BTX Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global BTX Chemical Market Revenue & Share and is segmented by type (benzene, toluene, and xylene (ortho, meta, and para)), product by application (benzene by application (ethylbenzene, cyclohexane, alkylbenzene, cumene, nitrobenzene, and other applications), toluene by application (paints and coatings, adhesives and inks, explosives, chemical industry, and other applications), and xylene by application (solvent, monomer, and other applications)), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts in terms of volume (kilotons).

Benzene Toluene Xylene (BTX) Market Size

Single User License
Team License
Corporate License
Book before:
Benzene-Toluene-Xylene (BTX) Market Summary
share button
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 3.50 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Benzene-Toluene-Xylene (BTX) Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Benzene Toluene Xylene (BTX) Market Analysis

The Global Benzene-Toluene-Xylene (BTX) Market is projected to register a CAGR of more than 3.5% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is estimated to have reached pre-pandemic levels and is expected to grow steadily.

  • The growing significance of benzene and toluene in various chemical applications is expected to fuel the market growth during the forecast period.
  • On the flip side, the harmful effects of benzene-toluene-xylene (BTX) are expected to hinder the market's growth.
  • Moreover, the increasing usage of bio-based Benzene-Toluene-Xylene (BTX) is expected to create opportunities for the market in the coming years.
  • The Asia-Pacific region is expected to dominate the market during the forecast period owing to its growing development in major countries such as India, China, and Japan.

Benzene Toluene Xylene (BTX) Market Trends

This section covers the major market trends shaping the Benzene-Toluene-Xylene (BTX) Market according to our research experts:

Ethylbenzene to Dominate the Benzene Application Segments

  • Ethylbenzene is obtained through acid-catalyzed alkylation of benzene with ethylene. Ethylbenzene (EB) is the critical intermediate in the production of styrene, produced by the catalytic dehydrogenation of ethylbenzene, which gives hydrogen and styrene.
  • Ethylbenzene is added to gasoline as an anti-knock agent to reduce engine knocking and increase the octane rating. Ethylbenzene is often found in other manufactured products, including pesticides, cellulose acetate, synthetic rubber, paints, and inks.
  • Styrene is used primarily in polymer production for polystyrene, acrylonitrile-butadiene-styrene (ABS), styrene-acrylonitrile (SAN) resins, styrene-butadiene elastomers, and latexes, and unsaturated polyester resins.
  • The major styrene industry markets include packaging, electrical and electronic appliances, construction, automotive, and consumer products. According to the China Association of Automobile Manufacturing, the production of New Energy Vehicles in the country witnessed a year-on-year increase of 96.9% in December 2022. Hence, impacting the market positively.
  • In the fiscal year 2021, India produced around 12,720 metric tons of isobutyl benzene, representing an increase of 35% compared to 2021.
  • Moreover, India is one of the major chemical industries in the world, producing more than 80,000 chemical products annually.
  • Therefore, all factors above are expected to significantly impact the market's growth during the forecast period.
Benzene-Toluene-Xylene (BTX) Market - Production Volume, Isobutyl benzene, India , (in 1,000 metric tons), 2017-2021

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific dominated the market studied, with the largest share of the total market volume, and is estimated to be the fastest-growing region during the forecast period.
  • In the Asia-Pacific region, the growing significance of benzene and toluene in various chemical applications and the growing usage of xylene as solvents and monomers are driving the growth of the market studied.
  • Xylene is a component of BTX. Xylene's majority share is used as a solvent, followed by monomers (mainly used in plastics and polymers). Its powerful solvent properties are used in printing, rubber, and leather processing.
  • China is the world's largest plastics manufacturer, accounting for approximately one-third of worldwide production. According to the National Bureau of Statistics of China, the country produced 80 million metric tons of plastic products in 2021, an increase of 5.27 % compared to the previous year, which in turn is fueling the market growth.
  • According to IBEF, in India, the total value of plastics exported between April and September 2022 was USD 6.38 billion. Thus benefiting the market positively during the forecast period.
  • Further, the largest export category in India was plastic raw materials, which accounted for 30.7% of all exports in 2021-2022 and increased by 26.5% from the previous year.
  • Owing to all the factors above, the market for BTX in the region is projected to grow significantly during the forecast period.
Benzene-Toluene-Xylene (BTX) Market - Growth Rate by Region, 2023-2028

Benzene Toluene Xylene (BTX) Industry Overview

The global benzene toluene xylene (BTX) market is partially consolidated in nature. Some of the major players in the market include China Petrochemical Corporation, Exxon Mobil Corporation, SABIC, Reliance Industries Limited, and PetroChina Company Limited, among others (in no particular order).

