Global Paraxylene (PX) Market 2021 is expected to register a CAGR of 4.05%, during forecast period with Impact of Covid 19 Analysis

Paraxylene

Global “Paraxylene (PX) Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Paraxylene (PX) in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Paraxylene (PX) Market report categorizes the market based on manufacturers, regions, type, and application. Paraxylene (PX) Market reports offer a detailed assessment of the Paraxylene (PX) including enabling technologies, current market situation, market assumptions, restraining factors.

The Global Paraxylene (PX) market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

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The global paraxylene (PX) market is expected to register a CAGR of 4.05% during the forecast period, 2018 – 2023. Paraxylene is an important chemical feedstock and one of the three isomers of dimethyl benzene, known collectively as xylenes. Apart from being widely used in the production of PET, paraxylene is used as solvents, pesticides and coatings, and in the production of di-paraxylene and herbicides.

High Demand for PET

The sustenance and proliferation of the paraxylene market is majorly supported by the high, growing demand for PET in various industries. The major driver for the paraxylene market is the high demand for PET and low cost and superior physical properties of PET, compared to natural fibers. Flexible packaging is expected to grow continuously as major retail chains demand greater product protection and longer shelf life for various products. Because of its economic value, PET is preferred over different grades of polyester in the food & beverage and textile industries. Thus, with increasing demand for PET, the demand for paraxylene is projected to increase in the near future.

Purified Terephthalic Acid (PTA) Applications are expected to Increase

PX is primarily used for producing dimethyl terephthalate (DMT) and purified Terephthalic acid (PTA), which are consumed for manufacturing polyesters. PTA is a white, solid organic compound and principally used as a precursor to the polyester PET but other uses are in the making of cyclo-hexane-di-methanol, terephthaloyl chloride, plasticisers, and liquid crystal polymers. Besides PET, PTA is also used in the manufacture of polyester resin and polyester fiber. The polyester fiber accounts for the largest segment in the demand for PTA, which is almost two-thirds of the global PTA demand.

Asia-Pacific Dominates the Market

In terms of consumption, Asia-Pacific accounted for the largest market share, among all the regions including North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Increasing use of PET in the textile and food & beverage packaging industry is likely to boost the paraxylene demand. In addition, increasing investment for the research & development of bio-based paraxylene and other bio-plastic applications are expected to have a positive impact on the market for paraxylene in the region. Major global corporations have increased investments and acquisitions in ASEAN countries. For example, in August 2017, ExxonMobil bought Singapore’s Jurong Aromatics plant in order to penetrate the ASEAN market. The increasing interest of big players in the regional market is expected to significantly drive the market

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The global Paraxylene (PX) market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.

Paraxylene (PX) Market Report covers the Top Key-players in 2021:-

  • BASF SE
  • BP Plc.
  • Braskem
  • Chevron Phillips Chemical
  • CNPC
  • Dragon Aromatics
  • ExxonMobil Corporation
  • Fujian Refining & Petrochemical
  • JX Nippon Oil & Energy Corporation
  • MITSUBISHI GAS CHEMICAL CO. INC
  • NPC Iran
  • Reliance Industries Ltd. (RIL)
  • SINOPEC
  • Toray Industries

Highlighted points of Paraxylene (PX) Market Size:

  • Covers the varying market dynamics of the industry.
  • In-depth analysis of market risks, opportunities, limitations, and growth of the market.
  • Includes market driving and restraining factors.
  • Participants profiles along with product description, overview, and business data.
  • Include details of five years of forecast analysis by types, regions, and applications.

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This Paraxylene (PX) Market Research/analysis Report Contains Answers to your following Questions

  • Which Manufacturing Technology is Used for Paraxylene (PX)? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Paraxylene (PX) Market? What’s Their Company Profile, Their Product Information, Contact Information?
  • What Was Global Market Status of Paraxylene (PX) Market? What Was Capacity, Production Value, Cost and PROFIT of Paraxylene (PX) Market?
  • What Is Current Market Status of Paraxylene (PX) Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Paraxylene (PX) Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Paraxylene (PX) Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
  • What Is Paraxylene (PX) Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Paraxylene (PX) Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Paraxylene (PX) Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Paraxylene (PX) Industry?

Key Developments in the Paraxylene (PX) Market:
March 2018: Asian paraxylene-naphtha spread tumbles from high ground as feedstock costs rise

Reason to Purchase this ReportAnalyze various perspectives of the market with the help of Porter’s five forces analysisTo understand the dominating process type and filler used in the marketCountries expected to witness the fastest growth during the forecast periodIdentify the latest developments, market shares, and strategies employed by the major market players3-month analyst support, along with the Market Estimate sheet (in excel)

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Finally, the report Global Paraxylene (PX) Market 2021 describes the Paraxylene (PX) industry expansion game plan, the Paraxylene (PX) industry knowledge supply, appendix, analysis findings, and the conclusion.

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