Para Xylene Market, Size, Growth 2021 Global Business Industry Revenue, Demand and Applications Market Research Report to 2027
Para-Xylene Market Bonded to a Striking Growth by
2022; Asserts MRFR :
Pune, India, December, 2017/MRFR
Press Release/- Market Research Future Published a Half Cooked Research “Global Para-Xylene Market Research Report- Forecast to 2022” - Market Analysis, Scope,
Stake, Progress, Trends and Forecast up to 2022.
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.
Browse Full Report @ https://www.marketresearchfuture.com/reports/para-xylene-market-2278
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.
Request For
Sample Report Here @ https://www.marketresearchfuture.com/sample_request/2278
About Market Research Future:
At Market Research Future (MRFR), we enable our
customers to unravel the complexity of various industries through our Cooked
Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting
Services.
MRFR team have supreme objective to provide the
optimum quality market research and intelligence services to our clients. Our
market research studies by products, services, technologies, applications, end
users, and market players for global, regional, and country level market
segments, enable our clients to see more, know more, and do more, which help to
answer all their most important questions.
In order to stay updated with technology and work
process of the industry, MRFR often plans & conducts meet with the industry
experts and industrial visits for its research analyst members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Read More Related Article:
https://www.marketresearchfuture.com/reports/ammonia-market-2405
https://www.marketresearchfuture.com/reports/magnetite-nanoparticles-market-10559
https://www.marketresearchfuture.com/reports/phthalic-anhydride-market-5919
https://www.marketresearchfuture.com/reports/prepreg-market-10580
Comments
Post a Comment