Para Xylene Overview By Business Analysis, Industry Types, Demand, Capacity, Applications, Services, Innovations and Forecast 2027
Para-Xylene Market – Market Overview
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
materials for carbonated drinks, water bottles, and other containers for food,
beverages and personal care products.
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.
Table
of Contents
1Executive Summary
2Scope Of The Report
2.1Market
Definition
2.2Scope
Of The Study
2.2.1Research
Objectives
2.2.2Assumptions
& Limitations
2.3Markets
Structure
3Market Research
Methodology
3.1Research
Process
3.2Secondary
Research
3.3Primary
Research
3.4Forecast
Model
4Market Landscape
4.1Five
Forces Analysis
4.1.1Threat Of New
Entrants
4.1.2Bargaining
Power Of Buyers
4.1.3Threat Of
Substitutes
4.1.4Segment
Rivalry
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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-
Competitive Landscape
The global Para-Xylene Market is a highly lucrative market
driven by flourishing growth in packaging and petrochemical industry, along
with the propelling textile industry. Exxon Mobil Corporation, the Dow
Chemicals Company, Royal Dutch Shell plc. and BASF SE, China national Petroleum
Corporation among others are some of the major players operating in this
market. Most of these market participants are adopting the expansion and
product launch tactics to strengthen their production capacities and market
position. Taking account of these trends the global Para-Xylene Market is
projected to witness considerable competition over the forecast period of
2017-2023.
Asia pacific is expected to be the fastest growing region during
the forecast years. The growing population in the developing countries and
increasing GDP has augmented the demand for PET in the packaging sector coupled
with increasing use of para xylene as pesticides, solvents and coatings
especially in India and China is further expected to boost the market growth.
However, strict regulation in North America and Europe is expected to show
sluggish growth during the forecast years.
Industry/ Innovation/ Related News:
November 16, 2016- A team of chemical researchers including doctorates and
professors from university of Massachusetts has innovated a process for
production of para-xylene which involves the use of biomass as feedstock with a
97% yield. This innovation is expected to fuel the production of para-xylene owing
to its cost efficiency and higher.
April 21, 2017 – Reliance Industries limited announced the successful
completion of the final phase of para-xylene project including aromatic
extraction units, trans-alkylation and PX crystalliser trains at Jamnagar. The
plant is constructed with efficient technology from British Petroleum which is
anticipated to push Reliance to the second spot in the global market of
para-xylene producers. Reliance has successfully implemented the first phase of
the project earlier in 2016. This development is expected to augment the market
of para-xylene in India which in turn will positively affect the Asia Pacific
para-xylene market.
February
11, 2016 –
Hengli Petrochemical Company Limited has collaborated with Axens for the procurement
of technology, in the first crude to paraxylene complex located in China. This
complex is expected to hold a capacity of processing 4,00,000 barrels of crude
oil per day which will further cater to the purified terephthalic acid (PTA)
plants for the use in the PET applications. This collaboration will further
drive the market of PET application will in turn will surge the growth of the
para-xylene market.
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