The market is expected to generate an incremental $ opportunity of US$ 14,958.9 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00252 Format: PDF Pages: 300
Mixed Xylene Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Mixed Xylene Market was worth US$ 26,340.9 Mn and is expected to grow at a CAGR of 4.6% over the forecast period. The market is expected to hit US$ 41,299.8 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 3.9%, the market underwent significant growth.
The market is expanding owing to the growing demand from the rise of the mixed xylene market can be attributed to plastics and polymers, paints and coatings, adhesives, and other end-user industries. Furthermore, with emerging applications, the demand for mixed Xylene by the rubber manufacturing sector is increasing, fueling the market’s growth pace. Another element driving growth in the composite xylene market value is the rise of the paints and coatings sector and other end-user verticals.
THE GROWTH IN THE AUTOMOBILE SECTOR FUELS THE MARKET
Xylene is a volatile chemical that evaporates rapidly and is commonly used to dissolve substances while evaporating the solvent. The automobile sector uses high-octane gasoline oil to improve the efficiency of cars. Therefore, mixed Xylene is added to increase octane numbers for this purpose. Technical advances in the production of bio-based mixed Xylene for adhesives, paints, and coatings are projected to provide profitable prospects for market players.
HARMFUL EFFECT ON HEALTH AND ENVIRONMENT RESTRAINS THE GROWTH
If consumed more than a certain amount, mixed Xylene is harmful to human health and even fatal. Depending on the medium’s makeup, it is toxic if swallowed or inhaled. It may cause eye irritation due to an allergic reaction and skin and respiratory system irritation.
In the upcoming years, it is also anticipated that the growth of the demand for mixed Xylene will be somewhat constrained by environmental worries about the use of plastic and strict government regulations for chemical products.
GROWING DEMAND FOR RUBBER INDUSTRY CREATES MORE OPPORTUNITIES
Demand for mixed Xylene in the rubber manufacturing industry is growing, fueling the market growth. Rising industrialization and increasing research and development expenditures will benefit its growth rate. In addition to the above facts, another factor promoting growth in the composite xylene market’s value is the rise of the paints and coatings sector and other end-user verticals.
Enhanced manufacture of polyethylene terephthalate (PET) plastic bottles by industrial verticals and increased use of blended Xylene in bio-based applications such as textiles will increase consumption opportunities for mixed Xylene.
Market Segments Covered in Report
By End Use:
By Region and Country:
Why is Isomer grade Mixed Xylene projected to have the highest market share?
Isomer grade mixed xylene accounts for more than 70.0% of the global mixed xylene market share and is projected to have a strong position through the forecast period. Compared with most industrial applications, Isomer grade mixed Xylene is expected to maintain its dominant position in the global mixed xylene market. Its wide usage as a solvent and high volatility makes it one of the most important products in the paint & coatings industry.
Why is it predicted that the paints and coatings industry would grow the quickest throughout the projected period?
Increasing demand for mixed Xylene is expected to be a notable trend over the forecast period. Mixed Xylene is utilized as a fuel blender to increase overall efficiency for better performance and improve the octane number of fuel. Increasing expenditure on research and development of bio-based fuels. And the increasing use of mixed Xylene as a solvent in industries such as paints, coatings, adhesives, sealants, etc., is expected to drive growth within the hybrid xylene market over the forecast period.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
To remain competitive in the industry, key market players are investing in expanding their market footprint. Key players invest in mergers and acquisitions, new product development, and expansions. Key players are investing significantly to apply the borohydride compound in various emerging fields to bolster their revenue growth.
Some of the key developments that have taken place in the Mixed Xylene Market include:
A list of some of the key suppliers present in the market are:
Global Mixed Xylene Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Grade, Application, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|