Market Research Future Published a Study Research Report on Global Para Xylene Market Research Report – Forecast to 2022
Para Xylene 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 Overview:
The global para xylene 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 (2016-2022).
Para Xylene is a clear, colorless and flammable solution which is produced from crude oil. Xylene primarily exists in three isomeric forms such as ortho-xylene, meta-xylene and para-xylene. Para xylene or PX or P-xylene is basically an aromatic hydrocarbon compound, which is colorless, sweet-smelling, toxic, and highly flammable chemical. Para-xylene is extensively used for the production of dimethyl terephthalate (DMT) and terephthalic acid (PTA) which are further used in the manufacturing of polyesters. Moreover, para-xylene is primarily used in the production of polyethylene terephthalate (PET) which is primarily used as a packaging material for carbonated drinks, water bottles, and other containers for food, beverages and personal care products.
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According to the analysis of MRFR, the major market forces and trends driving growth of the global Para-Xylene market includes increasing demand for various applications such as packaging, textile and construction materials among others. Moreover, the increasing personal disposable income in the developing economies throughout the globe has augmented the demand for polyester fibers which in turn is expected to fuel the growth of the global Para-Xylene Market during the forecast period. In addition, the growing demand for polyethylene terephthalate (PET) as a packaging material is further expected to affect the market positively. However, stringent government regulations regarding the use of Polyethylene terephthalate due to the non-biodegradable nature and harmful environmental effects in the developed regions such as Europe and North America coupled with the lack of competent labor for handling and transportation of hazardous para-xylene chemicals in the developing economies can act as a major down side to the growth of the market.
Para Xylene Market Key Players:
Braskem, Exxon Mobil Corporation, Formosa Chemicals & Fibre Corporation, Reliance Industries Limited, Royal Dutch Shell plc., US Petrochemical Industries Inc. The Dow Chemicals Company, BASF SE, Conoco Phillips Corporation, JXTG Nippon Oil and Energy Corporation, China national Petroleum Corporation, British Petroleum, Jurong Aromatics Corporation, Lotte Chemical Corporation, Sinopec Corporation, and CNOOC Limited among others are some of the prominent players at the forefront of competition in the global Para-Xylene Market and are profiled in MRFR Analysis.
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 (2013-2018) reveals that the para xylene’s production had touched 5.5 million tons in 2017, while the consumption rate had stood at USD 4.9 million tons the same year.
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 Table Of Contents to be Continue……,
Browse key industry insights spread across 130 pages with 34 market data tables & 11 figures & charts from the report, “Para Xylene Market Information: by Application (Plastic industry, Textile industry and others), End-use Industry (Purified Terephthalic Acid (PTA) and Dimethyl Terephthalate (DMT) and others), and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/para-xylene-market-2278
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