Paraxylene Market Scope, Upcoming Trends, Outlook and Future Scenario Forecast Until 2023
Market Overview Paraxylene also known as P-Xylene is an aromatic hydrocarbon and isomer of xylene compound, which is derived from dimethylbenzene. It is used in terephthalic acid, purified terephthalic acid, and dimethyl terephthalate. Purified terephthalic acid is majorly used in the production of polyethylene terephthalate. Applications of paraxylene are increasing in major end-user industries such as textile and packaging for food, beverages, and personal care products. The demand for paraxylene is driven by the growing apparel and textile industry across the regions. The use of PET is rising in the textile industry due to its recyclability, which reduces the amount of energy consumed while producing fibers. Furthermore, growing packaging industry across the globe is another factor driving the growth of the global paraxylene market. Surging demand for the packaged food and beverages from the working population owing to convenience and longer shelf life is uplifting the market growth. Paraxylene consumption is growing in cosmetics and personal care industry with increasing focus on the consumer on their personal appearance. Moreover, growing demand for polymers from the major end user industries is propelling the market growth. Get Sample Copy@ https://www.marketresearchfuture.com/sample_request/5905 Some of the major trends noticed among the market players are acquisitions and licensing agreements for business expansion. For instance, in February 2018, British Petroleum (BP) and SOCAR TURKEY