Global Paraxylene Market is expected to reach $79.3 billion by 2024 growing at a CAGR of 9.7% from 2016 to 2024

Global Paraxylene Market is expected to reach $79.3 billion by 2024 growing at a CAGR of 9.7% from 2016 to 2024. Paraxylene, also known as p-xylene, is a chemical essential for producing a diverse range of polyethylene terephthalate (PET) and fiber consumer products. It is mostly used for the production of fiber, film, and bottle resins, while it is also used in small amount as solvent and to produce herbicides, and di-paraxylene. PET bottles are widely used for water and carbonated beverages owing to its non-breakage properties and carbon dioxide barrier properties. Moreover, technological advancements have enabled the development of new process and reconfigure the aromatics complex to increase production capacity.

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Increasing demand for polyesters, growing application segments, increased conservation efficiency, and low manufacturing cost are the key factors driving the growth of the global paraxylene market. However, increasing popularity of bio-based products, and complex formation process could be a major hindrance for the market growth. Furthermore, technological advancements and market expansion would create growth opportunities in coming years.

The global paraxylene market is segmented as end user, application, and geography. End user includes packaging, polyester fiber, and other end users. Application is bifurcated as purified terephthalic acid (PTA), dimethyl-terephthalate (DMT), di-paraxylene (DI-PX), and other applications.

Based on geographical analysis, paraxylene market is segmented into North America, Europe, Asia-Pacific, Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Germany, Italy, France, and rest of Europe. Asia-Pacific is segmented into China, India, Japan, South Korea, and rest of Asia-Pacific, while RoW is bifurcated into South America, Middle East, and Africa.

The key market players operating in this segment includes Toray Industries Inc., British Petroleum PLC, ONGC, JX Nippon Oil & Energy Corp., Reliance Industries Ltd., Teijin Fibers, S-Oil Corporation, CNOOC Limited, BASF SE, and Chevron Phillips Chemical Company LLC, among others.

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The key takeaways from the report 

The report will provide detailed analysis of Global Paraxylene Market with respect to major segments such as end user, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Paraxylene Market will be included in the report
Profile of the key players in the Global Paraxylene Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Paraxylene Market

End User Segments

Packaging
Polyester Fiber
Other End Users
Application Segments

Purified Terephthalic Acid (PTA)
Dimethyl-Terephthalate (DMT)
Di-Paraxylene (DI-PX)
Other Applications
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Geographical Segments:

North America

U.S.
Canada
Mexico
Europe

UK
Germany
Italy
France
Rest of Europe
Asia-Pacific

China
India
Japan
South Korea
Rest of Asia-Pacific
RoW

South America
Middle East
Africa
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