Paraxylene Market To 2022- Industry Trends, Forecast: Grand View Research, Inc.
Grand View Research.com has announced the addition of "Paraxylene Market Analysis and Segment Forecasts To 2022" Market Research report to their Database.
The global paraxylene (PX) market is expected to reach USD 66.93 billion by 2022, according to a new report by Grand View Research, Inc. Increasing polyester resin and fiber demand from various end-use industries is expected to drive global paraxylene market over the forecast period.
Increasing demand for purified terephthalic acid (PTA) in polyester production particularly in Asia Pacific has triggered paraxylene demand in the recent past and this trend is likely to continue over the next seven years. Higher conversion efficiency along with lower polyester production cost for PTA over DMT has increased PTA demand exponentially over past few years.
Oversupply of PET in past few years has now forced PTA manufacturers to lower the capacity utilization rate in the recent past. PTA production capacity has expanded faster than the demand, affecting the global utilization rate. Sudden decrease in Chinese PTA import on account of increased in-house production has drastically affected PTA manufacturers located in Asia Pacific.
Increasing consumer awareness regarding non-disposable nature of petrochemical products and increasing demand for bio-based substitutes is expected to remain key challenges for market participants. Anti-PX movement in China initiated to increase societal awareness regarding pollution caused by PX production facilities is expected to inhibit the market growth over the forecast period. Huge difference between planned capacity additions and actual PX demand over the period is expected to drastically lower down the global operating rates over the forecast period, reducing profit margins for manufacturers.
Browse full research report on Global Paraxylene Market: http://www.grandviewresearch.com/industry-analysis/paraxylene-market
Further key findings from the report suggest:
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Grand View Research has segmented the global paraxylene market on the basis of application and region:
Paraxylene Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
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