Global Ortho-xylene Market - Segmented by Product, Application, and Geography – Growth, Trends, and Forecasts (2017 - 2022)
The global ortho-xylene market was valued at USD XX million by revenue and XX kilotons by volume in 2016 and is projected to register an estimated CAGR of XX% in terms of revenue, and XX% in terms of volume, during 2017-2022 (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.
Almost 90% of ortho-xylene (OX) produced, globally, is consumed during the production of phthalic anhydride (PA), which has uses in phthalate plasticizers, principally dioctyl phthalate (DOP), used to modify compound polymers, primarily polyvinyl chloride (PVC) resins; 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.
The growing construction industry, coupled with fast-paced development in the automobile industry, is expected to drive the demand for ortho-xylene, during 2017-2022 (the forecast period). Additionally, the growing paints and adhesive industries are expected to accelerate the demand for ortho-xylene, over the next few years. This forms the basis for market segmentation into paints, cosmetics, glass-reinforced thermosets and solvents like bactericides, soya bean herbicides and lube oil additives. However, acute inhalation or exposure to ortho-xylene in humans causes irritation to eyes and neurological effects. Furthermore, the chronic exposure of ortho-xylenes affects the central nervous system, cardiovascular, and kidneys, as it reacts violently with oxidants causing fire and explosion hazard. Thus, stringent regulations on the use of ethylene may act as a roadblock to the growth of the ortho-xylene market in near future.
AREAS WITH SCOPE FOR ORTHO-XYLENE
In 2016, 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, during 2017-2022 (the forecast period). 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.
NOTABLE DEVELOPMENTS IN THE MARKET
In Jul 2017, Reliance Industries Limited (RIL) announced the commissioning of its Jamnagar plant, making it the second-largest producer of para-xylene with about 11% of global production.
In May 2017, ExxonMobil chemical company reached an agreement to acquire aromatics plant of Jurong Aromatics Corporation Pte., Ltd., Singapore. Acquisition of this plant would increase the ExxonMobil’s Singapore aromatics production to over XX million mt/year.
Why purchase our Global Ortho-xylene Market Report?
Will the growing PVC plasticizers market accelerate the growth of ortho-xylene oxide market?
Know about: the latest regulations and policies associated with ortho-xylene oxide.
How will the emergence of new ethanol production process impact the ortho-xylene oxide market?
Analyzing various market perspectives with the help of porter’s five forces analysis
What would be the global impact of ExxonMobil’s acquisition on the ortho-xylene production?
Which of the regions will witness the fastest growth during forecast period?
Identify the latest developments, market shares, and strategies employed by the major market players, such as:
Creasyn Finechem (Tianjin) Co., Ltd.
Puritan Products, Inc.
Formosa Chemicals & Fiber Corporation
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