Paraxylene Market: Information by Product Type (Phthalic Acid, Purified Terephthalic Acid, Dimethyl Terephthalate), Application (Textiles, Electronics, Food Packaging, Beverage Bottling, Construction, and Others) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2027
ID: MRFR/CnM/4449-HCR | February 2021 | Region: Global | 140 pages
Market Overview
Paraxylene is an aromatic hydrocarbon and isomer of xylene compound, which is derived from dimethylbenzene. Paraxylene is widely used as a feedstock in the production of terephthalic acid (TPA), purified terephthalic acid (PTA) and dimethyl terephthalate (DMT). TPA, PTA and DMT are used to manufacture polyethylene terephthalate (PET).
Paraxylene Market is projected to register a CAGR of more than 6% to reach a value of over USD 68 Billion by 2025. The major factor driving the growth of the global paraxylene market is the high demand for PET in beverage bottling, food packaging as well as automotive, electronics, and construction industries. This demand is attributed to the lightweight, shatterproof, recyclability, and anti-microbial characteristics of PET. The growth of these industries across the globe is driving the demand for PET, which drives the demand for TPA, PTA, and DMT, thus fueling the production of paraxylene. Rapid industrialization and urbanization in emerging economies such as India, Vietnam, Thailand, Brazil, Chile, and South Africa are projected to boost the demand for PET, thereby, propelling the growth of the paraxylene market. Stringent regulations by the US Environment Protection Agency and European Legislation for environment protection have augmented the demand for lightweight materials such as PET in major end-use industries. The technological advancements such as Plant PET Technology Collaborative (PTC) to produce 100% bio-based PET by Virent, Inc in 2015, which produces paraxylene using beet sugar instead of fossil fuels is an opportunity for the players in this market. Furthermore, a prototype of the first 100% PET bottle was shown by Coca-Cola Co in September 2015 at the World Expo in Milan. Stringent regulations on the usage of synthetic-based polymers to reduce the greenhouse gas emission is likely to fuel the demand for bio-based paraxylene in the coming years. However, the fluctuating prices of petroleum products as well as health effects associated with the exposure and inhalation of paraxylene are some of the factors restraining the market growth.
Versatile scope of application of paraxylene along with its extensive use in major end-use industries has led manufacturers to undergo various strategic growth initiatives such as expansion and acquisition. For instance, in August 2017, Exxon Mobil completed the acquisition of Jurong Aromatics Corporation’s largest facilities in Singapore. This acquisition increased ExxonMobil’s Singapore aromatics production to over 3.5 million tonnes per year, including 1.8 million tonnes of paraxylene.
Global Paraxylene Market Share, by Product Type, 2018 (%) 
Source: MRFR Analysis
Regional Analysis
The global paraxylene market, by region, has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest market share in 2018 on the backdrop of high consumption of paraxylene in PET production, which is further utilized in major end-use industries such as construction, automotive, packaging, and electronics. Fast-paced industrialization, improving economic conditions, supportive government policies, availability of cheap labor, and increasing exports coupled with growing population and changing lifestyles in the region are driving the growth of these industries, which in turn, fuel the demand for paraxylene in the region.
The large industrial base in Europe and North America coupled with the high demand for PET in automotive, electronics, healthcare, and construction industries are expected to drive the growth of the regional markets during the review period.
Industrialization in emerging economies such as Brazil and Chile is expected to drive the product demand in Latin America during the forecast period. Presence of oil & gas reserves in GCC, UAE, and Saudi Arabia is likely to propel the production and export of paraxylene, thereby leading to market growth during the assessment period.
Segmentation
The global paraxylene market has been segmented by product type, application, and region.
On the basis of product type, the global market is divided into phthalic acid, purified terephthalic acid, and dimethyl terephthalate.
Based on application, the global paraxylene market has been categorized into textiles, electronics, food packaging, beverage bottling, construction, and others.
Key Players
Some of the prominent players operating in the Global Paraxylene Market are Braskem (Brazil), BP p.l.c (UK), Chevron Phillips Chemical Company (US), Exxon Mobil Corporation (US), Reliance Industries Limited (India), China National Petroleum Corporation (China), JXTG Holdings, Inc (Japan), S-OIL Corporation (South Korea), Kuwait Aromatics Co (Kuwait), and MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan).
Intended Audience
- Paraxylene manufacturers
- Traders and distributors of paraxylene
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 68 Billion (2025) |
| CAGR | 6% (2017-2025) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Product Type, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Braskem (Brazil), BP p.l.c (UK), Chevron Phillips Chemical Company (US), Exxon Mobil Corporation (US), Reliance Industries Limited (India), China National Petroleum Corporation (China), JXTG Holdings, Inc (Japan), S-OIL Corporation (South Korea), Kuwait Aromatics Co (Kuwait), and MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan). |
| Key Market Opportunities | The technological advancements such as Plant PET Technology Collaborative (PTC) to produce 100% bio-based PET by Virent, Inc in 2015, which produces paraxylene using beet sugar instead of fossil fuels is an opportunity for the players in this market. |
| Key Market Drivers | The growth of these industries across the globe is driving the demand for PET, which drives the demand for TPA, PTA, and DMT, thus fueling the production of paraxylene. |
Frequently Asked Questions (FAQ) :
Valuation of The Global Paraxylene Market is poised to touch USD 68 BN by the end of 2025.
