The global Paraxylene market is projected to surpass USD 36.8 billion by 2023, growing with a CAGR of of 7% 2017 to 2023. Paraxylene (PX) is the largest volume isomer of the mixed xylenes. Paraxylene is the key raw material to produce polyester (PE) which in turn is used to produce fiber, films, packaging materials and polyethylene terephthalate (PET). Increasing demand of both manmade fibres and PET are the driving the demand of Paraxylene, predominantly in Asian markets. According to various government sources, globally, eleven new units were started in 2015 – 2016, stimulating the competitive supply of the Paraxylene. The total production of Paraxylene is expected to surpass the demand and therefore the prices are expected to ease down in the coming years.
Figure: Global Paraxylene Market by value 2015-2023
The report segments the global paraxylene market by application, product type and region. The product type includes purified terephthalic acid (PTA), dimethyl terephthalate (DMT) and others (solvents). PX solvents are used to produce di-paraxylene and herbicides; however, it is approximately 2% – 3% of the overall PX. The report also provides insights on paraxylene production and utilization along with high level trade statistics.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In volume terms, Asia-Pacific is the largest market followed by North America. While Europe and North America are declining markets for polyesters; Asia, in particular, China is expanding exponentially over the years. On one hand China has become the largest importer of Paraxylene to produce polyester fibers and packaging materials; Middle East and North & South Asia have become net exporters.
The companies covered in the report include BASF SE , BP plc, China National Petroleum Corporation, Exxon Mobil Corporation, Sinopec Corporation, CNOOC Limited, Lotte Chemical Corporation, S-Oil Corporation, JX Nippon Oil & Energy Corporation, Reliance Industries Limited, and Jurong Aromatics Corporation.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of paraxylene globally as well as regionally. Moreover, IGR-growth matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as porter’s five forces analysis and value chain analysis of paraxylene. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the paraxylene market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the paraxylene market to understand the present and future trends in this market and formulate their strategies accordingly.
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