Xylene Market Quadruples with new product launch and M&A Activities by 2023; Declares MRFR :

Pune, India, February 28, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Xylene Market.

Market Overview:

Xylene is used in a wide variety of applications, as it offers versatile nature, abrasion resistance, and provides high performance to the product. Thus, they are used in various applications such as automotive, textile, chemical, oil & gas, leather, paints & coatings, rubber, and others. The global xylene market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the global market and is projected to continue leading owing to the increasing consumption of xylene in applications such as automotive, textile, chemical, oil & gas, leather, paints & coatings, and others. It is estimated that the automotive segment is set to observe the highest CAGR in the market due to the growing use of organic compounds to improve the performance and increase the life cycle of the product. Moreover, increasing demand for xylene as a solvent in paint thinners, nail polish removers, glues, and others is likely to witness a rapid growth during the forecast period. These factors have led China, India, and Japan to be the major players in this region.

The North American market is expected to grow at a healthy CAGR due to extensive consumption of xylene in paints & coating, oil & gas, chemicals, and others. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in the end-use industries. The growing demand for synthetic rubber and plastics made from xylene are estimated to drive the market during the forecast period.

A notable development is achieved in Europe due to the growing demand for light-weight materials in construction, packaging, cosmetics, and others. The growing innovation coupled with technology has boosted the market to witness a growth. Thus, countries such as Germany, the U.K, and Italy are the major contributors to this market.

A considerable development is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of hydrocarbons in major industries. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing production of xylene in refineries.

The global xylene market share, by region

Segmentation

The global xylene market is segmented into type and application. On the basis of the type, the market is segregated into o-xylene, m-xylene, and p-xylene segments. The market for the application is further categorized into automotive, textile, chemical, oil & gas, leather, paints & coatings, rubber, and others.

Competitive Analysis

Some of the well-known players operating in the global xylene market are Eastman Chemical Company (U.S.), China National Petroleum Corporation (China), BASF SE (Germany), Huntsman Corporation (U.S.), Chevron Philips Chemical Company (U.S.), TORAY INDUSTRIES, INC. (Japan), Formosa Plastics Corporationย  (Taiwan), The ExxonMobil Corporation(U.S.), The Dow Chemical Company (U.S.) and LG Chem (South Korea) among others.