Para Xylene Market
Para Xylene Market Abstract:
Para Xylene Market is expected to grow at USD 81.02 billion by 2022 growing with the CAGR of 12.05% from 2016 to 2022.
Para Xylene (PX) had witnessed steady demand from last few years due to stable demand from polyester manufactures. It is majorly used for producing PTA (Purified Terephthalic acid) and DMT (Dimethyl Terephthalate). In 2015, the polyesters demand reached around USD 50 million tons making it the most commonly used synthetic fiber across the globe. Rising demand for para xylene from numerous end user industries including packaging, textiles and construction materials is significantly influencing the demand for para xylene.
Para Xylene Market is anticipated to grow at steady pace. Para xylene market is currently experiencing an up-cycle for producers. In recent years, new capacity coming on-stream has not kept pace with steadily increasing demand. Existing producers can capitalize in this environment by maximizing production. Since most plants are already operating at full capacity, further increases may require some type of modification. Developments in process technology are the key to enabling revamps that allow low cost expansions that can be executed quickly market is currently.
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Para Xylene Market Application:
Para Xylene is used in the production of Purified Terephthalic Acid (PTA) and Dimethyl Terephthalate (DMT) which is further used in production of polyester fiber, film, and resin for a variety of application. Due to downstream demand, the para xylene market is robust and is growing at 6% to 8% every year. By 2005, globally, the production of para xylene capacity has demanded by more than 5.5 million metric tons per annum, lowering the average capacity up to 85%.
Para Xylene (PX), an aromatic hydrocarbon, is the source for the commercial production of purified terephthalic acid (PTA) and dimethyl terephthalate (DMT), which are further used to produce polyester. The para xylene production process includes the conversion of naphtha into BTX, a mixture of benzene, xylene, and toluene, and the separation of PX by fractional crystallization. PX is an important petrochemical as its end-product polyester is used for various industrial purposes, including textile manufacturing and packaging. It also finds usage as a solvent, along with being the raw material to manufacture Di-PX and herbicides.
Para Xylene Market Key Players:
Para Xylene Market are Honeywell UOP, BP, JX Nippon Oil & Energy Corp., CNPC, S-Oil, Reliance Industries Ltd, and Dragon, NPC Iran, FCFC, GS Caltex, KPPC, ONGC, Orpic, China National Offshore Oil Corporation.
Reliance Industries contributes about 14% to the total Indian export it has presence in various sector. In India, Reliance is the largest producer of polyester fiber and yarn and the 5th largest producer of Para xylene.
Honeywell UOP, has developed and successfully commercialized its latest breakthrough in Para xylene technology. Use of ADS-37TM adsorbent, UOP’s latest adsorbent for the Parex TM Process, while carrying out a high capacity revamp, can result in a capacity increase in the range of 10 to 30% compared with operation with previous generation. The improvements associated with ADS-37TM adsorbent and high capacity revamp can be implemented quickly and at relatively lower cost.
Para Xylene Market Information- by Application (Plastic industry, Textile industry and others), by End-use (Purified Terephthalic Acid (PTA) and Dimethyl Terephthalate (DMT) and others), and by Region – Forecast till 2022.
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Para Xylene Market Regional Analysis:
The Asia-Pacific Para Xylene Market is anticipated to grow at fastest growing CAGR. Due to high production growth rate in the automotive industry in the region. The report estimates the size of the para xylene market, both in terms of volume and value. Asia-Pacific para xylene market is estimated to reach USD 9,909 million by 2022. The key driver of the market is the growing demand from the automotive, electrical & electronics market.
Increasing demand for polyester fiber in emerging markets of Brazil and India is anticipated to significantly influence the demand for the para xylene in the upcoming scenario. As per the Indian Chemical Industry Five Year Plan 2012-2017, the production of para xylene had reached in millions tons in 2016, whereas the consumption rate is anticipated to stand at USD 4.9 million tons in 2016.
In-addition, APAC region is the major producer of para xylene with several capacity expansions planned in India and China over the coming years. Within the Asia Pacific region, China is the largest consumer and producer of polyester and para xylene, vital for the country’s textile industry, which generated USD 290 billion of overseas sales. The regional market is also anticipated to experience oversupply after the upcoming capacities come into operation. High demand for polyester from packaging and textile industry coupled with rapid industrialization is anticipated to drive regional growth during the forecasted period. However, North America is expected to hold the second largest market share owing to the growth in the chemical industry as well as the expansion of the end user industries within the region. In 2016, the US consumed around USD 3.8 million tons of para xylene and a considerable proportion of this demand is met through imports.
Para Xylene Market Segmentation:
Para Xylene Market is majorly segmented on the basis of application and end-use. Based on end-use of para xylene the market is segmented into purified terephthalic acid, dimethyl terephthalate and others. Similarly, on the basis of application the market is classified into plastic industry, textile industry and others and others.
Para Xylene Market Table of Content:
2Scope of the Report
2.2Scope of the Study
2.2.2Assumptions & Limitations
3Market Research Methodology
4.1Five Forces Analysis
4.1.1Threat of New Entrants
4.1.2Bargaining Power of Buyers
4.1.3Threat of Substitutes
4.2Value Chain/Supply Chain of Global Paraxylene Market
5Industry Overview of Global Paraxylene Market
Para Xylene Market Table of Content to be Continue……,
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