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As per the latest report by IMARC Group, titled “Paraxylene (PX) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global paraxylene market expected to exhibit moderate growth during.... Looking forward, the global paraxylene (PX) market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026). Paraxylene, also known as P-Xylene or PX, is a colorless, aromatic, toxic and organic compound that is highly flammable at room temperature. It is one of the isomers of xylene, other than M-xylene and O-xylene. Paraxylene occurs naturally in coal tar and petroleum and can be synthetically obtained from benzene. Paraxylene is used as a raw material for producing various industrial chemicals, including dimethyl-terephthalate (DMT) and purified terephthalic acid (PTA). These chemicals are further used to manufacture plastics such as polyethylene terephthalate (PET).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Paraxylene Market Trends:
Paraxylene finds several applications across the packaging, construction, textile and cosmetics industries. In the packaging and cosmetics industry, there has been an increase in the use of paraxylene in the production of plastic bottles and containers for toiletries and other personal care products. Other than this, various technological innovations within the textile industry have stimulated the demand for PET-based fiber for making curtains, upholstery and clothing. Other uses of PET include the production of construction materials, magnetic tapes, furniture, films for X-rays, packaging for processed meats, boil-in bags and polyester films. With rising prosperity, the demand for these products is growing, which in turn is influencing the global paraxylene market outlook. Apart from this, as paraxylene is moderately unsafe for aquatic organisms and the environment, several regulatory bodies are tracking the manufacturing units to regulate plant-generated emissions. This has pushed producers to employ biological paths to produce bio-based paraxylene, which is more environment-friendly.
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Competitive Landscape with Key Player:
Market Breakup by Application:
Market Breakup by End Use Industry:
Market Breakup by Region:
Key Highlights of the Report:
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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