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Xylene Market Share, Segments, Drivers And Forecast 2023 To 2032 | Braskem S.A., ExxonMobil Corporation, Honeywell International Inc., BP PLC., Chevron Phillips Chemical
Xylene Market Growth
The Business Research Company's Xylene Global Market Report 2023 identifies increasing demand for paraxylene across the globe as the major driver for the Xylene market's growth in the forecast period. PET is used in industries such as beverage packaging, consumer goods, sheets & films, food packaging, automotive, and construction. The increase in the need for packaging materials has increased the demand for PET and hence contributed to the growth of the paraxylene market. To meet the increasing demand for paraxylene, new production plants have been set up. For instance, according to Jinlianchuang, a Chinese provider of comprehensive digital and intelligent services for bulk commodities, in 2022, China is expected to have 6 sets of paraxylene units in operation with a production capacity of 11.89 million tons/year with a 41.3% increase.
The global xylene market size will grow from $202.06 billion in 2022 to $210.66 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global xylene market size is expected to grow from $246.43 billion in 2027 at a CAGR of 4.0%.
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Major competitors in the Xylene market are Braskem S.A., ExxonMobil Corporation, Honeywell International Inc., BP PLC., Chevron Phillips Chemical, Merck KGaA, Mitsubishi Gas Chemical Company, US Petrochemical Industries Inc., Braskem, and JX Nippon Oil and Energy Corporation.
A key trend in the Xylene market includes stringent safety regulations associated with the manufacture and transportation. Companies in this market should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations as they may harm the environment and population. Humans die when exposed to xylene in concentrations greater than 10,000 ppm (per million parts per million). To provide a safe environment, government agencies put restrictions on the amount of xylene that can be released into the environment.
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https://www.thebusinessresearchcompany.com/report/xylene-global-market-report
The Xylene market is segmented -
By Type: Ortho-Xylene, Meta-Xylene, Para-Xylene, Mixed Xylene
By Application: Automotive, Textile, Chemical, Oil and Gas, Leather, Paints and Coatings, Rubber
By End User: Plastics and Polymers, Paints and Coatings, Adhesives, Other End Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Xylene market.
The Business Research Company's "Global Xylene Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Xylene Market Include:
1. Executive Summary
2. Xylene Market Characteristics
3. Xylene Market Trends And Strategies
4. Xylene Market - Macro Economic Scenario
5. Xylene Market Size And Growth
……
26. Africa Xylene Market
27. Xylene Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Xylene Market
29. Xylene Market Future Outlook and Potential Analysis
30. Appendix
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