December 1, 2021

Paraxylene (PX) Market Outlook to 2024: Emerging Trends and Will Generate New Growth Opportunities Status

3 min read

Paraxylene (PX)

Paraxylene (PX) Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Paraxylene (PX) market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Increasing Demand from the Purified Terephthalic Acid (PTA) Application

– PTA is an organic compound that is made by causing a reaction between secondary petroleum product paraxylene (PX) and acetic acid. PTA has a form of white crystalline powder that looks like sugar. It is quite inert, and is thus difficult to dissolve in water or other liquids.
– PTA is majorly used for the production of polyester, such as polyester films, PET bottles, and furniture, and is further used in making high-performance plastics, such as polybutyl terephthalate (PBT) and polyethylene terephthalate (PET).
– With increasing production in industries, such as automotive, food and beverage, electronics, and construction, the demand for plastics, such as PET, PBT, etc., is also increasing. This, in turn, is leading to increased demand for such high-performance plastics, which is likely to increase their production. Thus, as PTA is used in the production of such plastics, the demand for PTA is also expected to increase with production of such plastics.
– Additionally, the plastics industry, at present, is focusing on manufacturing plastics made from bio-made materials, owing to the increasing detrimental effects of plastic on the environment. The emerging market for bio plastics is expected to drive the market of PTA as well.
– All the aforementioned factors are expected to drive the global market during the forecast period.

Asia-Pacific Region to Dominate the Market

In Asia-Pacific, China has emerged as one of the biggest production houses in the world today, and is also the largest manufacturer and consumer of paraxylene, at present. Growing demand for PET in China is ramping up the PET value chain, which in turn, is rapidly driving the market for paraxylene in the country. In 2018, China accounted for around 32% of the global PET production capacity, and is been adding capacities continuously, through the years, owing to the growing demand of PET from the packaging and textile industries. Such factors are increasing the demand for PTA that is used as a precursor for PET resin production, which in turn, is driving up the consumption of paraxylene continuously. Through 2018 and 2019, around 14 to 15 million metric ton new paraxylene production capacity is expected to be added in Asia, with the majority in China, annually. Owing to such factors, the consumption of paraxylene is expected to rise in China through the forecast period.

Market Overview:

  • The paraxylene (PX) market is anticipated to register a CAGR of more than 4% during the forecast period, 2019-2024. Paraxylene is an aromatic hydrocarbon and is one of the three isomers of dimethybenzene, also known as xylene. Para in xylene indicates the two methyl groups occupy the diametrically opposite substitute positions 1 and 4, and it differs with the other two isomers of xylene, orthoxylene, and metaxylene.
  • – High demand for polyethylene terephthalate (PET) and increase in PET collection and recycling rates in are expected to drive the growth of the market in the forecast period.
  • – Increase in consumer awareness regarding the use of plastic-free products and increase in PET collection and recycling rates in are likely to hinder the market’s growth.
  • – Innovation in the use of bio-based paraxylene in bio plastic PET bottles (Bio-PET) and other bio plastic products is projected to act as an opportunity for the market in future.<

    Key Manufacturers Like 

  • Pertamina
  • BP PLC
  • Braskem
  • Chevron Phillips Chemical
  • China National Petroleum Corporation (CNPC)
  • Fujian Refining & Petrochemical Company Limited (FREP)
  • ExxonMobil Corporation
  • Dalian Fujia Dahua Petrochemical Co. Ltd
  • JX Nippon Oil & Energy Corporation
  • Mitsubishi Gas Chemical Co. Inc.
  • NPC Iran
  • Reliance Industries Ltd (RIL)
  • Sinopec
  • Toray Industries
  • Mangalore Refinery and Petrochemicals Limited (MRPL)
  • S.K. Innovation Co. Ltd
  • Formosa Plastics Corporation
  • Rongsheng Petrochemical Co. Ltd
  • S
  • Oil Corporation
  • Total SA.

    Scope of the Report:

  • This report studies the global Paraxylene (PX) market size, industry status and forecast, competition landscape and growth opportunity.

