Xylenes demand to be driven by enormous growth in the fiber market in Asia-Pacific region combined with rising demand for the applications it is being used for.
The global demand for Xylene has been growing sharply over the last decade. Much of the increase in demand for Xylene came from the Asia Pacific region, and the same trend is expected to continue in the near future.
Xylene is an aromatic hydrocarbon widely used in industrial and medical technology as a solvent. It is a colorless, sweet-smelling liquid or gas occurring naturally in petroleum, coal and wood tar. Xylene characteristics can be described as aromatic hydrocarbon solvent, mixture of three different isomers i.e., meta-xylene, ortho-xylene, para-xylene. It is widely used as a solvent in the leather, rubber, and printing industries. Other various applications of xylene include chemical intermediates, and high-motor and aviation gasoline blending agents, breathing devices (inhalers).
The Asia Pacific region is emerging as the textile industry hub of the world. The advantage of low costs because of cheap labor is aiding the growth of textile industry in this region. There has been a continuous shift in the manufacturing industry from the developed regions of the world like North America and Western Europe, to take advantage of the low-cost facilities available in Asia Pacific. As a result, the demand is continuously increasing in the Asia Pacific region; with the Chinese economy leading, followed by India and South Korea. Much of the Xylene produced is used to make Pure Terephthalic Acid (PTA), which is further used in polyester production. This trend of increased consumption from the Asia Pacific countries is expected to continue in future. And as a result polyester fiber market in Asia Pacific will the global demand in the coming years.
The market for Xylenes in Asia-Pacific has been valued at $48.6billion in the year 2013, and is expected to grow at 11.4% annually. It is projected to reach $83.2billion by the end of the year 2018. Xylenes-Asia-Pacific constitutes 81.5% of Global Xylenes market, and are poised to grow its market share to 83.3% by the end of year 2018.
Browse through the market data tables, figures and detailed ToC on the “Asia-Pacific Xylenes Market”.
North America Xylenes Market:
Xylene industry scenario in North America from 2013 to 2018 seems to be steady in terms of capacity growth, installed plant capacity by key feedstock, production process, and technology. Xylenes-North America market has been valued at $7.2 billion in the year 2013, and is expected to at 9.0% annually. It is projected to reach $11.1 billion by the end of the year 2018. Xylenes-North America constitutes 12.1% of Global Xylenes market, and is poised to grow its market share to 11.1% by the end of year 2018.
Europe Xylenes Market:
The market for Xylenes in Europe has been valued at $2.7 billion in the year 2013, and is expected to grow at 6.3% annually. It is projected to reach $3.6 billion by the end of the year 2018. Xylenes-Europe constitutes 4.5% of Global Xylenes market, and are poised to grow its market share to 3.6% by the end of year 2018. Peers of Hydrocolloids are Para-xylenes, Ortho-xylenes, and Meta-xylenes comprising 89.0%, 9.4% and 1.6% respectively, of the Global Xylenes market. It is segmented on basis of applications and geographies.
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