Para Xylene Market Global Trends, Share, Applications, Growth Size, Segmentation, and Regional Forecast to 2022

Para Xylene Market Overview:
Para Xylene Market is expected to grow at USD 81.02 Billion by 2022 growing with the CAGR of 12.05% from 2018 to 2022.

Para Xylene is a clear, colourless 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 colourless, 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 material for carbonated drinks, water bottles, and other containers for food, beverages and personal care products.

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Para Xylene Market Key Players:
Para Xylene Market are Honeywell UOP, BP, JX Nippon Oil & Energy Corp., CNPC, S-Oil, Reliance Industries Ltd, and Dragon, NPC Iran, FCFC, GS Caltex, KPPC, ONGC, Orpic, China National Offshore Oil Corporation.

Reliance Industries contributes about 14% to the total Indian export it has presence in various sector. In India, Reliance is the largest producer of polyester fiber and yarn and the 5th largest producer of Para xylene.
Honeywell UOP has developed and successfully commercialized its latest breakthrough in Para xylene technology. Use of ADS-37TM adsorbent, UOP’s latest adsorbent for the Parex TM Process, while carrying out a high capacity revamp, can result in a capacity increase in the range of 10 to 30% compared with operation with previous generation. The improvements associated with ADS-37TM adsorbent and high capacity revamp can be implemented quickly and at relatively lower cost.

Para Xylene Market Segmentation:
Para Xylene Market is majorly segmented on the basis of application and end-use. Based on end-use of para xylene the market is segmented into purified terephthalic acid, dimethyl terephthalate and others. Similarly, on the basis of application the market is classified into plastic industry, textile industry and others and others.

Para Xylene Market Regional Analysis:
The Asia-Pacific Para Xylene Market is anticipated to grow at fastest growing CAGR. Due to high production growth rate in the automotive industry in the region. The report estimates the size of the para xylene market, both in terms of volume and value. Asia-Pacific para xylene market is estimated to reach USD 9,909 Million by 2022. The key driver of the market is the growing demand from the automotive, electrical & electronics market.

Increasing demand for polyester fiber in emerging markets of Brazil and India is anticipated to significantly influence the demand for the para xylene in the upcoming scenario. As per the Indian Chemical Industry Five Year Plan 2012-2018, the production of para xylene had reached in million tons in 2016, whereas the consumption rate is anticipated to stand at USD 4.9 Million tons in 2017.

In-addition, APAC region is the major producer of para xylene with several capacity expansions planned in India and China over the coming years. Within the Asia Pacific region, China is the largest consumer and producer of polyester and para xylene, vital for the country’s textile industry, which generated USD 290 Billion of overseas sales. The regional market is also anticipated to experience oversupply after the upcoming capacities come into operation. High demand for polyester from packaging and textile industry coupled with rapid industrialization is anticipated to drive regional growth during the forecasted period. However, North America is expected to hold the second largest market share owing to the growth in the chemical industry as well as the expansion of the end user industries within the region. In 2017, the US consumed around USD 3.8 Million tons of para xylene and a considerable proportion of this demand is met through imports.

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Para Xylene Market Application:
Para Xylene Market is anticipated to grow at steady pace. Para xylene market is currently experiencing an up-cycle for producers. In recent years, new capacity coming on-stream has not kept pace with steadily increasing demand. Existing producers can capitalize in this environment by maximizing production. Since most plants are already operating at full capacity, further increases may require some type of modification. Developments in process technology are the key to enabling revamps that allow low cost expansions that can be executed quickly market is currently.

Para Xylene is used in the production of Purified Terephthalic Acid (PTA) and Dimethyl Terephthalate (DMT) which is further used in production of polyester fiber, film, and resin for a variety of application. Due to downstream demand, the para xylene market is robust and is growing at 6% to 8% every year. By 2005, globally, the production of para xylene capacity has demanded by more than 5.5 Million metric tons per annum, lowering the average capacity up to 85%.

Para Xylene (PX) had witnessed steady demand from last few years due to stable demand from polyester manufactures. It is majorly used for producing PTA (Purified Terephthalic acid) and DMT (Dimethyl Terephthalate). In 2017, the polyesters demand reached around USD 50 million tons making it the most commonly used synthetic fiber across the globe. Rising demand for para xylene from numerous end user industries including packaging, textiles and construction materials is significantly influencing the demand for para xylene.

Para Xylene (PX), an aromatic hydrocarbon, is the source for the commercial production of purified terephthalic acid (PTA) and dimethyl terephthalate (DMT), which are further used to produce polyester. The para xylene production process includes the conversion of naphtha into BTX, a mixture of benzene, xylene, and toluene, and the separation of PX by fractional crystallization. PX is an important petrochemical as its end-product polyester is used for various industrial purposes, including textile manufacturing and packaging. It also finds usage as a solvent, along with being the raw material to manufacture Di-PX and herbicides.

Para Xylene Market Competitive Landscape:
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 2018-2022.

Para Xylene Market Table of Content:
1. Executive Summary
2. Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3. Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4. Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Par Xylene Market
5. Industry Overview of Global Par Xylene Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis

Para Xylene Market Table of Content to be Continue……,

Complete table of content is available at @ https://www.marketresearchfuture.com/reports/para-xylene-market-2278

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