According to the latest report published by Variant Market Research, the global paraxylene market size is projected to reach $79.3 billion by 2024 from $37.7 billion in 2016. In this report, paraxylene market forecast says that the global market is growing at 9.7% CAGR from 2016 to 2024.

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Increasing application segments to fuel the global market

The global paraxylene market trend comprises mounting demand for polyesters, increasing application segments, high conservation efficiency, and low manufacturing cost. But, complex process of paraxylene formation might adversely impact the paraxylene market growth. Furthermore, emerging markets would offer an opportunity for players of market.

Market Segmentations

The global paraxylene market is classified into end user, application, and geography. Paraxylene application segment includes purified terephthalic acid (PTA), dimethyl-terephthalate (DMT), di-paraxylene (DI-PX), and other applications. Further, the market is classified on basis of end user into packaging, polyester fiber, and others. North America (U.S., Mexico, and Canada), Europe (France, Italy, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.

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Polyester fiber, by end user segment dominated the global market in 2016

In 2016, polyester fiber in the end user segment dominated the global market with maximum market share and expected to continue the trend over the forecast period, 2016– 2024. The growth of this segment is driven by changing lifestyles, growing home furnishing market, and development in building and construction industry.

Purified terephthalic acid (PTA) of the application segment, accounted for the largest share in 2016

In the application segment, purified terephthalic acid (PTA) held the major market share in 2016. Increase in demand about PTA films in construction & commercial industries, as well as increasing this type of paraxylene uses for manufacturing products in bottling & home furnishing are the driving factors for the growth of this segment.

Asia-Pacific was the highest revenue generating region of the global market in 2016

Asia-Pacific held major market share of 82.4% in 2016 and fastest CAGR during the forecasted period due to existence of major manufacturers, growing demand from food and beverages packaging industry.

Competitive Landscape

Key players are offering innovative products and services to increase their Paraxylene market share. Major players of the market are British Petroleum PLC, Toray Industries Inc., ONGC, JX Nippon Oil & Energy Corp., Reliance Industries Ltd., Teijin Fibers, S-Oil Corporation, CNOOC Limited, BASF SE, and Chevron Phillips Chemical Company LLC, among others.

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Scope of Global Paraxylene Market

End User Segments

• Packaging
• Polyester Fiber
• Other End Users

Application Segments

• Purified Terephthalic Acid (PTA)
• Dimethyl-Terephthalate (DMT)
• Di-Paraxylene (DI-PX)
• Other Applications

Geographical Segments:

• North America
o U.S.
o Canada
o Mexico

• Europe
o UK
o Germany
o Italy
o France
o Rest of Europe

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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