Para xylene Market Overview:

The global para xylene market is expected to grow at USD 81.02 billion by 2022 growing with the CAGR of 12.05% from 2016 to 2022. The source for producing para xylene is naphtha. Para xylene (PX), an aromatic hydrocarbon, is the source for the commercial production of purified terephthalic acid (PTA) and dimethyl terephthalate (DMT), which are further used to produce polyester. The para xylene production process includes the conversion of naphtha into BTX, a mixture of benzene, xylene, and toluene, and the separation of PX by fractional crystallization. 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.

Para xylene (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-Para xylene. Rising demand for Para xylene from numerous end user industries including packaging, textiles and construction materials is significantly influencing the demand for Para xylene.

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Market Trend Growth rate:

Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of para xylene market. Detailed analysis is explained and given importance to with best working models.

Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, revenue, shares in mill UDS, growth rate of para xylene market during the forecast period of 2016 to 2022 is well explained.

The ongoing market trends of para xylene market and the key factors impacting the growth prospects are elucidated. With increase in the trend, the factors affecting the trend are mentioned with perfect reasons. Top manufactures, price, revenue, market share are explained to give a depth of idea on the competitive side.

Regional Analysis:

Geographically, maximum consumer of para xylene market is in Asia-Pacific followed by Europe and all of them contributes greatly in the growth of the market. North-America are facing sluggish market growth rate. Growth of para xylene market is Asia Pacific is maximum due to the growing use of PARA xylene for various applications along with macroeconomic growth of textile and plastic industry in the region.

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 is expected to reach 5.5 million tons in 2016 whereas the consumption rate is anticipated to stand at USD 4.9 million tons in 2016.

Key Players:

Key players of the global para xylene market are 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.

Reliance Industries contributes about 14% to the total Indian export it has presence in various sector. In India, Reliance is the largest producer of polyester fiber and yarn and the 5th largest producer of Para xylene.

Honeywell UOP, has developed and successfully commercialized its latest breakthrough in Para xylene technology. Use of ADS-37TM adsorbent, UOP’s latest adsorbent for the ParexTM Process, while carrying out a high capacity revamp, can result in a capacity increase in the range of 10 to 30% compared with operation with previous generation. The improvements associated with ADS-37TM adsorbent and high capacity revamp can be implemented quickly and at relatively lower cost.

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