North America is second in the pecking order. North America’s affluent status in the global mixed xylene market is accredited increased use of mixed xylene in gasoline. Addition of mixed xylene improves gasoline quality. High demand for gasoline in countries such as the U.S. and Canada is expected to support the market growth during the assessment period.
Market Research Future (MRFR) projects that the global mixed xylene market will register an impressive CAGR between 2019 and 2027. The increase usage of mixed xylene as a solvent is a major market driver. Growth of adhesive & sealants and paints & coatings has reflected favourably on the market.
Global mixed xylene demand is set to grow sharply in the forthcoming years. The product finds tremendous industrial application. Mixed xylene is basically a mixture of meta-xylene, ortho-xylene, para-xylene and enthylbenzene. The proportion of added chemicals usually vary. Mixed xylene is an inflammable colourless liquid, which has pleasant odour. Natural deposits of mixed xylene are rare; hence it is artificially produced using a combination of chemicals. Production of mixed xylene has increased significantly in recent years.
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Some of the leading companies in the global mixed xylene market include GS Caltex Corporation, Chevron Phillips Chemical Company LLC, LOTTE Chemical Corporation, Royal Dutch Shell plc, China National Petroleum Corporation, YPF Sociedad Anónima, Flint Hills Resources, LLC, SK global chemical Co., Ltd., Exxon Mobil Corporation, China Petroleum & Chemical Corporation, TOTAL S.A., and Idemitsu Kosan Co., Ltd.
The product is also used for fuel blending. However, environmental implication of mixed xylene is likely to hampering its market prospects to some extent. Enforcement of stricter laws on plastic-based products may undermine the market potential of mixed xylene. Mixed xylene has health repercussions and contributes to environmental degradation. Sale may also take a hit from the increased investment in R&D programs for developing bio-based alternatives. The paints and coatings industries are inclining towards bio-based solvent, prompting suppliers to increase the capacity for eco-friendly xylene variants.
Global Mixed Xylene Market: Segmental Analysis
The segmental analysis of the market has been conducted based on end use, application and region.
Based on end use, the market has been segmented into adhesives & sealants, chemicals, printing, paints & coatings, rubber & leather, pesticides, gasoline and others.
On the basis of application, the market has been segmented into solvents, thinners, fuel blending and raw material.
Global Mixed Xylene Market: Regional Analysis
On the basis of region, the market has been segmented into North America, Asia Pacific, Latin America, Europe and the Middle East & Africa (MEA). Off these, the market in APAC is expected to exhibit a strong growth during the forecast period. Countries such as China and India are expected to remain major investment destinations over the next couple of years.
Rapid industrialization and urbanization in these countries is partly influencing the market proposition. Mixed xylene is gaining quick popularity in end-use industries such as adhesives & sealants, paints & coatings and chemical and printing. At the same time, mixed xylene is increasingly used in manufacturing of agricultural pesticides. Such factors are supporting the growth of the market in APAC.
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North America is followed by Europe, which holds the third spot in the global mixed xylene market. In Europe, mixed xylene demand is concentrated in industries like plastic, rubber, chemical, among others. Europe is expected to remain an important market for mixed xylene during the forecast period.
MEA and Latin America markets are also expected to witness healthy growth but from a lower base. The vast oil & gas industry in MEA continues to provide an impetus to the market in the region.
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