Paraxylene Market is projected to expand at over 6% CAGR during the assessment period (2019-2025).
Packaging is the largest application segment in The Global Paraxylene Market.
Asia Pacific holds the largest share in The Global Paraxylene Market, followed by North America and Europe, respectively.
Chevron Phillips Chemical Company (US), Braskem (Brazil), BP plc. (UK), Reliance Industries Limited (India), Exxon Mobil Corporation (US), China National Petroleum Corporation (China), Formosa Chemical & Fibre Corp. (Taiwan), GS Caltex India Pvt. Ltd. (South Korea), Honeywell International Inc. (US), China Petrochemicals Corporation (China), JXTG Holdings, Inc. (Japan), and S-OIL Corporation (South Korea), are some of the major players operating in The Paraxylene Market
TABLE OF CONTENTS
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw Material Suppliers
4.1.2 Manufacturers/Producers
4.1.3 Distributors/Retailers/Wholesalers/E-Commerce
4.1.4 End Use
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
5 Market Dynamics of Global Paraxylene Market
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Trends/Technology
6. Global Paraxylene Market, by Product Type
6.1 Introduction
6.2 Phthalic Acid
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast, by Region, 2020-2027
6.3 Purified Terephthalic Acid
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast, by Region, 2020-2027
6.4 Dimethyl Terephthalate
6.4.1 Market Estimates & Forecast, 2020-2027
6.4.2 Market Estimates & Forecast, by Region, 2020-2027
7. Global Paraxylene Market, by Application
7.1 Introduction
7.2 Textiles
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast, by Region, 2020-2027
7.3 Electronics
7.3.1 Market Estimates & Forecast, 2020-2027
7.3.2 Market Estimates & Forecast, by Region, 2020-2027
7.4 Food Packaging
7.4.1 Market Estimates & Forecast, 2020-2027
7.4.2 Market Estimates & Forecast, by Region, 2020-2027
7.5 Construction
7.5.1 Market Estimates & Forecast, 2020-2027
7.5.2 Market Estimates & Forecast, by Region, 2020-2027
7.6 Others
7.6.1 Market Estimates & Forecast, 2020-2027
7.6.2 Market Estimates & Forecast, by Region, 2020-2027
8. Global Paraxylene Market, by Region
8.1 Introduction
8.2 North America
8.2.1 Market Estimates & Forecast, 2020-2027
8.2.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.2.3 Market Estimates & Forecast, by Application, 2020-2027
8.2.4 US
8.2.4.1 Market Estimates & Forecast, 2020-2027
8.2.4.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.2.4.3 Market Estimates & Forecast, by Application, 2020-2027
8.2.5 Canada
8.2.5.1 Market Estimates & Forecast, 2020-2027
8.2.5.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.2.5.3 Market Estimates & Forecast, by Application, 2020-2027
8.3 Europe
8.3.1 Market Estimates & Forecast, 2020-2027
8.3.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.3.3 Market Estimates & Forecast, by Application, 2020-2027
8.3.4 Germany
8.3.4.1 Market Estimates & Forecast, 2020-2027
8.3.4.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.3.4.3 Market Estimates & Forecast, by Application, 2020-2027
8.3.5 France
8.3.5.1 Market Estimates & Forecast, 2020-2027
8.3.5.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.3.5.3 Market Estimates & Forecast, by Application, 2020-2027
8.3.6 Italy
8.3.6.1 Market Estimates & Forecast, 2020-2027
8.3.6.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.3.6.3 Market Estimates & Forecast, by Application, 2020-2027
8.3.7 Spain
8.3.7.1 Market Estimates & Forecast, 2020-2027
8.3.7.2 Market Estimates & Forecast, by Product Type,2020-2027
8.3.7.3 Market Estimates & Forecast, by Application, 2020-2027
8.3.8 UK
8.3.8.1 Market Estimates & Forecast, 2020-2027
8.3.8.2 Market Estimates & Forecast, by Product Type,2020-2027
8.3.8.3 Market Estimates & Forecast, by Application, 2020-2027
