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Paraxylene Market Will Blooming at 6.7% CAGR to Reach 64.7 billion USD by the End of 2024

Press release   •   Apr 30, 2019 08:00 EDT

Global Paraxylene Market was valued at USD 38.5 billion in 2017 and is likely to generate a demand of USD 64.7 billion by 2024, at a blooming CAGR of 6.7% over the next seven years.

Growing demand for paraxylene across various end uses such as PET bottles, magnetic tapes, x-rays, beverage containers among others is projected to accelerate the market growth. Moreover, rising demand from packaging and textile industries due to growing use of purified terephthalic acid (PTA) in the manufacture of polyester is set to fuel the market growth over the forecast period. The years used for the assessment are as follows;

Historical year : 2014, 2015 and 2016
Base year : 2017
Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the paraxylene market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global paraxylene market
Finalizing the overall size and share for the global market

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OBJECTIVES:

To classify global paraxylene market into segments on the basis of application, and end-use to analyze their growth prospects individually
To analyze market trends, opportunities, drivers and restraints associated with paraxylene
Profiling key companies operating in the market
To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE

The research scope for paraxylene market is as follows:

By Application
Pure terephthalic acid (PTA)
Dimethyl terephthalate (DMT)
Dibutyl-phthalate xylene (DI-PX)
Others

By End-Use

The global paraxylene market was valued at USD 38.5 billion in 2017 and is likely to generate a demand of USD 64.7 billion by 2024, at a CAGR of 6.7% over the next seven years. Growing demand for paraxylene across various end uses such as PET bottles, magnetic tapes, x-rays, beverage containers among others is projected to accelerate the market growth. Moreover, rising demand from packaging and textile industries due to growing use of purified terephthalic acid (PTA) in the manufacture of polyester is set to fuel the market growth over the forecast period. The years used for the assessment are as follows;

Historical year : 2014, 2015 and 2016
Base year : 2017
Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the paraxylene market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global paraxylene market
Finalizing the overall size and share for the global market

OBJECTIVES:

To classify global paraxylene market into segments on the basis of application, and end-use to analyze their growth prospects individually
To analyze market trends, opportunities, drivers and restraints associated with paraxylene
Profiling key companies operating in the market
To study market response with respect to the mergers and acquisitions in the industry

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MARKET SCOPE

The research scope for paraxylene market is as follows:

By Application
Pure terephthalic acid (PTA)
Dimethyl terephthalate (DMT)
Dibutyl-phthalate xylene (DI-PX)
Others

By End-Use
Packaging
Polyester fiber
Others

By Region
North America
Europe
Asia-Pacific
Central & South America (CSA)

Middle East & Africa (MEA)
Packaging
Polyester fiber
Others

By Region
North America
Europe
Asia-Pacific
Central & South America (CSA)
Middle East & Africa (MEA)

FREE ANALYSIS

The global paraxylene market is expected to grow at a significant rate owing to its increasing use in packaging, textile, synthetic resin and other key industries. Additionally, increasing investment particularly in emerging economies such as China, India, and Korea is set to create significant opportunities for the market over the next seven years.

Paraxylene may be defined as an aromatic hydrocarbon, derived from benzene with two methyl substituents. It is an isomer of xylene and is largely used for the manufacture of industrial chemicals such as terephthalic acid (TPA), purified terephthalic acid (PTA) and dimethyl-terephthalate (DMT). TPA, PTA and DMT are used to produce polyethylene terephthalate (PET) polyesters.

Polyesters are used to produce fibers and films. Widespread use of PET bottles for water, soda and other beverages, on account of its non-breakage property has propelled its demand. PET may also be used as fabrics for curtains, clothing and upholstery; as containers for toiletries, cosmetics and other consumer products and other packaging applications. In addition, PET is strong, shatter resistant, and lightweight and helps in retaining the fizz in carbonated beverages as it possesses strong carbon dioxide barrier properties.

Paraxylene is a colorless, flammable liquid which is insoluble in water. Catalytic reforming of petroleum naphtha as a part of BTX aromatics (benzene, toluene and xylene isomers) extracted from the catalytic reformate, results in the production of paraxylene. Although the melting point of paraxylene is the highest among the series of isomers, yet basic crystallization does not enable easy purification due to the formation of eutectic mixtures.

Growing concerns regarding the use of environment friendly products has ushered a shift in consumer choices toward the use of more organic and bio-degradable products. Moreover, major global companies are focusing on Asia-Pacific for market capitalization due to technological advancements and availability of cheap skilled labor. Developed countries such as the U.S. and many European nations have shifted their manufacturing plants to Asia in order to gain such advantages.

However, rising concerns among the consumers regarding the use of plastics may hamper the market growth. Stringent regulations regarding the adverse impact of paraxylene is also likely to act as a restraint for the market. Therefore, key market players are shifting their focus towards the development of bio-based alternatives in order to reduce the reliance on petrochemical derived paraxylene. Furthermore, paraxylene being an industrial chemical is flammable and slightly toxic to humans, and aquatic animals. Thus, high exposure may result in drowsiness, headaches, fatigue, dryness and irritation in skin and eyes, nausea, chemical pneumonia and other chronic diseases.

Some of the key companies operating in the industry include BASF SE; Chevron Phillips Chemical Company; Exxon Mobil Corporation; BP p.l.c.; Mitsubishi Gas Chemical Company, Inc.; Sinopec Group; Honeywell International Inc.; Indian Oil Corporation Ltd.; Toray Industries, Inc.; Persian Gulf Petrochemical Industry Chemical Company; Reliance Industries Limited; Shell Global.; JXTG Nippon Oil & Energy Corporation; among others.