Benzene Toluene Xylene (BTX) Market Leaders

  1. SABIC

  2. Reliance Industries Limited

  3. China Petrochemical Corporation

  4. PetroChina Company Limited

  5. Exxon Mobil Corporation

*Disclaimer: Major Players sorted in no particular order

Benzene-Toluene-Xylene (BTX) Market Concentration
bookmark Need More Details on Market Players and Competitors?
Download PDF

Benzene Toluene Xylene (BTX) Market News

  • December 2022: SABIC signed a Memorandum of Understanding with Aramco and China Petrochemical Corporation (Sinopec) to develop an integrated petrochemical complex with an existing refinery in Yanbu, Saudi Arabia.
  • December 2022: ExxonMobil announced the start-up of its new polypropylene production unit at the Polyolefins Plant in Baton Rouge, Louisiana. The start-up of a new polypropylene unit improves the capacity to fulfill the growing demand for high-performance products. The unit enhances Gulf Coast polypropylene production capacity by 450,000 metric tons annually.

Benzene Toluene Xylene (BTX) Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Significance of Benzene, Toluene in Various Chemical Applications

      2. 4.1.2 Growing Usage of Xylene as Solvents and Monomers

    2. 4.2 Restraints

      1. 4.2.1 Harmful Effects of Benzene-Toluene-Xylene (BTX)

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Type

      1. 5.1.1 Benzene

      2. 5.1.2 Toluene

      3. 5.1.3 Xylene

        1. 5.1.3.1 Ortho

        2. 5.1.3.2 Meta

        3. 5.1.3.3 Para

    2. 5.2 Product - By Application

      1. 5.2.1 Benzene By Application

        1. 5.2.1.1 Ethylbenzene

        2. 5.2.1.2 Cyclohexane

        3. 5.2.1.3 Alkylbenzene

        4. 5.2.1.4 Cumene

        5. 5.2.1.5 Nitrobenzene

        6. 5.2.1.6 Other Applications

      2. 5.2.2 Toluene By Application

        1. 5.2.2.1 Paints and Coatings

        2. 5.2.2.2 Adhesives and Inks

        3. 5.2.2.3 Explosives

        4. 5.2.2.4 Chemical Industry

        5. 5.2.2.5 Other Applications

      3. 5.2.3 Xylene By Application

        1. 5.2.3.1 Solvent

        2. 5.2.3.2 Monomer

        3. 5.2.3.3 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Chevron Phillips Chemical Company LLC

      3. 6.4.3 CNOOC Ltd

      4. 6.4.4 Dow

      5. 6.4.5 Exxon Mobil Corporation

      6. 6.4.6 INEOS

      7. 6.4.7 IRPC Public Company Limited

      8. 6.4.8 JX Nippon Oil & Gas Exploration Corporation

      9. 6.4.9 MITSUBISHI GAS CHEMICAL COMPANY, INC

      10. 6.4.10 OCI COMPANY Ltd.

      11. 6.4.11 PetroChina Company Limited

      12. 6.4.12 Reliance Industries Limited

      13. 6.4.13 Shell plc

      14. 6.4.14 China Petrochemical Corporation

      15. 6.4.15 SABIC

      16. 6.4.16 S-OIL Corporation

      17. 6.4.17 SK innovation Co., Ltd.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Bio-based Benzene-Toluene-Xylene (BTX)

**Subject to Availability
bookmark You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Benzene Toluene Xylene (BTX) Industry Segmentation

Benzene, Toluene, and Xylene (BTX) are commonly used in the petrochemical industry. BTX is essential for extracting and creating in-demand products such as benzene and nylon. Benzene is an aromatic hydrocarbon and one of the primary chemical building blocks for the petrochemical industry. The Benzene-Toluene-Xylene (BTX) market is segmented by type, product by application, and geography. By type, the market is segmented into Benzene, Toluene, and Xylene. The market is segmented by product by application: Benzene by application, Toluene by application, and Xylene by application. The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, the market sizing and forecasts have been done based on volume (kilotons).

Type
Benzene
Toluene
Xylene
Ortho
Meta
Para
Product - By Application
Benzene By Application
Ethylbenzene
Cyclohexane
Alkylbenzene
Cumene
Nitrobenzene
Other Applications
Toluene By Application
Paints and Coatings
Adhesives and Inks
Explosives
Chemical Industry
Other Applications
Xylene By Application
Solvent
Monomer
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
customize-icon Need A Different Region Or Segment?
Customize Now

Benzene Toluene Xylene (BTX) Market Research FAQs

The Benzene-Toluene-Xylene (BTX) Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

SABIC, Reliance Industries Limited, China Petrochemical Corporation, PetroChina Company Limited and Exxon Mobil Corporation are the major companies operating in the Benzene-Toluene-Xylene (BTX) Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Benzene-Toluene-Xylene (BTX) Market.

The report covers the Benzene-Toluene-Xylene (BTX) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Benzene-Toluene-Xylene (BTX) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Benzene Toluene Xylene Industry Report

Statistics for the 2024 Benzene Toluene Xylene market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Benzene Toluene Xylene analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

BTX Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)