DUBLIN--(BUSINESS WIRE)--The "Paraxylene (PX) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global paraxylene (PX) market size reached US$ 44.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 62.4 Billion by 2027, exhibiting a CAGR of 5.96% during 2021-2027.

Companies Mentioned

• Braskem
• China National Petroleum Corporation
• ENEOS Corporation
• ExxonMobil Corporation
• Fujian Refining & Petrochemical Company Limited
• Mangalore Refinery & Petrochemicals Ltd (Oil
• Natural Gas Corporation Limited)
• Mitsubishi Gas Chemical Company Inc.
• National Petrochemical Company
• PT Pertamina
• Reliance Industries Limited
• SK incheon petrochem Co. Ltd.
• Toray International Inc.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Paraxylene, also known as PX or P-Xylene, is an aromatic hydrocarbon compound. It is a colorless, transparent, highly flammable and toxic chemical which is chemically derived from products containing benzene. It is produced through the process of catalytic reforming of petroleum derivatives and is separated through crystallization, distillation and the reaction of ethylbenzene.

It is primarily used as a raw material in the manufacturing of industrial chemicals such as purified terephthalic acid (PTA), purified dimethyl terephthalate (DMT) and others. It also finds applications in the production of packaging materials, polyester fibres, construction materials, etc.

The growing demand for plastics across the globe is the key factor driving the market. Paraxylene forms the core component in the production of plastic products.

As a result, it is utilized for manufacturing polyethylene terephthalate (PET) bottles commonly used as containers for soda, water and other beverages. Paraxylene is also being used in the production of various household products such as containers for cosmetics and toiletries, and curtain fabrics, clothing and upholstery.

Furthermore, the development of bio-based paraxylene is significantly contributing to the market growth. Increasing environmental awareness has encouraged consumers to seek eco-friendly options. Consequently, bioplastics, of which bio-based paraxylene is an integral component, are widely being incorporated across industries as a sustainable alternative to the conventionally used plastics. Other factors such as a thriving packaging industry are also contributing to the growth of the market.

The publisher's latest report provides a deep insight into the global paraxylene (PX) market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the paraxylene (PX) market in any manner.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global paraxylene (PX) market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application and end use industry.

Market Breakup by Application:

• Purified Terephthalic Acid (PTA)
• Dimethyl Terephthalate (DMT)
• Others

Market Breakup by End Use Industry:

• Plastics
• Textile
• Others

Market Breakup by Region:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

Key Questions Answered in This Report

1. What is the global paraxylene (PX) market growth?

2. What are the global paraxylene (PX) market drivers?

3. What are the key industry trends in the global paraxylene (PX) market?

4. What is the impact of COVID-19 on the global paraxylene (PX) market?

5. What is the global paraxylene (PX) market breakup by application?

6. What is the global paraxylene (PX) market breakup by end use industry?

7. What are the major regions in the global paraxylene (PX) market?

8. Who are the key companies/players in the global paraxylene (PX) market?

For more information about this report visit https://www.researchandmarkets.com/r/syypfr-px?w=4

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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