The Global Xylene Market is Expected to Grow in the Forecast Period at a CAGR of 7.6%/n
The global demand for Xylene has growing sharply over the last decade. The global Xylene demand in 2000 was 20.9 million tons. Global Xylene capacity increased to 31.5 million tons in 2009. Much of the increase in demand for Xylene came from the Asia Pacific region, and the same trend is expected to continue in the near future. Asia Pacific is expected to account for 81.5% of the global Xylene demand in 2020. The global demand for Xylene will grow and reach to 70.5 million tons in 2020.
Asia Pacific Polyester Fiber Market to Drive Global Xylene Demand
The Asia Pacific region is emerging as the textile industry hub of the world. The advantage of low costs because of cheap labor is aiding the growth of textile industry in the region. There has been a continuous shift in the manufacturing industry from the developed regions of the world like North America and Western Europe to take advantage of the low-cost facilities available in Asia Pacific. As a result, demand is continuously increasing in the Asia Pacific region, with the Chinese economy leading, followed by India and South Korea. Much of the Xylene produced is used to make Pure Terephthalic Acid (PTA) which is further used in polyester production. This trend of increased consumption from the Asia Pacific countries is expected to continue in future. And as a result polyester fiber market in Asia Pacific will the global demand in the coming years.
PET forms up to 30% of the global PTA demand in 2009. PET is increasingly being used as a replacement for glass in soft drink and mineral water bottles. Further PET is finding applications in packaging of various food products and drinks Ltd. The decline in the consumption of polyester in the textile industry, especially in North America and Europe, is being compensated for by the growth of PET bottle resin markets. A similar trend is being observed worldwide, and as a result the demand for Xylene is expected to grow considerably in the regions where per capita consumption of PET is low.
GBI Research’s ‘Xylenes Global Market Dynamics to 2020 Polyester Fiber Market in Asia Pacific Drives the Global Demand’ is an in-depth report on the demand side of the global Xylene industry the global Xylene industry. The report navigates the reader through the global Xylene market with detailed analysis and forecasts of the major economic and market trends affecting the Xylene demand in all the major regions of the world. It includes analysis and forecasts of Demand major regions and countries. It provides major drivers and restraints for Xylene demand in various regions. Xylene Demand share analysis by End Use, Xylene (Para, Ortho and Meta) Price analysis for an individual countries, regional and country wise competitive landscape is also included in this comprehensive
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