The global para xylene market is expected to grow at USD 81.02 billion by 2022 growing with the CAGR of 12.05% from 2016 to 2022.
The production of paraxylene process includes the conversion of naphtha into BTX that is a mixture of xylene, benzene, and toluene and the separation of PX by the fractional crystallization process. PX is an important petrochemical as its end-product polyester that is used for different industrial purposes.
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Para-Xylene Market- Competitive Landscape
The global Para-Xylene Market is a highly lucrative market driven by flourishing growth in packaging and petrochemical industry, along with the propelling textile industry. Exxon Mobil Corporation, the Dow Chemicals Company, Royal Dutch Shell plc. and BASF SE, China national Petroleum Corporation among others are some of the major players operating in this market. Most of these market participants are adopting the expansion and product launch tactics to strengthen their production capacities and market position. Taking account of these trends the global Para-Xylene Market is projected to witness considerable competition over the forecast period of 2017-2023.
The report covers brief analysis of geographical region such as:
- Rest of Europe
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Market Research Analysis:
As per the Indian Chemical Industry Five Year Plan 2012-2017, the production of Para xylene is expected to reach 5.5 million tons in 2016 whereas the consumption rate is anticipated to stand at USD 4.9 million tons in 2016.
The global paraxylene market report presents the segmentation of the global market on the basis of applications and end-use. Based on applications, the global paraxylene market can be split into:
- Textile industry
- Plastic industry
Mammoet has inked a deal with L&T for supporting heavy lifting activities. The involved parties including the Government of Oman owned Oman Oil Company and Sohar Refinery to work on the removal of the residue fluid catalytic cracking reactors. The deal also covers installation of reactors and other associated components as outlined in the contract.
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