[Chemical Market Report] Paraxylene Market and Outlook Analysis: Current Trends, Consumption, Installed Capacity, Production Growth, Prospects for Growth by 2030

The global paraxylene market is likely to reach US$ 84.6 million by 2030, with an annual growth rate of more than 5.3%

Wilmington, Delaware, Sept. 29, 2023 (GLOBE NEWSWIRE) -- According to RationalStat analysis, Global Paraxylene Market is valued at a market value of US$ 59 million in 2023 and is predicted to rise at a substantial CAGR of 5.3% during the forecast period of 2023 and 2030.

Market Definition, Market Scope, and Report Overview

PX is an aromatic hydrocarbon compound that is one of three isomers of xylene, a clear, colorless liquid that is commonly used as a solvent and in the manufacture of numerous chemicals and plastics.

Paraxylene is primarily used in the synthesis of pure terephthalic acid (PTA) and dimethyl terephthalate (DMT), both of which are important raw materials in the creation of polyester fibers, films, and resins. Polyester is used extensively in textiles, packaging, bottles, and a variety of other uses.

• According to a deep-dive market assessment by RationalStat, the global Paraxylene market has been analyzed on the basis of market segments, including application, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
• Market intelligence for the global Paraxylene market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
• In addition, the long-term sector and products/services 10-year outlook and its implications on the global Paraxylene market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Paraxylene Market: Segmental and Market Share Analysis

• On the basis of end user, textile segment is expected to dominate the global paraxylene market. Rising populations and disposable incomes in these regions drive up demand for textiles.

Report Synopsis

Report Metrics	Details
Base Year	2023
Forecast Period	2023-2030
Base Year Market Size	US$ 59 million
Market Size Forecast	US$ 84.6 million
Growth Rate	5.3%
Key Market Drivers	Increasing demand from plastic industries Rising demand for polyester fibers and PET bottles Rising E-commerce
Companies Profiled	Braskem China National Petroleum Corporation ENEOS Corporation Exxon Mobil Corporation FUJAN REFINING & PETROCHEMICAL COMPANY LIMITED INEOS Indian Oil Corporation Limited Mangalore Refinery & Petrochemicals Ltd MITSUBISHI GAS CHEMICAL COMPANY INC. National Petrochemical Company

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Competition Analysis and Market Structure

Players engaged in the production and imports of paraxylene adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global paraxylene market include,

• In March 2023, Chiyoda Corporation, the University of Toyama, and HighChem reported the first successful CO2-based p-Xylene manufacturing and purification.
• In February 2023, Godrej & Boyce engaged with Tecnimont to deliver equipment to the integrated paraxylene-purified terephthalic acid (PX-PTA) Project at the Paradip refinery in Odisha.

Some of the prominent players and suppliers operating and contributing significantly to the global Paraxylene market growth include Braskem, China National Petroleum Corporation, ENEOS Corporation, Exxon Mobil Corporation, FUJAN REFINING & PETROCHEMICAL COMPANY LIMITED, INEOS, Indian Oil Corporation Limited, Mangalore Refinery & Petrochemicals Ltd, MITSUBISHI GAS CHEMICAL COMPANY INC., and National Petrochemical Company, among others.

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RationalStat has segmented the global Paraxylene market based on application, end user, and region

• Global Paraxylene Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application
  • Purified Terephthalic Acid (PTA)
  • Dimethyl Terephthalate (DMT)
  • Others
• Global Paraxylene Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by End User
  • Plastics
  • Textile
  • Food Packaging
  • Construction
  • Electronics
  • Others
• Global Paraxylene Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
  • North America Paraxylene Market
    • US
    • Canada
  • Latin America Paraxylene Market
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe Paraxylene Market
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe Paraxylene Market
    • Russia
    • Poland
    • Hungary
    • Other CIS Countries
    • Rest of Eastern Europe
  • Asia Pacific Paraxylene Market
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN
      • Indonesia
      • Thailand
      • Philippines
      • Vietnam
      • Malaysia
      • Rest of ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa Paraxylene Market
    • GCC
      • Saudi Arabia (KSA)
      • United Arab Emirates (UAE)
      • Rest of the GCC
    • South Africa
    • Nigeria
    • Turkey
    • Rest of the Middle East & Africa

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Key Questions Answered in the Paraxylene Report:

• What will be the market value of the global Paraxylene market by 2030?
• What is the market size of the global Paraxylene market?
• What are the market drivers of the global Paraxylene market?
• What are the key trends in the global Paraxylene market?
• Which is the leading region in the global Paraxylene market?
• What are the major companies operating in the global Paraxylene market?
• What are the market shares by key segments in the global Paraxylene market?  

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

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