Key Players in the Asia-Pacific Xylene Market are Exxon Mobil Corp, Reliance Industries Limited, Formosa Plastics Group, and JX Nippon Oil & Energy Corporation
(PRWEB) November 08, 2014
The Asia-Pacific Xylene Market report defines and segments the concerned market in Asia-Pacific with analysis and forecast of revenue. This market is estimated to grow to a value of $84,879.7 million by 2018 at a CAGR of 11.4% from 2013 to 2018.
Browse through the TOC of the Asia-Pacific Xylene Market report to get an idea of the in-depth analysis provided. It also provides a glimpse of the segmentation in the market, and is supported by various tables and figures.
Xylene is an aromatic hydrocarbon widely used in industrial and medical technology as a solvent. It is a colorless, sweet-smelling liquid or gas occurring naturally in petroleum, coal, and wood tar. It is a mixture of three different isomers, i.e., meta-xylene, ortho-xylene, and para-xylene. These are major petrochemicals produced by catalytic reforming and also by coal carbonisation in the manufacture of coke fuel. The global demand for xylene has been growing sharply over the last decade. Much of the increase in demand for xylene comes from the Asia-Pacific region, and the same trend is expected to continue in the near future.
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Polymers are the building blocks of synthetic fibers or polyester. Polymers used for synthetic fibers are produced from intermediates (which in turn have been produced from crude oil) and by applying a catalyst. Key intermediates are p-Xylene (made from xylene), teraphthalic acid, ethylene glycol and acrylonitrile; catalysts – manganese, cobalt and antimony oxide – are used to control the processes. According to the Textile World magazine, the world of polyester production has begun to be like a monopoly, led by China. The speed with which Asia has dominated fiber production is astounding. The Asia-Pacific region is emerging as the textile industry hub of the world. The advantage of low cost because of cheap labor is aiding the growth of the textile industry in this region. There has been a continuous shift in the manufacturing industry from developed regions of the world such as North America and Western Europe, to take advantage of the low-cost facilities available in Asia-Pacific.
The Asia-Pacific xylene market is driven by the severe shortage of cotton production in the region and high demand for synthetic fibers in China. This will enable the xylene market will continue to grow in the future. As a result of several new paraxylene production plants in Asia, purified terephthalic acid and paraxylene rates will decrease, which will further increase the demand for xylene globally.
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The report covers the Asia-Pacific xylene market which is segmented on the basis of sub markets, application and geography. Major applications include dimethyl terephthalate (DMT), isophthalic acid, phthalic anhydride, solvents, and terephthalic acid.
Related Reports :
North America Xylenes Market
The market for xylene and its derivative in North America is estimated to at a considerable rate in the near future. The report estimates the size of the xylene market in terms of both volume and value. The North American xylenes market report provides a comprehensive review of the key market drivers, challenges, and issues. The market was valued at 6,277.23 million in 2012, and is projected to reach $7,997.74 million by 2018. It is projected to grow at a CAGR of 9.0%, from 2013. Rapidly growing end-user industry demand in this region drives the growth of the North America xylenes market.
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