Saurashtra News

Mixed Xylene Market Size Forecast to Reach US$70.1 Billion by 2027

 Breaking News
  • No posts were found

Mixed Xylene Market Size Forecast to Reach US$70.1 Billion by 2027

May 04
11:01 2022
Mixed Xylene Market Size Forecast to Reach US$70.1 Billion by 2027
Mixed Xylene Market | IndustryARC
The Increase in Production and Demand Related to the Paints and Coatings Are Projected to Boost the Mixed Xylene Demand, Enhancing the Growth of the Mixed Xylene Market.

The mixed xylene market size is forecast to reach US$70.1 billion by 2027 after growing at a CAGR of 6.3% during 2022-2027. Mixed xylenes contain a tiny amount of ethylbenzene as well as the three isomers. Mixed xylenes are employed as a solvent in paints and coatings, plasticizers, as well as gasoline blends, and is also used as a raw material for phthalic anhydride, isophthalic acid, purified terephthalic acid, and styrene monomer because they dry quickly and leave little residue. The mixed xylene market is primarily driven by the growth of the rubber and leather industry. Moreover, the demand for mixed xylene for plasticizer manufacturing including PVC plasticizer, PET plasticizer, and more is increasing, which is further propelling the mixed xylene industry growth.

COVID-19 Impact

The Covid-19 pandemic in 2020 created a bottleneck for the manufacturing industries including rubber, paints and coatings, and more. Since, there was a raw material shortage, lockdown restriction, and more due to the Covid-19 pandemic, this impacted the production activities related to synthetic rubber all across the globe. For instance, according to the International Rubber Study Group, in the year 2019, the total synthetic rubber production in the North America region was 2,738,000 Metric Tons, and in 2020 it was 2,403,000 Metric Tons, a decline of 13.9% when compared with the year 2019. Because of the decline in the production of rubber the mixed xylene market suffered revenue losses. However, in the year 2021, countries all across the world announced economic stimulus packages so that industries can recover their losses, this created a potential benefit for the market growth. Moreover, in the long run, the Covid-19 pandemic impact will be minimized with time, this will lead to a mixed xylene industry growth scenario before the Covid-19 time.

Mixed Xylene MarketSegment Analysis – By Application

The solvent held the largest share in the mixed xylene market in 2021 and is growing at a CAGR of 6.2% during 2022-2027. Mixed xylene is widely utilized as a solvent across various end-use industries such as surface coatings, agrochemicals, and more because it dries quickly. Moreover, the latest research and development related to mixed xylene is increasing its adoption as a solvent due to economic as well as process benefits to the end-use industries. Moreover, the increasing adoption of greener technology reduces the harmful impact on the environment, this factor is also leading to its increasing adoption as a solvent. Thus, due to these factors mixed xylene is widely utilized as a solvent across industries, which is accelerating the growth of the market.

For More Information About Mixed Xylene Market @

https://www.industryarc.com/Research/Mixed-Xylene-Market-Research-508141

Report Price: $ 5900 (Single User License)

Mixed Xylene MarketSegment Analysis – By End-Use Industry

The rubber and leather industry held the largest share in the mixed xylene market in 2021 and is growing at a CAGR of 6.8% during 2022-2027. Mixed xylene is widely employed in the rubber and leather industry as a solvent to efficiently dissolve other compounds used in the manufacturing of synthetic. The growth of the synthetic rubber industry is driving up the demand for mixed xylene. According to the European Tyre & Rubber Manufacturers Association (ETRMA), in the year 2020, China hold the major share in the production of synthetic rubber, which was about 22%, followed by the European Union 14%. Moreover, there has been a higher demand for synthetic rubber from countries like China, European Union 27 countries, the U.S, and more. Thus, the growing synthetic rubber industry is anticipated to accelerate the demand for mixed xylene, thereby, fueling the growth of the market during the projected forecast period.

Mixed Xylene MarketSegment Analysis – By Geography

Asia-Pacific region held the largest share in the mixed xylene market in 2021up to 41%. The major economies of the Asia-Pacific region are driven by the growth of the industrial sectors such as rubber, paints& coatings, and others. Thus, creating a potential demand boost for the mixed xylene is benefiting the growth of the market. For instance, European Tyre & Rubber Manufacturers Association (ETRMA), in the year 2020, the highest global level synthetic rubber production was from Asia-Pacific Countries like China, South Korea, and Japan accounting for 22%, 12%, and 8% respectively. Moreover, paints and coatings manufacturers are focusing on increasing the production related to the paints and coatings in the coming years, as a result of this, it is expected the demand for mixed xylene will grow, creating a potential for market growth. For instance, in 2021, Nippon Paints Group made medium to long-term investments in upgrading and streamlining industrial facilities in Japan from 2021-2023 to secure a market edge and boost productivity while building new demand for paints and coatings. Hence, the growth of the rubber and paints and coatings industry is expected to propel the mixed xylene market growth.

