Xylene Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3747
Xylene Market size should register significant growth during the projected timeframe led by rising demand for polymers and petrochemicals owing to increasing application of polyester and polyethylene terephthalate (PET). Increasing product application in rubber and leather may also drive the xylene market demand.
Xylene is an vital petrochemical which is colorless and flammable liquid. The compound has a central benzene ring with two methyl group attached as a substitute. It occurs naturally in petroleum products like coke, coal tar and gasoline. Industrially the product is synthesized by methylation of benzene and toluene, it is produced as a part of benzene and toluene (BTX) aromatics extracted from products of catalytic reformates.
The product occurs in 3 isomeric forms, based on the position of two methyl groups attached to the benzene ring. P-xylene is used in the production of terephthalic acid and its derivative, dimethyl terephthalate.
Rising demand for polyethylene terephthalate (PET) for mineral water and carbonated drinks bottles owing to growth in the food and beverage industry is likely to drive the overall xylene market growth. The global PET bottles market reached a volume at over 15 million tonnes in 2018. The product is used as a raw material in the production of isophthalic acid, phthalic anhydride, terephthalic acid and it's derivative dimethyl terephthalate which in turn is used to produce PET bottles and polyester textiles thereby stimulating the product demand.
Incresing market demand from solvent application may stimulate the overall industry growth. Global solvent market is likely to be valued at over USD 55 billion by the year 2023. The product is used as a solvent in degreasing agent, adhesives and sealants. It is also used as a blending component with gasoline to increase its octane counts thereby boosting the xylene market demand.
The product cause irritation in eyes, skin and systematic toxicity by inhalation or ingestion. OSHA has regulated the level of xylene in workplace air up to 100 ppm during an 8-hour workday and 40-hour week, which may act as a restraint to the industry growth.
North America driven by Mexico, Canada and the U.S xylene market shall see significant growth during the projected time period. Rising demand from for protective and decorative coatings to enhance and protect the interior and exterior surface of building structure may drive the regional market growth. U.S. paint and coating market size is expected to be valued at over USD 30 billion by 2019. DIY ideology has attracted various interior decorators and professionals to implement these coatings, thereby increasing demand for residential or commercial decorative coatings thereby stimulating the regional product demand.
Europe xylene market, led by Germany, Italy, UK France shall witness substantial growth by the year 2025. Rising demand for PET bottles for packaging and storing of food and beverages are the key factors which may foster the regional market growth. PET bottles owing to their flexibility can be molded into numerous shapes which further improves their appearance and utility. At over 3.5 million tons of PET bottles were produced in the European market in 2017 which may drive the regional industry growth. thereby driving the regional product demand.
Asia Pacific led by India, Japan and China xylene market shall see significant growth during the foreseeable timeframe. Health conscious consumers are preffering packaged food products over openly sold food which in turn enhances the need of food packaging. India packaging industry is expected to be valued at over USD 70 billion by the year 2020. Several developments in packaging standards and smart packaging techniques have been designed to advance the food quality, thereby driving the industry growth.
Global xylene market is fragmented. Companies like Flint Hills Resources, BASF, Dow Chemicals, LG Chem, ConocoPhillips, Banner Chemicals Limited and Sinopec are the key market players.
Xylene Market, By Source, 2014-2025 (Tons) (USD Million)
- Petroleum products
- Methylation of Benzene and Toluene
Xylene Market, By Form, 2014-2025 (Tons) (USD Million)
- Mixed xylene
Xylene Market, By Application, 2014-2025 (Tons) (USD Million)
- Polyethylene terephthalate (PET)
Xylene Market, By End Use, 2014-2025 (Tons) (USD Million)
- Polymer industry
- Paint and coating
- Adhesives and sealants
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Flint Hills Resources
- Dow chemicals
- LG Chem
- Banner Chemicals Limited
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