Press release
Paraxylene Market Comprehensive Study Explore Huge Growth in Future | JX Nippon Oil & Energy Corporation, Mitsubishi Gas Chemical
The growth of the paraxylene market can be primarily attributed to rising demand for plastics in several end-use industries, integration of advanced technologies in the production as well as introduction of bio-based paraxylene in numerous bioplasticsA recent study by the strategic consulting and market research firm; Report Ocean revealed that the Global Paraxylene Market was 50.1 million tons in 2021 and is projected to reach 71.1 million tons by the year 2028, growing at a CAGR of 5.2% over the analysis period of 2022-2028. The expansion in the paraxylene market can be primarily attributed to the large and growing demand for dimethyl terephthalic acid, terephthalic acid, and other derivatives of PTA. Additionally, the surging demand for PET bottles, fibers, resin and other products from food and beverage sectors, personal care and cosmetics sector, textile sector, pharmaceutical sector, and others is expected to boost the market growth substantially during the forecast period 2022-2028. Nevertheless, the hazardous impacts of paraxylene especially on the aquatic organisms and habitat is anticipated to hamper the market growth.
Download Free Sample of This Strategic Report: https://reportocean.com/industry-verticals/sample-request?report_id=MR294
Surging Demand for PET and Polyester by Various End-User Driving the Global Paraxylene Market Growth
The ever-expanding interest for polyester as well as PET across several end-use industries organizations is likely to bolster the demand throughout the coming few years. Moreover, growing interest for sifted terephthalic corrosive (PTA) for polyester creation is anticipated to offer spur to the paraxylene market. The huge usage of PET among individuals, especially in the Asia Pacific region, is highlighting the market growth. The surging adoption of PET containers and other packaging materials, credited to them being viewed as protected and prudent, in the food and beverage industry has played an important role in the surge in the market growth. Furthermore, the large-scale espousal of polyester in the material business world has strengthened the demand for paraxylene in the global market. The substantial usage of paraxylene in making PTA is expected to aid the rapid expansion of the market during the forecast period. Additionally, the limitless usage of PET in numerous applications in the material business such as in production of goods, dresses, specialized materials is significantly aiding the growth of the global paraxylene market.
Purified Terephthalic Acid (PTA) Accounted for The Largest Market Share and Likely to Grow with The Highest CAGR
By product type, the global paraxylene market is divided into purified terephthalate acid (PTA), dimethyl terephthalate (DMT), and others. Amidst the segmentation, PTA acted as the sole driver of the paraxylene market as about 97% of the paraxylene demand went into PTA manufacturing, thus accounting for the largest market share in 2021. PTA has netter financial nature and lower capital cost, making it an ideal feedstock for numerous end-use businesses. Consequently, the polyester makers prefer PTA. However, demand from assembling of designing polymers, for instance, polybutylene terephthalate is projected to bolster the growth of Dimethyl Terephthalate during the proposed forecast period.
Impact of COVID-19 On The Global Paraxylene Market
As a result of the COVID-19 pandemic, the world witnessed one of the worst recessions since WW2. The global Paraxylene market has also been brutally impacted by the emergence of the COVID-19 pandemic. Several governments around the world imposed rigorous lockdowns thus vividly hampering the building and, transportation, packaging, electrical, and electronics industries, which are the most important end-user industries for the paraxylene market. Nevertheless, with the improving market circumstances in the post COVID era, the growth of the Paraxylene market is likely to recover during the forecast period.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=MR294
Asia-Pacific Region Is Expected to Grow with The Highest CAGR in The Global Paraxylene Market.
In terms of regional analysis, the global Paraxylene market has been classified into North America, Europe, the Asia-Pacific, Latin America and the Middle East, and Africa. Amidst the segmentation, the Asia-Pacific region is expected to be the largest growing market in the global paraxylene owing to the factors such as rising urbanization, high population growth, rise in disposable income, and the increasing demand for fast-moving consumer goods. China, India, as well as the U.S. comprise some of the largest paraxylene market globally. Moreover, China accounted for the greatest market share in terms of regional consumption of paraxylene. The Asia-Pacific region is followed by Europe and North America, Latin America, Middle East and Africa. The paraxylene market is anticipated to exhibit robust growth throughout the forecasted period, particularly in petroleum-rich countries of the Middle East.
Competitive Landscape
The global paraxylene market is a semi-consolidated market. The key players operating in the global paraxylene market are BP PLC, Pertamina, Braskem, Chevron Phillips Chemical, China National Petroleum Corporation, Fujian Refining & Petrochemical Company Limited, ExxonMobil Corporation, JX Nippon Oil & Energy Corporation, Mitsubishi Gas Chemical Co. Inc., NPC Iran, Reliance Industries Ltd, Sinopec, Toray Industries, Mangalore Refinery and Petrochemicals Limited, S.K. Innovation Co. Ltd, etc., Mitsui Chemicals Inc., S-Oil Corporation and other prominent players.
Market Segment:
By Product Type (Purified Terephthalate Acid, Dimethyl Terephthalate, And Others)
By End-Use Industry (Plastics, Textile, Electrical & Electronics, Food Packaging, Construction, And Others)
By Region (North America, Europe, The Asia Pacific, Latin America, The Middle East, And Africa)
The players maintain their dominance in the market by enhancing their production capabilities, research, and development activities, and launching improved products for the customers. Different strategies are adopted like engaging in strategic alliances, agreements, mergers, and collaborations.
Table of Content:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
.................Some More Report..............
Global Agricultural Biologicals Market: https://www.barchart.com/story/news/13513274/global-agricultural-biologicals-market-size-latest-trends-key-players-revenue-growth-and-forecast-2030
North America Agricultural Biologicals Market: https://www.barchart.com/story/news/13513272/north-america-agricultural-biologicals-market-size-segmentation-analysis-growth-share-trends-size-and-forecast-2030
Europe Agricultural Biologicals Market: https://www.barchart.com/story/news/13513270/europe-agricultural-biologicals-market-size-scope-trends-growth-status-share-revenue-and-forecast-2030
Asia Pacific Agricultural Biologicals Market: https://www.barchart.com/story/news/13513268/asia-pacific-agricultural-biologicals-market-size-forecast-business-growth-and-development-factors-by-2030
Global Food Safety Testing Market: ttps://www.barchart.com/story/news/13513266/global-food-safety-testing-market-size-share-trend-analysis-production-scenario-and-supply-forecast-by-2030
Request full Report : https://reportocean.com/industry-verticals/sample-request?report_id=MR294
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
Tel:+1 888 212 3539 (US - TOLL FREE)
Website:https://www.reportocean.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Paraxylene Market Comprehensive Study Explore Huge Growth in Future | JX Nippon Oil & Energy Corporation, Mitsubishi Gas Chemical here
News-ID: 2895412 • Views: …
More Releases from Report Ocean

Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan.
Internet Advertising are set…

Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders…

Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030.
This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,…

Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,…
More Releases for Paraxylene
Paraxylene Prices, Chart, Trend, Index 2024 & Forecast Analysis
𝐏𝐚𝐫𝐚𝐱𝐲𝐥𝐞𝐧𝐞 𝐏𝐫𝐢𝐜𝐞 𝐈𝐧 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬
• 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬: 1032 USD/MT
During the second quarter of 2024, the paraxylene prices in the United States reached 1032 USD/MT in June. In Q2 2024, paraxylene prices in the USA fell due to a surplus in supply and weak demand.
The latest report by IMARC Group, titled "𝐏𝐚𝐫𝐚𝐱𝐲𝐥𝐞𝐧𝐞 𝐏𝐫𝐢𝐜𝐞𝐬, 𝐓𝐫𝐞𝐧𝐝, 𝐂𝐡𝐚𝐫𝐭, 𝐃𝐞𝐦𝐚𝐧𝐝, 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐍𝐞𝐰𝐬, 𝐇𝐢𝐬𝐭𝐨𝐫𝐢𝐜𝐚𝐥 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐃𝐚𝐭𝐚 𝐑𝐞𝐩𝐨𝐫𝐭 𝟐𝟎𝟐𝟒 𝐄𝐝𝐢𝐭𝐢𝐨𝐧," provides a thorough examination of…
Global Paraxylene Market Analysis and Forecast, 2023-2028
The global paraxylene market was estimated at a market volume of 56 million tons in 2022 and is expected to grow at a significant CAGR of over 5.3% over the forecast period of 2023-2028.
Technologies for producing paraxylene are constantly improving; such as catalytic methods, which have increased productivity and decreased production costs. The availability and competitiveness of the paraxylene market are improved as a result of these developments. The demand…
Bio-based Paraxylene Market 2021 | Detailed Report
Global Bio-based Paraxylene Market 2021-2027, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.
Get Free Sample PDF (including full TOC, Tables and Figures)…
Global Bio Based Paraxylene Market Growth 2019-2024
LP INFORMATION offers a latest published report on Bio-based Paraxylene Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report.
According to this study, over the next five years the Bio-based Paraxylene market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$ xx million in 2019. In particular,…
Paraxylene Px Market Perceive Robust Expansion by 2021
Paraxylene, also known as PX or P-Xylene, is an aromatic hydrocarbon compound, derived particularly from benzene. Paraxylene is a colorless, toxic, sweet-smelling, and highly flammable chemical at room temperature . It is found naturally in petroleum and coal tar. Paraxylene or P-Xylene is an isomer of xylene compound, derived from benzene. Some of the other isomers of xylene include O-xylene and M-xylene. Paraxylene finds its largest application in large-scale manufacturing…
Paraxylene Px Market Perceive Robust Expansion by 2021
Paraxylene, also known as PX or P-Xylene, is an aromatic hydrocarbon compound, derived particularly from benzene. Paraxylene is a colorless, toxic, sweet-smelling, and highly flammable chemical at room temperature . It is found naturally in petroleum and coal tar. Paraxylene or P-Xylene is an isomer of xylene compound, derived from benzene. Some of the other isomers of xylene include O-xylene and M-xylene. Paraxylene finds its largest application in large-scale manufacturing…