Global Mixed Xylene Market to Grow at a CAGR of 6.8% by 2030 | ChemAnalyst

According to ChemAnalyst report, “Global Mixed Xylene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Mixed Xylene market has shown significant growth in historic period and is anticipated to achieve an impressive CAGR of 6.8% during the forecast period. As the demand of Mixed Xylene is rapidly increasing in various industries including leather, paints & coatings, pesticides, chemical and others, the manufacturers and consumers are rooting for eco-friendly, sustainable, financial and emerging technologies for the production of Mixed Xylene. The sustainable production of Mixed Xylenes is highly associated with safety standards that in further enhances the compliance standards.

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The Mixed Xylene is an equilibrium mixture of four Isomers that contains the identical  chemical formula C8H10 in the order of meta-xylene, ortho-xylene, para-xylene, and ethylbenzene. These isomers are usually produced together by pyrolysis and catalytic reforming methods. Mixed Xylenes are flammable, colorless and slightly greasy in nature. They are produced by various methods however petroleum is one of the major sources. Among these isomers, para-Xylene is the most widely used for the production of  Polyethylene Terephthalate  (PET) , Purified Terephthalic Acid (PTA), solid state resins, PET films and others. Mixed Xylenes are considered as an important Aromatic product as they can be a perfect replacement of toluene where falling drying rate is required. As MX contains high octane number and low vapor pressure, It is a great compound for blending with gasoline and producing solvents for paints and pesticides.

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Mixed Xylenes have numerous agricultural and Industrial applications as they are extensively used in the manufacturing of adhesives, paints & coatings, leather, agricultural sprays (like pesticides), surface coatings, gasoline blends and others. Approximately 55-65% of Mixed Xylene is consumed by paint and coating industries. They are used in bulk amounts to produce leather chemicals like allied and topcoat. In leather chemical industry, The maximum amount of Mixed Xylene as a solvent is used in Topcoat division as compared to other divisions because it provides excellent fastness and better shelf life to the product by decreasing the rate of drying. They are considered as a favorite solvent in pesticides due to their more uniform drying and high spraying efficiency. The pesticide industry is likely to bolster the Mixed Xylene market due to its high demand in Asia Pacific. As a key feedstock chemical used for the isolation of isomers, they are highly demanded by the Petroleum industry serving as a gasoline blend. Increasing demand of paraxylene to produce PET bottles by Resistance Temperature Detector (RTD) beverage manufacturers is expected to boost the demand of Polyester resins which will further augment the Mixed Xylene market worldwide in the upcoming years. Moreover, surging demand of Mixed Xylene as a solvent in various manufacturing industries is propelling the overall demand of Mixed Xylene in the international market.

In 2020, due to the onset of COVID-19, PET and coating industries had a huge impact due to the lockdown. During the global crises, due to government restrictions and nationwide lockdowns, many companies halted their operations which hindered the production and global supply chain of Polyester fibres and resins which further affected the Mixed Xylene demand. Decreased sales and distribution impacted the demand of Mixed Xylene early in 2020 however as the lockdown and restrictions are uplifting, the Mixed Xylene market is expected to bolster.

Region wise, APAC region holds the largest share of Mixed Xylene market worldwide due to an increase in the demand of Polyester fibres (floor covering, fabrics) and polyester resins (beverages containers) which will boost the polyester industry. China serves as a leading manufacturer of Mixed Xylene, followed by US and Saudi Arabia. The top producers & exporters of Mixed Xylene in the APAC region are China and Iran.

According to ChemAnalyst report, Global Mixed Xylene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in global Mixed Xylene market include Exxon Mobil Corporation, S.K. Global Chemical, Total S.A, Royal Dutch Shell Plc., Idemitsu Kosan Corp. Limited , Taiyo Oil Company Limited., BP Plc., Lotte Chemical Corporation, Marathon Petroleum corporation, Mangalore Refinery & Petrochemicals Limited and Others.

“Being linked to the downstream applications in Leather, adhesives, paint and coatings and others, the global Mixed Xylene Industry has shown an impressive growth along with increasing macro-economic factors and changing in the consumer preference. It is projected that India is going to become the world's fifth largest consumer market during the forecast period. In addition, growing per capita income in emerging countries poised a stronger outlook to the country’s Mixed Xylene demand. The governments restrictions and nationwide lockdowns due to the global crises affected the global supply chain logistics and caused immediate shortage of feedstocks hence increased the prices of Mixed Xylene Meanwhile,  China serves as the key growth region as well with sufficiently installed capacities and emerging technologies. With new competitors emerging across the Asian Mixed Xylene market, it is crucially important to keep a focus on which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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