Global Xylene Market - Segmented by Type, Application, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The market for xylene is expected to register a significant growth during the forecast period, 2018 to 2023. This tremendous growth is significantly driven by the increasing demand from global paints and coatings industry.
High demand for Paraxylene in the Manufacture of Polyethylene Terephthalate (PET)
Most of the Para-xylene production is processed into terephthalic acid (TPA) and dimethyl terephthalate, which are the key intermediates in the manufacturing of Polyethylene terephthalate (PET). Demand for PET is rising along with polyester, food & beverage industries and also the augmenting use of bio-based PET products will drive the growth prospects for the global market in the forecast period. The significantly growing polyethylene terephthalate (PET) is instrumental in fuelling the growth of xylenes in the coming future.
Para Xylene Segment to Dominate the Market
Para Xylene segment holds the largest share of the global xylene market in 2017. Para-xylene is used as starting material to manufacture chemicals, which are used to make polyester fibers and polyethylene terephthalate (PET). Packing industry represents the major end-user segment for the para xylene market with the applications like mineral water and carbonated soft drink bottles. These xylenes also used in the manufacture of PTA (purified terephthalic acid), which is a basic petrochemical used in the textile industry for making polyester.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific represents the largest regional market of the global xylene market owing to the presence of dominant xylene producing refineries in the countries, like China. Major global corporations have increased investments and acquisitions in ASEAN countries. The increasing interest of big players in the Asia-Pacific is expected to significantly drive the market. The huge market size with the healthy growth rate is expected to further concrete the position of Asia-Pacific in the global xylene market in the coming years.
Key Developments in the Market
Jun 2017: RIL (Reliance Industries Limited) became second largest global producer of paraxylene by commissioning its last crystallization train of PX complex at Jamnagar f acility
May 2017: ExxonMobil Chemical Company entered into an agreement with Jurong Aromatics Corporation Pte Ltd to acquire one of world’s largest aromatics plants.
Major Players: Royal Dutch Shell Plc., Total SA, Exxon Mobil Corporation, DowDuPont, JX Nippon Oil & Energy Corporation, BP p.l.c, China Petroleum & Chemical Corporation and Braskem, amongst others.
Reasons to Purchase this Report
Analyze the current and future prospects of the global xylene market in the developed and emerging markets
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Information of the segment that is expected to dominate the market
Identify the region that is expected to witness 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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