The global mixed xylene market size is projected to exhibit astonishing growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is predicted to surpass a valuation of USD 52,674.9 million in 2023. It is anticipated to hit a valuation of USD 94,332.7 million by 2033. The market is estimated to showcase a modest CAGR of 5.1% from 2023 to 2033.
Demand for mixed xylene is predicted to be prominently influenced by rising demand for para-xylene in chemicals and other end-use industries. Use of mixed xylene as a solvent in multiple end-use industries is expected to increase over the coming years and push mixed xylene demand through 2033. Increasing spending on the research & development of bio-based mixed xylene are expected to bolster market development.
Rising demand for mixed xylene as a fuel blending agent is anticipated to flourish in market growth. The increasing scope of application as a solvent in end-use industries amplifies market’s growth prospects. The high demand for PET production highly influences market growth potentials.
Increasing use of mixed xylene as a solvent is emerging as a prominent trend in the industry across the globe, and this is expected to drive mixed xylene demand through 2033. The market for mixed xylene has seen some prominent changes in the past couple of years due to oversupply and undersupply in various regions.
For instance, ExxonMobil announced a halt of production at its Jurong Aromatics Recovery (JAR) plant in Singapore from January 2021 for an indefinite period due to oversupply and narrow profit margins. However, high demand from multiple end-use industries has encouraged mixed xylene suppliers to increase their production capacity, especially for paraxylene, which sees high demand due to its crucial role in the manufacturing of polymers.
Pakistan's Byco Petroleum, which is now Cnergyico Pk Limited, also depicted interest in building a new aromatics plant that would be capable of producing 27,300 b/d of benzene, mixed xylene, paraxylene, and other chemical products.
It is important to note that mixed xylene harms human health. It can be fatal if the consumption amount is more than a particular amount. It’s harmful if inhaled or swallowed, and the toxicity is dependent on the composition of the medium. It can cause skin irritation, respiratory tract irritation, and also eye irritation such as an allergic reaction. Environmental concerns regarding the use of plastic and stringent government mandates for chemical products are also expected to hamper mixed xylene demand growth to some extent over the coming years.
| Attributes | Details |
|---|---|
| Mixed Xylene Market Share (2022) | USD 49,439.7 million |
| Mixed Xylene Market Share (2023) | USD 52,674.9 million |
| Mixed Xylene Market Share (2033) | USD 94,332.7 million |
| Mixed Xylene Market Share (2023 to 2033) | 5.1% |
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The global mixed xylene market expanded at a remarkable CAGR of 6.5% from 2017 to 2022. In 2017, the global market size stood at USD 36,011.10 million. In the following years from 2017 to 2022, the market witness significant growth, accounting for USD 49,439.7 million in 2022.
In recent years, Ready-to-drink (RTD) beverages market has significantly expanded due to the entrance of new players. The increasing demand for RTD beverages causes a demand spur for mixed xylene. Terephthalic acid, which is used to make the PET monomer bis (2-hydroxyethyl) terephthalate, is manufactured using mixed xylene as a key raw material. As a result, the demand for PET bottles and mixed xylene is interlinked.
The increasing urbanization is spiralling construction activities across the world. The rising construction of residential and commercial buildings augments demand for paints. Since mixed xylene is a solvent by paint manufacturers, its demand is expected to amplify for application in paints. The rising renovation activities are expected to further escalate the product demand. Moreover, the increasing application of mixed xylene by the packaging industry is predicted to benefit market growth.
Isomer grade mixed xylene currently accounts for more than 70% of the global mixed xylene market share. The segment is expected to have a strong stance through the forecast period. The growing demand for solvent grade mixed xylene from multiple end-use industries is expected to increase its consumption over the coming years. Industries such as paint & coatings, pesticides, and others, utilize mixed xylene as a solvent due to its adhesive properties, and this could favor its demand over the coming time period.
On the basis of application, the raw material segment is anticipated to exhibit monumental growth during the forecast period. In 2022, the raw material mixed xylene application segment captured a staggering 83.4% market share. The versatility of mixed xylene increases its application as a raw material across several industries, including chemicals, paints, leather, rubber, automotive, and other industries.
Mixed xylene contains para-xylene, which is an important raw material for Purified Terephthalic Acid (PTA). PTA is used to manufacture PET. The increasing demand for plastics and synthetic fibers for application in construction, automotive, and consumer goods industries is expected to bolster market development.
