Ortho-Xylene Market Size, Share, Opportunities, And Trends By Application (Lube Oil Additives, Phthalic Anhydride, Soybean Herbicides, Bactericides, Others), By End-User Industry (Automotive, Paints And Coatings, Building And Construction, Marine, Electrical & Electronics, Aerospace & Defense, Agriculture, Others), And By Geography - Forecasts From 2024 To 2029
- Published : Feb 2024
- Report Code : KSI061615307
- Pages : 135
The ortho-xylene market is evaluated at US$5.278 billion for the year 2022 and is projected to grow at a CAGR of 3.79% to reach a market size of US$6.848 billion by the year 2029.
Ortho-xylene is a colorless, fragrant liquid chemical compound that is also referred to as 1,2-dimethylbenzene. It is one of the three dimethyl-substituted benzene derivatives known as isomers of xylene. Meta-xylene (1,3-dimethylbenzene) and para-xylene (1,4-dimethylbenzene) are the other two isomers.
The main application for ortho-xylene is as a precursor for phthalic anhydride, which is needed to make phthalate plasticizers. In addition, it is used as a solvent in the paint and coatings sector and the synthesis of other compounds and medications. Ortho-xylene, like other isomers of xylene, can irritate the eyes, skin, and respiratory system and be dangerous if breathed or consumed in high quantities. In industrial and laboratory settings, it is crucial to handle ortho-xylene with the appropriate safety procedures.
MARKET TRENDS:
The ortho-xylene market is a highly dynamic and rapidly growing sector, driven by various factors, including increasing demand from end-use industries such as pharmaceuticals, chemicals, and plastics. Ortho-xylene is a colorless, flammable liquid with a sweet odor. It is primarily used as a precursor in producing phthalic anhydride, which is used to produce plasticizers, alkyd resins, and polyester resins. The high demand for these products in various industrial applications is expected to drive the growth of the ortho-xylene market over the forecast period.
The ortho-xylene market is highly competitive, with several major players operating in the industry. These players are constantly engaged in research and development activities to improve their products' quality and develop new ortho-xylene applications. However, the market is hampered by fluctuating prices, which are influenced by factors such as supply and demand, raw material availability, and geopolitical issues.
MARKET DRIVERS:
- An increasing focus on sustainable manufacturing is anticipated to propel the ortho-xylene market.
It is expected that the market for ortho-xylene will undergo major changes due to the growing focus on sustainable manufacturing techniques. As a result of growing awareness of the need to lessen their influence on the environment, industries are looking into more environmentally friendly options. This change entails taking steps like embracing the idea of a circular economy, investigating bio-based industrial techniques, and using green chemistry concepts.
As a result of these advancements, producers of ortho-xylene are anticipated to rethink their operations to better meet sustainability targets, which might result in the creation of more environmentally friendly manufacturing methods and goods. With sustainability remaining a top priority for many sectors, the ortho-xylene market is well-positioned to change to meet these shifting needs.
- Increasing demand for these products in herbicides and fragrances manufacturing might impact market growth.
The growing need for ortho-xylene in the fragrance and herbicide industries is anticipated to fuel the market. A precursor used to make herbicides like 2, 4-D, and MCPA is ortho-xylene. The ortho-xylene market is anticipated to expand due to the growing need for herbicides in agriculture. Herbicide demand is rising as a result of the increased need to boost agricultural production due to the world's expanding population. Fragrances, which are utilized in a variety of goods including perfumes, soaps, and cosmetics, are also made from ortho-xylene.
It is projected that the growing demand for fragrances will fuel the growth of the ortho-xylene market. Fragrances are predicted to become more and more in demand as consumer expenditure on beauty and personal care goods rises.
MARKET RESTRAINTS:
The ortho-xylene market is constrained by several factors. First of all, manufacturers have a great deal of difficulty due to strict environmental requirements. They need to invest in compliance measures to reduce emissions and guarantee the safe disposal of trash. This raises operating expenses in addition to necessitating constant observation and regulatory adaption. Second, the price of feedstock, especially those sourced from petroleum, might fluctuate, which affects the market. Producers of ortho-xylene may see a disruption in their profit margins if feedstock costs suddenly rise.
The market's intense competitiveness further compounds the complexity as businesses fight for market share through innovation and price competition. Additionally, there is always a risk of replacement by different substances or procedures.
The automotive segment is expected to witness robust growth.
The automotive industry is one of the major end-users of ortho-xylene due to its high demand for polyethylene terephthalate (PET) resins. PET resins are extensively used in manufacturing various automotive components, such as engine covers, bumpers, and instrument panels, among others. With the increasing demand for lightweight and fuel-efficient vehicles, the usage of PET resins in the automotive industry is expected to witness significant growth in the coming years, thereby driving the demand for ortho-xylene.
