M-Xylene Prices

M-Xylene Prices December 2023

The m-xylene prices in the United States for Q4 2023 reached 1117 USD/MT in December. The m-xylene prices saw a decline, influenced by a combination of softening feedstock costs and weaker downstream demand, particularly from the isophthalic acid sector. High inflation and interest rates compounded the market challenges, leading to cautious purchasing among buyers.

The price trend for m-xylene in China for Q4 2023, reached 988 USD/MT in December. The market reflected a downturn as economic uncertainties and reduced orders from the isophthalic acid sector dampened demand. This led to a notable reduction in imports and pressured domestic suppliers to lower prices to manage inventory levels.

The price trend for m-xylene in Germany for Q4 2023, reached 1047 USD/MT in December. The market was adversely affected by a broader economic downturn, which reduced industrial output and downstream chemical demand. Competitive pressures from Asian markets and high local inventory levels led to aggressive price reductions to clear stock, further pulling down market values.

M-Xylene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “M-Xylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of m-xylene pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of m-xylene at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of m-xylene price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing m-xylene price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

M-Xylene Market Analysis

The global m-xylene market size reached US$ 1.15 Million Tons in 2023. By 2032, IMARC Group expects the market to reach US$ 1.67 Million Tons, at a projected CAGR of 4.20% during 2023-2032.

• M-Xylene's efficacy as a solvent in paints and coatings enhances its application properties, making it indispensable in the automotive and construction industries for producing durable finishes and protective layers. According to the Economic and Market Report published by ACEA, in 2023 the global new car sales grew by nearly 10% with the EU experiencing a surge of almost 14%. New battery-electric car sales rose by 37% and global car production reached 76 million units. The EU recorded a significant surplus in new car trade totaling €90.6 billion. Additionally, its role in manufacturing polyester fibers and resins is crucial for the textiles and electronics sectors providing essential materials for clothing, furnishings and electronic components. These diverse industrial applications ensure consistent and significant market demand for m-xylene, as these sectors rely heavily on its chemical properties to maintain product quality and performance.
• M-Xylene is an indispensable raw material in the chemical industry primarily used to produce phthalic anhydride, isophthalic acid and dimethyl terephthalate. Phthalic anhydride is vital for manufacturing plasticizers which enhance the flexibility of plastics. Isophthalic acid is used to produce high-performance resins and coatings with superior thermal and chemical resistance. Dimethyl terephthalate is a key intermediate in making polyester fibers and films, extensively used in textiles and packaging. The widespread applications of these derivatives in industries such as automotive, construction, and consumer goods significantly drive the demand for m-xylene in chemical production.
• The expanding automotive and construction industries, especially in emerging economies, significantly boost the demand for m-xylene. In the automotive sector, m-xylene is crucial for manufacturing paints, coatings, and synthetic materials that enhance vehicle durability and aesthetics. Similarly, in construction, m-xylene-derived products are essential for high-performance coatings and resins that ensure structural integrity and longevity. The rapid growth of these sectors in countries like China and India drives the increased consumption of m-xylene, fueling market expansion. For instance, China's construction industry, with a 2022 output value exceeding 31 trillion yuan has focused on tech-driven transformation resulting in innovative projects like the "zero-altitude astronomical observation station" and high-precision positioning technology for ultra-high-rise buildings. With a strong emphasis on green construction methods companies are achieving green and low-carbon development throughout the lifecycle of structures. This transformation is contributing to market expansion and improved quality and efficiency.

M-Xylene News

The report covers the latest developments, updates, and trends impacting the global m-xylene market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in m-xylene production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the m-xylene price trend.

