What is the global market size of Mixed Xylene Market?

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).

Global Mixed Xylene Market Size, Share, Growth Analysis, By End-User(Automotive, Building & Construction), By Application(Fuel blending, Solvents) - Industry Forecast 2024-2031

Report ID: SQMIG15E2348 | Region: Global | Published Date: February, 2024
Pages: 272 | Tables: 71 | Figures: 75

Global Mixed Xylene Market Competitive Landscape

Mixed Xylene Market Top Player's Company Profiles

Royal Dutch Shell Plc
China Petrochemical Corporation (Sinopec Group)
ExxonMobil Corporation
BP plc
Chevron Corporation
Reliance Industries Limited
Total S.A.
LyondellBasell Industries Holdings B.V.
Phillips 66 Company
SK Innovation Co., Ltd.
Indian Oil Corporation Limited
LOTTE Chemical CORPORATION
Idemitsu Kosan Co., Ltd.
GS Caltex Corporation
Flint Hills Resources
Formosa Chemicals & Fibre Corporation
PTT Global Chemical Public Company Limited
CNOOC and Shell Petrochemicals Company Limited (CSPC)
PT Pertamina (Persero)
BASF SE

Mixed Xylene Market Recent Development

In January 2021, INEOS paid US$ 5 billion for BP's global aromatics and acetyls division, allowing the company to expand its product offering.
In April 2021, Indian Oil Corporation Limited (IOCL) granted Tecnimont Private Limited an EPCC contract for US$ 450 million to build an integrated paraxylene (PX) and purified terephthalic acid (PTA) facility in Paradip, Odisha. It will be linked to the company's refinery at Jagatsinghpur, Odisha. By 2024, the petrochemicals complex will be operational, with an annual capacity of 800 kilotons of PX, the feedstock for the production of PTA.

Global Mixed Xylene Market Report Snapshots

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Mixed Xylene Market size was valued at USD 42 million in 2019 and is poised to grow from USD 44.6 million in 2023 to USD 76.5 million by 2031, growing at a CAGR of 6.18% in the forecast period (2024-2031).

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. 'Royal Dutch Shell Plc', 'China Petrochemical Corporation (Sinopec Group)', 'ExxonMobil Corporation', 'BP plc', 'Chevron Corporation', 'Reliance Industries Limited', 'Total S.A.', 'LyondellBasell Industries Holdings B.V.', 'Phillips 66 Company', 'SK Innovation Co., Ltd.', 'Indian Oil Corporation Limited', 'LOTTE Chemical CORPORATION', 'Idemitsu Kosan Co., Ltd.', 'GS Caltex Corporation', 'Flint Hills Resources', 'Formosa Chemicals & Fibre Corporation', 'PTT Global Chemical Public Company Limited', 'CNOOC and Shell Petrochemicals Company Limited (CSPC)', 'PT Pertamina (Persero)', 'BASF SE'

During the projection period, demand for ortho-xylene is likely to be driven by the construction industry's growth and the automobile industry's development. In addition, demand for ortho-xylene is expected to rise in the coming years as the paints and adhesives industry expands.

Because of its characteristics and chemical structure, it is excellent in dissolving substances that do not dissolve well in water. Xylene is a volatile substance that easily evaporates. As a result, it's commonly used in situations where a producer has to dissolve a substance while also evaporating the solvent

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.

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Global Mixed Xylene Market Size, Share, Growth Analysis, By End-User(Automotive, Building & Construction), By Application(Fuel blending, Solvents) - Industry Forecast 2024-2031

Global Mixed Xylene Market Competitive Landscape

Global Mixed Xylene Market Report Snapshots

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