Paraxylene Market, By Product Type (Phthalic Acid, Dibutyl Phathalate Xylene (Di-PX), Purified Terephthalic Acid (PTA), Dimethyl Terephthalate (DMT), Others)

Paraxylene market size is expected to grow at a compound annual growth rate of 7.3% for the forecast period of 2021 to 2028.  Data Bridge Market Research report on paraxylene market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market's growth.

Paraxylene is also known as P-Xylene or PX is a type of an aromatic hydrocarbon compound. It is a kind of transparent, colorless, extremely flammable and toxic chemical, chemically derived from products having benzene. It is usually produced through the procedure of catalytic reforming of petroleum derivatives and is estranged through distillation, crystallization and the reaction of ethylbenzene. 

View Detailed Analysis Report: https://www.databridgemarketresearch.com/reports/global-paraxylene-market

The rise in the production and surging demand for paraxylene is expected to influence the growth of the paraxylene market. In line with this, the increase in the demand for PET in beverage bottling, food packaging along with the automotive, electronics and construction industries as well as the development of bio-based paraxylene are also anticipated to act as key determinants favoring the growth of the paraxylene market over the forecast period of 2021 to 2028. Also the, rapid industrialization and urbanization in emerging economies and high demand for polyethylene terephthalate (PET) from the plastic industry are also expected to positively impact the growth of the paraxylene market. The major factor accountable for the growth of the market is the rapid expansion of PET and polyester.

However, the rise in the awareness regarding environmental concern and high demand for natural substitutes over the conventional products are likely to act as key restraints towards paraxylene market growth rate in the forecast period of 2021 to 2028, whereas the stringent restrictions by the regulatory bodies to control the emission of paraxylene into water and water reservoirs can challenge the growth of the paraxylene market in the above mentioned forecast period.

Furthermore, the rise in the use of bio-based paraxylene in bioplastics PET bottles (Bio-PET) and various other bioplastics applications such as catering utensils and the rise in the usage of non-traditional feedstock and lower feedstock consumption are expected to offer a variety of growth opportunities for the paraxylene market in the above mentioned forecast period.

Key Players Analysis:

The major players covered in the paraxylene market report are ENEOS Corporation, Exxon Mobil Corporation, FUJAN REFINING & PETROCHEMICAL COMPANY LIMITED, China National Petroleum Corporation, Chevron Phillips Chemical Company, PT Pertamina (Persero), Braskem, bp p.l.c., SK innovation Co.. Ltd, Mangalore Refinery and Petrochemicals Ltd., TORAY INDUSTRIES, INC., Reliance Industries Limited, Sinopec Catalyst CO.,LTD., Vizag Chemical, BASF SE, Honeywell International Inc, S-Oil Corporation,  GS Caltex India, Toyo Engineering Corporation and LOTTE Chemical CORPORATION, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Global Paraxylene Market Scope and Market Size

Paraxylene market is segmented on the basis of product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.

On the basis of product type, the paraxylene market is segmented into phthalic acid, dibutyl phathalate xylene (Di-PX), purified terephthalic acid (PTA), dimethyl terephthalate (DMT) and others.

The application segment for paraxylene market is segmented into textiles, electronics, food packaging, beverage bottling, construction and others.

Explore More Reports:

https://dbmrresearchreports.blogspot.com/2024/02/additive-manufacturing-market-growing.html

https://dbmrresearchreports.blogspot.com/2024/02/cellulose-market-would-rocket-up-to-usd.html

https://dbmrresearchreports.blogspot.com/2024/02/pulp-and-paper-market-size-share-key.html

https://dbmrresearchreports.blogspot.com/2024/02/liquefied-petroleum-gas-lpg-market.html

About Us:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market.

Contact Us:
Data Bridge Market Research
Tel: +1-888-389.80-2818 | +44 208 089 1725 | +852 8192 7475
Email: Corporatesales@databridgemarketresearch.com

This release was published on openPR.