Para Xylene Market Analysis, Top Key Players| Braskem, Exxon Mobil Corporation, Formosa Chemicals & Fibre Corporation, Reliance Industries Limited, Royal Dutch Shell plc. and US Petrochemical Industries Inc.

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.

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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.

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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Regional Analysis
Geographically, maximum consumer of para xylene market is in Asia-Pacific followed by Europe and all of them contributes greatly in the growth of the market. North-America are facing sluggish market growth rate. Growth of para xylene market is Asia Pacific is maximum due to the growing use of PARA xylene for various applications along with macroeconomic growth of textile and plastic industry in the region.

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