The global Xylene market is expected to surpass a CAGR of 5% during the forecast period. Xylene is an organic petrochemical compound, which is obtained by catalytic reforming and the coal carbonization process in the production of coke fuel. Xylene is greasy and colorless in nature. Its selling properties include quick evaporation and dissolving ability, which is why it is used in a number of the end-user application. Xylene is generally used as a solvent in the printing, rubber, food manufacturing and leather industries. It is also used for thinning paints and varnishes and as a cleaning agent in laboratories.
Among all segments, Ortho-Xylene has witnessed the highest growth rate and will continue to do so in the forecast duration, owing to its extensive use as a solvent in several industries. Ortho-xylene is also used as an industrial feedstock to produce phthalic anhydride, which is then used in the production of plastic in end-user industries. In terms of application, the automotive segment is expected to see a considerable shift due to its extensive use in coating of automotive parts such as the engine, interior exterior parts and others. The rising demand for polyethylene terephthalate (PET) and pure isophthalic acid (PIA) is expected to drive the market during the forecast period. Furthermore, the increasing use of the product in various sectors such as paints coatings and textile will also contribute to the growth. Xylene’s toxic effects, growing environmental concerns plastic-free products are likely to hinder the growth of the market. Xylene is also a source of volatile organic compounds (VOC) is very harmful to the environment. Governments imposed regulations on the release of VOC in the atmosphere, which has made many end-user industries to look for alternatives, will act as a significant restraint. Nonetheless, new opportunities will come into place with the discovery of cheaper feedstock sources.
Top Companies Operating in the Global Xylene Market:
- BASF SE
- BP plc
- Chevron Phillips Chemical Company
- China National Petroleum Corporation
- Doe Ingalls
- DynaChem (Pty) Ltd.
- Eastman Chemical Company
- Exxon Mobil Corporation
- Lotte Chemical
- Mitsubishi Gas Chemical Company Inc.
- Reliance Industries Limited
- Saudi Arabian Oil Co.
- Honeywell International Inc.
- Toray Industries Inc.
- Puritan Products
- Royal Dutch Shell plc
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Major Factors Contributing to the Global Materials and Chemicals Market Revenue Growth
The global materials chemicals market revenue growth is primarily attributed to factors such as fast-paced industrialization across the globe, rising demand for essential consumer goods (including packaged foods beverages, personal care cosmetic products, and household hygiene products), and increasing applications of raw materials and chemicals in a wide range of industries including the buildings construction, food beverage, pharmaceutical, agriculture, and textile industries. Other important factors contributing to the global market revenue growth are increasing industrial applications of specialty chemicals, growing use of high-performance, organic agrochemicals in the agriculture industry, rising environmental concerns among the population, growing need for environmentally friendly and sustainable raw materials and chemicals, and increasing government investments in the materials chemicals industry.
Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Xylene market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Xylene market size
2.2 Latest regional market trends
2.3 Emerging growth trends
- Competitive Outlook
3.1 Global Xylene market key players
3.2 Global Xylene size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Xylene market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Xylene Market Segmentation
- Mixed Xylene
- Plastics and Polymers
- Paints and Coatings
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