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Para Xylene Market Overview:The global paraxylene market could touch the valuation of USD 81.02 billion by 2022, suggests Market Research Future (MRFR). It could attain a CAGR of 12.05% during the forecast period (2018-2022).
Growth Boosters and Top Barriers:
Steadily growing demand from polyester manufacturers has turned out to be a significant reason behind the strong product demand. Paraxylene (PX) is predominantly used in the production of purified terephthalic acid (PTA) as well as dimethyl terephthalate (DMT). These products are used to manufacture polyester. PX acts as a solvent during the production of di-paraxylene and herbicides.
Progress of applications including polyester and PET, especially in Asia Pacific could favor PX market in the coming years. Developing economies provide monitory benefits for PTA and PX production. This leads to considerable growth prospects for the worldwide market. In addition, non-traditional feedstock, as well as lower feedstock consumption, could stimulate paraxylene demand during the evaluation period.
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Industry Latest News:
July 2019 - INVISTA Performance Technologies (IPT) along with Sichuan Energy Investment Chemical New Material Co., Ltd (Sichuan Energy) and Sichuan Shengda Chemical New Material Co. has successfully launched a new startup of its purified terephthalic acid (PTA) plant. The plant makes use of Invista’s P7 PTA process technology, which has a capacity of about one million metric tonnes per year. It also makes use of INVISTA’s R2R technology to produce benzoic acid as co-product.
Para Xylene Market Key Players:
Top players shaping the worldwide para xylene market include NPC Iran, CNPC, S-Oil, Reliance Industries Ltd, Dragon, FCFC, Honeywell UOP, KPPC, ONGC, Orpic, BP, JX Nippon Oil & Energy Corp., GS Caltex, China National Offshore Oil Corporation, among others.
Para Xylene Market Segmentation:
The worldwide para xylene market has been segmented on the basis of application, and end-user.
The applications covered in the report include plastic industry, textile industry, and others.
Depending on the end-user, the market can be narrowed down to purified terephthalic acid (PTA) and dimethyl terephthalate (DMT). PTA stands as the sole reason responsible for the high product demand as most of the PX demand comes from PTA production. Most of the polyester manufacturers go for PTA instead of DMT on account of its economic nature. Yet, the hike in demand during the manufacture of engineering polymers like polybutylene terephthalate could benefit DMT in the following years.
Para Xylene Market Regional Analysis:
Asia Pacific, Europe, North America, and Middle East and Africa are the primary markets for para-xylene.
A large portion of the consumers of para-xylene market are based in the Asia Pacific, followed by Europe. The regional market could experience oversupply of product on account of planned capacity expansion. Plus, mounting demand for polyester in packaging and textile applications along with rapid industrialization could do wonders for the market in the years ahead. In Southeast Asia, countries like Indonesia, Thailand, and Vietnam, massive demand for polyester would benefit the market. Other than this, surging demand for polyester fiber in developing markets of India is estimated to accelerate the demand for para-xylene in the given timeframe. The Indian Chemical Industry Five Year Plan (2012-2017) reveals that the para xylene’s production had touched 5.5 million tons in 2016, while the consumption rate had stood at USD 4.9 million tons the same year.
Para Xylene Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Paraxylene Market
Para Xylene Market Table of Content to be Continue……,
Para Xylene Market List of Table:
Table 1World Population: By Major Regions (2015 To 2030) (Million)
Table 2Global Paraxylene Market: By Region, 2014-2022 (USD Million)
Table 3North America Paraxylene Market: By Country, 2014-2022 (USD Million)
Table 4Europe Paraxylene Market: By Country, 2014-2022 (USD Million)
Table 5Asia-Pacific Paraxylene Market: By Country, 2014-2022 (USD Million)
Para Xylene Market List of Table to be Continue.….,
Para Xylene Market List of Figures:
FIGURE 1 Global Paraxylene Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Paraxylene Market
FIGURE 4 Value Chain of Global Paraxylene Market
FIGURE 5 Share of Global Paraxylene Market In 2014, By Country (In %)
Para Xylene Market List of Figures to be Continue….,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/para-xylene-market-2278
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Organization: Market Research Future
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Website: https://www.marketresearchfuture.com/reports/para-xylene-market-2278
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