Global Meta-Xylene Market By Application (Isophthalic Acid, 2,4- and 2,6-xylidine, Solvents, Other Application), Type (Sorbex, UOP, Others), End- User (Construction, Packaging, Automotive, Aerospace), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Meta-Xylene Market
Global meta-xylene market is set to witness a steady CAGR of 4.25% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand for adhesives and increasing demand of meta- xylene in construction industry are the factor for the growth of this market.
Market Definition: Global Meta-Xylene Market
Meta-xylene or m- xylene is a colorless inflammable liquid which is mainly used for the production of isophthalic acid. They are usually in insoluble in water and have sweet fragrance. They are usually isomer of para-xylene and ortho-xylene. They are widely used in industries such as aerospace, automotive, packaging, construction and others. Rising demand for isophthalic acid in various industries is fuelling the growth of this market.
- Rising consumption of isophthalic acid is driving the market
- Increasing demand for paint and coating in construction industry will also propel market
- Growing prevalence for adhesives will also drive market
- Rising demand of m- xylene from various end- users will also contribute as a factor for the market
- Increasing health related problems related with m- xylene will restrain market
- Harmful and hazardous effects of meta- xylene will also hamper market
Global Meta-Xylene Market Segmentation:
- Isophthalic Acid
- 2,4- and 2,6-xylidine
- Other Application
By End- User
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In August 2016, Mitsubishi Gas Chemical Company Inc., announced that from March 2017 they are going to reactivate their meta-xylene plant in Karashiki. It has the total production lines with annual capacity of 220,000 ton out of which this production line annual capacity of 70,000 tons. This reactivation will help the company to meet the need and requirement of meta- xylene worldwide and will also meet the requirement of MX in leather industry and purified isophthalic acid.
- In August 2016, Indorama Ventures Public Company Limited announced that they have signed an agreement with Cepsa for metaxylene. As per agreement, Cepsa will develop the second metaxylene unit so that they can supply it to IVL and this new unit has the ability to produce 70000 metric tonnes per year. This agreement will help the company to meet the growing demand for isopthalic acid worldwide.
Global meta-xylene market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of meta-xylene market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global meta-xylene market are MITSUBISHI GAS CHEMICAL COMPANY, INC., LOTTE Chemical CORPORATION, Cepsa, Formosa Chemicals & Fibre Corp., Avantor, Inc., BP p.l.c., Chevron Phillips Chemical Company, Royal Dutch Shell, Perstorp, Merck KGaA, Thermo Fisher Scientific Inc., Tokyo Chemical Industry UK Ltd., Petrochemicals Europe, Redox Pty Ltd,Choice Organochem LLP, Opsis AB, Parchem fine & specialty chemicals, Central Drug House, GS Caltex Corporation, Hir Primak Enterprise. and others
Research Methodology: Global Meta-Xylene Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved