New York, NY -- (SBWIRE) -- 12/11/2014 -- Paraxylene also known as PX or P-Xylene is an aromatic hydrocarbon compound, derived particularly from benzene. Paraxylene is a colorless, toxic sweet-smelling and highly flammable chemical. It is found naturally in petroleum and coal tar. Paraxylene or P-Xylene is an isomer of xylene compound derived from benzene. Some of the other isomers of xylene include O-xylene and M-xylene. One of the largest applications of paraxylene is found in large scale manufacturing of terephthalic acid for polyester; known as parylene. The production process of paraxylene is one of the most complicated among all the chemicals; simple crystallization of the xylene normally led to complex purification process owing to the formation of eutectic mixtures. It is manufactured by catalytic reforming of petroleum derivative such as naphtha and separated in a series of adsorption or crystallization, distillation, and reaction processes from ethyl benzene, o-xylene and m-xylene. The melting point of Paraxylene is highest among other isomers of xylene.

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On the bases of various end user applications, the global paraxylene market can be broadly categorized as dimethyl terephthalate (DMT), purified terephthalic acid (PTA), dibutyl phathalate xylene (Di-PX), and others. Purified terephthalic acid (PTA) holds the largest market share of paraxylene in 2013 owing to their increase use in polyester chain. Purified terephthalic acid (PTA) segment grasped the largest market share, whereas dimethyl terephthate (DMT) was the fasted growing segment in 2013.

In recent years the demand and supply gap has broadened in paraxylene market owing to the increasing application of it in various other nontraditional applications such as PET bottles. However the production remains tight with limited number of manufacturers; owing to complicated manufacturing process associated with the paraxylene. Increasing use of purified terephthalic acid (PTA) consumption in polyester manufacturing is the most dominant driver of global paraxylene market. More than two third of the total Paraxylene production are used in the pollster manufacturing in 2013. Moreover the rising demand of the PET bottle resin market due to increasing use of PET in soft drink and mineral water bottles is further boosting the market of paraxylene.

The increasing use of bio-based paraxylene in bioplastics PET bottle (Bio-PET) and other bioplastics application such as catering utensils is laying new market opportunity for the Paraxylene market.

Asia Pacific is the largest market of Paraxylene followed by Europe and North America. Asia Pacific and RoW (include Latin America, Middle East, and Africa) are two of the fasted growing Paraxylene market, showing an above average growth in recent years. Country wise, China, the U.S. and India are some the largest regional market of paraxylene. China held the largest market share in terms of regional consumption of paraxylene in 2013. The size of peracetic acid market is relatively low in the RoW region, but expected to display a healthy growth throughout the forecasted period especially in petroleum rich countries of Middle East.

Some of the major companies operating in global Paraxylene (Px) market include, British Petroleum (BP), JX Nippon Oil & Energy, Reliance Industries, ExxonMobil, BASF, Braskem, Chevron Phillips Chemical, Dragon Aromatics, Fujian Refining & Petrochemical, Toray Industries, Pemex, Kuwait Paraxylene Production and Samsung Total Petrochemicals.

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Key points covered in the report:

1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)

2) The report covers geographic segmentation

North America
Europe
Asia
RoW

3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020

4) The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.

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