Mixed Xylene Market Size, Share & Industry Analysis, By Grade (Isomer Grade, Technical Grade) , By Application (Chemical Synthesis, Solvent, Gasoline Blend, Lubricant, Cleaning Agent, Others) Others and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI102195 | Status : Ongoing

KEY INDUSTRY INSIGHTS

Mixed xylene is the second most-consumed aromatic product in the world for chemicals manufacture. Mixed xylene is a highly volatile, colorless liquid with a sweet odor. Mixed xylene refers to an equilibrium of four isomers with chemical formula C₈H₁₀, namely meta-xylene (45-60%), ortho-xylene (15-20%), para-xylene (15-20%) and ethylbenzene (≤ 20%). Mixed xylene is used as a solvent by paints and pesticides industries. Additionally, it is used in gasoline blends to increase the octane number of the blend and serves as a feedstock for isolation of three xylene isomers.

The number of RTD beverage manufacturers has increased in the market in the past few years, leading to growth in demand for PET bottles. Mixed xylene is the essential raw material for the manufacture of terephthalic acid, that is used in the production of PET monomer, bis (2-hydroxyethyl) terephthalate. Thus, mixed xylene demand has mirrored the demand for PET bottles.

Key Market Driver -

Increase in demand for PET bottles by RTD beverage manufacturers

Key Market Restraint -

Health hazards of xylene

However, mixed xylene is harmful if swallowed or inhaled. It causes respiratory tract irritation, eye & skin irritation, and an allergic reaction. Consumption of more significant amounts of mixed xylene can even prove fatal. This factor restricts the usage of xylene in many industries.

Market Segmentation:

By grade, the market is segmented into isomer grade and technical grade. Based on application, the market is segmented into chemical synthesis, solvent, gasoline blend, lubricant, cleaning agent, and others

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Key Players Covered:

The major companies in the global mixed xylene market report includes Lotte Chemical, YPF S.A., Yeochun NCC Co. Ltd., Marathon Petroleum Corporation, Galp Energia, Mangalore Refinery & Petrochemicals Ltd., GS Caltex Corporation, CITGO Petroleum Corporation, Cosmo Energy Holdings Co. Ltd., Idemitsu Kosan Co. Ltd., Taiyo Oil Company Ltd., Royal Dutch Shell, SK Global Company, Sumitomo Chemical Company, Exxon Mobil Corporation, and Chevron Phillips Chemical Company.

Key Insights

Key Emerging Trends – For Major Countries

Key Developments: Mergers, Acquisition, Partnership, etc.

Latest Technological Advancement

Insights on Regulatory Scenario

Porters Five Forces Analysis

Regional Analysis:

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The global mixed xylene market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the largest market for the mixed xylene market, wherein China holds a significant share of the regional market, followed by South Korea. The flourishing polymer manufacturing hubs in the region are the primary reason for the immense growth. North America would also show improved performance in the future years owing to extensive usage of mixed xylene as a solvent by various industries in the region. Latin America is expected to continue to have a steady market while the Middle East & Africa is expected to show better performance as the packaging industry in the region improves. Europe is also expected to show sound growth with increased demand for mixed xylene as a lubricant in the region.

Segmentation

ATTRIBUTE	DETAILS
By Grade	Isomer Grade Technical Grade
By Application	Chemical Synthesis Solvent Gasoline Blend Lubricant Cleaning Agent Others
By Geography	North America (U.S., and Canada) Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe) Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific) Latin America (Brazil, Mexico, and Rest of Latin America) Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Mixed Xylene Industry Developments

In July 2019, Hyundai Chemical a joint venture between Hyundai Oilbank and Lotte Chemical invested about US$ 222 Mn. Using this investment the venture plans to expand its aromatics production capacity from 1,200 KT to 1,400 KT annually. This capacity is located at the refining complex of Hyundai Oilbank in Daesan, South Korea.

In August 2018, Idemitsu Kosan started production of mixed xylene at its Aichi Refinery in Japan. The annual production capacity of this refinery is 170 KT and this will enable the company to serve the demand of its PET manufacturing customers in Asia.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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