Global Paraxylene Industry Report 2023: A $65.9 Billion Market by 2028 - The Key Ingredient in Eco-Friendly Bioplastics Driving Demand

News provided by

Oct 03, 2023, 17:30 ET

DUBLIN, Oct. 3, 2023 /PRNewswire/ -- The "Paraxylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

Paraxylene, also recognized as PX or P-Xylene, stands as an aromatic hydrocarbon compound. It presents itself as a colorless, transparent, highly flammable, and hazardous chemical, with its origins rooted in benzene-derived products.

The production of paraxylene involves a complex process, commencing with the catalytic reforming of petroleum derivatives and culminating in separation via crystallization, distillation, and the reaction of ethylbenzene. Its primary role lies in serving as a fundamental raw material for the manufacturing of industrial chemicals, including purified terephthalic acid (PTA) and purified dimethyl terephthalate (DMT), among others. Additionally, it extends its utility to the creation of diverse products such as packaging materials, polyester fibers, construction materials, and more.

The surging global demand for plastics emerges as the pivotal force propelling the paraxylene market forward. Paraxylene assumes a central role in the plastic production process, notably contributing to the creation of polyethylene terephthalate (PET) bottles that serve as ubiquitous containers for beverages like soda, water, and various other drinks. Moreover, paraxylene finds application in crafting an array of everyday items, including containers for cosmetics and toiletries, as well as materials for curtains, clothing, and upholstery.

Furthermore, the emergence of bio-based paraxylene signifies a substantial stride in market expansion. Heightened environmental consciousness has prompted consumers to seek eco-friendly alternatives, prompting the widespread adoption of bioplastics, where bio-based paraxylene plays a pivotal role. These bioplastics are rapidly gaining traction across industries as sustainable substitutes for conventionally used plastics. Additionally, the thriving packaging sector lends further impetus to market growth.

The latest report from the publisher offers an in-depth exploration of the global paraxylene (PX) market, encompassing all essential facets. This comprehensive coverage ranges from a macro-level market overview to micro-level insights into industry performance, recent trends, key drivers, challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, and more.

Entrepreneurs, investors, researchers, consultants, business strategists, and anyone with a stake or interest in the paraxylene (PX) market will find this report an indispensable resource for making informed decisions and gaining a competitive edge.

Key Questions Answered in This Report

What was the size of the global paraxylene (PX) market in 2022?
What is the expected growth rate of the global paraxylene (PX) market during 2023-2028?
What are the key factors driving the global paraxylene (PX) market?
What has been the impact of COVID-19 on the global paraxylene (PX) market?
What is the breakup of the global paraxylene (PX) market based on the application?
What are the key regions in the global paraxylene (PX) market?
Who are the key players/companies in the global paraxylene (PX) market?

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being

Braskem
China National Petroleum Corporation
ENEOS Corporation
ExxonMobil Corporation
Fujian Refining & Petrochemical Company Limited
Mangalore Refinery & Petrochemicals Ltd (Oil and Natural Gas Corporation Limited)
Mitsubishi Gas Chemical Company Inc.
National Petrochemical Company
PT Pertamina
Reliance Industries Limited
SK incheon petrochem Co. Ltd.
Toray International Inc.

Key Market Segmentation:

Breakup by Type:

Purified Terephthalic Acid (PTA)
Dimethyl Terephthalate (DMT)
Others

Breakup by End Use Industry:

Plastics
Textile
Others

Breakup by Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

For more information about this report visit https://www.researchandmarkets.com/r/d9f35w

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Media Contact in the release document to be replaced with:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets