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Xylene Market Size (2024 - 2029)

The xylene market is anticipated to experience steady growth, driven by increasing demand from expanding end-user industries. Despite the challenges posed by the toxic effects of xylenes and a shift towards plastic-free products, opportunities arise from cheaper feedstock and a trend towards bio-based xylene production. The market's expansion is supported by significant usage in the Asia-Pacific region across various applications, including plastics, polymers, and coatings, due to the desirable properties of xylenes.

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Market Size of Xylene Industry

Xylene Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR < 5.00 %
Fastest Growing Market North America
Largest Market Asia Pacific
Market Concentration Low

Major Players

Xylene Market Major Players

*Disclaimer: Major Players sorted in no particular order

Xylene Market Analysis

The xylene market is projected to register a CAGR of less than 5% during the forecast period.

The COVID-19 pandemic moderately impacted the market. Xylenes are used in paint thinners as solvents. Construction activities were halted globally due to the COVID-19 outbreak. However, the use of face shields, transparent masks, food, and e-commerce packaging increased, thus, enhancing the demand for xylene derivatives, including purified terephthalate acid, dimethyl terephthalate, and polyethylene terephthalate. This factor stimulated the xylene demand. However, the market is projected to grow steadily, owing to growth trends in the end-user industries in 2022.

  • Over the short term, the increasing demand from the rapidly growing end-user industries is driving the market.
  • However, the toxic effects of xylenes and increased consumer awareness regarding plastic-free products are expected to hinder the market's growth.
  • Nevertheless, cheaper feedstock through shale oil discoveries and a rising trend for the production of bio-based xylene are likely to act as an opportunity during the forecast period.
  • Asia-Pacific is estimated to witness healthy growth over the assessment period in the xylene market due to the vast usage of xylene in end-use application segments, such as plastics, polymers, paints and coatings, adhesives, etc., due to their desirable properties.

Xylene Industry Segmentation

Xylenes, namely, para-xylene, ortho-xylene, and meta-xylene, are extracted or distilled from gasoline refining. Xylenes are produced mainly as part of the BTX aromatics extracted from the product of catalytic reforming, known as reformate. They can also be produced from toluene using the disproportionation process. The xylene market is segmented into type, application, end-user industry, and geography. The market is segmented by type: ortho-xylene, meta-xylene, para-xylene, and mixed xylene. By application, the market is segmented into solvents, monomers, and other applications. By end-user industry, the market is segmented into plastics and polymers, paints and coatings, adhesives, and other end-user industries. The report also covers the market size and forecasts in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilotons).

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 and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Xylene Market Size Summary

The xylene market is anticipated to experience steady growth over the forecast period, driven by increasing demand from rapidly expanding end-user industries. Despite the moderate impact of the COVID-19 pandemic, which temporarily disrupted construction activities and affected solvent demand, the market has shown resilience. The rise in demand for xylene derivatives, such as purified terephthalate acid and polyethylene terephthalate, due to their applications in face shields, transparent masks, and packaging, has bolstered market growth. However, challenges such as the toxic effects of xylenes and growing consumer preference for plastic-free products may impede progress. Opportunities arise from the discovery of cheaper feedstock through shale oil and the trend towards bio-based xylene production, particularly in the Asia-Pacific region, where xylene's application in plastics, polymers, and coatings is extensive.

The xylene market's fragmented nature is characterized by the presence of major companies like Exxon Mobil Corporation, Reliance Industries Limited, and INEOS. The majority of xylene is utilized as a solvent in industries such as rubber, leather, and paints, and it serves as a chemical intermediate and blending agent for fuels. The market is further supported by significant investments in capacity expansions, particularly in China, where substantial additions to xylene production capacity are planned. The country's strategic investments in petrochemical complexes and joint ventures are expected to enhance its production capabilities, driving demand for paraxylene and other xylene derivatives. As the market evolves, the solvents segment is poised for growth, supported by increasing investments and demand from various end-user industries.

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Xylene Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Usage of Xylene as Solvents and Monomers

      2. 1.1.2 Increasing Demand from the Rapidly Growing End-user Industries

    2. 1.2 Restraints

      1. 1.2.1 Toxic Health Effects and Regylations on Usage of Xylenes

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Type

      1. 2.1.1 Ortho-xylene

      2. 2.1.2 Meta-xylene

      3. 2.1.3 Para-xylene

      4. 2.1.4 Mixed Xylene

    2. 2.2 Application

      1. 2.2.1 Solvent

      2. 2.2.2 Monomer

      3. 2.2.3 Other Applications

    3. 2.3 End-user Industry

      1. 2.3.1 Plastics and Polymers

      2. 2.3.2 Paints and Coatings

      3. 2.3.3 Adhesives

      4. 2.3.4 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Xylene Market Size FAQs

The Xylene Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)

Exxon Mobil Corporation, Reliance Industries Limited, INEOS, CNPC (China National Petroleum Corporation) and Mitsubishi Gas Chemical Company, Inc. are the major companies operating in the Xylene Market.

Xylene Market Report Snapshots

Xylene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)