Overview The two primary raw materials used in the production of plastic films and sheets are polyethylene and polypropylene.
Snapshot The global market for paraxylene is driven by the significant growth observed across the global polyester market in the past few years, which is led by the rising demand from textile applications, and the high demand for polyethylene terephthalate PET in Asia Pacific.
Although the market is expected to embark upon a smooth growth path in the region in the next few years, it will witness limited growth avenues in developed regions such as North America and Europe. Strict government regulations regarding proper use of non-biodegradable materials and rising consumer awareness about the use of plastic-free products will have the most drastic influence on the consumption of paraxylene across these regions.
Nevertheless, the global paraxylene market will continue to exhibit growth at a healthy pace owing to demand across the textile and packaging industry and expand at a 7. The segment is expected to remain the most lucrative application area of the market and witness a slight rise in its stake in the global market bychiefly owing to the high demand from the polyethylene terephthalate PET industry.
Demand for paraxylene across these application areas is expected to achieve little or no rise in the next few years. Asia Pacific to Remain Hub of Market Development Backed by high demand in China, the market for paraxylene in Asia Pacific has emerged as the most lucrative regional market across the globe.
Over the period between andChina is expected to maintain its top spot in the Asia Pacific paraxylene market and continue to have a notable influence on the global market owing to the high consumption of paraxylene for the manufacturing of PET.
However, oversupply of paraxylene in Asia Pacific and increase in consumer awareness about plastic-free products are estimated to hamper market growth to a certain extent.
Methodology and Scope Paraxylene is an aromatic hydrocarbon, which is used as feedstock to manufacture industrial chemicals, notably purified terephthalic acid PTA and dimethyl terephthalate DMT.
PET is used to produce bottles, which are widely used as containers for soda, water, and other beverages due to the superior physical attributes of PET. PET is shatter resistant, strong, and light in weight. It is used in clothing, furnishings, and technical textiles.
Polyester is mostly preferred over cotton and other natural fibers due to its low cost and easy availability.
PET possesses high strength-to-weight ratio and is non-reactive to food and beverages. It is a transparent thermoplastic; therefore, it is preferred in food packaging. This is anticipated to drive the paraxylene market in Asia Pacific. Fuelled by significant gains, PTA and PET producers in Asia Pacific have started to expand rapidly, the production capacity which is likely to exceed the demand in the next few years.
Market numbers given in the report describe the demand for global paraxylene, but not production. The paraxylene report also analyzes several driving and restraining factors and their impact on the market during the forecast period. Primary research represents the majority of our research efforts, supplemented by extensive secondary research.
Secondary research also includes a search of technical writing, recent trade, internet sources, and statistical data from trade associations, government websites and agencies.
Segmentation The report provides comprehensive analysis of the paraxylene market by key applications. It segments the market into the following key applications: The report further provides volume and revenue for each application segment for each region.
Based on application and country, the report examines the attractiveness of each segment with the help of an attractiveness tool. The study comprises value chain analysis, which provides enhanced understanding of key players in the supply chain from raw material producers to end-users.
Competitive Landscape The report includes an outline of the market share of key companies in the global paraxylene market.
Market share of companies has been derived based on production by manufacturers of paraxylene. Profiles of key players include vital parameters such as financial overview, business strategy, company overview, and current developments. The report segments the global paraxylene market as follows: Paraxylene Market — Application Analysis.Pike Place Market is Seattle’s original farmers market and the center of locally sourced, artisan and specialty foods.
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