The global meta-xylene market size reached US$ 1.4 billion in 2023. The market is projected to reach US$ 1.9 billion by 2032, exhibiting a growth rate (CAGR) of 4.03% during 2023-2032. The significant growth in the construction industry, widespread product utilization in protective coatings, and the increasing product demand for the formulation of isophthalic acid represent some of the key factors driving the market.
Meta-xylene is a colorless, organic compound with a sweet odor obtained from coal, wood, and petroleum. It comprises two clusters of methyl connected to a six-carbon ring. It is widely used as a raw material for the production of 2,4-Xylidine, m-dimethylbenzene, m-xylol, 2,6-xylidine, and isophthalic acid, that is used as a copolymerizing monomer to alter the properties of polyethylene terephthalate. Meta-xylene is commonly found in various products, such as varnishes, inks, paint thinners, degreasers, and insecticides. It exhibits outstanding hardness, weathering, corrosion, water, and stain resistance. It is miscible with acetone, alcohol, ether, and benzene and soluble in chloroform. As a result, meta-xylene fiend extensive applications across various industries, including packaging, construction, and automotive.
2. What is the expected growth rate of the global meta-xylene market during 2024-2032?
3. What are the key factors driving the global meta-xylene market?
4. What has been the impact of COVID-19 on the global meta-xylene market?
5. What is the breakup of the global meta-xylene market based on the application?
6. What is the breakup of the global meta-xylene market based on the end user?
7. What are the key regions in the global meta-xylene market?
8. Who are the key players/companies in the global meta-xylene market?
Meta-xylene is a colorless, organic compound with a sweet odor obtained from coal, wood, and petroleum. It comprises two clusters of methyl connected to a six-carbon ring. It is widely used as a raw material for the production of 2,4-Xylidine, m-dimethylbenzene, m-xylol, 2,6-xylidine, and isophthalic acid, that is used as a copolymerizing monomer to alter the properties of polyethylene terephthalate. Meta-xylene is commonly found in various products, such as varnishes, inks, paint thinners, degreasers, and insecticides. It exhibits outstanding hardness, weathering, corrosion, water, and stain resistance. It is miscible with acetone, alcohol, ether, and benzene and soluble in chloroform. As a result, meta-xylene fiend extensive applications across various industries, including packaging, construction, and automotive.
Meta-xylene Market Trends
The significant growth in the construction industry across the globe is one of the key factors creating a positive outlook for the market. In line with this, meta-xylene is widely used as a solvent in the production of paints and coatings. This, coupled with the increasing residential construction activities and the rising number of housing projects is favoring the market growth. Additionally, the increasing product utilization for the formulation of isophthalic acid used in aerospace and architectural coatings is acting as another growth-inducing factor. Moreover, isophthalic acid is also used as a component of high-quality alkyds and polyester resins for industrial coatings and unsaturated polyesters for fiberglass-reinforced plastics applications, which, in turn, is driving the market growth. Apart from this, the utilization of m-xylene as a feasible feedstock to produce sustainable hydrogen fuel using nickel-based catalysts, which, in turn, has wide-ranging applications in the automotive, transportation, and power generation industries, is providing an impetus to the market growth. Furthermore, the increasing product demand as a component of polyethylene terephthalate (PET), which is widely used in packaging foods and beverages, such as sodas, water, and juices, is positively influencing the market growth. Along with this, the widespread utilization of meta-xylene derivatives, including purified terephthalate acid and dimethyl terephthalate, to manufacture face shields, transparent masks, food, and e-commerce packaging is facilitating the market growth. Other factors, including significant expansion in the automotive industry, extensive research and development (R&D) activities, key players focusing on new product launches, and widespread product utilization in protective coatings, refrigerators, and coolant systems, are anticipated to drive the market growth further.Key Market Segmentation:
The report provides an analysis of the key trends in each segment of the global meta-xylene market, along with forecasts at the global, regional, and country level from 2023-2032. The report has categorized the market based on application and end user.Application Insights:
- Isophthalic Acid
- 2,4- and 2,6-xylidine
- Solvents
- Others
End User Insights:
- Construction
- Packaging
- Automotive
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global meta-xylene market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Compañía Española de Petróleos S.A.U., GS Caltex Corporation, Honeywell International Inc., Lotte Chemical Corporation, Mitsubishi Gas Chemical Company Inc., Parchem Fine & Specialty Chemicals, Thermo Fisher Scientific Inc., Tokyo Chemical Industry, etc.Key Questions Answered in This Report
1. What was the size of the global meta-xylene market in 2023?2. What is the expected growth rate of the global meta-xylene market during 2024-2032?
3. What are the key factors driving the global meta-xylene market?
4. What has been the impact of COVID-19 on the global meta-xylene market?
5. What is the breakup of the global meta-xylene market based on the application?
6. What is the breakup of the global meta-xylene market based on the end user?
7. What are the key regions in the global meta-xylene market?
8. Who are the key players/companies in the global meta-xylene market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Meta-xylene Market
6 Market Breakup by Application
7 Market Breakup by End User
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Compañía Española de Petróleos S.A.U.
- GS Caltex Corporation
- Honeywell International Inc.
- Lotte Chemical Corporation
- Mitsubishi Gas Chemical Company Inc.
- Parchem Fine & Specialty Chemicals
- Thermo Fisher Scientific Inc.
- Tokyo Chemical Industry
Methodology
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