Global Xylene Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
25 Oct, 2021
The xylene market consists of the sales of xylene and related services used in printing, rubber and leather industries. Xylene is a chemical compound having isomers made from refined petroleum or liquid hydrocarbons. Xylene can also occur naturally in petroleum and coal tar. It is a colourless, insoluble, flammable liquid with a sweet odor. Xylene is used as a cleaning agent, paint thinner and remover, varnish, airplane fuel, gasoline, rust preventatives, pesticides, lacquers.
Global Xylene Market Size And Drivers:
The global xylene market is expected to grow from $30.39 billion in 2020 to $34.43 billion in 2021 at a compound annual growth rate (CAGR) of 13.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $31.46 billion in 2025 at a CAGR of -2%. The increasing demand for paraxylene across the globe contributes to the growth of the xylene market.
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Trends In The Global Xylene Market
The manufacturers in the xylene market are focusing on increasing their production capacity. The major players in the xylene market are investing in expanding their capacities of the existing plants and setting up new plants. For instance, to increase export volume to Chinese buyers, Tonen General, a Japan-based oil refining and marketing company, invested in its new 230,000 tone/year recovery unit in Ichihara to increase the sales of isomer-grade xylene. Following the trend of expansion, in 2019, China Petroleum & Chemical Corporation (or Sinopec), a Chinese oil and gas enterprise based in Beijing, started a new 800,000 tonne/year PX (para-xylene) unit which is located in Hainan. Also, China’s Fuhaichuang Petrochemical, resumed PX productions at 800,000 tonne/year PX line in 2018 and 800,000 tonne/year PX line in January 2019.
Global Xylene Market Segments:
The global xylene market is further segmented –
By Type: Ortho-Xylene, Meta-Xylene, Para-Xylene, Mixed Xylene
By End-Use: Plastics and Polymers, Paints and Coatings, Adhesives, Others
By Application: Automotive, Textile, Chemical, Oil and Gas, Leather, Paints and Coatings, Rubber
By Geography: The global xylene market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Xylene Market At:
https://www.thebusinessresearchcompany.com/report/xylene-global-market-reportXylene Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides xylene market overviews, analyzes and forecasts market size and growth for the global xylene market, xylene market share, xylene market players, xylene market segments and geographies, xylene market’s leading competitors’ revenues, profiles and market shares. The xylene market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.