Global Meta-Xylene Market Recent Study Including Growth Factors CAGR of 4.25 % b

Posted by swamiv on November 5th, 2019

Global meta-xylene market By Application (Isophthalic Acid, 2,4- and 2,6-xylidine, Solvents, Other Application), Type (Sorbex, UOP, Others), End- User (Construction, Packaging, Automotive, Aerospace)

Market Definition: Global Meta-Xylene Market

Meta-xylene or m- xylene is a colorless inflammable liquid which is mainly used for the production of isophthalic acid. They are usually in insoluble in water and have sweet fragrance. They are usually isomer of para-xylene and ortho-xylene. They are widely used in industries such as aerospace, automotive, packaging, construction and others. Rising demand for isophthalic acid in various industries is fuelling the growth of this market.

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Market Drivers:

•          Rising consumption of isophthalic acid is driving the market
•          Increasing demand for paint and coating in construction industry will also propel market
•          Growing prevalence for adhesives will also drive market
•          Rising demand of m- xylene from various end- users will also contribute as a factor for the market

Market Restraints:

•          Increasing health related problems related with m- xylene will restrain market
•          Harmful and hazardous effects of meta- xylene will also hamper market

Market Analysis: Global Meta-Xylene Market

Global meta-xylene market is set to witness a steady CAGR of 4.25% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand for adhesives and increasing demand of meta- xylene in construction industry are the factor for the growth of this market.

Global Meta-Xylene Market Segmentation:

By Application

o    Isophthalic Acid

o    2,4- and 2,6-xylidine

o    Solvents

o    Other Application

By Type

o    Sorbex

o    UOP

o    Others

By End- User

o    Construction

o    Packaging

o    Automotive

o    Aerospace

Key Developments in the Market:

In August 2016, Mitsubishi Gas Chemical Company Inc., announced that from March 2017 they are going to reactivate their meta-xylene plant in Karashiki. It has the total production lines with annual capacity of 220,000 ton out of which this production line annual capacity of 70,000 tons. This reactivation will help the company to meet the need and requirement of meta- xylene worldwide and will also meet the requirement of MX in leather industry and purified isophthalic acid.

Competitive Analysis:

Global meta-xylene 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 meta-xylene market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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