Paraxylene (PX) Market Size, Price Trends, Demand, Outlook and Forecast 2019-2024

Press Release:

Global Paraxylene (PX) Market Stimulated by the Thriving Packaging Industry

*As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Paraxylene (PX) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global paraxylene (PX) market is expected to grow at a CAGR of around 6% during 2019-2024. 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.

Paraxylene PX Market Report

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.

Key Questions Answered in This Report:

How has the global paraxylene (PX) market performed so far and how will it perform in the coming years?
What are the key regional markets in the global paraxylene (PX) industry?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the global paraxylene (PX) industry?
What are the key driving factors and challenges in the global paraxylene (PX) industry?
What is the structure of the global paraxylene (PX) industry and who are the key players?
What is the degree of competition in the global paraxylene (PX) industry?
What are the profit margins in the paraxylene (PX) industry?