissioning of the last crystallization train (Train 3) of the Para-xylene (PX) complex at Jamnagar. This plant is built with state-of-the-art crystallization technology from BP which is highly energy efficient. With the commissioning of this plant, RIL’s PX capacity has more than doubled making it world’s second largest producer of PX with about 11% of global production.
Major Players: Creasyn Finechem (Tianjin) Co., Ltd., Puritan Products, Inc., Sinopec, Formosa Chemicals & Fiber Corporation, Reliance Industries amongst others.
Reason to Purchase this Report
To understand the impact of various product type on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type, and application in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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