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 & Coatings, Construction, Marine, Electrical & Electronics, Aerospace & Defense, Agrochemical, Others), And By Geography - Forecasts From 2023 To 2028

  • Published : May 2023
  • Report Code : KSI061615307
  • Pages : 140

The ortho-xylene market is a highly dynamic and rapidly growing sector, driven by a variety of 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 and is primarily used as a precursor in the production of 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 the quality of their products and to develop new applications for ortho-xylene. In addition, the market is characterized by fluctuating prices, which are influenced by factors such as supply and demand, raw material availability, and geopolitical issues.

Overall, the ortho-xylene market is expected to witness significant growth over the forecast period, driven by the increasing demand for phthalic anhydride and other products derived from ortho-xylene. However, the market is also subject to several challenges, including volatility in raw material prices, stringent government regulations, and increasing competition from alternative products.

The ortho-xylene market is driven by the growing shift towards sustainable manufacturing and increasing demand for ortho-xylene in the production of herbicides and fragrances.

Shift towards sustainable manufacturing- The increasing focus on sustainable manufacturing practices is expected to drive the demand for bio-based ortho-xylene. Companies are seeking to reduce their carbon footprint and transition towards more sustainable manufacturing processes. This is expected to increase the demand for bio-based ortho-xylene, which has a lower environmental impact compared to conventional ortho-xylene.

Increasing demand for ortho-xylene in the production of herbicides and fragrances- Ortho-xylene is used as a precursor in the production of herbicides such as 2, 4-D, and MCPA. The increasing demand for herbicides in agriculture is expected to drive the growth of the ortho-xylene market. As the global population continues to grow, there is a growing need to increase agricultural productivity, which is driving the demand for herbicides. Ortho-xylene is also used in the production of fragrances, which are used in a variety of products such as perfumes, soaps, and cosmetics. The expanding requirement for scents is anticipated to propel the expansion of the ortho-xylene market. As consumer spending on personal care and beauty products increases, the demand for fragrances is expected to grow.

Key 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$42 million). The company produces Ortho-xylene as a feedstock for the production of Phthalic Anhydride, which is used in the manufacture of various end-products such as paints, polyvinyl chloride, and unsaturated polyester resins. The expansion is expected to meet the growing demand for Phthalic Anhydride in India due to government focuses on infrastructure spending and demand growth in downstream products like paints, plasticizers, polyvinyl chloride, and unsaturated polyester resins, all of which require Ortho-xylene as a feedstock.
  • In June 2021, Thirumalai Chemicals commissioned a Phthalic Anhydride plant at Dahej in Gujarat, with a capacity of 24,000 tpa. The total investment towards the project is INR 135 crores (approximately US$ 16 million) and the plant was expected to largely cater to customers in Western India. The mode of financing was internal accruals and bank borrowings. With this commission, the company started initial work to add significant additional capacity and more products at the site. Phthalic anhydride, the product produced by Thirumalai Chemicals' new plant in Gujarat, is a key raw material for the production of various plasticizers, which are widely used in the manufacturing of PVC products.  Additionally, as a byproduct of the Phthalic Anhydride production process, production of ortho-xylene by Thirumalai Chemicals also increased, to further support the demand for the chemical in the market.

Based on the end-user industry, the ortho-xylene market is expected to witness positive growth in the automotive segment.

The automotive industry is one of the major end-users of ortho-xylene due to its high demand in the production of polyethylene terephthalate (PET) resins. PET resins are extensively used in the manufacturing of 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 accounted 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 manufacturing facilities in the region, 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.

Key Market Segments

  • By Application
    • Lube Oil Additives
    • Phthalic Anhydride
    • Soybean Herbicides
    • Bactericides
    • Others
  • By End-User Industry
    • Automotive
    • Paints & Coatings
    • Construction
    • Marine
    • Electrical & Electronics
    • Aerospace & Defense
    • Agrochemical
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East And Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Others

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

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force 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

5. ORTHO-XYLENE MARKET ANALYSIS, BY APPLICATION

5.1. Introduction

5.2. Lube Oil Additives 

5.3. Phthalic Anhydride

5.4. Soybean Herbicides

5.5. Bactericides

5.6. Others

6. ORTHO-XYLENE MARKET ANALYSIS, BY END-USER INDUSTRY

6.1. Introduction

6.2. Automotive

6.3. Paints & Coatings

6.4. Construction

6.5. Marine

6.6. Electrical & Electronics

6.7. Aerospace & Defense

6.8. Agrochemical

6.9. Others

7. ORTHO-XYLENE MARKET, BY GEOGRAPHY

7.1. Introduction 

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. France

7.4.3. United Kingdom

7.4.4. Spain

7.4.5. Others

7.5. Middle East And Africa

7.5.1. Saudi Arabia

7.5.2. UAE

7.5.3. Israel

7.5.4. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. India

7.6.4. South Korea

7.6.5. Indonesia

7.6.6. Thailand

7.6.7. Taiwan

7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES

9.1. Merck KGaA

9.2. Pon Pure Chemicals Group

9.3. Mitsubishi Gas Chemical Company

9.4. Indian Petrochem

9.5. Honeywell International Inc

9.6. TCI Chemicals

9.7. Reliance Industries Limited

9.8. China Petroleum & Chemical Corporation

9.9. Exxon Mobil Corporation


Merck KGaA

Pon Pure Chemicals Group

Mitsubishi Gas Chemical Company

Indian Petrochem

Honeywell International Inc

TCI Chemicals

Reliance Industries Limited

China Petroleum & Chemical Corporation

Exxon Mobil Corporation