8.3.9 Russia
8.3.9.1 Market Estimates & Forecast, 2020-2027
8.3.9.2 Market Estimates & Forecast, by Product Type,2020-2027
8.3.9.3 Market Estimates & Forecast, by Application, 2020-2027
8.3.10 Poland
8.3.10.1 Market Estimates & Forecast, 2020-2027
8.3.10.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.3.10.3 Market Estimates & Forecast, by Application, 2020-2027
8.3.11 Rest of Europe
8.3.11.1 Market Estimates & Forecast, 2020-2027
8.3.11.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.3.11.3 Market Estimates & Forecast, by Application, 2020-2027
8.4 Asia-Pacific
8.4.1 Market Estimates & Forecast, 2020-2027
8.4.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.4.3 Market Estimates & Forecast, by Application, 2020-2027
8.4.4 China
8.4.4.1 Market Estimates & Forecast, 2020-2027
8.4.4.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.4.4.3 Market Estimates & Forecast, by Application, 2020-2027
8.4.5 India
8.4.5.1 Market Estimates & Forecast, 2020-2027
8.4.5.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.4.5.3 Market Estimates & Forecast, by Application, 2020-2027
8.4.6 Japan
8.4.6.1 Market Estimates & Forecast, 2020-2027
8.4.6.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.4.6.3 Market Estimates & Forecast, by Application, 2020-2027
8.4.7 Australia & New Zealand
8.4.7.1 Market Estimates & Forecast, 2020-2027
8.4.7.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.4.7.3 Market Estimates & Forecast, by Application, 2020-2027
8.4.8 Rest of Asia-Pacific
8.4.8.1 Market Estimates & Forecast, 2020-2027
8.4.8.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.4.8.3 Market Estimates & Forecast, by Application, 2020-2027
8.5 Middle East & Africa
8.5.1 Market Estimates & Forecast, 2020-2027
8.5.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.5.3 Market Estimates & Forecast, by Application, 2020-2027
8.5.4 UAE
8.5.4.1 Market Estimates & Forecast, 2020-2027
8.5.4.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.5.4.3 Market Estimates & Forecast, by Application, 2020-2027
8.5.5 Israel
8.5.5.1 Market Estimates & Forecast, 2020-2027
8.5.5.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.5.5.3 Market Estimates & Forecast, by Application, 2020-2027
8.5.6 North Africa
8.5.6.1 Market Estimates & Forecast, 2020-2027
8.5.6.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.5.6.3 Market Estimates & Forecast, by Application, 2020-2027
8.5.7 Turkey
8.5.7.1 Market Estimates & Forecast, 2020-2027
8.5.7.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.5.7.3 Market Estimates & Forecast, by Application, 2020-2027
8.5.8 Rest of Middle East & Africa
8.5.8.1 Market Estimates & Forecast, 2020-2027
8.5.8.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.5.8.3 Market Estimates & Forecast, by Application, 2020-2027
8.6 Latin America
8.6.1 Market Estimates & Forecast, 2020-2027
8.6.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.6.3 Market Estimates & Forecast, by Application, 2020-2027
8.6.4 Brazil
8.6.4.1 Market Estimates & Forecast, 2020-2027
8.6.4.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.6.4.3 Market Estimates & Forecast, by Application, 2020-2027
8.6.5 Argentina
8.6.5.1 Market Estimates & Forecast, 2020-2027
8.6.5.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.6.5.3 Market Estimates & Forecast, by Application, 2020-2027
8.6.6 Mexico
8.6.6.1 Market Estimates & Forecast, 2020-2027
8.6.6.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.6.6.3 Market Estimates & Forecast, by Application, 2020-2027
8.6.7 Rest of Latin America
8.6.7.1 Market Estimates & Forecast, 2020-2027
8.6.7.2 Market Estimates & Forecast, by Product Type, 2020-2027
8.6.7.3 Market Estimates & Forecast, by Application, 2020-2027
9. Company Landscape
9.1 Introduction
9.2 Market Strategy
9.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)
