Global Xylene Market growing at a CAGR of 5.9% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Nov 2023
Key Market Overview
Consegic Business Intelligence analyzes that the xylene market is predicted to grow at a compound annual growth rate of 5.9% from 2023 to 2031 and is expected to reach USD 63.08 billion in 2031 and 39.94 billion in 2023 which was valued at USD 37.88 billion in 2022.
The report highlights the growing demand for xylene in solvents and monomers manufacturing across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the xylene market.
Global Xylene Market By Overview
The xylene market is bifurcated into the type, application and end-user industry. Based on the type, the market is segmented into ortho-xylene, meta-xylene, para-xylene, and mixed xylene. In 2022, the para-xylene segment dominate the overall xylene market. Based on the application, the market is segmented into solvents, monomers, specialty chemicals, and others. In 2022, the solvents segment dominates the overall xylene market. Based on end-user industry, the market is segmented into petrochemicals, paints and coatings, textile, electronics, pharmaceuticals, leather, and others. In 2022, the petrochemicals segment dominates the overall xylene market.
Get Free SampleMarket Dynamics
Driver:
- Growing demand for xylene in solvents and monomers manufacturing
- Increasing use of xylene in paints and coatings industry
Restraints:
- Availability of solvent alternatives and volatility in crude oil prices
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Ortho-Xylene, Meta-Xylene, Para-Xylene, and Mixed Xylene |
| By Application | Solvents, Monomers, Specialty Chemicals, and Others |
| By End-user Industry | Petrochemicals, Paints and Coatings, Textile, Electronics, Pharmaceutical, Leather, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Exxon Mobile Corporation, Reliance Industries Limited, INEOS, and Mitsubishi Gas Chemical Company Inc., which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the xylene market is expected to witness substantial growth in the coming years due to growing demand for xylene in solvents and monomers manufacturing in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Exxon Mobile Corporation
- Reliance Industries Limited
- INEOS
- Mitsubishi Gas Chemical Company Inc.
- CNPC (China National Petroleum Corporation)
- Chevron Phillips Chemical Company
- Eastman Chemical Company
- Honeywell International Inc.
- Saudi Arabian Oil Co.
- Royal Dutch Shell plc