Latest developments in the m-xylene industry:

• In February 2024, LOTTE Chemical and LOTTE Fine Chemical announced the completion of the construction of the Yeosu HEC production plant, enhancing their specialty product offerings. The new plant allows LOTTE Chemical to secure customers for EO products and establish a consignment profit model. At the same time, LOTTE Fine Chemical strengthens its HEC business by ensuring a stable procurement of raw materials. The cooperative project signifies a strategic move to expand their specialty products and create a strong foundation for future growth.
• In July 2024, BASF and ENGIE agreed to a 7-year Biomethane Purchase Agreement in Europe. Under the deal, ENGIE will supply BASF with 2.7 to 3.0 terawatt hours of biomethane. This move supports BASF's commitment to sustainability by reducing its carbon footprint. The agreement also allows BASF to offer products with lower or zero Product Carbon Footprints to its customers. Biomethane is a renewable gas that contributes to reducing greenhouse gas emissions compared to fossil resources.

Product Description

M-Xylene, a chemical compound with the molecular formula C₆H₄(CH₃)₂, is an aromatic hydrocarbon classified as one of the three isomers of xylene. It is characterized by its structure where two methyl groups (-CH₃) are attached to adjacent carbon atoms on the benzene ring, specifically located at the meta (1,3-) positions. M-Xylene is a colorless, flammable liquid with a sweet odor, commonly used as a precursor in the production of various chemicals such as phthalic anhydride, isophthalic acid, and dimethyl terephthalate. It finds extensive industrial applications, including as a solvent in paint and coating formulations, in the manufacture of polyester fibers and resins, and as a component in gasoline blending. Due to its chemical properties and industrial uses, m-xylene is produced in large quantities globally, contributing significantly to the chemical and petrochemical sectors.

Regional Coverage

The report provides a detailed analysis of the m-xylene market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the m-xylene price trend.

Global M-Xylene Price

The report offers a holistic view of the global m-xylene pricing trends in the form of m-xylene price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into m-xylene historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into m-xylene price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed m-xylene demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe M-Xylene Price

The European m-xylene market faced significant pressure during the fourth quarter of 2023, influenced by geopolitical strife and economic challenges. Prices fell as the market in Germany reacted to an economic slowdown, affecting industrial production and downstream chemical demand. The broader European context was strained by ongoing conflicts and energy market shifts, which led to fluctuations in chemical prices. Additionally, interest rates and high inflation further strained consumer spending power across Europe. Despite lower feedstock costs, the lack of demand encouraged manufacturers to destock, leading to a surplus that further lowered m-xylene prices across the region.

This analysis can be extended to include detailed m-xylene price information for a comprehensive list of countries.

North America M-Xylene Price

In North America, the m-xylene market experienced deflation in Q4 of 2023, impacted by various macroeconomic factors. Although feedstock pressures were minimal, the persistent high interest rates and inflation affected consumer purchasing power. The domestic market demand was further weakened by tepid responses from sectors like the downstream Isophthalic acid, primarily due to low consumption rates in PET resin industries and broader economic uncertainties. Supply chain disruptions, including issues with the Panama Canal and the Red Sea, did not significantly hinder material availability, allowing sufficient supply to meet the reduced demand.

Specific m-xylene historical data within the United States and Canada can also be provided.

Middle East and Africa M-Xylene Price

The report explores the m-xylene pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on m-xylene prices for countries can also be provided.

Asia Pacific M-Xylene Price

During the latter part of 2023, m-xylene prices in the Asia Pacific reflected broader challenges in the chemical sector, with economic slowdowns, supply overages, and muted demand contributing to price declines. Besides, the feedstock costs did not provide much support to m-xylene pricing even with the turbulence in the market of crude oil due to Middle Eastern geopolitical tensions. Demand within the domestic market remained low, particularly from the Isophthalic acid industry, and slight improvements in manufacturing conditions did not offset the overall sluggish market. South Korea aimed to stabilize its manufacturing sector, evidenced by marginal PMI improvements, and the surplus inventory encouraged manufacturers to offer discounts, exacerbating the price drops.

This m-xylene price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America M-Xylene Price

The analysis of m-xylene prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region..

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of m-xylene pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting m-xylene price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The m-xylene price charts ensure our clients remain at the forefront of the industry.