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Global Paraxylene Market Share, Size, Analysis, Forecast: By Product Type: Dimethyl Terephthalate (DMT), Purified Terephthalic Acid (PTA), Others; By Application: Electronics, Construction, Textiles, Food Packaging; Beverage Bottling, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Paraxylene Market Outlook
The global paraxylene market size reached a value of around USD 49.98 billion in 2023. The global market is expected to grow at a CAGR of 6.4% between 2024 and 2032, reaching a value of USD 87.34 billion by 2032.
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Global Paraxylene Market Trends
Paraxylene also known as p-Xylene, is a chemical that is largely used as a building block to manufacture polyester and PET plastics. As PET plastic is robust, lightweight, and shatter-resistant, it is frequently used to make bottles for water, sodas, and other liquids. P-Xylene is a hydrocarbon which is usually obtained from crude oils.
- The growing demand for plastic goods in the packaging sector is one of the key market growth factors. In addition, bottles made of polyethylene terephthalate (PET) are often used to keep soda, water, and other liquids, and the rising demand for the PET plastics has enhanced the market development for paraxylene.
- The paraxylene market is anticipated to receive various growth opportunities during the forecast period due to the rising utilisation of bio-based paraxylene in bioplastic PET bottles (Bio-PET) and various other bioplastic applications, such as food utensils.
- Furthermore, rapid industrial and economic development in various regions would propel the market growth as the demand for plastic products rise. This will also enable opportunities for companies to expand their market presence into other regions.
Global Paraxylene Market Analysis
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Based on product type, the market is segmented into dimethyl terephthalate, and purified terephthalic, among others. On the basis of application, the market is categorised into electronics, construction, textiles, food packaging, and beverage bottling, among others. The regional markets for paraxylene can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global paraxylene market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- China National Petroleum Corporation
- ENEOS Corporation
- GS Caltex Corporation
- INEOS Group Holdings S.A
- S-OIL Corporation
- Reliance Industries Limited
- Mitsubishi Gas Chemical Company, Inc.
- Others
Different Product Types Available in the Paraxylene Market
The market for paraxylene, based on type, can be segmented into dimethyl terephthalate and purified terephthalic, among others. Dimethyl terephthalate is produced through the formal condensation of the carboxy groups of terephthalic acid with methanol. It is a diester, phthalate ester, and methyl ester. It is widely used in the manufacturing of polyesters and commercial plastics and is also commonly used to produce esters for the production of plasticisers. These plasticisers are usually found in polyester resins, polyester polyols, dyes and pigments, anhydrides, and insect repellents. Dimethyl terephthalate is a key component of thermoplastics, electrical capacitors, and several valuable X-ray and video films.
Regional markets for Paraxylene
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the market segments for the global paraxylene market.
The Asia Pacific regional market for paraxylene is anticipated to be driven by the rapid industrialisation and economic growth. Due to the significant use of paraxylene for the manufacture of PET, the Asia-Pacific region is expected to hold a leading position in the market. China, India, Malaysia, and Indonesia, among others, are some of the largest manufacturers and consumers of paraxylene, which can significantly propel the development of the market.
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Competitive Landscape
China National Petroleum Corporation founded in 1988, is one of the largest integrated energy organisations in the world and a significant national oil and gas corporation of China. Its main office is located in Beijing. The company has expertise in the oil and gas sector and distributes its products around the world. The company is engaged in searching, refining, and selling a variety of products, including fuel oils, solvent oils, diesel oils, lubricant oils, chemical light oils, and gasolines.
ENEOS Corporation, based in Tokyo, Japan, is a company that operates in the oil and gas industry. The company, founded in 1888, was formerly known as JXTG Nippon Oil & Energy Corporation, or NOC or Shin-Nisseki. Its operations include the exploration, import, and refinement of crude oil, as well as the production and marketing of petroleum goods including fuels and lubricants.
