Paraxylene Market size is forecast to reach US$68.5 billion by 2026 and is growing at a CAGR of 7.3% during 2021-2026. Paraxylene is a dimethyl benzene-derived aromatic hydrocarbon and isomer of the xylene molecule. Parylene is a general term for a specific family of paraxylene-based polymers. The mixed xylenes’ highest volume isomer is paraxylene (PX). Around 98% of PX is consumed in the polyester chain, mainly in the production of fibre, film. PX is utilised as a solvent and in the production of di-Paraxylene and herbicides.
Competitive Landscape:
The top 5 players in the Paraxylene industry are –
1. BP plc
2. Chevron Phillips Chemical
3. CNPC
4. ExxonMobil
5. Mitsubishi Gas Chemical
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Segmental Analysis:
1. Polyester coatings resins are made from purified terephthalic acid (PTA) and are used in the formulation of general metal, appliance, automobile, industrial maintenance, and coil coatings. PTA is most commonly used in polyester powder coating resins. It’s also been employed in unsaturated polyesters for applications using fiberglass-reinforced polymers.
2. PET bottles which are made from Paraxylene are commonly used for water, soft drink packaging due to their non-breakability, as well as carbonated beverages due to their good carbon dioxide barrier qualities. They are also low in weight, shatter-resistant, and have a high tensile strength.
3. Flexible packaging for retail and institutional food, medical, pharmaceutical, and industrial products, shrink and stretch films, retail shopping bags, consumer storage bags, and wrap and trash bags has grown steadily in recent years.
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Report Coverage |
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Report Attributes |
Details |
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By Application |
Terephthalic Acid (TPA),Dimethyle Terephthalate (DMT),Purified Terephthalic Acid(PTA),Herbicides, Others.
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By End Use Industry |
Automotive, Personal Care and Cosmetics, Food and Beverages, Industrial, Textile, Packaging, Others.
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By Geography |
North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)
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Market Drivers and Challenges:
1. Paraxylene is widely employed in the production of plastic products, and as a result, it is regularly used to make Polyethylene Terephthalate bottles, which is used to hold water, soda, and other liquids. Paraxylene is also used to make a variety of home items, including cosmetic containers, garments, curtain textiles, and other materials. One of the primary contributing factors in the paraxylene market demand is the development of bio-based paraxylene.
2. The paraxylene market has benefited from rising polyester fibre demand in various countries, including India, Bangladesh, and Brazil. Consumer demand for eco-friendly items has increased as environmental awareness has grown. Bioplastics, which are manufactured from paraxylene, is a component that is used in a variety of industries as a substitute for traditional plastic.
3. Xylene is a cyclic hydrocarbon that pollutes the environment. It is also utilized as a solvent in dyes, paints, polishes, medical technologies, and other industries. Xylene is quickly vaporized and divided into various innocuous compounds when exposed to sunshine.
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