Mixed Xylene Market is Projected to Reach US$ 74.79 Bn by End of 2028

Mixed Xylene is a colourless and flammable aromatic hydrocarbon liquid with a sweet odour. Mixed Xylene is a mixture of different isomers of xylenes, such as meta-xylene, Paraxylene, ortho-xylene and ethylbenzene. The distribution of isomers in xylene varies. Commercial xylenes from petroleum sources contain approximately 40% – 50% m-xylene, 20% o-xylene, 20% p-xylene and 5% – 15% ethylbenzene. Around 98% of Paraxylene is consumed by the polyester chain for the production of film, fibre and polyethylene terephthalate (PET), through one of the two intermediates: dimethyl terephthalate (DMT) or purified terephthalic acid (PTA).

Meta-xylene is used in the production of isophthalic acid. Ortho-Xylene is used in the production of phthalic anhydride. Mixed Xylene is also used as a solvent in different end-use industries. Mixed Xylene is an essential base material for various chemicals and thus, the global market is expected to register robust growth during the forecast period and reach a market value of US$ 74.79 Bn by 2028.

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Based on grade, the Mixed Xylene can be classified into isomer grade and solvent grade. Isomer grade mixed xylene is used as a raw material for the production of, meta-xylene, Paraxylene and ortho-xylene. The Isomer Grade Mixed Xylene segment will dominate the Mixed Xylene market in terms of global market share and is estimated to account for about 85% share in the total absolute $ opportunity created by the end of 2028. Solvent Grade Mixed Xylene is used as a solvent in various industries, such as paints and coatings, printing, rubber & leather, etc.

Mixed Xylene is used for various applications. For instance, it is used in to enhance the octane number of gasoline. Mixed xylene is also used as a solvent in various end-use industries and also used as a thinner in paints, inks, etc. The major application of mixed xylene is its use as a base material for the production of various chemicals. The raw material segment will lead the global Mixed Xylene market and is expected to account for absolute $ opportunity of US$ 31.06 Bn by the end of the forecast period.

Mixed Xylene have applications in various end use industries. On the basis of end use, mixed xylene is categorized into Paints & Coatings, Pesticides, Chemicals, Gasoline, and Rubber and Printing & Leather. The chemicals segment is estimated to witness significant growth due to increasing demand for paraxylene in the global market.

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In 2018, China is projected to be the most attractive region in the global Mixed Xylene market and is expected to account for more than 32% share in the global absolute dollar opportunity in the Mixed Xylene market share. Furthermore, growing consumption of Mixed Xylene in North America region owing to the expanding petrochemical industry is expected to drive the mixed xylene market in the region. Asia Pacific excl. Japan & China continues to be a strong market for Mixed Xylene and significant growth is being witnessed in the region owing to increasing demand for aromatic hydrocarbons in the region. Middle East & Africa region is anticipated to witness healthy growth over the forecast period.

Exxon Mobil Corporation, TOTAL S.A., GS Caltex Corporation, Idemitsu Kosan Co., Ltd., LOTTE Chemical CORPORATION, Royal Dutch Shell plc, China National Petroleum Corporation, Chevron Phillips Chemical Company LLC, China Petroleum & Chemical Corporation, Flint Hills Resources, LLC, YPF Sociedad Anónima, and SK global chemical Co., Ltd. are some of the key players in the global market.

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In terms of market value, the global Mixed Xylene market is expected to create absolute $ opportunity worth US$ 36.61 Bn during the forecast period. China is projected to register significant growth in Mixed Xylene market. The region will grow at a CAGR of 8.7% over the forecast period.

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This release was published on openPR.