Global Paraxylene Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
The global paraxylene market is anticipated to witness an impressive growth rate of approx. 12.2% during the forecasted period 2016-2022. The global paraxylene market can be segregated on the basis of application including PTA, DME and other comprising herbicides and di-paraxylene. Amongst the, PTA dominates the global paraxylene market in the application segment with a market share of approximately 97% in 2014. The worldwide demand for PTA was approx. $60 million tons in 2014 in comparison to $54 million tons in 2013. It is primarily use in the production of polyester along with polyester fiber consuming a larger portion of global output. PTA has its wide applications in plastic containers for food & beverages, home textiles, electronics, carpets, apparel, audio & video recording tapes, industrial fiber products, photographic films and labels. The rising demand for PTA from such applications is expected to significantly influence the demand for paraxylene during the forecasted period. Moreover, the increasing production of PET for packaging and film applications is anticipated the drive the demand for PTA which in turn boosts the paraxylene market growth. The overall market can further be bifurcated on the basis of end user industries including packaging, textile, construction and several other industries. Packaging and Textile industry are anticipated to hold the largest market share in the end user segment in 2016. The paraxylenemarket is dominated by some major companies such asMitsubishi Corporation, China Petrochemical Corporation, JX Nippon Oil & Energy Corporation, ExxonMobil Corporation, BP PLC, Reliance Industries Ltd.,ONGC and Sinopec.
The paraxylene market is majorly driven by the rising demand for PTA and DMA from the polyester industry. In 2014, the paraxylene demand which is driven by the markets for PET resin and polyester fiber has doubled during the last ten years and reached approx. $37 million tons in 2013. Increasing demand for polyester fiber from the developing countries such as India and Brazil is anticipated to propel the demand for paraxylene in the coming years. Rising demand for PX from several end user industries comprising construction, chemical and packaging are also contributing towards the growth of the paraxylene market. The raw material required for the production from paraxylene is derived from the crude oil. Hence, any kind of fluctuations in the price of crude oil may directly influence the prices of paraxylene. Strict environmental policies regarding controlling the hazardous effects of paraxylene may hinder the market growth. As the manufacturing process of paraxylene is quite complex, therefore only a limited number of paraxylene producers operate around the world. Bio-based paraxylene is replacing the conventional petroleum based paraxylene to produce eco-friendly plastics. This offers opportunities for new entrants to adapt the bio-based paraxylene manufacturing method and penetrate into the market.
The report segmented cancer biomarkers market on the basis of end users, application and region. The country level analysis of each geographical region is the USP of our report. The analysis of the report is based on production capacity of top 5 market players, paraxylene demand in 2014 & 2015 and price of paraxylene per ton. The data is collected through primary and secondary research. The report provides detailed analysis of key market players and their strategies.
Please note: The delivery time for the electronic version of this report is between 1-3 business days to allow the preparation of an updated version prior to dispatch.