Paraxylene Market to Surpass USD 81.02 Billion | Booming at CAGR of 12.05% from 2018 to 2022 | Industry Growth, Size, TOP Trends, Share – Paraxylene Market USD 81.02 Billion - Arhive

Para xylene (PX) had witnessed a rapid growth demand from last few years due to steady demand from polyester manufactures. It is majorly used for producing PTA (Purified Terephthalic acid) and DMT (Dimethyl Terephthalate) which are used in production of polyester. In 2015, the polyesters demand reached around USD 50 million tons making it the most commonly used synthetic fiber across the globe. A small amount of Para xylene is also used as a solvent and in the production of herbicides and di-Para xylene. Rising demand for Para xylene from numerous end user industries including packaging, textiles and construction materials is significantly influencing the demand for Para xylene.Study Objectives of Para xylene Market:

• To provide detailed analysis of the market structure along with forecast for the next 7 years of the various segments and sub-segments of the global para xylene market
• To understand the supply and demand dynamics including supply and consumption concentration mapping
• To provide region level market analysis and future outlook for North America, Europe, Asia, and Rest of the World (ROW) and their countries
• To evaluate historical market trends, patents and technologies, and current government regulatory requirements that are relevant to the market

Key Players

Key players of the global para xylene market are Honeywell UOP, BP, JX Nippon Oil & Energy Corp., CNPC, S-Oil, Reliance Industries Ltd, Dragon, NPC Iran, FCFC, GS Caltex, KPPC, ONGC, Orpic, China National Offshore Oil Corporation. Reliance Industries contributes about 14% to the total Indian export it has presence in various sector. In India, Reliance is the largest producer of polyester fiber and yarn and the 5th largest producer of Para xylene
Intended Audience

• High para xylene manufacturers
• Traders and distributors of high para xylene
• Application industries
• Potential investors
• Raw material suppliers
• Nationalized laboratory

The global para xylene market is expected to grow at USD 81.02 billion by 2022 growing with the CAGR of 12.05% from 2016 to 2022. The source for producing para xylene is naphtha. Para xylene (PX), an aromatic hydrocarbon, is the source for the commercial production of purified terephthalic acid (PTA) and dimethyl terephthalate (DMT), which are further used to produce polyester. The para xylene production process includes the conversion of naphtha into BTX, a mixture of benzene, xylene, and toluene, and the separation of PX by fractional crystallization. PX is an important petrochemical as its end-product polyester is used for various industrial purposes, including textile manufacturing and packaging. It also finds usage as a solvent, along with being the raw material to manufacture Di-PX and herbicides.

Regional Analysis

Geographically, maximum consumer of para xylene market is in Asia-Pacific followed by Europe and all of them contributes greatly in the growth of the market. North-America are facing sluggish market growth rate. Growth of para xylene market is Asia Pacific is maximum due to the growing use of PARA xylene for various applications along with macroeconomic growth of textile and plastic industry in the region.
Increasing demand for polyester fiber in emerging markets of Brazil and India is anticipated to significantly influence the demand for the para xylene in the upcoming scenario. As per the Indian Chemical Industry Five Year Plan 2012-2017, the production of Para xylene is expected to reach 5.5 million tons in 2016 whereas the consumption rate is anticipated to stand at USD 4.9 million tons in 2016…

Honeywell UOP, has developed and successfully commercialized its latest breakthrough in Para xylene technology. Use of ADS-37TM adsorbent, UOP’s latest adsorbent for the ParexTM Process, while carrying out a high capacity revamp, can result in a capacity increase in the range of 10 to 30% compared with operation with previous generation. The improvements associated with ADS-37TM adsorbent and high capacity revamp can be implemented quickly and at relatively lower cost

Geographic Analysis 

The report about Global Para xylene Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.

Related Topics

-May contract price of paraxylene in Europe rose by EUR20 per tonne – The contract price of paraxylene in Europe for May deliveries was finally agreed higher at EUR20 per ton higher than the April price – May contract price paraxylene Europe

-Asian PX-MX spread hits 8-month low amid firm isomer-MX, sluggish PX – The spread between paraxylene and feedstock isomer-grade mixed xylene in Asia has reached its lowest level in eight months due to increased demand for MX for gasoline blending and sluggish PX demand – Asian PX MX spread sluggish PX

-ExxonMobil announced the May contract price of paraxylene at USD1,030 per tonne – ExxonMobil May contract price paraxylene

-SKGC and JXTG announced the May price of paraxylene at USD1,040-1,050 per tonne – JXTG Nippon Oil & Energy (part of Nippon Oil Corporation), a major petrochemical producer in Japan, and SK Global Chemical (SKGC), one of the largest petrochemical producers in South Korea, announced the May contract the price of paraxylene for supplies to Asia at the level of USD1 040-1 050 per ton – SKGC JXTG May price paraxylene

-US April PX CP slips as feedstock MX prices surge on supply, demand – The US April paraxylene contract price was heard settled Friday at 48 cents/lb, sources said Friday – USA April PX CP supply demand

-Paraxylene prices in Asia rose – The spot prices of paraxylene in Asia rose amid the growth in the market of terephthalic acid (TPA) – Paraxylene prices Asia

-Japan’s Mitsui leads Mar PX ACP with sharpest bid of $960/mt CFR – Japan’s Mitsui Chemicals has so far made the highest bid in the March paraxylene Asia Contract Price negotiations at $960/mt CFR, a source close to the purified terephthalic acid – Japan Mitsui Mar PX ACP

-Japan’s JXTG nominates Mar PX ACP at $1,030/mt CFR, up $60/mt from Feb settlement – Japan’s JXTG nominates Mar PX ACP at $1,030/mt CFR, up $60/mt from Feb settlement – Japan’s JXTG Nippon Oil and Energy nominated its March paraxylene Asia Contract Price at $1,030/mt CFR Asia – Japan JXTG PX ACP CFR

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