Global m-xylene market is projected to reach $758.0 million by 2023. The market growth is primarily driven by the rising demand for adhesives and sealants and the increasing consumption of isophthalic acid in various end-use industries. Some other chemical names of m-xylene are 1,3-dimethylbenzene, 1,3-xylene, m-xylol, and m-dimethylbenzene.
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Based on application, the m-xylene market has been categorized into isophthalic acid production; 2,4-xylidine and 2,6-xylidine production; solvent; and others. The “others” category includes the use of m-xylol in 2,4-dimethylbenzophenone production, in chemical syntheses, and as an intermediate in dyes and resins. Isophthalic acid production was the largest application area of m-xylol in the market during the historical period.
Emerging economies, such as China, India, Brazil, Indonesia, and South Africa, will continue offering huge growth opportunities to the players operating in the m-xylene market.
APAC is the largest market for m-xylene and contributed more than 70.0% revenue to the global market in 2017. The market growth in the region is mainly driven by the large-scale production of polyethylene terephthalate (PET) plastic, increase in the production capacity of m-xylene by key players, and growing consumption of carbonated soft drinks and alcoholic beverages.
Over the years, these countries have witnessed rapid economic growth fueled by the growth in their automotive and packaging industries.
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Some of the major players operating in the global m-xylene market are Mitsubishi Gas Chemical Company Inc., Lotte Chemical Corporation, CEPSA, and Formosa Chemicals & Fibre Corporation.
GLOBAL M-XYLENE MARKET SEGMENTATION
- Isophthalic Acid Production
- 2,4-Xylidine and 2,6-Xylidine Production
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- South Korea
- Rest of APAC
- Rest of the World (RoW)
- Saudi Arabia
- South Africa
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