Xylene Market Share, Size, Global Trends, Key Players, Opportunities by 2023

Posted by Moin Patni on November 29th, 2018

Xylene Market

Xylene Market Overview: Xylene is an organic compound obtained by catalytic reforming and coal carbonization process in the production of coke fuel. It is a hydrocarbon with greasy, and colourless in nature. Moreover, its quick evaporation, good dissolving ability, and growing consumption in major industries are the important trends and factors influencing its market confidently. On account of its properties, xylene is used in various applications such as automotive, textile, chemical, oil & gas, leather, paints & coatings, rubber, and others.

Xylene Market, the o-xylene segment has witnessed a significant growth due to its extensive use as a solvent in paint thinners, nail polish removers, glues, and correction fluids. It is widely utilized as an industrial feedstock for producing phthalic anhydride. This intermediate is then used in the production of plastic from vinyl chloride in end-use industries.

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Moreover, xylene is also used as an alternative fuel in heavy engines. It is estimated that the o-xylene segment is set to grow at a higher CAGR than the other segments owing to its boundless use as intermediates, solvents, and others in oil & gas industries. The growing production of polyethylene terephthalate (PET) and pure isophthalic acid (PIA) in major industries are set to drive the xylene market over the assessment period, 2018-2023. The market by application is segregated into automotive, textile, chemical, oil & gas, leather, paints & coatings, rubber, and others.

Xylene Market Key Players: Xylene Market are: Eastman Chemical Company (U.S.), China National Petroleum Corporation (China), BASF SE (Germany), Huntsman Corporation (U.S.), Chevron Philips Chemical Company (U.S.), TORAY INDUSTRIES, INC. (Japan), Formosa Plastics Corporation (Taiwan), The ExxonMobil Corporation(U.S.), The Dow Chemical Company (U.S.) and LG Chem (South Korea) among others.

Xylene Market Segmental Analysis: Xylene Market is segmented into the type and application. On the basis of the type, the market is segregated into o-xylene, m-xylene, and p-xylene segments. The market by application is further categorized into automotive, textile, chemical, oil & gas, leather, paints & coatings, rubber, and others.

Xylene Market Application: Xylene is used in a wide variety of applications, as it offers versatile nature, abrasion resistance, and provides high performance to the product. Thus, they are used in various applications such as automotive, textile, chemical, oil & gas, leather, paints & coatings, rubber, and others. The global xylene market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the global market and is projected to continue leading owing to the increasing consumption of xylene in applications such as automotive, textile, chemical, oil & gas, leather, paints & coatings, and others.

Xylene is also used as an alternative fuel in heavy engines. It is estimated that the o-xylene segment is set to grow at a higher CAGR than the other segments owing to its boundless use as intermediates, solvents, and others in oil & gas industries. xylene market is used in various applications such as automotive, textile, chemical, oil & gas, leather, paints & coatings, rubber, and others.

Xylene Market Regional Analysis: Xylene Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the market due to the growing consumption of xylene in automotive, aerospace, aviation, and others. The o-xylene segment holds the major portion and is anticipated to continue its dominance in the market due to extraordinary features offered by the product such as light weight, superior performance, and other characteristics. Due to these factors countries such as China, Japan, South Korea, and India are the major players in this market.

The North American region is growing significantly due to growing demand for xylene products in automotive, paints & coatings, and other industries. It is predicted that growing investments in the end-use industries is likely to drive the market during the forecast period. The growing consumption of polyethylene terephthalate products (PET) and pure isophthalic acid (PIA) in end-use industries have propelled the growth in countries such as the U.S., Canada, and Mexico to achieve a stunning market growth because they provide unique cost-effective, cleansing properties, and high performance to the product.

Xylene Market Competitive Analysis: Characterized by the presence of several well-established and small players, the global Market of Xylene appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. The Market demonstrates high growth potential which is likely to attract several new entrants in the market. Further resulting in intensified completion. Top players are investing heavily in R&D. The key players operating in the Xylene market compete based upon pricing, Technology and services. Manufacturers operating in the Xylene Market strive to deliver the best quality, reliable and consistent pure high-quality Xylene products based on innovative technologies, and best practices.

Xylene Market Table of Content to be Continue…...,

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