USD 42 million
Mixed Xylene Market Size, Share, Growth Analysis, By End-User(Automotive, Building & Construction, Paints & Coatings, Aerospace & Military), By Application(Fuel blending, Solvents, Thinners, Raw Materials.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2348 |
Region:
Global |
Published Date: February, 2024
Pages:
272
|Tables:
71
|Figures:
75
Mixed Xylene Market Insights
Mixed Xylene Market size was valued at USD 42 million in 2019 and is poised to grow from USD 44.6 million in 2023 to USD 76.5 million by 2031, growing at a CAGR of 6.18% in the forecast period (2024-2031).
Para-xylene, ortho-xylene, meta-xylene, and ethylbenzene make up mixed xylene. Although the proportion of ethyl benzene in mixed xylene is usually less than 20%, the distribution of xylene isomers in the combination varies. Mixed xylene is a colorless, flammable liquid with a pleasant odor. Mixed xylene is mostly a synthetic compound. Mixed xylene is one of the top 40 compounds manufactured in the United States in terms of volume. The increased usage of mixed xylene as a solvent in end-use industries such as paints and coatings and adhesives and sealants is one of the reasons driving the global mixed xylene market.
Another element driving the demand for mixed xylene is its use in fuel blending to boost the octane number. However, rising consumer knowledge of the benefits of using plastic-free items and the harmful effects of mixed xylene on human health and the environment may limit the worldwide market for mixed xylene soon. In the coming years, increased research and development expenditure on bio-based mixed xylene for use in paints, coatings, adhesives, and sealants could provide new prospects for the mixed xylene market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Automotive
Fastest Growth
Automotive
Growth Rate
6.18% CAGR
Global Mixed Xylene Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Mixed Xylene Market Segmental Analysis
The global mixed xylene market has been segmented based on application, end-user, and region. Based on application, the segment is classified into fuel blending, solvents, thinners, and raw materials. Based on the end-user, the segment is classified into automotive, building & construction, paints & coatings, aerospace & military, marine, electrical & electronics, agrochemical, oil & gas, chemical, and others. Based on the region, mixed xylene is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Mixed Xylene Market Analysis by End-User
The building and construction category accounted for the largest portion of the global ortho-xylene market. During the forecast period, the market for ortho-xylene is expected to be driven by the rapid rise of the construction industry in the Asia Pacific. The global market for xylene is expanding as a result of the rising demand for paraxylene. One of the isomers of xylene, paraxylene, is necessary for the creation of polyethylene terephthalate (PET). PET is utilized in a variety of sectors, including construction, automotive, consumer products, sheets & films, food packaging, and beverage packaging. The market for paraxylene is expanding as a result of the rising demand for packaging materials, which has raised the demand for PET.
Global Mixed Xylene Market By End-User, 2021 (%)
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Mixed Xylene Market Regional Insights
During the forecast period, Asia-Pacific is expected to be the largest and fastest-growing region in the global mixed xylene market. The growing use of mixed xylene as a solvent in sectors including paints and coatings, adhesives and sealants, chemicals, and printing is likely to enhance the market in the area. Furthermore, mixed xylene is primarily utilized as a raw material in the production of agricultural pesticides, which is projected to drive demand in the Asia Pacific area.
North America held the second-largest proportion of the worldwide market. One of the driving drivers for the market in the North American region is the increased usage of gasoline in the US, as well as the increased use of mixed xylene in gasoline to improve octane number (anti-knocking) attributes of gasoline, Europe had the third biggest market share in the global mixed xylene market. During the study period, increased demand for mixed xylene in the chemical, rubber, and plastics industries in this region is likely to fuel regional market expansion.
The market in the Middle East and Africa is expected to increase positively during the forecast period, owing to improved industrial circumstances following the political and economic downturn earlier seen
Global Mixed Xylene Market By Geography, 2022-2028
- Largest
- Fastest
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Mixed Xylene Market Dynamics
Mixed Xylene Market Driver
- During the projection period, demand for ortho-xylene is likely to be driven by the construction industry's growth and the automobile industry's development. In addition, demand for ortho-xylene is expected to rise in the coming years as the paints and adhesives industry expands.
