Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 202.06 Billion |
| USD 303.11 Billion | |
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Global Meta-Xylene Market, By Type (Sorbex, UOP, Others), Application (Isophthalic Acid, 2, 4- and 2, 6-xylidine, Solvents, Other Application), End User (Construction, Packaging, Automotive, Aerospace) – Industry Trends and Forecast to 2030.
The meta-xylene market size is expected to grow significant rate during the forecast period of 2023-2030. The market's growth can be attributed to factors such as growing consumption of isophthalic acid and increasing demand for sealants and adhesives in numerous end-use industries. Furthermore, over the last few years, many companies involved in petrochemical production have expanded and established their production. However, significant growth has been witnessed in the petrochemical sector, enhancing the meta-xylene market growth.
Data Bridge Market Research analyses that the meta-xylene market is expected to reach USD 303.11 billion by 2030, which is USD 202.06 billion in 2022, registering a CAGR of 5.20% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Report Metric
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Details
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Forecast Period
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2023 - 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Sorbex, UOP, Others), Application (Isophthalic Acid, 2,4- and 2,6-xylidine, Solvents, Other Application), End User (Construction, Packaging, Automotive, Aerospace
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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BASF SE (Germany), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), LOTTE Chemical CORPORATION (South Korea), Shell Plc. (U.K.), Chevron Phillips Chemical Company LLC. (U.S.), BP PLC (U.K.), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), Perstorp (Sweden), Exxon Mobil Corporation (U.S.), Parchem fine & specialty chemicals (U.S.), Braskem (Brazil), Honeywell International Inc. (U.S.), Sulzer Ltd (Switzerland), GS Caltex Corporation. (South Korea), Cepsa (Spain)
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Market Opportunities
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Market Definition
Xylene is a colorless and unstable liquid hydrocarbon which is obtained from wood, coal and petroleum. Meta-xylene is an isomer of para-xylene and ortho-xylene. It is an aromatic hydrocarbon, with two methyl substituent which attached at the meta positions of the benzene ring. It is generally used in the production of 1, 3-Dimethylbenzene, Isophthalic acid, 1, 3-xylene, m-xylol, and m-dimethylbenzene are some other names of the chemical.
Drivers
Widespread usage of meta-xylene in the formulation of isophthalic acid is anticipated to drive the demand for meta-xylene. Increase in usage of isophthalic acid in architectural coatings and aerospace coatings is also anticipated to increase the growth of the meta-xylene market. Surge in demand for paints and coatings in the construction sector is propelling the demand for isophthalic acid. This, in turn, is boosting the meta-xylene market growth. In line with this, high consumption of isophthalic acid and growth in demand for sealants and adhesives in end-use industries are anticipated to act as major factor of the meta-xylene market during the forecast period.
The manufacturers in the meta-xylene market are highly focusing on increasing their production capacity. The major market players in the meta-xylene market are investing in increasing the capacities of existing plants and setting up new plants. For instance, Origin Materials, a US-based chemicals company, has launched its second plant in Geismar to produce polyethylene terephthalate precursor p-xylene. Furthermore, Iran will start the construction of a new 300,000 b/d refinery Shahid Soleimani in 2022, which is predictable to produce ethylene, propylene and paraxylene along with jet fuel, gasoline, diesel, and fuel oil. This project will be completed in coming five years.
Opportunities
The growing demand for paraxylene all over the globe contributes to the growth of the xylene market. Paraxylene is isomers of xylene and is important in manufacturing polyethylene terephthalate (PET). Polyethylene terephthalate (PET) is used in industries such as food packaging, automotive, beverage packaging, consumer goods, sheets & films and construction. The upsurge in the requirement for packaging materials has augmented the demand for polyethylene terephthalate (PET) and hence contributed to the paraxylene market growth. New production plants have been set up to meet the growing demand for paraxylene. For instance, according to the analysis Jinlianchuang, a Chinese provider of comprehensive intelligent and digital services for bulk commodities, in 2022, is expected to have 6 sets of paraxylene units in operation with a manufacture capacity of 11.89 million tons/year with a 41.3% surge. The growth in the production capacity will support the growing demand for paraxylene. The growing demand for paraxylene thereby create immense and ample opportunities for the growth of the xylene market.
Restraints/ Challenge
Meta-xylene has several hazardous and harmful effects: Meta-xylene is highly harmful to environment and human health. If a large amount of xylene enters soil from a hazardous waste site, accidental spill, or a landfill, it may travel through the soil and then contaminate the drinking water wells. Exposure to meta-xylene may lead to vomiting, headaches and nausea. Hence, these harmful hazards are the foremost and biggest challenge for the market growth.
This meta-xylene market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the meta-xylene market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
The outbreak of Covid-19 has severe impact on all businesses including distribution, manufacturing, and many other worldwide. Also, manufacturers of petrochemical products went under severe situation owing to shortage of feedstock, thus resulting in lower production of products. Meta-Xylenes are used as a solvent in the rubber, printing and leather industries but due to strict government rules, meta-xylene market faced adverse effects during pandemic.
On the brighter side, increase in the usage of face shields, transparent masks, food, and e-commerce packaging enhancing the demand for the meta-xylene derivatives, including dimethyl terephthalate, purified terephthalate acid and polyethylene terephthalate. These factors augmented the demand for meta-xylene in pandemics. Meta-xylene shipments are projected to progressively increase in the post-pandemic period.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
The meta-xylene market is segmented on the basis of type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Application
End User
The meta-xylene market is analyzed and market size insights and trends are provided by country, type, application and end user as referenced above.
The countries covered in the meta-xylene market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to dominate the meta-xylene market in terms of revenue growth and market share because of the large-scale production of polyethylene terephthalate (PET) plastic. Furthermore, rapid increase in the manufacture capacity of m-xylene by major market players and high consumption of carbonated alcoholic beverages and soft drinks will further boost the market growth.
North America is expected to be the fastest developing region during the forecast period of 2023-2030 owing to rapid rise in the demand for xylene products in paints and coatings, automotive and other industries in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The meta-xylene market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to meta-xylene market.
Some of the major players operating in the meta-xylene market are:
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To support market growth and help clients navigate the impact of geopolitical shifts, DBMR has integrated in-depth supply chain analysis into its Global Meta Xylene Market research reports. This addition empowers clients to respond effectively to global changes affecting their industries. The supply chain analysis section includes detailed insights such as Global Meta Xylene Market consumption and production by country, price trend analysis, the impact of tariffs and geopolitical developments, and import and export trends by country and HSN code. It also highlights major suppliers with data on production capacity and company profiles, as well as key importers and exporters. In addition to research, DBMR offers specialized supply chain consulting services backed by over a decade of experience, providing solutions like supplier discovery, supplier risk assessment, price trend analysis, impact evaluation of inflation and trade route changes, and comprehensive market trend analysis.
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated 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 drop down your inquiry.
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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.