Global Ortho-Xylene Market Forecast to 2024: Royal Dutch Shell, Reliance Industries, China Petroleum & Chemical Corp, and ExxonMobil Corp are the Key Players - ResearchAndMarkets.com
The "Ortho-Xylene
Market - Growth, Trends, and Forecast (2019 - 2024)" report has
been added to ResearchAndMarkets.com's offering.
The global ortho-xylene market is expected to record a CAGR of more than
4.2% during the forecast period of 2019-2024.
The major factors driving the market studied are the increasing demand
for ortho-xylene as an intermediate for PVC production, and extensive
usage of ortho-xylene in paints and adhesive production.
Key Highlights
-
Detrimental neurological effects of ortho-xylene and usage of
naphthalene for the production of phthalic anhydride (PA) are expected
to hinder the growth of the market studied.
-
Asia-Pacific dominated the market across the world, with the largest
consumption from countries, such as China and India.
Key Market Trends
Phthalic Anhydride (PA) to Dominate the Market
-
Phthalic anhydride is industrially an important raw material for the
production of anthraquinone; is also used in the manufacture of many
vat dyes and in alizarin and alizarin derivatives. It is used directly
for the fluorescein, eosin, and rhodamine dyes.
-
Several esters are made from phthalic anhydride and are largely used
in the plastic industry as plasticizers. It is also used to
manufacture alkyd resins, the glyptal and rezyl resins, dioctyl
phthalate and the poly-vinyl resins.
-
The ever-increasing demand for phthalic anhydride has stimulated a
search for alternative raw materials. Ortho-xylene that is available
in abundant quantities from the petroleum refineries appears to be the
most suitable.
-
As a raw material for the production of phthalic anhydride, o-xylene
has several advantages. The oxidation of o-xylene permits a simpler
feed system than that of the oxidation of naphthalene because of the
liquid state of o-xylene.
-
The theoretical amount of air required for oxidizing o-xylene is only
two-thirds of that required for the oxidation of naphthalene. The heat
emitted off during the reaction is 121 kcal less than that of
naphthalene. The product is of higher purity and the theoretical yield
percentage is higher than that of naphthalene. Furthermore, as
o-xylene is a liquid at ordinary temperature, its use permits a
simpler feed system.
-
Thus, with the increasing demand for phthalic anhydrade, the
consumption of o-xylene is likely to increase during the forecast
period.
Asia-Pacific to Dominate the Global Market
-
In Asia-Pacific region, China is the largest economy in terms of GDP.
The country's annual growth of GDP was 6.8% in 2017. However, economic
growth slowed down marginally and increased by 6.6% in 2018.
-
The major proportion of ortho-xylene is in the manufacturing of
phthalic anhydride that is used in the production of phthalate-based
PVC plasticizers. China is the single largest market for plasticizers
with more than 40% of global consumption. Some of the manufacturers of
PVC in the country are Shin-Etsu Chemical Co. Limited, Xinjiang
Zhongtai Chemical Co. Ltd, Lubrizol, Hanwha Chemical, Formosa
Plastics, etc.
-
PVC is widely used in the automotive industry. PVC's thermoplastic
properties have lesser weight compared to metals. It has a lower cost
of manufacturing methods compared to the cost of other methods. It is
an ideal choice for exterior and automotive interior parts. PVC is
favored for exterior parts, owing to its light weight, durability,
easily shapeable quality, and attractive appearance.
-
The overall cost of a component can be brought down to 20-60% by using
PVC in place of alternative materials. Some of the automotive
components made with PVC include instrument panels, floor coverings,
mud flaps, seals, sun visors, and anti-stone damage protection.
-
China is by far the largest automotive manufacturer in the world since
2009, with the current share of production of about 29.06%. In 2017,
the Chinese automotive industry recorded a growth of 3.19% and reached
a total of 29,015,434 units. However, the production decreased by 4.2%
in 2018, owing to the decrease in domestic demand and penetration of
automotive manufacturers to other countries. The decline is expected
to be temporary, as the demand is still increasing.
-
Therefore from the above-mentioned points, the high consumption of
phthalic anhydride can be witnessed, which leads to an increase in
demand for ortho-xylene in the forecast period.
Competitive Landscape
The global ortho-xylene market is fragmented in nature. The major
companies include Royal Dutch Shell, Reliance Industries Limited., China
Petroleum & Chemical Corporation, and ExxonMobil Corporation, among
others.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand as an Intermediate for PVC Production
4.1.2 Extensive Usage of Ortho-Xylene in Paints & Adhesive Industries
4.2 Restraints
4.2.1 Detrimental Neurological Effects of Ortho-xylene
4.2.2 Usage of Naphthalene for the Production of Phthalic Anhydride (PA)
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Phthalic Anhydride
5.1.2 Bactericides
5.1.3 Soybean Herbicides
5.1.4 Lube Oil Additives
5.1.5 Other Applications
5.2 Geography
5.2.1 Asia-Pacific
5.2.2 North America
5.2.3 Europe
5.2.4 South America
5.2.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 China Petroleum & Chemical Corporation
6.4.2 ExxonMobil Corporation
6.4.3 Flint Hills Resources
6.4.4 Formosa Chemicals & Fibre Corporation
6.4.5 KP Chemical Corp.
6.4.6 Nouri Petrochemical Company
6.4.7 Reliance industries Ltd.
6.4.8 Royal Dutch Shell
6.4.9 SK Global Chemical Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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