10. Company Profiles
10.1 Braskem
10.1.1 Company Overview
10.1.2 Financial Updates
10.1.3 Product/Business Segment Overview
10.1.4 Strategy
10.1.5 Key Developments
10.1.6 SWOT Analysis
10.2 BP p.l.c
10.2.1 Company Overview
10.2.2 Financial Updates
10.2.3 Product/Business Segment Overview
10.2.4 Strategy
10.2.5 Key Developments
10.2.6 SWOT Analysis
10.3 Chevron Phillips Chemical Company
10.3.1 Company Overview
10.3.2 Financial Updates
10.3.3 Product/Business Segment Overview
10.3.4 Strategy
10.3.5 Key Developments
10.3.6 SWOT Analysis
10.4 Exxon Mobil Corporation
10.4.1 Company Overview
10.4.2 Financial Updates
10.4.3 Product/Business Segment Overview
10.4.4 Strategy
10.4.5 Key Developments
10.4.6 SWOT Analysis
10.5 Reliance Industries Limited
10.5.1 Company Overview
10.5.2 Financial Updates
10.5.3 Product/Business Segment Overview
10.5.4 Strategy
10.5.5 Key Developments
10.5.6 SWOT Analysis
10.6 China National Petroleum Corporation
10.6.1 Company Overview
10.6.2 Financial Updates
10.6.3 Product/Business Segment Overview
10.6.4 Strategy
10.6.5 Key Developments
10.6.6 SWOT Analysis
10.7 JXTG Holdings, Inc.
10.7.1 Company Overview
10.7.2 Financial Updates
10.7.3 Product/Business Segment Overview
10.7.4 Strategy
10.7.5 Key Developments
10.7.6 SWOT Analysis
10.8 S-OIL Corporation
10.8.1 Company Overview
10.8.2 Financial Updates
10.8.3 Product/Business Segment Overview
10.8.4 Strategy
10.8.5 Key Developments
10.8.6 SWOT Analysis
10.9 Kuwait Aromatics Co.
10.9.1 Company Overview
10.9.2 Financial Updates
10.9.3 Product/Business Segment Overview
10.9.4 Strategy
10.9.5 Key Developments
10.9.6 SWOT Analysis
10.10 MITSUBISHI GAS CHEMICAL COMPANY, INC.
10.10.1 Company Overview
10.10.2 Financial Updates
10.10.3 Product/Business Segment Overview
10.10.4 Strategy
10.10.5 Key Developments
10.10.6 SWOT Analysis
11. Conclusion
LIST OF TABLES
Table 1 Global Paraxylene Market: by Region, 2020-2027
Table 2 North America: Paraxylene Market, by Country, 2020-2027
Table 3 Europe: Paraxylene Market, by Country, 2020-2027
Table 4 Asia-Pacific: Paraxylene Market. by Country, 2020-2027
Table 5 Middle East & Africa: Paraxylene Market, by Country, 2020-2027
Table 6 Latin America: Paraxylene Market, by Country, 2020-2027
Table 7 Global Paraxylene Product Type Market, by Regions, 2020-2027
Table 8 North America: Paraxylene Product Type Market, by Country, 2020-2027
Table 9 Europe: Paraxylene Product Type Market, by Country, 2020-2027
Table10 Asia-Pacific: Paraxylene Product Type Market, by Country, 2020-2027
Table11 Middle East & Africa: Paraxylene Product Type Market, by Country, 2020-2027
Table12 Latin America: Paraxylene Product Type Market, by Country, 2020-2027
Table 13 Global Paraxylene Application Market, by Regions, 2020-2027
Table14 North America: Paraxylene Application Market, by Country, 2020-2027
Table15 Europe: Paraxylene Application Market, by Country, 2020-2027
Table16 Asia-Pacific: Paraxylene Application Market, by Country, 2020-2027
Table17 Middle East & Africa: Paraxylene Application Market, by Country, 2020-2027
Table18 Latin America: Paraxylene by Application Market, by Country, 2016-2023
Table19 Global Product Type Market, by Region, 2020-2027
Table20 Global Application Market, by Region, 2020-2027
Table21 North America: Paraxylene Market, by Country, 2020-2027
Table22 North America: Paraxylene Market, by Product Type, 2020-2027
Table23 North America: Paraxylene Market, by Application, 2020-2027
Table24 Europe: Paraxylene Market, by Country, 2020-2027
Table25 Europe: Paraxylene Market, by Product Type, 2020-2027
Table26 Europe: Paraxylene Market, by Application, 2020-2027
Table27 Asia-Pacific: Paraxylene Market, by Country, 2020-2027
Table28 Asia-Pacific: Paraxylene Market, by Product Type, 2020-2027
Table29 Asia-Pacific: Paraxylene Market, by Application, 2020-2027
Table30 Middle East & Africa: Paraxylene Market, by Country, 2020-2027
Table31 Middle East & Africa: Paraxylene Market, by Product Type, 2020-2027
Table32 Middle East & Africa: Paraxylene Market, by Application, 2020-2027
Table33 Latin America: Paraxylene Market, by Country, 2020-2027
Table34 Latin America: Paraxylene Market, by Product Type, 2020-2027
Table35 Latin America: Paraxylene Market, by Application, 2020-2027
LIST OF FIGURES
FIGURE 1 Global Paraxylene Market Segmentation
FIGURE 2 Forecast Research Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Paraxylene Market
FIGURE 4 Value Chain of Global Paraxylene Market
FIGURE 5 Share of Global Paraxylene Market in 2020, by Country
FIGURE 6 Global Paraxylene Market, 2020-2027,
FIGURE 7 Global Paraxylene Market Size, by Product Type, 2020
FIGURE 8 Share of Global Paraxylene Market, by Product Type, 2020-2027
FIGURE 9 Global Paraxylene Market Size, by Application, 2020
FIGURE10 Share of Global Paraxylene Market, by Application, 2020-2027