Para Xylene Research by Adhesive Formulating Technology By Sealant Resin Type (Silicone, Polysulfide, Butyl), Application, Region - Global Forecast to 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.
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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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.
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.
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