Meta-Xylene Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Meta-Xylene Market Analysis
The global meta-xylene market is expected to record a CAGR ofover 4% during the forecast period. The major factor driving the market studied is the increasing demand from the construction industry and adhesives.
- The harmful and hazardous effects of meta-xylene are expected to hinder the market's growth.
- Availability of cheaper feedstock through increasing shale oil discoveries is likely to act as an opportunity for the market in the forecast period.
Meta-Xylene Market Trends
This section covers the major market trends shaping the Meta-Xylene Market according to our research experts:
Isophthalic Acid to Dominate the Market
- Isophthalic acid is an aromatic dicarboxylic acid, industrially produced by the oxidation of m-xylene, using the Co–Mn–Br catalyst system. Commercially, it is used as a component of PET (polyethylene terephthalate) copolymer, which is used in bottle resins and to a much lesser extent, for fibers.Itis a white solid with a slightly unpleasant odor and it sinks inwater.
- It has excellent thermal stability for low resin color, weathering, high heat distortion temperature, outstanding boiling, water and stain resistance, outstanding hardness, superior corrosion, and stain resistance.
- Isophthalic acid’s second major use is as a component of high-quality alkyds and polyester resins for industrial coatings and unsaturated polyesters, for fiberglass-reinforced plastics applications.
- Purified isophthalic acid (PIA) is mainly used as an intermediate in theproductionof unsaturated polyester resins, followed by polyester and alkyd resins (mainly for surface coatings) and inks, reinforced plastics, and packaging applications.
- Few other applications of Isophthalic acid are as follows: aerospace coatings, architectural coatings, automotive, building materials, coil coatings, construction chemicals, electronic connectors, equipment and machinery, lubricants, metal coatings, packaging components non-food contact, paints and coatings, polyester (pet), process additives, protective coatings, refrigerator and coolant systems, and sport drinks packaging.
- The above mentioned points are expected to rapidly increase the demand for isophthalic acid. This would, in turn, increase the demand for meta-xylene over the forecast period.
United States to Dominate the North American Region
- Residential construction spending in the country slightly fluctuated, in 2017. However, the normal pace was restored gradually in 2018 and has been growing since then. With the growing construction industry in the country, there is an increase in the number of new homes.
- In addition, growth is also being witnessed in the housing repair and refurbishment activities.
- The United States is the second-largest producer of automobiles in the world. PET is widely used to replace parts in automobile, in order to reduce weight and wear and tear, by providing trouble-free performance for a longer span of time.
- With the production of automobiles expected to increase over the forecast period, the consumption of PET in the country is likely to increase.
- The United States, being one of the most developed countries in the world, penetration of meta-xylene is extremely high. This trend is expected to continue over the forecast period.
Meta-Xylene Industry Overview
The global meta-xylene market is fragmented in nature. The major companies include Merck KGaA, Chevron Phillips Chemical Company, Honeywell International Inc., and MITSUBISHI GAS CHEMICAL COMPANY INC.
Meta-Xylene Market Leaders
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Merck KGaA
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Honeywell International Inc.
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Chevron Phillips Chemical Company
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MITSUBISHI GAS CHEMICAL COMPANY INC.
*Disclaimer: Major Players sorted in no particular order
Meta-Xylene Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Demand from the Construction Industry
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4.1.2 Increasing Demand for Adhesives
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4.2 Restraints
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4.2.1 Harmful and Hazardous Effects of Meta-Xylene
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4.2.2 Other Restraints
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Application
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5.1.1 Isophthalic Acid
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5.1.2 2,4- and 2,6-xylidine
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5.1.3 Solvents
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5.1.4 Other Applications
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5.2 Geography
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5.2.1 Asia-Pacific
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5.2.1.1 China
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5.2.1.2 India
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5.2.1.3 Japan
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5.2.1.4 South Korea
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5.2.1.5 Rest of Asia-Pacific
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5.2.2 North America
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5.2.2.1 United States
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5.2.2.2 Canada
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5.2.2.3 Mexico
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5.2.3 Europe
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5.2.3.1 Germany
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5.2.3.2 United Kingdom
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5.2.3.3 Italy
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5.2.3.4 France
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5.2.3.5 Rest of Europe
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Middle East & Africa
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5.2.5.1 Saudi Arabia
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5.2.5.2 South Africa
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5.2.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Avantor
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6.4.2 British Petroleum
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6.4.3 Chevron Phillips Chemical Company
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6.4.4 Compania Espanola De Petroleos, S.A.U. (Cepsa)
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6.4.5 Exxonmobil
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6.4.6 Honeywell International Inc.
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6.4.7 Lotte Chemical
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6.4.8 Merck KGaA
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6.4.9 MITSUBISHI GAS CHEMICAL COMPANY, INC
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6.4.10 Perstorp
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6.4.11 Shell Chemicals LTD
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6.4.12 Total Petrochemicals
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6.4.13 Versalis SpA
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Availability of Cheaper Feedstock through Increasing Shale Oil Discoveries
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7.2 Other Opportunities
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Meta-Xylene Industry Segmentation
The global meta-xylene market report includes:
| Application | |
| Isophthalic Acid | |
| 2,4- and 2,6-xylidine | |
| Solvents | |
| Other Applications |
| Geography | |||||||
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Meta-Xylene Market Research FAQs
What is the current Meta-Xylene Market size?
The Meta-Xylene Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Meta-Xylene Market?
Merck KGaA, Honeywell International Inc., Chevron Phillips Chemical Company and MITSUBISHI GAS CHEMICAL COMPANY INC. are the major companies operating in the Meta-Xylene Market.
Which is the fastest growing region in Meta-Xylene Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Meta-Xylene Market?
In 2024, the Asia Pacific accounts for the largest market share in Meta-Xylene Market.
What years does this Meta-Xylene Market cover?
The report covers the Meta-Xylene Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Meta-Xylene Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Meta-Xylene Industry Report
Statistics for the 2024 Meta-Xylene market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Meta-Xylene analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
