The Asia Pacific Xylene Market would witness market growth of 8.3% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 9,618.5 Kilo Tonnes, showcasing a growth of 7.1% (2019-2022).
Para-xylene is a key raw material for producing polyester fibers and resins, extensively used in textiles, packaging, and plastic bottles. Xylene is a versatile solvent widely used in the chemical industry for its excellent solvency properties. It is essential for dissolving resins, rubber, and various coatings. Xylene is a common component in paints and coatings due to its ability to control viscosity, improve gloss, and enhance durability. It produces adhesives and sealants, providing strong adhesion properties and quick drying times. In healthcare, xylene is a vital component in histopathology, where it serves as a clearing agent in tissue processing and slide preparation for pathological examination. Xylene-based inks are crucial for high-speed printing processes and are commonly used in the printing and packaging industry.
Furthermore, growing environmental consciousness has shifted towards bio-based xylene production, utilizing sustainable feedstocks. The broad sustainability objectives of lowering carbon emissions and reliance on fossil fuels align with this trend. Ortho-xylene is witnessing a surge in demand due to its application in phthalic anhydride production, which is used in manufacturing phthalate plasticizers. The expanding plastics industry drives this trend.
The petrochemical industry in the Asia-Pacific region has been on the rise, driven by population growth, urbanization, and increasing industrialization. as per the report titled Chemical and Petrochemical Statistics at a Glance-2022, released by the Indian Department of Chemicals and Petrochemicals, India ranks 4th in Asia and 6th globally, with chemicals sales valued at €104 billion in 2021. India's capital spending in World Chemicals is valued at €5.0 billion in 2021, compared to €3.4 billion in 2011. India's R&I spending in the chemicals industry is valued at €1.7 billion in 2021. Paraxylene was in the export of the top five Petrochemical Products to different countries during the FY 2021-22 with a value of Rs.14,478/- Cr. Therefore, growth in the petrochemical sector in China and India will help raise the demand in the regional market.
The China market dominated the Asia Pacific Xylene Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6,873.9 Million by 2030. The Japan market is registering a CAGR of 7.7% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 9% during (2023 - 2030).
Based on Additives, the market is segmented into Solvents, Monomers, and Others. Based on Type, the market is segmented into Mixed Xylene, Ortho-Xylene, Meta-Xylene, and Para-Xylene. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Xylene Market is Predict to reach $52.3 Billion by 2030, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Reliance Industries Limited, INEOS Group Holdings S.A., Mitsubishi Chemical Holdings Corporation, Sinochem Holdings Corporation Ltd (SASAC), Eastman Chemical Company, Honeywell International, Inc., Saudi Arabian Oil Company, Shell plc, Exxon Mobil Corporation, and Chevron Phillips Chemical Company LLC.
By Additives (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-30)
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