Press release
Xylene Market to Show Tremendous Growth by 2026 | Leading Players - SK global chemical Co. Ltd., Honeywell International Inc., Puritan Products, LOTTE Chemical CORPORATION
Xylene Market
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Market Analysis: Global Xylene Market
Global xylene market is projecting a rise in estimated value by 2026, registering a steady CAGR of 4.4% in the forecast period of 2019-2026 due to growth in the polymer and petrochemical sector, increase in the demand for Polyethylene terephthalate, leather and rubber and increase in demand from end users industries such as automotive, coatings and paints and many more.
Key Market Competitors:
Few of the major competitors currently working in the global xylene market are Braskem, Formosa Chemicals & Fibre Corp, Reliance Industries Limited, Exxon Mobil Corporation, Flint Hills Resources, SK global chemical Co. Ltd., Honeywell International Inc., Puritan Products, LOTTE Chemical CORPORATION, MP Biomedicals, Nutan Chemicals, PTT Global Chemical Public Company Limited, Merck KGaA, Tokyo Chemical Industry Co., Ltd., Doe & Ingalls, Gadiv Petrochemical Industries Ltd, Cepsa and others
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Market Definition: Global Xylene Market
Xylene is an organic chemical compound which has a central benzene ring attached with two methyl groups. Xylene is colourless and flammable liquid compound. Xylene is used for the production of terephthalic acid and related derivatives. Xylene also have wide industrial applications such as in leather and rubber industry. In laboratory, xylene is utilized for the cooling down of reaction vessels. Other than this, xylene is used in automotive and paint industries as well.
Segmentation: Global Xylene Market
Xylene Market : By Type
Ortho-Xylene
Meta-Xylene
Para-Xylene
Mixed Xylene
Xylene Market : By Application
Solvent
Monomer
Other
Xylene Market : By End User
Plastics and Polymers
Paints and Coatings
Adhesives
Other
Xylene Market : By Geography
North America
South America
Europe
Asia-Pacific
Middle East and Africa
Key Development in the Market:
In August 2017, ExxonMobil Asia Pacific Pte Ltd completed the acquisition of Jurong Aromatics Corporation Pte Ltd plant. With the acquisition, Exxonmobil aimed to increase its production including ortho xylene in Singapore. The acquisition would help the firm in strengthening of their both sites with operational and logistical synergies
Competitive Analysis:
Global xylene market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of xylene market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Xylene Market Drivers:
Growth in the polymer and petrochemical sector act as a catalyst to growth of the market
Increase in the demand for Polyethylene terephthalate, leather and rubber may enhance the market growth
Rise in the use of polyesters in textile industry would accelerate the growth of the market
Increase in demand from end users industries such as automotive, coatings and paints and many more has driven the market growth
Xylene Market Restraints:
Stringent rules and norms by government regarding the use of chemical compounds can restrict the growth of this market
Fluctuations in the prices of raw materials may also hamper the market growth
Toxic and hazards effects of xylene and its derivatives can hinder the market growth
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