Asia Pacific is predicted to account for a significant share of the global ortho-xylene market.
Based on geography, the ortho-xylene market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The Asia Pacific region is expected to hold major shares of the ortho-xylene market during the projected period. This can be attributed to the increasing demand for ortho-xylene from various end-use industries, such as automotive, construction, paints and coatings, and electrical and electronics, among others. Rapid industrialization and urbanization in countries such as China and India are also driving the growth of the ortho-xylene market in the region. Furthermore, the availability of cheap labor and favorable government policies promoting foreign investment is expected to attract more companies to set up regional manufacturing facilities, further boosting the demand for ortho-xylene. However, factors such as stringent environmental regulations and fluctuating raw material prices may hinder the growth of the ortho-xylene market in the region.
Market Developments:
- In November 2021, I G Petrochemicals Limited, a leading Indian manufacturer of Phthalic Anhydride, a major downstream product made from Ortho-xylene, approved a brownfield expansion project at its existing plant location in Taloja, with a capacity of 53,000 MTPA for Phthalic Anhydride, at an outlay of approximately INR 345 crores (approximately US$42 million). The company produces Ortho-xylene as a feedstock for producing Phthalic Anhydride, which is used to manufacture various end-products such as paints, polyvinyl chloride, and unsaturated polyester resins. The expansion is expected to meet the growing demand for Phthalic Anhydride in India due to government focus on infrastructure spending and demand growth in downstream products like paints, plasticizers, polyvinyl chloride, and unsaturated polyester resins, all of which require Ortho-xylene as a feedstock.
Ortho-Xylene Market Scope:
Report Metric | Details |
Market Size Value in 2022 | US$5.278 billion |
Market Size Value in 2029 | US$6.848 billion |
Growth Rate | CAGR of 3.79% from 2022 to 2029 |
Study Period |
2019 to 2029 |
Historical Data |
2019 to 2022 |
Base Year | 2023 |
Forecast Period | 2024 – 2029 |
Forecast Unit (Value) | USD Billion |
Segments Covered |
|
Companies Covered |
|
Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Customization Scope | Free report customization with purchase |
Segmentation:
- By Application
- Lube Oil Additives
- Phthalic Anhydride
- Soybean Herbicides
- Bactericides
- Others
- By End-User Industry
- Automotive
- Paints and Coatings
- Building and Construction
- Marine
- Electrical & Electronics
- Aerospace & Defense
- Agriculture
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
- North America
Frequently Asked Questions (FAQs)
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
1.8. Key Benefits for the stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
3.2. Analyst View
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. ORTHO-XYLENE MARKET, BY APPLICATION
5.1. Introduction
5.2. Lube Oil Additives
5.2.1. Market Trends and Opportunities
5.2.2. Growth Prospects
5.2.3. Geographic Lucrativeness
5.3. Phthalic Anhydride
5.3.1. Market Trends and Opportunities
5.3.2. Growth Prospects
5.3.3. Geographic Lucrativeness
5.4. Soybean Herbicides
5.4.1. Market Trends and Opportunities
5.4.2. Growth Prospects
5.4.3. Geographic Lucrativeness
5.5. Bactericides
5.5.1. Market Trends and Opportunities
5.5.2. Growth Prospects
5.5.3. Geographic Lucrativeness
5.6. Others
5.6.1. Market Trends and Opportunities
5.6.2. Growth Prospects
5.6.3. Geographic Lucrativeness
6. ORTHO-XYLENE MARKET, BY END-USER INDUSTRY
6.1. Introduction
6.2. Automotive
6.2.1. Market Trends and Opportunities
6.2.2. Growth Prospects
6.2.3. Geographic Lucrativeness
6.3. Paints and Coatings
6.3.1. Market Trends and Opportunities
6.3.2. Growth Prospects
6.3.3. Geographic Lucrativeness
6.4. Building and Construction
6.4.1. Market Trends and Opportunities