- One of the factors driving the global mixed xylene market is the increasing use of it as a solvent in end-use industries such as paints and coatings and adhesives and sealants. Another factor driving the mixed xylene market is its use in fuel blending to increase the octane number of the fuel.
Mixed Xylene Market Restraint
- Due to weak downstream conditions in the purified terephthalic acid and paraxylene sectors, xylene prices are expected to fall in Asia. The ortho-xylene market's primary strengths are global ortho-xylene manufacturing, an integrated supply chain, and the availability of feedstock.
- In humans, however, acute inhalation or exposure to ortho-xylene produces ocular discomfort. It also has neurological consequences. Chronic exposure to ortho-xylenes also has negative consequences on the central nervous system, cardiovascular system, and kidneys. When ortho-xylene comes into contact with oxidants, it reacts violently, posing a fire and explosion risk. As a result, governments around the world have put strict limitations on the use of ortho-xylene. The ortho-xylene market is anticipated to be hampered shortly as a result of this.
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Mixed Xylene Market Competitive Landscape
The key players in the Bispecific antibodies market are working on continuous innovation and increasing product portfolios for therapeutic outcomes for patients. Along with the introduction of new products in the market and also with various mergers and acquisitions taking place they are trying to meet the continuous customer demand. For Instance, Lotte Chemical and Hyundai Oilbank entered into a joint venture to form Hyundai Chemical and recently invested an estimated US$ 222 Mn for expanding the production capacity of aromatics located in Daesan, South Korea from 1200 KT to 1400 KT on an annual basis.
Mixed Xylene Market Top Player's Company Profiles
- Royal Dutch Shell Plc
- China Petrochemical Corporation (Sinopec Group)
- ExxonMobil Corporation
- BP plc
- Chevron Corporation
- Reliance Industries Limited
- Total S.A.
- LyondellBasell Industries Holdings B.V.
- Phillips 66 Company
- SK Innovation Co., Ltd.
- Indian Oil Corporation Limited
- LOTTE Chemical CORPORATION
- Idemitsu Kosan Co., Ltd.
- GS Caltex Corporation
- Flint Hills Resources
- Formosa Chemicals & Fibre Corporation
- PTT Global Chemical Public Company Limited
- CNOOC and Shell Petrochemicals Company Limited (CSPC)
- PT Pertamina (Persero)
- BASF SE
Mixed Xylene Market Recent Development
- In January 2021, INEOS paid US$ 5 billion for BP's global aromatics and acetyls division, allowing the company to expand its product offering.
- In April 2021, Indian Oil Corporation Limited (IOCL) granted Tecnimont Private Limited an EPCC contract for US$ 450 million to build an integrated paraxylene (PX) and purified terephthalic acid (PTA) facility in Paradip, Odisha. It will be linked to the company's refinery at Jagatsinghpur, Odisha. By 2024, the petrochemicals complex will be operational, with an annual capacity of 800 kilotons of PX, the feedstock for the production of PTA.
Mixed Xylene Key Market Trends
- Because of its characteristics and chemical structure, it is excellent in dissolving substances that do not dissolve well in water. Xylene is a volatile substance that easily evaporates. As a result, it's commonly used in situations where a producer has to dissolve a substance while also evaporating the solvent
- It can be used to clean silicon wafers and steel, as well as sterilize a variety of substances. Petrol, gasoline, and jet fuel are all made with xylene as feedstock.
Mixed Xylene Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by the end-user, the building and construction segment dominated the market and is expected to see substantial growth in the forecast period, by application, the Fuel binder exercised the largest market share and will further continue to grow, and further, by region, the Asia Pacific region held the maximum market share and will continue to be the maximum market share holder in the forecast period. Thus taking into consideration the technological advancement, increased funding, and requirements the mixed xylene market is expected to grow significantly.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 42 million |
| Market size value in 2031 | USD 76.5 million |
| Growth Rate | 6.18% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Mixed Xylene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Mixed Xylene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Mixed Xylene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mixed Xylene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mixed Xylene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mixed Xylene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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