20-Jul-17 The global Paraxylene market is expected to grow at US$81.02 bln by 2022 at a CAGR of 12.05% from 2016 to 2022, as per Persistence Market Research. The global paraxylene market can be broadly categorized as dimethyl terephthalate (DMT), purified terephthalic acid (PTA), dibutyl phathalate xylene (Di-PX), and others. PTA accounted for the largest share in the paraxylene market in 2013 owing to their increased use in the polyester chain. On the other hand, DMT was the fasted-growing segment in 2013. In recent years, the demand-supply gap in the paraxylene market broadened owing to increasing application of paraxylene in various other non traditional 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 PTA in polyester manufacturing is the most-dominant driver of the global paraxylene market. More than two-third of the total Paraxylene production was used in manufacturing pollster in 2013. Moreover, the rising demand for PET bottle resin due to increasing use of PET in soft drink and mineral water bottles is further boosting the paraxylene market.
Increasing use of bio-based paraxylene in bioplastics PET bottles (Bio-PET) and other bioplastics applications such as catering utensils is creating new opportunities for the Paraxylene market. Asia Pacific is the largest market for Paraxylene followed by Europe and North America. Asia Pacific and RoW (including Latin America, the Middle East, and Africa) are two of the fasted-growing Paraxylene markets, which witnessed an above-average growth in recent years. Country wise , China, the U.S., and India are some of the largest regional markets for paraxylene. China held the largest market share in 2013 in terms of regional consumption of paraxylene. The size of the peracetic acid market is relatively low in the RoW region. However, it is expected to witness healthy growth throughout the forecasted period, especially in petroleum-rich countries of the Middle East. 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.
Paraxylene (PX) had witnessed a rapid growth demand from last few years due to steady demand from polyester manufactures. It is majorly used for producing PTA (Purified Terephthalic acid) and DMT (Dimethyl Terephthalate) which are used in production of polyester. In 2015, the polyesters demand reached around USD 50 million tons making it the most commonly used synthetic fiber across the globe. A small amount of Para xylene is also used as a solvent and in the production of herbicides and di-Paraxylene. Rising demand for Paraxylene from numerous end user industries including packaging, textiles and construction materials is significantly influencing the demand for Para xylene.
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