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Paraxylene Market Share to Expand at a CAGR of 6% during 2019-2024

 



(MoneyNewsWire.Net, November 14, 2019 ) As per the latest report by IMARC Group, titled “Paraxylene Market Price 2019: Industry Trends, Share, Size, Growth, Opportunity and Forecast by 2024”, the global paraxylene market size is experiencing moderate growth. Paraxylene, also known as P-Xylene or PX, is a colorless, aromatic, toxic and organic compound that is highly flammable at room temperature. It is one of the isomers of xylene, other than M-xylene and O-xylene. Paraxylene occurs naturally in coal tar and petroleum and can be synthetically obtained from benzene. Paraxylene is used as a raw material for producing various industrial chemicals, including dimethyl-terephthalate (DMT) and purified terephthalic acid (PTA). These chemicals are further used to manufacture plastics such as polyethylene terephthalate (PET).



Request for a free sample copy of this report: https://www.imarcgroup.com/paraxylene-market/requestsample



Global Paraxylene Market Trends:



Paraxylene finds several applications across the packaging, construction, textile and cosmetics industries. In the packaging and cosmetics industry, there has been an increase in the use of paraxylene in the production of plastic bottles and containers for toiletries and other personal care products. Other than this, various technological innovations within the textile industry have stimulated the demand for PET-based fiber for making curtains, upholstery and clothing. Other uses of PET include the production of construction materials, magnetic tapes, furniture, films for X-rays, packaging for processed meats, boil-in bags and polyester films. With rising prosperity, the demand for these products is growing, which in turn is influencing the global paraxylene market outlook. Apart from this, as paraxylene is moderately unsafe for aquatic organisms and the environment, several regulatory bodies are tracking the manufacturing units to regulate plant-generated emissions. This has pushed producers to employ biological paths to produce bio-based paraxylene, which is more environment-friendly. Owing to these factors, the market is projected to expand at a CAGR of 6% during 2019-2024.



Buy full report with table of contents: https://www.imarcgroup.com/paraxylene-market



Insights on Market Segmentation:



Market Breakup by Application:



1. Purified Terephthalic Acid (PTA)

2. Dimethyl Terephthalate (DMT)

3. Others



On the basis of the application, the market has been divided into purified terephthalic acid (PTA), dimethyl terephthalate (DMT) and others.



Market Breakup by End Use Industry:



1. Plastics

2. Textile

3. Others



Based on the end use industry, the market has been segregated into plastics, textile and others.



Market Breakup by Region:



1. Asia Pacific

2. North America

3. Europe

4. Middle East and Africa

5. Latin America



Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.



Competitive Landscape:



Some of the paraxylene market competitors include BP PLC, Braskem SA, PT Pertamina, Chevron Phillips Chemical, China National Petroleum Corporation, Fujian Refining & Petrochemical (FREP) Company Limited, ExxonMobil Corporation, JX Nippon Oil & Energy Corporation, Mitsubishi Gas Chemical Co. Inc., The National Petrochemical Company (NPC) Iran, Reliance Industries Limited, China Petroleum & Chemical Corporation or Sinopec, Toray Industries, Inc., Mangalore Refinery and Petrochemicals Limited, and S.K. Innovation Co. Ltd.



Browse More Report by IMARC Group in Chemical & Materials Industry:



Cement Industry Report 2019



Hardwood Flooring Industry Report 2019



Aluminum Extrusion Market Report 2019



Antimicrobial Coatings Market Report 2019



About Us:



IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.



IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

IMARC Services Pvt. Ltd.

Richard Lewis

6317911145

sales@imarcgroup.com

Source: EmailWire.Com


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