Mixed Xylene Market Drivers

Growing Paints and Coatings Production and Demand

In the paints and coatings industry, mixed xylene is utilized as a solvent and thinner for effectively improving the consistency of the products. The increase in production and demand related to the paints and coatings are projected to boost the mixed xylene demand, enhancing the growth of the mixed xylene market. For instance, according to the Japan Paint Manufacturers Association (JPMA), in 2019, the total synthetic resin base paints and coating manufactured in Japan was 1,101,715 tons, which was about 1.2% higher when compared with 2018. Also, according to British Coatings Federation (BCF), due to continued strong consumer demand for DIY commodities such as paints and wallcoverings, as well as a strong manufacturing and construction industry rebound, the first 5 months of 2021 achieved remarkable sales results in both industrial and decorative coatings in the United Kingdom. Overall, paint and coatings sales in the UK increased by 24% compared to the same period in 2020. Therefore, increasing production and growing demand for paints and coatings are driving up the growth of the mixed xylene market.

Increasing Plastic Production

The plasticizer products such as polyethylene terephthalate (PET), polyvinyl chloride (PVC), and other plasticizers utilize mixed xylene as a thickening agent, to enhance the thickness of the products. The increasing plastic production across the globe is expected to benefit the mixed xylene market growth. For instance, according to Plastics Europe a leading plastics association, the total plastic production which included polyethylene terephthalate (PET), polyvinyl chloride (PVC), and other was 367 million tons, and the Asia-Pacific region was the leading plastic manufacturing about 179.83 million tons, which was about 49% of the global plastic production. Moreover, in the year 2019, global plastic production accounted for 368 million tons, an increase of 2.5% when compared with 2018. Thus, the growing plastic manufacturing is anticipated to boost the demand for mixed xylene, further accelerating the market growth.

Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=508141

Mixed Xylene Market Challenges

Negative Impact of Mixed Xylene on Human Health and Environment Mixed xylene has adverse consequences on human health as well as the environment. According to the United States Environmental Protection Agency (U.S. EPA), short-term inhalation exposure to mixed xylenes causes nose, throat, and eye irritation, as well as ocular, neurological, and gastrointestinal damage in humans. Also, long-term inhalation exposure to mixed xylenes causes CNS effects such as headache, dizziness, weariness, tremors, and incoordination, as well as respiratory, cardiovascular, and kidney consequences. Mixed xylenes are classed as a Group D substance by the EPA, meaning they are not carcinogenic to humans. Furthermore, mixed xylene is a highly flammable and hazardous liquid that must be handled with extreme caution to avoid fire and leakage. Anyone who works with mixed xylene must read and follow the “Material Safety Data Sheet (MSDS)” and wear the proper safety equipment. Thus, these serious health concerns due to the usage of mixed xylene are limiting the growth of the market.

Mixed Xylene Industry Outlook

Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the mixed xylene market. Mixed Xylene top 10 companies include:

Exxon Mobil Corporation

S.K. Global Chemical

BP Plc.

Royal Dutch

Shell Plc.

Taiyo Oil Company Limited.,

Total S.A.

Lotte Chemical Corporation

Marathon Petroleum Corporation

Idemitsu Kosan Corp. Limited

Mangalore Refinery & Petrochemicals Limited

Recent Developments

In May 2020, for its petrochemical complex development in Daya Bay, China, CNOOC Huizhou Petrochemical Company Limited (CHPCL) had chosen Axens’ ParamaXTechnology Suite. The project planned to boost CHPCL’s high-purity aromatics production capacity to 3,000,000 tonnes per year, including mixed xylene.

Key Takeaways

Asia-Pacific region dominated the mixed xylene market, owing to its dominating position in rubber manufacturing. According to the International Rubber Study Group, in the year 2020, the Asia-Pacific region was the dominating manufacturer of rubber worldwide.

The use of PVC plasticizers for food and beverage packaging is increasing, which has increased PVC plasticizer manufacturing, creating a potential for market growth.

Mixed xylene contributes to more consistent drying and higher spraying efficiency, making it a prominent solvent in agrochemicals, this is benefiting the demand growth for the mixed xylene industry.

However, mixed xylene has serious implications on human health and the environment, this factor is restraining the growth of the mixed xylene market.

Relevant Reports

Petrochemicals Market – Forecast (2022 – 2027)

https://www.industryarc.com/Report/19541/petrochemicals-market.html

For more Chemicals and Materials Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/

Related Articles