Market Research Future (MRFR) has published a cooked research report on the “Global Ortho Xylene Market” that contains information from 2018 to 2032. The Ortho Xylene market is estimated to register a CAGR of 4.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Ortho Xylene market— Creasyn Finechem (Tianjin) Co., Ltd., Doe & Ingalls of North Carolina Inc., Dyna Chem Inc., Minda Petrochemicals Ltd., Shell Chemicals, Sonoco Chemicals, USA Petrochemical Industries Ltd., ExxonMobil Chemical Company, China National Petroleum Corporation, JXTG Nippon Oil & Energy Corporation.
Ortho Xylene Market Highlights
The global Ortho Xylene market is accounted to register a CAGR of 4.50% during the forecast period and is estimated to reach USD 4.30 billion by 2032.
The ortho-xylene market is marked by notable growth, driven by its extensive use in the production of phthalic anhydride, a key ingredient in the manufacturing of plasticizers, resins, and coatings, coupled with increasing demand from the construction, automotive, and packaging industries globally. Rising urbanization and infrastructure development contribute to the demand for these end-use products, further propelling the ortho-xylene market. Additionally, the chemical's applications in the production of solvents, polyester fibers, and herbicides add to its versatility and market prominence.
Segment Analysis
The global Ortho Xylene market has been segmented based on type, application and end use.
On the basis of type, the market is segmented into Ortho-Xylene, Meta-Xylene and Para-Xylene. The para-xylene segment was attributed to holding the largest market share in 2022, due to its widespread applications in the production of purified terephthalic acid (PTA).
Based on application, the global Ortho Xylene market has been segmented into Phthalic Anhydride, Bactericides Herbicides and Lube Oil Additives. The phthalic anhydride segment was expected to hold the largest market share in 2022, due to its pivotal role as a key derivative of ortho-xylene.
Based on end use, the global Ortho Xylene market has been segmented into Automotive, Building & Construction, Paints & Coatings, Aerospace & Defense, Electric & Electronics, Agrochemical, Oil & Gas and Chemical. The building & construction segment was expected to hold the largest market share in 2022, due to the compound's integral role in the production of phthalic anhydride.
Regional Analysis
The global Ortho Xylene market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Ortho Xylene market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Ortho Xylene market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Ortho Xylene market comprises of Middle East, Africa, and Latin America.
The largest market share for Ortho Xylene was maintained by the North American regional sector. This increase is attributed to its significant usage in the production of phthalic anhydride, which is a key component in the manufacturing of plasticizers, resins, and coatings. The robust demand for these materials is attributed to various industries, including construction, automotive, and packaging, leading to a sustained need for ortho-xylene in the region. The growth is further fueled by ongoing industrialization, infrastructure development, and the increasing use of ortho-xylene in diverse applications.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for Ortho Xylene is driven by robust demand for raw materials in the production of phthalic anhydride, a key component in the manufacturing of plastics, resins, and coatings. The construction, automotive, and packaging industries in Europe contribute significantly to this demand, as ortho-xylene is a crucial intermediate chemical in these sectors.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the region's burgeoning construction and manufacturing industries, the increasing demand for plastics, resins, and coatings in infrastructure development and urbanization projects, and the growing production of polyester fibers and solvents, making it a key player in the global chemical market.
Furthermore, the rest of the world's Ortho Xylene market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's expanding petrochemical and chemical industries, increasing demand for raw materials in the production of plastics, resins, and solvents, as well as the growing construction and manufacturing activities across various sectors.
Key Findings of the Study
- The global Ortho Xylene market is expected to reach USD 4.30 billion by 2032, at a CAGR of 4.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the robust growth in construction, automotive, and packaging sectors, along with the expanding chemical industry.
- Based on type, the para-xylene segment was attributed to holding the largest market in 2022, with an approximate market share of 45–60%.
- Creasyn Finechem (Tianjin) Co., Ltd., Doe & Ingalls of North Carolina Inc., Dyna Chem Inc., Minda Petrochemicals Ltd., Shell Chemicals, Sonoco Chemicals, USA Petrochemical Industries Ltd., ExxonMobil Chemical Company, China National Petroleum Corporation, JXTG Nippon Oil & Energy Corporation.
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Companies Covered | 15 |
Pages | 128 |
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