Global Xylene Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 5.2% through 2020 to 2026, reaching nearly US$ XX Mn in the forecast period.
The global Xylene Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Xylene Market report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Xylene Market Overview:
Xylene is an aromatic hydrocarbon obtained from catalytic reforming and coal carbonization process during the production of coke fuel. Xylene is a compound used for rapid evaporation and better dissolving properties. Xylenes are vital petrochemical and flammable liquid. They have also occurred in crude oil at the concentration of about 0.5-1% depending on the source. Xylene is produced mainly as a part of BTX aromatics that is benzene, toluene, and xylene extracts from the product of catalytic reforming known as reformate. The mixture of xylene is a slightly greasy, colorless liquid commonly used as a solvent.
Global Xylene Market Dynamics:
Xylene is used as a solvent with a mixture of isomers, it is also referred to as xylenes or xylon. Growing demand for polymers and the petrochemical sector coupled with increasing demand for PET, leather, and rubber is expected to derive the xylene market in the forecast period. Further developing textile industries are likely to boost the market.
Polyethylene terephthalate (PET) is used for the preparation of mineral water and carbonated drink bottles due to the growing beverage industry is driving the growth of the global xylene market. The global PET bottle market was valued at 16 million tons in the year 2018. The raw material used in the production of PET bottles are derivatives of dimethyl terephthalate, phthalic anhydride, terephthalic acid, isophthalic acid, this is increasing the production demand and polyester industries.
Xylenes solvent property is further creating demand in various applications like degreasing agent, adhesives, and sealants. The global solvent market share is estimated to grow at a CAGR of 6.7% and is expected to reach 29.8 billion by 2025. Hence the solvent industry is also motivating the growth of the xylene market in the forecast period.
The toxicity of xylenes like an irritation to eyes, skin on inhalation, or ingestion is acting as a restraining factor to the global Xylene market in the forecast period.
Global Xylene Market Segment Analysis:
By Type, the segment is trifurcated into O-Xylene, M-Xylene, and P-Xylene. O-xylene is also known as ortho-xylene. As ortho-xylene is anticipated to mark the growth at a CAGR of 4% in the forecast period. ortho-xylene is greatly used in the production of paints and adhesives. O- Xylene is largely used in the production of Phthalic anhydride, which is used as a precursor to many materials, chemicals, and drugs due to xylenes' easy oxidation, and methyl groups are susceptible to halogenations. Most O-xylene is produced by cracking petroleum, affordable by the distribution of aromatic compounds, including xylene isomers. Xylene is isomerized to o-xylene. The above mentioned key properties are fueling the market growth of o-xylene
Global Xylene Market
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By Application, the segment is divided into Plastic & Polymer, Paints & Coatings, Adhesives, Ink & Dye, Cosmetics, Others. The plastic and polymer segment is dominating the global xylene market as the use of polymers in the packaging industry is higher. The most common isomer for the production of polyethylene terephthalate is paraxylene. Polyethylene terephthalate is largely used in the production of packaging materials like plastics in beverage packaging, consumer goods. Sheets and films, packaging automotive and construction.
Plastic is the basic raw material in any type of packaging and hence creates huge demand in the market. The global market share of plastic was valued at 467 billion in 2019 and is estimated to grow at a CAGR of 4.5 % reaching USD 567 billion in the forecast period. The second dominating is paints and coating application in the Xylene market as the disposable income of the individual is growing and consumers are investing more in home decor and paints.
Global Xylene Market
Global Xylene Market Regional Insights:
North America is dominating the global xylene market as the leading countries of North America like the US, Mexico, and Canada driving the growth of the market. the countries are largely focusing on protective and decorative coatings to increase the wall safety and enhance the exterior and interior of the building and its surface is creating huge opportunities for the market players in the region to invest.
The market share of paints and coating in the US was valued at 29 billion in the year 2019. As the market is growing the new technological developments are taking place to increase the acceptance by the consumers like DIY ideology in-home decors, commercial places are further boosting the demand of the xylene market in the region.
Europe is second dominating in the global xylene market. As the region is dominating the food and beverage industry and which is further creating demand for PET bottles. PET bottles are known for their flexibility and firmness and this property further increases the demand. Additionally, PET is the most used and recycled plastic packaging material in Europe. 1.923 million tonnes of PET bottles were collected for recycling in 2017 and this has been increased by 2.9% than the previous year.
Global Xylene Market
The objective of the report is to present a comprehensive analysis of the global Xylene Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Xylene Market dynamics, structure by analyzing the market segments and project the global Xylene Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the global Xylene Market make the report investor’s guide.
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Global Xylene Market
Global Xylene Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Xylene Market Key Player
• Total SA,
• JX Nippon Oil & Energy Corporation
• BASF SE
• BP plc
• Chevron Phillips Chemical Company
• China National Petroleum Corporation
• ConocoPhillips Company
• Doe & Ingalls
• DynaChem South Africa (Pty) Ltd.
• Eastman Chemical Company
• Exxon Mobil Corporation
• Koch Industries, Inc.
• LOTTE Chemical CORPORATION
• MITSUBISHI GAS CHEMICAL COMPANY, INC.
• Reliance Industries Limited
• Saudi Arabian Oil Co.
• Honeywell International Inc.
• Eni S.p.A.
• TORAY INDUSTRIES, INC.
• Puritan Products
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