6.4.2. Growth Prospects
6.4.3. Geographic Lucrativeness
6.5. Marine
6.5.1. Market Trends and Opportunities
6.5.2. Growth Prospects
6.5.3. Geographic Lucrativeness
6.6. Electrical & Electronics
6.6.1. Market Trends and Opportunities
6.6.2. Growth Prospects
6.6.3. Geographic Lucrativeness
6.7. Aerospace & Defense
6.7.1. Market Trends and Opportunities
6.7.2. Growth Prospects
6.7.3. Geographic Lucrativeness
6.8. Agriculture
6.8.1. Market Trends and Opportunities
6.8.2. Growth Prospects
6.8.3. Geographic Lucrativeness
6.9. Others
6.9.1. Market Trends and Opportunities
6.9.2. Growth Prospects
6.9.3. Geographic Lucrativeness
7. ORTHO-XYLENE MARKET, BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. By Application
7.2.2. By End-User Industry
7.2.3. By Country
7.2.3.1. USA
7.2.3.1.1. Market Trends and Opportunities
7.2.3.1.2. Growth Prospects
7.2.3.2. Canada
7.2.3.2.1. Market Trends and Opportunities
7.2.3.2.2. Growth Prospects
7.2.3.3. Mexico
7.2.3.3.1. Market Trends and Opportunities
7.2.3.3.2. Growth Prospects
7.3. South America
7.3.1. By Application
7.3.2. By End-User Industry
7.3.3. By Country
7.3.3.1. Brazil
7.3.3.1.1. Market Trends and Opportunities
7.3.3.1.2. Growth Prospects
7.3.3.2. Argentina
7.3.3.2.1. Market Trends and Opportunities
7.3.3.2.2. Growth Prospects
7.3.3.3. Others
7.3.3.3.1. Market Trends and Opportunities
7.3.3.3.2. Growth Prospects
7.4. Europe
7.4.1. By Application
7.4.2. By End-User Industry
7.4.3. By Country
7.4.3.1. United Kingdom
7.4.3.1.1. Market Trends and Opportunities
7.4.3.1.2. Growth Prospects
7.4.3.2. Germany
7.4.3.2.1. Market Trends and Opportunities
7.4.3.2.2. Growth Prospects
7.4.3.3. France
7.4.3.3.1. Market Trends and Opportunities
7.4.3.3.2. Growth Prospects
7.4.3.4. Spain
7.4.3.4.1. Market Trends and Opportunities
7.4.3.4.2. Growth Prospects
7.4.3.5. Others
7.4.3.5.1. Market Trends and Opportunities
7.4.3.5.2. Growth Prospects
7.5. Middle East and Africa
7.5.1. By Application
7.5.2. By End-User Industry
7.5.3. By Country
7.5.3.1. Saudi Arabia
7.5.3.1.1. Market Trends and Opportunities
7.5.3.1.2. Growth Prospects
7.5.3.2. UAE
7.5.3.2.1. Market Trends and Opportunities
7.5.3.2.2. Growth Prospects
7.5.3.3. Israel
7.5.3.3.1. Market Trends and Opportunities
7.5.3.3.2. Growth Prospects
7.5.3.4. Others
7.5.3.4.1. Market Trends and Opportunities
7.5.3.4.2. Growth Prospects
7.6. Asia Pacific
7.6.1. By Application
7.6.2. By End-User Industry
7.6.3. By Country
7.6.3.1. China
7.6.3.1.1. Market Trends and Opportunities
7.6.3.1.2. Growth Prospects
7.6.3.2. Japan
7.6.3.2.1. Market Trends and Opportunities
7.6.3.2.2. Growth Prospects
7.6.3.3. India
7.6.3.3.1. Market Trends and Opportunities
7.6.3.3.2. Growth Prospects
7.6.3.4. South Korea
7.6.3.4.1. Market Trends and Opportunities
7.6.3.4.2. Growth Prospects
7.6.3.5. Taiwan
7.6.3.5.1. Market Trends and Opportunities
7.6.3.5.2. Growth Prospects
7.6.3.6. Thailand
7.6.3.6.1. Market Trends and Opportunities
7.6.3.6.2. Growth Prospects
7.6.3.7. Indonesia
7.6.3.7.1. Market Trends and Opportunities
7.6.3.7.2. Growth Prospects
7.6.3.8. Others
7.6.3.8.1. Market Trends and Opportunities
7.6.3.8.2. Growth Prospects
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Market Share Analysis
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Competitive Dashboard
9. COMPANY PROFILES
9.1. Mitsubishi Gas Chemical Company
9.2. Sinopec Yangzi Petrochemical Company Limited
9.3. Exxon Mobil Corporation
9.4. Formosa Chemicals & Fibre Corporation
9.5. FUJIFILM Wako Pure Chemical Co., Ltd
9.6. Arihant Solvents and Chemicals
9.7. Hridaan Pharma Chem
9.8. Honeywell Specialty Chemicals Seelze GmbH
9.9. Tokyo Chemical Industry Co., Ltd
Mitsubishi Gas Chemical Company
Sinopec Yangzi Petrochemical Company Limited
Exxon Mobil Corporation
Formosa Chemicals & Fibre Corporation
FUJIFILM Wako Pure Chemical Co., Ltd
Arihant Solvents and Chemicals
Hridaan Pharma Chem
Honeywell Specialty Chemicals Seelze GmbH
Tokyo Chemical Industry Co., Ltd
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