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Paraxylene (PX) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global paraxylene (PX) market is expected to exhibit moderate growth during 2021-2026. Paraxylene, also known as PX or P-Xylene, is an aromatic hydrocarbon compound. It is a colorless, transparent, highly flammable and toxic chemical which is chemically derived from products containing benzene. It is produced through the process of catalytic reforming of petroleum derivatives and is separated through crystallization, distillation and the reaction of ethylbenzene. It is primarily used as a raw material in the manufacturing of industrial chemicals such as purified terephthalic acid (PTA), purified dimethyl terephthalate (DMT) and others. It also finds applications in the production of packaging materials, polyester fibres, construction materials, etc. Looking forward, the global paraxylene (PX) market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026).

The growing demand for plastics across the globe is the key factor driving the market. Paraxylene forms the core component in the production of plastic products. As a result, it is utilized for manufacturing polyethylene terephthalate (PET) bottles commonly used as containers for soda, water and other beverages. Paraxylene is also being used in the production of various household products such as containers for cosmetics and toiletries, and curtain fabrics, clothing and upholstery. Furthermore, the development of bio-based paraxylene is significantly contributing to the market growth. Increasing environmental awareness has encouraged consumers to seek eco-friendly options. Consequently, bioplastics, of which bio-based paraxylene is an integral component, are widely being incorporated across industries as a sustainable alternative to the conventionally used plastics. Other factors such as a thriving packaging industry are also contributing to the growth of the market.

IMARC Group’s latest report provides a deep insight into the global paraxylene (PX) market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the paraxylene (PX) market in any manner.

Report Coverage:

  • Historical, Current and Future Market Trends
     
  • Market Breakup by Application:
    • Purified Terephthalic Acid (PTA) 
    • Dimethyl Terephthalate (DMT)
    • Others
       
  • Market Breakup by End Use Industry:
    • Plastics
    • Textile
    • Others
       
  • Market Breakup by Region:
    • Asia Pacific
    • North America
    • Europe
    • Middle East and Africa
    • Latin America

 

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being BP PLC, Pertamina, Braskem, Chevron Phillips Chemical, China National Petroleum Corporation, Fujian Refining & Petrochemical Company Limited, ExxonMobil Corporation, JX Nippon Oil & Energy Corporation, Mitsubishi Gas Chemical Co. Inc., NPC Iran, Reliance Industries Ltd, Sinopec, Toray Industries, Mangalore Refinery and Petrochemicals Limited, S.K. Innovation Co. Ltd, etc.

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Properties
    4.3    Key Industry Trends
5    Global Paraxylene (PX) Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Application
    5.5    Market Breakup by End Use Industry
    5.6    Market Breakup by Region
    5.7    Market Forecast
6    Market Breakup by Application
    6.1    Purified Terephthalic Acid (PTA)
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Dimethyl Terephthalate (DMT)
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Others
        6.3.1    Market Trends
        6.3.2    Market Forecast
7    Market Breakup by End Use Industry
    7.1    Plastics
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Textile
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Others
        7.3.1    Market Trends
        7.3.2    Market Forecast
8    Market Breakup by Region
    8.1    Asia Pacific
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    North America
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Europe
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Middle East and Africa
        8.4.1    Market Trends
        8.4.2    Market Forecast
    8.5    Latin America
        8.5.1    Market Trends
        8.5.2    Market Forecast
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Value Chain Analysis
11    Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    BP PLC
        13.3.2    Braskem
        13.3.3    Pertamina
        13.3.4    Chevron Phillips Chemical
        13.3.5    China National Petroleum Corporation
        13.3.6    Fujian Refining & Petrochemical Company Limited
        13.3.7    ExxonMobil Corporation
        13.3.8    JX Nippon Oil & Energy Corporation
        13.3.9    Mitsubishi Gas Chemical Co. Inc.
        13.3.10      NPC Iran
        13.3.11      Reliance Industries Ltd
        13.3.12      Sinopec
        13.3.13      Toray Industries
        13.3.14      Mangalore Refinery and Petrochemicals Limited
        13.3.15      S.K. Innovation Co. Ltd

List of Figures

Figure 1: Global: Paraxylene Market: Major Drivers and Challenges
Figure 2: Global: Paraxylene Market: Sales Value (in Billion US$), 2015 - 2020
Figure 3: Global: Paraxylene Market: Breakup by Application (in %), 2020
Figure 4: Global: Paraxylene Market: Breakup by End Use Industry (in %), 2020
Figure 5: Global: Paraxylene Market: Breakup by Region (in %), 2020
Figure 6: Global: Paraxylene Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 7: Global: Paraxylene Industry: SWOT Analysis
Figure 8: Global: Paraxylene Industry: Value Chain Analysis
Figure 9: Global: Paraxylene Industry: Porter’s Five Forces Analysis
Figure 10: Global: Paraxylene (Purified Terephthalic Acid) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Paraxylene (Purified Terephthalic Acid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Paraxylene (Dimethyl Terephthalate) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Paraxylene (Dimethyl Terephthalate) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Paraxylene (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Paraxylene (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Paraxylene (Plastics) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Paraxylene (Plastics) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Paraxylene (Textile) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Paraxylene (Textile) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Paraxylene (Other Industries) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Paraxylene (Other Industries) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Asia Pacific: Paraxylene Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Asia Pacific: Paraxylene Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: North America: Paraxylene Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: North America: Paraxylene Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Europe: Paraxylene Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Europe: Paraxylene Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Middle East and Africa: Paraxylene Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Middle East and Africa: Paraxylene Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Latin America: Paraxylene Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Latin America: Paraxylene Market Forecast: Sales Value (in Million US$), 2021-2026

List of Tables

Table 1: Paraxylene: General Properties 
Table 2: Global: Paraxylene Market: Key Industry Highlights, 2020 and 2026
Table 3: Global: Paraxylene Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 4: Global: Paraxylene Market Forecast: Breakup by End Use Industry (in Million US$), 2021-2026
Table 5: Global: Paraxylene Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: Paraxylene Market: Competitive Structure
Table 7: Global: Paraxylene Market: Key Players

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Key Question Answered in this Report

According to the estimates by IMARC Group, the global paraxylene (PX) market is expected to witness a CAGR of 5% during 2021-2026.

Paraxylene is utilized for manufacturing polyethylene terephthalate (PET) bottles which is commonly used as containers for soda, water, and other beverages, thereby representing one of the key drivers for the global paraxylene (PX) market.

The emergence of bio-based paraxylene for reducing carbon footprints represents one of the key trends in the global paraxylene (PX) market.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous end-use industries for paraxylene.

On the basis of the application, the market has been divided into purified terephthalic acid (PTA), dimethyl terephthalate (DMT), and others. Among these, purified terephthalic acid (PTA) represents the largest segment.

On the basis of the end use industry, the market has been segmented into plastics, textile, and others. At present, plastics exhibit a clear dominance in the market.

Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.

 

The key companies in the global paraxylene (PX) market are BP PLC, Pertamina, Braskem, Chevron Phillips Chemical, China National Petroleum Corporation, Fujian Refining & Petrochemical Company Limited, ExxonMobil Corporation, JX Nippon Oil & Energy Corporation, Mitsubishi Gas Chemical Co. Inc., NPC Iran, Reliance Industries Ltd, Sinopec, Toray Industries, Mangalore Refinery and Petrochemicals Limited, S.K. Innovation Co. Ltd, etc.

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