Pune, India -- (SBWire) -- 05/14/2018 --Para-Xylene Market- Competitive Landscape

The Global Para-Xylene Market is a highly lucrative market driven by flourishing growth in packaging and petrochemical industry, along with the propelling textile industry. Exxon Mobil Corporation, the Dow Chemicals Company, Royal Dutch Shell plc. and BASF SE, China national Petroleum Corporation among others are some of the major players operating in this market. Most of these market participants are adopting the expansion and product launch tactics to strengthen their production capacities and market position. Taking account of these trends the Global Para-Xylene Market is projected to witness considerable competition over the forecast period of 2017-2023.

Asia pacific is expected to be the fastest growing region during the forecast years. The growing population in the developing countries and increasing GDP has augmented the demand for PET in the packaging sector coupled with increasing use of para xylene as pesticides, solvents and coatings especially in India and China is further expected to boost the market growth. However, strict regulation in North America and Europe is expected to show sluggish growth during the forecast years.

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.

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China has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption and capital investment for over two decades.

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.

End-Use Analysis:

Para Xylene Market, application is segmented into two types namely Purified Terephthalic Acid and Dimethyl Terephthalate (DMT). Purified Terephthalic Acid is expected to growth a significant growth rate due its extensive use in packaging and textile industry, Purified Terephthalic Acid and expanding textile industry is likely to drive the market. Dimethyl Terephthalate (DMT) is anticipated to grow at a faster pace for the forecasted period.

Global Para Xylene Market Players:

Honeywell UOP
BP
JX Nippon Oil & Energy Corp.
CNPC
S-Oil
Reliance Industries Ltd
Dragon
NPC Iran
FCFC
GS Caltex
KPPC
ONGC
Orpic
China National Offshore Oil Corporation

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