Paraxylene (PX) Market: Industry Trends, Share, Size, Growth, and Forecast 2021-2026
- raveenaimarc
- Jul 13, 2021
- 3 min read
As per the latest report by IMARC Group, titled “Paraxylene (PX) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global paraxylene market size expected to exhibit moderate growth during 2021-2026. Looking forward, the global paraxylene (PX) market is expected to grow at a CAGR of around 5% during 2021-2026. Paraxylene, also known as P-Xylene or PX, is a colorless, aromatic, toxic and organic compound that is highly flammable at room temperature. It is one of the isomers of xylene, other than M-xylene and O-xylene. Paraxylene occurs naturally in coal tar and petroleum and can be synthetically obtained from benzene. Paraxylene is used as a raw material for producing various industrial chemicals, including dimethyl-terephthalate (DMT) and purified terephthalic acid (PTA). These chemicals are further used to manufacture plastics such as polyethylene terephthalate (PET).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Paraxylene Market Trends:
Paraxylene finds several applications across the packaging, construction, textile and cosmetics industries. In the packaging and cosmetics industry, there has been an increase in the use of paraxylene in the production of plastic bottles and containers for toiletries and other personal care products. Other than this, various technological innovations within the textile industry have stimulated the demand for PET-based fiber for making curtains, upholstery and clothing. Other uses of PET include the production of construction materials, magnetic tapes, furniture, films for X-rays, packaging for processed meats, boil-in bags and polyester films. With rising prosperity, the demand for these products is growing, which in turn is influencing the global paraxylene market outlook. Apart from this, as paraxylene is moderately unsafe for aquatic organisms and the environment, several regulatory bodies are tracking the manufacturing units to regulate plant-generated emissions. This has pushed producers to employ biological paths to produce bio-based paraxylene, which is more environment-friendly.
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Competitive Landscape with Key Player:
BP PLC
Braskem SA
PT Pertamina
Chevron Phillips Chemical
China National Petroleum Corporation
Fujian Refining & Petrochemical (FREP) Company Limited
ExxonMobil Corporation
JX Nippon Oil & Energy Corporation
Mitsubishi Gas Chemical Co. Inc.
The National Petrochemical Company (NPC) Iran
Reliance Industries Limited
China Petroleum & Chemical Corporation or Sinopec
Toray Industries, Inc.
Mangalore Refinery and Petrochemicals Limited
K. Innovation Co. Ltd.
Market Breakup by Application:
Purified Terephthalic Acid (PTA)
Dimethyl Terephthalate (DMT)
Others
Market Breakup by End Use Industry:
Plastics
Textile
Others
Market Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America.
Key Highlights of the Report:
Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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