The mixed xylene for chemicals segment under end-use is expected to attain astronomical growth in coming years. The chemicals segment captured 82.6% of the global mixed xylene market share in 2022. The chemicals industry is a prominent consumer of mixed xylene. It is an important feedstock for producing several chemicals. Its versatility as a solvent and feedstock makes it vital to the chemicals industry.
It is used as a cleaning agent by the electronics industry. It is also used a solvent to manufacture fungicides, herbicides, and insecticides. Ortho-xylene is used to manufacture phthalic anhydride, which is used to manufacture resins and plasticizers. In essence, the high consumption of mixed xylene by the chemicals industry is anticipated foster market development.
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Cumulatively, the market for mixed xylene in East Asia, South Asia, and the Pacific regions holds a dominant market share in the global landscape, and this trend is expected to be followed through 2033. China is the leading consumer of mixed xylene in the world. Increasing use of mixed xylene as a solvent in multiple end-use industries is expected to be a vital factor that is driving mixed xylene consumption.
Increasing production of polyester products, such as polyethylene terephthalate (PET), films, and fibers in China is expected to substantially influence mixed xylene shipments over the forecast period. China is a prominent manufacturing hub. The presence of well-established production and distribution infrastructure makes it a highly favorable market for mixed xylene manufacturers. China mixed xylene market held 6.7% global market shares in 2022.
Demand for mixed xylene in North America is expected to rise at a notable pace over the forecast period. Shipments of mixed xylene in the United States accounted for 16.3% of the global mixed xylene shipments in 2022. Rising use of mixed xylene to improve the octane number of gasoline and other fuels is a prominent trend in this region. Increasing use of mixed xylene as a solvent in multiple end-use industries is expected to be a key factor that is driving mixed xylene consumption.
Surging use of gasoline in the United States substantially influences the demand for mixed xylene. Mixed xylene is used as a fuel blender to improve the octane number of fuel and increase overall efficiency for better performance. Increasing spending on research and development of bio-based fuels in the United States as consumer awareness for environment increases is expected to drive mixed xylene market in this nation. Increasing use of mixed xylene as a solvent in industries such as paints, coatings, adhesives, sealants, etc., is also expected to be a notable trend over the forecast period.
The market for mixed xylene in the United Kingdom held a 4.3% market share in 2022. The mixed xylene demand in these regions is expected to be influenced by the increasing use of mixed xylene in end-use industries like chemicals, rubber, and plastics. Demand for mixed xylene from the Middle East and Africa (MEA) region is expected to be relatively lower than most regions. Mixed xylene demand is expected to rise at a steady pace as industrialization speeds up in the region.
Mixed xylene suppliers are investing in increasing their production capacity to meet the increasing demand from various end-use industries. Mixed xylene companies are also focusing on strategic partnerships, collaborations, mergers, and acquisitions to increase their market presence on a global level.
Recent Developments Observed by FMI:
In April 2023, BioBTX and Agilyx partnered to manufacture circular aromatic chemicals. The collaboration is aimed to strengthen BioBTX technology at a commercial demonstration plant for producing renewable aromatic chemicals (toluene, benzene, and xylene).
Key Players in Mixed Xylene Market:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of Europe, Brazil, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Grade, Application, End-use, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Demand for mixed xylene in plastics, solvents, and detergents contributing to the market growth.
Demand in automotive and pharmaceutical industries is the key driver of market growth.
Mixed Xylene as a solvent in the production of electronic components is driving market growth.
The United States held 25% of the global market share in 2022.
The Asia Pacific is projected to present lucrative growth opportunities in the Market.
1. Executive Summary | Mixed Xylene Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Grade 5.1. Isomer Grade 5.2. Solvent Grade 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Fuel Blending 6.2. Solvents 6.3. Thinners 6.4. Raw Materials 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Paints & Coatings 7.2. Pesticides 7.3. Chemicals 7.4. Gasoline 7.5. Printing, Rubber & Leather 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East & Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Middle East & Africa (MEA) Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Exxon Mobil Corporation 16.2. TOTAL S.A. 16.3. GS Caltex Corporation 16.4. Idemitsu Kosan Co. Ltd. 16.5. LOTTE Chemical CORPORATION 16.6. Royal Dutch Shell plc 16.7. China National Petroleum Corporation 16.8. Chevron Phillips Chemical Company LLC 16.9. China Petroleum & Chemical Corporation 16.10. Flint Hills Resources LLC 16.11. YPF Sociedad Anónima 16.12. SK global chemical Co. Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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Mixed Xylene Market
