Xylene Market - Growth, Trends, and Forecast (2019 - 2024)

The market is Segmented by Type, Application, End-user Industry, and Geography

Market Snapshot

Xylene Market -Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

North America

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The global xylene market is expected to record a CAGR of over 4.5% during the forecast period, 2019-2024. The major factor driving the market studied is the increasing demand from the rapidly growing end-user industries.

  • Toxic effects of xylene and its types and an increase in consumer awareness regarding the use of plastic-free products are expected to hinder the growth of the market studied.
  • Cheaper feedstock through shale oil discoveries is likely to act as an opportunity, during the forecast period.

Scope of the Report

The global xylene market report includes:

Type
Ortho-Xylene
Meta-Xylene
Para-Xylene
Mixed Xylene
Application
Solvent
Monomer
Other Applications
End-user Industry
Plastics and Polymers
Paints and Coatings
Adhesives
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Solvent Application to Dominate the Market

  • Majority of xylene is used as a solvent for rubber, leather, and printing industries. Other various applications of xylene include chemical intermediates, and blending agents for high-motor and aviation fuels and breathing devices (inhalers).
  • It is very good at dissolving compounds that dissolve poorly in water. Its ability to do so stems from its properties and its chemical structure. Xylene is volatile, which means it evaporates readily. For this reason, it is used in situations where the manufacturer needs to dissolve a compound, but then evaporate the solvent.
  • It is a good cleaning agent for silicon wafers, steel, and is also used to sterilize several substances. Xylene is used as a feedstock in the production of petrol, gasoline, and jet fuel.
  • It is also used as a concrete sealer in laboratories to make baths with dry ice, in order to cool reaction vessels, and as a solvent to remove synthetic immersion oil from the microscope objective in light microscopy.
  • Thus, from the aforementioned points, a progressive scope for solvents segment of xylene market is seen in the forecast period.
Xylene Market - By Application

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United States to Dominate the North American Region

  • The United States ranks among the top three countries across the world in consumption of xylene. The rapid growth for xylene in the United States has been majorly driven by ample construction activities, which are being supported by the growing economy.
  • In 2017, the annual GDP growth rate of the United States grew from 2.7%. In 2018, the annual GDP growth rate was 2.9%, and the GDP is further expected to record similar growth in 2019, with the industrial and construction sectors accounting for approximately 50% of the GDP.
  • The United States is the second largest producer of automobiles in the world. The production of automobiles in the country has recorded a robust growth till 2016. After growing at 3.8% in 2015, the growth slowed down to 0.8% in 2016, due to the excess inventory and low demand for passenger cars. Moreover, the production of new motor vehicles in the country has decreased by 8.13% in 2017 and reached a total of 11,189,985 units. In 2018, it increased by 1.1% and reached a total of 11,314,705 units.
  • This surge has increased the consumption of paints and coatings and adhesives in the country in recent times and this has further increased the consumption of xylene.
  • The construction industry in the United States witnessed rapid growth in 2018 as a result of increased private sector spending on residential construction. 
  • Thus, with the rapid growth in building and construction, automotive, and other industries, the market for xylene is expected to rapidly increase in the United States, over the forecast period.
Xylene Market - Region

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Competitive Landscape

The global xylene market is fragmented in nature. The major companies include BASF SE, Chevron Phillips Chemical Company, Exxon Mobil Corporation, Mitsubishi Gas Chemical Company, and Total SA among others.

Major Players

  1. MITSUBISHI GAS CHEMICAL COMPANY, INC.
  2. Chevron Phillips Chemical Company
  3. Exxon Mobil Corporation
  4. Total SA

* Complete list of players covered available in the table of contents below

Xylene Market - concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Rapidly Growing End-user Industries

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Toxic Effects of Xylene and its Types

      2. 4.2.2 Increase in Consumer Awareness Regarding the Use of Plastic-free Products

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Ortho-Xylene

      2. 5.1.2 Meta-Xylene

      3. 5.1.3 Para-Xylene

      4. 5.1.4 Mixed Xylene

    2. 5.2 Application

      1. 5.2.1 Solvent

      2. 5.2.2 Monomer

      3. 5.2.3 Other Applications

    3. 5.3 End-user Industry

      1. 5.3.1 Plastics and Polymers

      2. 5.3.2 Paints and Coatings

      3. 5.3.3 Adhesives

      4. 5.3.4 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 BP PLC

      3. 6.4.3 Braskem

      4. 6.4.4 Chevron Phillips Chemical Company

      5. 6.4.5 China Petroleum & Chemical Corporation

      6. 6.4.6 Exxon Mobil Corporation

      7. 6.4.7 Formosa Chemicals & Fibre Corporation

      8. 6.4.8 JXTG Nippon Oil & Energy Corporation

      9. 6.4.9 LOTTE Chemical Corporation

      10. 6.4.10 Mitsubishi Gas Chemical Company

      11. 6.4.11 Reliance Industries Limited

      12. 6.4.12 SK global chemical Co. Ltd

      13. 6.4.13 S-Oil Corporation

      14. 6.4.14 Total SA

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Cheaper Feedstock through Shale Oil Discoveries

    2. 7.2 Other Opportunities

**Subject to Availability

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