Overview of the global xylene market

With the rise in production of passenger cars, the automobile industry has witnessed significant growth in the recent years. According to Technavio's market research report, the growth of the automotive industry will be one of the primary factors that will fuel the growth of the xylene market in the coming years. Xylene finds applications in insulation, sealing, bonding, coating, in different automotive parts such as engine, electronics, interior, and body. Moreover, xylene is also used in automotive coatings which due to its durability, sustainability, resistivity, safety, performance, efficiency, and cost-effectiveness. With the continuous growth of the automobile industry, the demand for xylene will increase significantly in the coming years, fueling market growth. Our market research analysts estimate that by volume, this market will grow steadily at a CAGR of more than 7% by 2021.

The growth of the shale gas market is one of the key trends that will gain traction in the xylene market during the next few years. The renovation of shale wells is carried out by introducing advanced technology to older wells. The production of shale gas is expected to increase in the next five years, and it is gaining traction due to its ability of producing less carbon emission. Owing to the increasing demand for shale gas, the production of shale gas hydraulic fracturing technique has increased significantly. The demand for low price feedstock will increase due to the increase in the production of shale gas, which in turn will drive the xylene chemical market.

Competitive landscape and key vendors

The xylene market is fragmented due to the presence of several vendors across the world. The xylene chemical market is dominated by key vendors and are mostly present in APAC region. The vendors compete on several parameters to sustain the competitive environment such as cost of production, innovation in products, price, operational cost, R&D, and product quality.

The leading vendors in the market are-

• Braskem
• Exxon Mobil
• Formosa Chemicals & Fibre
• JXTG Nippon Oil & Energy Corporation
• Reliance Industries
• Royal Dutch Shell
• US Petrochemical

The other prominent vendors in the market are Banner Chemicals, China National Petroleum Corporation, Chevron Phillips Chemical Company, GS Caltex, Gazprom Neft PJSC, KETUL CHEM, Koch FHR, LOTTE CHEMICAL, Mangalore Refinery & Petrochemicals, MP Biomedicals, MITSUBISHI GAS CHEMICAL COMPANY, Nutan Chemicals, PTT Global Chemical, RIDHDHI SIDHDHI CHEMICALS, Sigma-Aldrich, THAI OIL, Total, Triveni chemicals, Versalis, and Vinmar International.

Segmentation by product type and analysis of the xylene market

• Paraxylene
• Orthoxylene

During 2016, paraxylene segment accounted for the major shares of the xylene chemical market. Paraxylene find its application in producing film, fiber, polyethylene terephthalate (PET) bottle resins, and herbicides. Moreover, the increasing consumption of PET, especially soft drinks bottles and packaging is expected to drive the demand for this segment positively.

Segmentation by geography and analysis of the xylene market

• APAC
• Europe
• North America
• ROW

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the xylene market throughout the forecast period. The major reason for the growth of this industry in this region is due to the growth in automotive, textile, and construction industries. Moreover, increased consumption of phthalic anhydrides by several countries in this region will also drive the xylene chemical market positively.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global xylene market?
• What are the key market trends impacting the growth of the global xylene market?
• What are the challenges to global xylene market growth?
• Who are the key vendors in the market?
• What are the market opportunities and threats faced by the vendors in the global xylene market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global xylene market?

Technavio also offers customization on reports based on specific client requirement.

The chemicals and materials industry forms the axis of other industries including metals and minerals, agrochemicals and fertilizers, bio-chemicals and biomaterials, and specialty chemicals, among others. Technavio's market research reports on the chemicals and materials industry identifies the various factors influencing the growth of this industry in the future. According to the market research analysts, the increasing use of bio-based paraxylene in bioplastics for PET bottle manufacturing may positively affect the growth of the global xylene market. 

This upcoming report on the xylene market offers an extensive analysis of the competitive and vendor landscape by covering some of the vendors operating in this market space, such as BASF, Merck, Evonik Industries, Chevron Philips Chemical, Flint Hills Resources, among others. To accurately predict the growth prospects of this market, our analysts closely follow the growth trajectory of similar markets like the global phosphoric acid market which is expected to grow at a CAGR of around 2% by 2021.

Along with an analysis of the factors affecting market growth, this report also offers actionable insights into the competitive landscape, market segmentation, and market size of the xylene market. To help businesses get a holistic overview of the market, this upcoming report covers geographies like the Americas, APAC, and EMEA. Moreover, this report segments the market based on the applications of xylene as a coating and clearing agent, polyester fibers, and in the packaging material.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.