Paraxylene is an aromatic hydrocarbon having the chemical formulae C6H4 (CH3)2. It is based on benzene with two methyl substitute. It is a colorless and flammable liquid which is insoluble in water. It is also known as 1,4-dimethylbenzene, p-methylbenzene1,4-xylene, p-xylol, 4-methyltoluene and more. It is produced by catalytic reforming of petroleum naphtha. In some industries, it is also manufactured by crystallization and adsorption process. It is transported through vessel or tank cars.
The global paraxylene market is witnessing significant growth due to increasing demand of high end domestic & household products and personalized apparel. Globally, polyester fibers was the largest segment by application of paraxylene in 2015, followed by the packaging. The increasing buying power, along with improvement in quality of living is significantly fuelling the demand for personal and household paraxylene based products. The increasing demand for polyester fibers and packaging is anticipated to have positive impact on the growth of the paraxylene market. Moreover, the films for x-rays, magnetic tapes, photographic film and electrical insulation, carbonated and non-carbonated beverage containers is further propelling the demand for paraxylene
The growing consciousness towards increasing use of bio-based paraxylene in bio plastics PET bottles (Bio-PET) and other bio plastic applications, such as catering utensils, is expected to drive the growth of paraxylene market. Among the various applications, the PTA segment held the largest share in the global paraxylene market in 2015 and is expected to continue holding the largest share during the forecast period. The growth in PTA application is due to its non-breakage and good carbon dioxide barrier properties. PTA is light-weight, shatter-resistant and cost efficient and has high tensile strength.
Furthermore, the increased focus of governments on recycling and renewable mainly bio-based), is encouraging the companies towards new techniques and new product development, thus improving the growth of the global paraxylene market.
Some of the major players operating in the global paraxylene market include Exxon Mobil, BASF SE, Chevron Phillips, Toray Industries, Reliance Industries, JX Nippon Oil & Energy Corp., British Petroleum, Saudi Aramco,, Petro China, Sinopec and Dragon Aromatics.
