-- Market Overview
Paraxylene is a colorless hydrocarbon of the aromatic series obtained by the distillation of camphor with zinc chloride. The product finds application in terephthalic acid (TPA), purified terephthalic acid (PTA), and dimethyl terephthalate (DMT). Paraxylene is widely used as a raw material for the production of purified terephthalic acid due to surging demand from the textile and packaging industry. PTA is increasingly used for the production of fiber, polyesters, and polyethylene terephthalate (PET). DMT is largely used for the manufacturing of engineering polymers. Growing demand for the product from apparel and textile industry as a result of rising aspiration based purchasing coupled with growing disposable income of the consumers is propelling the market growth. Paraxylene consumption is increasing from the household sector for the curtains and upholstery for decoration purpose. Rapidly expanding packaging industry with rising demand for the packaged food and beverages is another important driving factor for the growth of paraxylene market. Additionally, the product use is increasing in the manufacturing of containers for household chemicals, toiletries, and cosmetics.
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Key Points from Table of Content:
Global Paraxylene Market By End Use Industry
8.1 Introduction
8.2 Textile
8.2.1 Market Estimates & Forecast, 2017-2023
8.2.2 Market Estimates & Forecast By Region, 2017-2023
8.3 Packaging
8.3.1 Market Estimates & Forecast, 2017-2023
8.3.2 Market Estimates & Forecast By Region, 2017-2023
8.3 Others
8.3.1 Market Estimates & Forecast, 2017-2023
8.3.2 Market Estimates & Forecast By Region, 2017-2023
Market Segmentation
The global paraxylene market is segmented into applications, end-use industry, and region.
On the basis of the application, the paraxylene market is divided into terephthalic acid, purified terephthalic acid, and dimethyl terephthalate.
Based on the end use industry, the global paraxylene market is segmented into textile, packaging, and others.
Geographically, the market is segmented into five key regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis
Asia Pacific is leading the paraxylene market due to growing major end-use industries such as textile and packaging industry in this region. Growing textile industry in India with rising demand for the apparels from the expanding population is likely to propel the market growth. Moreover, increasing requirement for the packaged food products by the working population owing to convenience is stimulating the product demand.
North America and Europe are expected to propel the market growth during the review period due to the growing apparel industry with changing lifestyle and high per capita income of the consumers.
Competitive Analysis
Braskem
Chevron Phillips Chemical Company
BP p.l.c
Exxon Mobil Corporation
Reliance Industries Limited
China National Petroleum Corporation
GS Caltex India Pvt. Ltd.
Formosa Chemical & Fibre Corp.
Honeywell International Inc.
JXTG Holdings, Inc.
China Petrochemicals Corporation
S-OIL Corporation
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