GS Caltex Corporation is jointly controlled by Chevron and GS Group. The company was established in 1967 with headquarters in Seoul, South Korea, and was Korea's first privately owned oil firm. The company is engaged in various business sectors including petroleum, aromatics, olefin, polymer, base oil, and lubricants, while also increasingly focused on production processes and research and development.
Other market players include INEOS Group Holdings S.A, S-OIL Corporation, Reliance Industries Limited, and Mitsubishi Gas Chemical Company, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Trade Data Analysis |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Paraxylene Market Analysis
8.1 Key Industry Highlights
8.2 Global Paraxylene Historical Market (2018-2021)
8.3 Global Paraxylene Market Forecast (2024-2032)
8.4 Global Paraxylene Market by Product Type
8.4.1 Dimethyl Terephthalate (DMT)
8.4.1.1 Historical Trend (2018-2021)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Purified Terephthalic Acid (PTA)
8.4.2.1 Historical Trend (2018-2021)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Paraxylene Market by Application
8.5.1 Electronics
8.5.1.1 Historical Trend (2018-2021)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Construction
8.5.2.1 Historical Trend (2018-2021)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Textiles
8.5.3.1 Historical Trend (2018-2021)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Food Packaging
8.5.4.1 Historical Trend (2018-2021)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Beverage Bottling
8.5.5.1 Historical Trend (2018-2021)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Paraxylene Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Paraxylene Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Paraxylene Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Paraxylene Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Paraxylene Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Paraxylene Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code- 290243)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 China National Petroleum Corporation
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 ENEOS Corporation
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 GS Caltex Corporation
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 INEOS Group Holdings S.A
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 S-OIL Corporation
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Reliance Industries Limited
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Mitsubishi Gas Chemical Company, Inc.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Paraxylene Market: Key Industry Highlights, 2018 and 2032
2. Global Paraxylene Historical Market: Breakup by Product Type (USD Million), 2018-2021
3. Global Paraxylene Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Paraxylene Historical Market: Breakup by Application (USD Million), 2018-2021
5. Global Paraxylene Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Paraxylene Historical Market: Breakup by Region (USD Million), 2018-2021
7. Global Paraxylene Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Paraxylene Historical Market: Breakup by Country (USD Million), 2018-2021
9. North America Paraxylene Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Paraxylene Historical Market: Breakup by Country (USD Million), 2018-2021
11. Europe Paraxylene Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Paraxylene Historical Market: Breakup by Country (USD Million), 2018-2021
13. Asia Pacific Paraxylene Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Paraxylene Historical Market: Breakup by Country (USD Million), 2018-2021
15. Latin America Paraxylene Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Paraxylene Historical Market: Breakup by Country (USD Million), 2018-2021
17. Middle East and Africa Paraxylene Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Major Exporting Countries by Value
19. Major Importing Countries by Value
20. Major Exporting Countries by Volume
21. Major Importing Countries by Volume
22. Global Paraxylene Market Structure
Key Questions Answered in the Report
In 2023, the global market for paraxylene reached a value of USD 49.98 billion.
The market is expected to grow at a CAGR of 6.4% during the period 2024-2032.
The market is expected to reach a value of USD 87.34 billion in 2032.
The major paraxylene market drivers propelling market growth are the increasing demand for PET bottles and other plastic related products, and rapid industrial and economic development of certain countries.
The key trends influencing the market include the growing environmental awareness among people propelling the demand for bio-based PET bottles and other bioplastic products.
The regional markets for the paraxylene include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The product types of paraxylene available in the market include dimethyl terephthalate (DMT), and purified terephthalic (PTA), among others.
The different applications of paraxylene in the market include electronics, construction, textiles, food packaging, and beverage bottling, among others.
Paraxylene is commonly made from petroleum naphtha by its catalytic reforming as a component of the BTX aromatics separated from the catalytic reformate.
The key players in the market include China National Petroleum Corporation, ENEOS Corporation, GS Caltex Corporation, INEOS Group Holdings S.A, S-OIL Corporation, Reliance Industries Limited, and Mitsubishi Gas Chemical Company, Inc., among others.
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