register free | resend password


Paraxylene Market Size, Share, Growth, Price Trends and Industry Outlook Report, 2012 to 2022

The global paraxylene market size was valued at USD 36.1 billion in 2016 and is expected to develop at an estimated CAGR of 10.5% over the forecast period. Stable demand from polyester manufacturers emerged as one of the major driving factors for product demand.

ID: 1554743
recent pressrelease next pressrelease

(businesspress24) - The global paraxylene market size is expected to reach USD 66.9 billion by 2022, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.5% over the forecast period. Rising demand for fiber and polyester resin from numerous end-use industries is projected to propel product demand over the coming years.

Rapid growth in demand for polyester fabric is acting as a major market driver. Surging demand for purified terephthalic acid (PTA) in polyester production process is projected to provide fillip to the paraxylene market. Lower polyester manufacturing cost for Dimethyl terephthalate (DMT) and terephthalic acid and higher conversion efficiency of Purified Terephthalic Acid (PTA) have attracted polymer industry players to expand their terephthalic acid product portfolio.

Overall industry is facing oversupply, which is pushing manufacturers towards reducing product prices and output. Sudden drop in total import of PTA from China has adversely affected the global market. Oversupply of PET in past few years has now forced terephthalic acid manufacturers to lower the capacity utilization rate in recent past.

PTA production capacity has expanded faster than the demand, affecting global utilization rate. Sudden decrease in Chinese PTA import on account of increased in-house production has drastically affected PTA manufacturers located in Asia Pacific. Asia Pacific emerged as the largest region for the global paraxylene market with a share of more than 79% in 2014. Availability of low-cost labor and raw material along with the presence of end-use industries is projected to drive the regional market at the fastest CAGR over the next few years.

Further key findings from the report suggest:


& Energy Corp., Reliance Industries Ltd., CNPC, S-Oil, FCFC, Dragon, GS Caltex, ONGC, Orpic, ExxonMobil, Dalian Fujia Dahua, Toyo, Pertamina, and Teijin Fibers



More information:
http://https://snip.ly/v32rly



Keywords (optional):

paraxylene, chemicals, chemical, chemical-industry, bulk-chemical, commodity-chemicals,



Company information / Profile:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

PressRelease by

Requests:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales(at)grandviewresearch.com
For More Information: www.grandviewresearch.com



PressContact / Agency:



published by: HexaResearch
print pressrelease  send to a friend  

Date: 12/13/2019 - 13:53
Language: English
News-ID 1554743
Character count: 2736
Kontakt-Informationen:
Firma: Grand View Research, Inc.
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: San Francisco
Telefon: 1-888- 202-9519

Meldungsart: Financial
Versandart: send
Freigabedatum: 13.12.2019
Comments:



Number of hits: 884

Linking-Tips:



Direct Link to this PressRelease:






We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease






All members: 9 438
Register today: 0
Register yesterday: 0
Members online: 0
Guests online: 54


Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.