Global paraxylene market is projected to register a substantial CAGR of 7.06 % in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year 2017. This rise in market value can be attributed to the booming polyester sector, usage of non- traditional feedstock and development of PET.
The report describes the systematic investigation of current scenario of the market, with the coverage of several market dynamics. This paraxylene report provides you with the valuable market reports and industry insights so that you don’t miss anything by any means. The report carries out market segmentation is in terms of markets covered, geographic scope, years considered for the study, currency and pricing, research methodology, primary interviews with key opinion leaders, DBMR market position grid, DBMR market challenge matrix, secondary sources, and assumptions. The report has been generated with the knowledge of skilful and innovative team.
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Increasing polyester industry sector is boosting the growth of the market
Growing production and surging demand for paraxylene is propelling the market growth
Expansion of PET and polyester in Asia-Pacific is contributing to the growth of the market
Usage of non-traditional feedstock and lower feedstock consumption are fuelling the growth of this market
Awareness regarding environmental concern is restricting the growth of the market
Demand increasing for natural substitutes over the conventional products hampers the growth of the market
Strict restrictions by the regulatory bodies to control the emission of paraxylene into water and water reservoirs is restraining the growth of the market
Key Developments in the Market:
In June 2019, McDermott International, Inc. received an award by Ningbo Union King Polyester Material Limited for the, process design engineering, technology license and operator training services for a large-scale, grassroots 1,600 KTA paraxylene (PX) plant at Ningbo Union King’s petrochemicals facility in Ningbo, China. This huge-scale PX plant will assist to meet the rising demand of petrochemicals in China
In March 2019, BP, Virent and Johnson Matthey have signed an agreement to increase the commercialization of Virent’s Bio forming system for the production of bio-paraxylene (PX), an important raw fabric for the manufacturing of renewable polyester. Both the companies are working together to scale up the bioforming process for the production of renewable fuels. This agreement will help BP to enables its current petrochemicals plants to generate a diverse product in support of the commitment to promote a low carbon future
Global paraxylene market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of paraxylene market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in global paraxylene market are National Petrochemical Company LI, MITSUBISHI GAS CHEMICAL COMPANY, INC., JXTG Nippon Oil & Energy Corporation, Exxon Mobil Corporation, FUJAN REFINING & PETROCHEMICAL COMPANY MITED, China National Petroleum Corporation , Chevron Phillips Chemical Company, PT Pertamina (Persero), Braskem, BP p.l.c., SK innovation Co.. Ltd, Mangalore Refinery & Petrochemicals Ltd., TORAY INDUSTRIES, INC., China Petrochemical Corporation, Reliance Industries Limited, BASF SE, Honeywell International Inc, Dragon Oil (Holdings) Limited, S-OIL CORPORATION, GS Caltex India Pvt. Ltd and others.
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Segmentation: Global Paraxylene Market
Purified Terephthalic Acid (PTA)
Dimethyl Terephthalate (DMT)
By End User Industry
Middle East and Africa
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Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key Market players involved in this industry
Detailed analysis of the Market Segmentation
Competitive analysis of the key players involved
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