USD 42 million
Report ID: SQMIG15E2348 | Region: Global | Published Date: February, 2024 | Pages: 272 | Tables: 71 | Figures: 75
Mixed Xylene Market size was valued at USD 42 million in 2021 and is poised to grow from USD 44.6 million in 2022 to USD 76.5 million by 2030, growing at a CAGR of 6.18% in the forecast period (2023-2030).
Para-xylene, ortho-xylene, meta-xylene, and ethylbenzene make up mixed xylene. Although the proportion of ethyl benzene in mixed xylene is usually less than 20%, the distribution of xylene isomers in the combination varies. Mixed xylene is a colorless, flammable liquid with a pleasant odor. Mixed xylene is mostly a synthetic compound. Mixed xylene is one of the top 40 compounds manufactured in the United States in terms of volume. The increased usage of mixed xylene as a solvent in end-use industries such as paints and coatings and adhesives and sealants is one of the reasons driving the global mixed xylene market.
Another element driving the demand for mixed xylene is its use in fuel blending to boost the octane number. However, rising consumer knowledge of the benefits of using plastic-free items and the harmful effects of mixed xylene on human health and the environment may limit the worldwide market for mixed xylene soon. In the coming years, increased research and development expenditure on bio-based mixed xylene for use in paints, coatings, adhesives, and sealants could provide new prospects for the mixed xylene market.
Global Market Size
USD 42 million
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The global mixed xylene market has been segmented based on application, end-user, and region. Based on application, the segment is classified into fuel blending, solvents, thinners, and raw materials. Based on the end-user, the segment is classified into automotive, building & construction, paints & coatings, aerospace & military, marine, electrical & electronics, agrochemical, oil & gas, chemical, and others. Based on the region, mixed xylene is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Mixed Xylene Market Analysis by End-User
The building and construction category accounted for the largest portion of the global ortho-xylene market. During the forecast period, the market for ortho-xylene is expected to be driven by the rapid rise of the construction industry in the Asia Pacific. The global market for xylene is expanding as a result of the rising demand for paraxylene. One of the isomers of xylene, paraxylene, is necessary for the creation of polyethylene terephthalate (PET). PET is utilized in a variety of sectors, including construction, automotive, consumer products, sheets & films, food packaging, and beverage packaging. The market for paraxylene is expanding as a result of the rising demand for packaging materials, which has raised the demand for PET.
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During the forecast period, Asia-Pacific is expected to be the largest and fastest-growing region in the global mixed xylene market. The growing use of mixed xylene as a solvent in sectors including paints and coatings, adhesives and sealants, chemicals, and printing is likely to enhance the market in the area. Furthermore, mixed xylene is primarily utilized as a raw material in the production of agricultural pesticides, which is projected to drive demand in the Asia Pacific area.
North America held the second-largest proportion of the worldwide market. One of the driving drivers for the market in the North American region is the increased usage of gasoline in the US, as well as the increased use of mixed xylene in gasoline to improve octane number (anti-knocking) attributes of gasoline, Europe had the third biggest market share in the global mixed xylene market. During the study period, increased demand for mixed xylene in the chemical, rubber, and plastics industries in this region is likely to fuel regional market expansion.
The market in the Middle East and Africa is expected to increase positively during the forecast period, owing to improved industrial circumstances following the political and economic downturn earlier seen
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Mixed Xylene Market Driver
Mixed Xylene Market Restraint
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The key players in the Bispecific antibodies market are working on continuous innovation and increasing product portfolios for therapeutic outcomes for patients. Along with the introduction of new products in the market and also with various mergers and acquisitions taking place they are trying to meet the continuous customer demand. For Instance, Lotte Chemical and Hyundai Oilbank entered into a joint venture to form Hyundai Chemical and recently invested an estimated US$ 222 Mn for expanding the production capacity of aromatics located in Daesan, South Korea from 1200 KT to 1400 KT on an annual basis.
Mixed Xylene Market Top Player's Company Profiles
Mixed Xylene Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by the end-user, the building and construction segment dominated the market and is expected to see substantial growth in the forecast period, by application, the Fuel binder exercised the largest market share and will further continue to grow, and further, by region, the Asia Pacific region held the maximum market share and will continue to be the maximum market share holder in the forecast period. Thus taking into consideration the technological advancement, increased funding, and requirements the mixed xylene market is expected to grow significantly.
|Market size value in 2021
|USD 42 million
|Market size value in 2030
|USD 76.5 million
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
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MARKET DYNAMICS & OUTLOOK
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For the Global Mixed Xylene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Mixed Xylene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Mixed Xylene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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