Research and Markets: Global Paraxylene (PX) Market 2014-2018 with BP, ExxonMobil, JX Nippon Oil & Energy, PetroChina, Reliance Industries & Sinopec Dominating
Paraxylene (PX), an aromatic hydrocarbon, is the basic raw material for the commercial production of Purified Terephthalic Acid (PTA) and Dimethyl Terephthalate (DMT), which are further used to produce polyester. The basic raw material for producing PX is naphtha. The PX production process includes the conversion of naphtha into BTX, a mixture of benzene, xylene, and toluene, and the separation of PX by fractional crystallization. PX is an important petrochemical as its end-product polyester is used for various industrial purposes, including textile manufacturing and packaging. It also finds usage as a solvent, along with being the raw material to manufacture Di-PX and herbicides.
According to the report, an increase in the demand for polyester fibers is one of the major drivers in the market. Polyester fibers, one of the major end-products of PX, are used extensively in the Textile and Packaging sectors. The Global PX market is expected to experience moderate growth as a result of the growth of the Global Polyester Fiber market.
Further, the report states that a fall in the global demand for DMT by the manufacturers of PET and other polyesters in recent years, owing to the increasing commercial use of PTA, is the major challenge faced by the players in the Global PX market. This has resulted in market cannibalization and caused difficulty for PX producers to maintain profitability.
The Global PX market can be divided on the basis of application into the following segments:
• Other Applications:
• BP • ExxonMobil
• JX Nippon Oil & Energy
• Reliance Industries
- Business Wire
- Published on:
- November 19, 2014
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