Market Size of Xylene Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Xylene Market Analysis
The xylene market is projected to register a CAGR of less than 5% during the forecast period.
The COVID-19 pandemic moderately impacted the market. Xylenes are used in paint thinners as solvents. Construction activities were halted globally due to the COVID-19 outbreak. However, the use of face shields, transparent masks, food, and e-commerce packaging increased, thus, enhancing the demand for xylene derivatives, including purified terephthalate acid, dimethyl terephthalate, and polyethylene terephthalate. This factor stimulated the xylene demand. However, the market is projected to grow steadily, owing to growth trends in the end-user industries in 2022.
- Over the short term, the increasing demand from the rapidly growing end-user industries is driving the market.
- However, the toxic effects of xylenes and increased consumer awareness regarding plastic-free products are expected to hinder the market's growth.
- Nevertheless, cheaper feedstock through shale oil discoveries and a rising trend for the production of bio-based xylene are likely to act as an opportunity during the forecast period.
- Asia-Pacific is estimated to witness healthy growth over the assessment period in the xylene market due to the vast usage of xylene in end-use application segments, such as plastics, polymers, paints and coatings, adhesives, etc., due to their desirable properties.
