The Xylene Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Xylene Global Market Report 2024, The xylene market size has grown strongly in recent years. It will grow from $211.19 billion in 2023 to $225.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to paints and coatings industry, adhesive and sealant applications, expanding printing industry, polymer production, textile industry demand.
The xylene market size is expected to see strong growth in the next few years. It will grow to $292.08 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to green and sustainable alternatives, bio-based solvents, increased infrastructure projects, electronic industry expansion, stricter regulations. Major trends in the forecast period include technological advancements in formulations, shift towards bio-based xylene production, increased demand from end-use industries, focus on recycling and circular economy, technological innovations in xylene production.
The increasing demand for paraxylene across the globe contributes to the growth of the xylene market. Paraxylene is one of the isomers of xylene and is essential in the production of polyethylene terephthalate (PET). PET is used in industries such as beverage packaging, consumer goods, sheets & films, food packaging, automotive, and construction. The increase in the need for packaging materials has increased the demand for PET and hence contributed to the growth of the paraxylene market. To meet the increasing demand for paraxylene, new production plants have been set up. For instance, according to Jinlianchuang, a Chinese provider of comprehensive digital and intelligent services for bulk commodities, in 2022, China is expected to have 6 sets of paraxylene units in operation with a production capacity of 11.89 million tons/year with a 41.3% increase. The increase of production capacity will support the increasing demand for paraxylene. The growing demand for paraxylene thereby drives the xylene market.
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The xylene market covered in this report is segmented –
1) By Type: Ortho-Xylene, Meta-Xylene, Para-Xylene, Mixed Xylene
2) By Application: Automotive, Textile, Chemical, Oil and Gas, Leather, Paints and Coatings, Rubber
3) By End User: Plastics and Polymers, Paints and Coatings, Adhesives, Other End Users
The manufacturers in the xylene market are focusing on increasing their production capacity. The major players in the xylene market are investing in expanding the capacities of their existing plants and setting up new plants. For instance, in February 2022, Origin Materials, a US-based chemicals company launched its second plant in Geismar, Louisiana to make polyethylene terephthalate precursor p-xylene. In addition, in 2022, Iran will start the construction of a new 300,000 b/d refinery Shahid Soleimani which is expected to produce propylene, ethylene and paraxylene along with gasoline, diesel, jet fuel, and fuel oil. The project will be completed in next 5 years.
The xylene market report table of contents includes:
1. Executive Summary
2. Xylene Market Characteristics
3. Xylene Market Trends And Strategies
4. Xylene Market – Macro Economic Scenario
5. Global Xylene Market Size and Growth
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26. South America Xylene Market
27. Brazil Xylene Market
28. Middle East Xylene Market
29. Africa Xylene Market
30. Xylene Market Competitive Landscape And Company Profiles
Top Major Players:
- Saudi Arabian Oil Co
- China Petroleum & Chemical Corporation
- ExxonMobil Corporation
- Royal Dutch Shell PLC
- TotalEnergies SE
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