Available customization:

With the given market information, Ameco research offers customization's in line with the company's specific wishes. The following customization choices unit of measurement accessible for the report:
Regional and country-level analysis of the Global Paraxylene Market, by end-use.
Detailed analysis and profiles of additional market players.

Table of Contents

Global Paraxylene Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Paraxylene Market – Market Snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global paraxylene market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.5.1. Growing demand for bio-based paraxylene for use in PET bottles

3.5.2. Increasing investment in emerging economies

3.6. Market dynamics

3.6.1. Market driver analysis

3.6.1.1. Increasing use of PTA in polyester manufacture

3.6.1.2. Rising demand in various end uses

3.6.2. Market restraint analysis

3.6.2.1. Increasing environmental concerns regarding the use of plastics

3.6.2.2. Associated health hazards

3.6.3. Industry analysis-Porters five forces of analysis

CHAPTER 4. Competitive Outlook

4.1. Competitive Analysis

4.2. PESTLE Analysis

4.3. Company Market Share Analysis

4.3.1. Competitive Factors

CHAPTER 5. Global Paraxylene Market Size and Forecast (2014 – 2024)

5.1. Global Paraxylene Market, By Application (Kilo Tons) (USD Billion)

5.1.1. Pure terephthalic acid (PTA)

5.1.2. Dimethyl terephthalate (DMT)

5.1.3. Dibutyl-phthalate xylene (DI-PX)

5.1.4. Others

5.2. Global Paraxylene Market, By End-Use (Kilo Tons) (USD Billion)

5.2.1. Packaging

5.2.2. Polyester fiber

5.2.3. Others

CHAPTER 6. Global Paraxylene (LAB) Market Size and Forecast, By Region (2014 – 2024)

6.1. North America Paraxylene Market (Kilo Tons) (USD Billion)

6.1.1. North America Paraxylene Market, By Application (Kilo Tons) (USD Billion)

6.1.2. North America Paraxylene Market, By End-Use (Kilo Tons) (USD Billion)

6.1.3. North America Paraxylene Market, By Country (Kilo Tons) (USD Billion)

6.1.3.1. The U.S.

6.1.3.2. Canada

6.1.3.3. Mexico

6.2. Europe Paraxylene Market (Kilo Tons) (USD Billion)

6.2.1. Europe Paraxylene Market, By Application (Kilo Tons) (USD Billion)

6.2.2. Europe Paraxylene Market, By End-Use (Kilo Tons) (USD Billion)

6.2.3. Europe Paraxylene Market, By Country (Kilo Tons) (USD Billion)

6.2.3.1. Germany

6.2.3.2. U.K

6.2.3.3. France

6.2.3.4. Italy

6.2.3.5. Rest of Europe

6.3. Asia-Pacific Paraxylene Market (Kilo Tons) (USD Billion)

6.3.1. Asia-Pacific Paraxylene Market, By Application (Kilo Tons) (USD Billion)

6.3.2. Asia-Pacific Paraxylene Market, By End-Use (Kilo Tons) (USD Billion)

6.3.3. Asia-Pacific Paraxylene Market, By Country (Kilo Tons) (USD Billion)

6.3.3.1. China

6.3.3.2. Japan

6.3.3.3. India

6.3.3.4. South Korea

6.3.3.5. Rest of Asia-Pacific

6.4. Central & South America (CSA) Paraxylene Market (Kilo Tons) (USD Billion)

6.4.1. Central & South America (CSA) Paraxylene Market, By Application (Kilo Tons) (USD Billion)

6.4.2. Central & South America (CSA) Paraxylene Market, By End-Use (Kilo Tons) (USD Billion)

6.4.3. Central & South America (CSA) Paraxylene Market, By Country (Kilo Tons) (USD Billion)

6.4.3.1. Brazil

6.4.3.2. Rest of Central & South America (CSA)

6.5. Middle East & Africa (MEA) Paraxylene Market (Kilo Tons) (USD Billion)

6.5.1. Middle East & Africa (MEA) Paraxylene Market, By Application (Kilo Tons) (USD Billion)

6.5.2. Middle East & Africa (MEA) Paraxylene Market, By End-Use (Kilo Tons) (USD Billion)

6.5.3. Middle East & Africa (MEA) Paraxylene Market, By Country (Kilo Tons) (USD Billion)

6.5.3.1. Saudi Arabia

6.5.3.2. South Africa

6.5.3.3. Rest of Middle East & Africa (MEA)

CHAPTER 7. Key Players and Strategic Developments

7.1. BASF SE

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Chevron Phillips Chemical Company

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. Exxon Mobil Corporation

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. BP p.l.c.

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Mitsubishi Gas Chemical Company, Inc.

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Sinopec Group

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Honeywell International Inc.

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Indian Oil Corporation Ltd.

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Toray Industries, Inc.

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Persian Gulf Petrochemical Industry Chemical Company

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Reliance Industries Limited

7.11.1. Business Overview

7.11.2. Product and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

7.12. Shell Global

7.12.1. Business Overview

7.12.2. Product and Service Offering

7.12.3. Financial Overview

7.12.4. Strategic Developments

7.13. JXTG Nippon Oil & Energy Corporation

7.13.1. Business Overview

7.13.2. Product and Service Offering

7.13.3. Financial Overview

7.13.4. Strategic Developments

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