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
Segments Covered:
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.
Companies Profiled:
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.
Report Highlights:
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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