Press release
Benzene Toluene Xylene Market Industry Forecast upto 2026: Key Vendors Exxon Mobil Corporation, UOP LLC Royal Dutch Shell Plc., Eastman Chemical Company, BASF SE, LyondellBasell Industries N.V. Chevron Phillips Chemical Company LLC. Ashland Inc. Celanese
Benzene Toluene Xylene Market
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The major players in the benzene toluene xylene market are Exxon Mobil Corporation, UOP LLC Royal Dutch Shell Plc., Eastman Chemical Company, BASF SE, LyondellBasell Industries N.V. Chevron Phillips Chemical Company LLC. Ashland Inc. Celanese Corporation, DEZA a. s., Honeywell UOP, Huntsman Corporation , INEOS AG, Oil Refineries Ltd., and Petrochem Carless
Asia-Pacific is the largest, and fastest-growing market
Asia-Pacific is expected to be the largest region in the Benzene Toluene Xylene market. BTX is used as a polyester for the manufacturing of rubber, leather, as well as in textiles. Major manufacturers are now shifting their production units to the emerging economies of Asia Pacific and Latin America in order to capitalize on major economies of scale in these regions. The low feedstock cost and increasing industrialization in Asia Pacific are the major factors positioning it as the largest and fastest growing market for BTX. Also, benzene is majorly used in the production of SBR and polycarbonates. Thus, the growing automotive and construction industry in Asia-Pacific region is fueling growth of SBR and polycarbonates, which in turn is augmenting growth of benzene toluene xylene market. In North America, the availability of abundant and cheap raw material from exploiting shale gas reserves is expected to lend major growth traction to the petrochemical industry, which in turn will augment growth of the BTX market in the region.
Benzene Toluene Xylene Market Challenge – Environmental Impact
Volatile organic compound content is one of the most commonly used terms in the solvent industry. Benzene Toluene Xylene is classified as an artificial VOC source, which lead to major health disorder and are strictly directed by stringent government regulations. Moreover, due to stringent government regulation on release of VOC emission to the atmosphere, end-use industries are actively opting for alternative to organic solvents and dispersing media.
There are various organic and inorganic growth strategies being followed by major players. For instance, China’s CNOOC Ningbo Daxie Petrochemical has announced a new 1.6 million MT/year para xylene plant at Ningbo, which is expected to be commissioned by 2018.
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