Global Paraxylene Market: Rising Use of Pet Packaging in Apac to Drive Demand, Observes Tmr

Transparency Market

Research

Paraxylene Market (Application - Purified Terephthalic

Acid (PTA), Dimethyl Terephthalate (DMT), Coatings,

Pesticides, and Solvents) - Global Industry Analysis,

Size, Share, Growth, Trends, and Forecast 2016 - 2024

Published Date

12-Oct-2016

97 Page Report

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Global Paraxylene Market: Rising Use of PET Packaging in

APAC to Drive Demand, observes TMR

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Paraxylene Market

REPORT DESCRIPTION

Paraxylene Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

The top three vendors in the global paraxylene market, namely Reliance Industries Limited, S-Oil Corporation,

and BP plc., collectively accounted for a meagre 12% of the overall market in 2015, says a recent market

research report by Transparency Market Research. Nearly 85% of the world’s paraxylene production is

credited to a vast number of small firms or subsidiaries of larger chemical companies, making the market

highly fragmented. Companies are focusing on export as a tool for geographical expansion in existing as well

as established markets in Asia Pacific. High chances of forward integration by key manufacturers across the

value chain are expected to increase competition in the market.

Transparency Market Research states that the global paraxylene market, which held an opportunity of

US$33.03 bn in 2015, is expected to exhibit a healthy 7.0% CAGR from 2016 through 2024. If the prediction

holds true, the market will rise to US$60.04 bn by 2024. Of the key applications of paraxylene, its use in the

production of purified terephthalic acid (PTA) earns the market its most significant and dominant share in

revenues. In 2015, the segment accounted for a nearly 97% of the overall volume of paraxylene consumed in

the global market. From a...