    Paraxylene (PX) market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Paraxylene (PX) market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Paraxylene (PX) market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Paraxylene (PX) market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Paraxylene (PX) market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Paraxylene (PX) ?
    • Who are Opportunities, Risk and Driving Force of Paraxylene (PX) market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Paraxylene (PX) space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Paraxylene (PX) market opportunities, market risk and market overview of the Market?

    Lastly, the Global Paraxylene (PX) Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Paraxylene (PX) Market Report:

    • To provide a detailed analysis of the market structure along with the Paraxylene (PX) market forecast of various segments and sub-segments of the Paraxylene (PX) market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Paraxylene (PX) market trends that influence the global Paraxylene (PX) market

    Detailed TOC of Paraxylene (PX) Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Drivers
    4.1.1 High Demand for Polyethylene Terephthalate (PET)
    4.1.2 Increase in PET Collection and Recycling Rates in
    4.2 Restraints
    4.2.1 Increase in Consumer Awareness Regarding the Use of Plastic-free Products
    4.2.2 Increase in PET Collection and Recycling Rates in
    4.3 Industry Value-Chain Analysis
    4.4 Porter’s Five Forces Analysis
    4.4.1 Bargaining Power of Suppliers
    4.4.2 Bargaining Power of Consumers
    4.4.3 Threat of New Entrants
    4.4.4 Threat of Substitute Products and Services
    4.4.5 Degree of Competition
    4.5 Feedstock Analysis
    4.6 Technological Snapshot
    4.7 Import Export Trends
    4.8 Price Trends
    4.9 Supply Scenario
    4.10 Regulatory Policies

    5 MARKET SEGMENTATION
    5.1 Application
    5.1.1 Purified Terephthalic Acid (PTA)
    5.1.2 Dimethyl Terephthalate (DMT)
    5.1.3 Other Applications
    5.2 End-User Industry
    5.2.1 Plastics
    5.2.2 Textile
    5.2.3 Other End-user Industries
    5.3 Geography
    5.3.1 Asia-Pacific
    5.3.1.1 China
    5.3.1.2 India
    5.3.1.3 Japan
    5.3.1.4 South Korea
    5.3.1.5 Rest of Asia-Pacific
    5.3.2 North America
    5.3.2.1 United States
    5.3.2.2 Canada
    5.3.2.3 Mexico
    5.3.3
    5.3.3.1 Germany
    5.3.3.2 United Kingdom
    5.3.3.3 Italy
    5.3.3.4 France
    5.3.3.5 Rest of
    5.3.4 South America
    5.3.4.1 Brazil
    5.3.4.2 Argentina
    5.3.4.3 Rest of South America
    5.3.5 Middle East & Africa
    5.3.5.1 Saudi Arabia
    5.3.5.2 South Africa
    5.3.5.3 Rest of Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
    6.2 Market Share Analysis**
    6.3 Strategies Adopted by Leading Players
    6.4 Company Profiles
    6.4.1 Pertamina
    6.4.2 BP PLC
    6.4.3 Braskem
    6.4.4 Chevron Phillips Chemical
    6.4.5 China National Petroleum Corporation (CNPC)
    6.4.6 Fujian Refining & Petrochemical Company Limited (FREP)
    6.4.7 ExxonMobil Corporation
    6.4.8 Dalian Fujia Dahua Petrochemical Co. Ltd
    6.4.9 JX Nippon Oil & Energy Corporation
    6.4.10 Mitsubishi Gas Chemical Co. Inc.
    6.4.11 NPC Iran
    6.4.12 Reliance Industries Ltd (RIL)
    6.4.13 Sinopec
    6.4.14 Toray Industries
    6.4.15 Mangalore Refinery and Petrochemicals Limited (MRPL)
    6.4.16 S.K. Innovation Co. Ltd
    6.4.17 Formosa Plastics Corporation
    6.4.18 Rongsheng Petrochemical Co. Ltd
    6.4.19 S-Oil Corporation
    6.4.20 Total SA

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS
    7.1 Innovation in the Use of Bio-based Paraxylene in Bioplastic PET Bottles (Bio-PET) and Other Bioplastic Products

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