2019 – 2024 Ortho-Xylene Market Covers Current Market Scenario, Market Dynamics with Market Drivers, Restraints, and Upcoming Opportunities
The “Ortho-Xylene Market” report studies the competitive environment of the Ortho-Xylene market is based on company profiles and their efforts on increasing product value and production. Ortho-Xylene market report focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 5 years, key development in past five years.
Ortho-Xylene Market report offers an extensive collection of reports on different markets covering crucial details. Unusual growth strategies adopted by various companies are creating new standards for competition in the global market. Businesses around the world are aiming at increasing their profit margin and establishing a stronghold in the global market. The factors that affect these segments are also discussed in detail in the report.
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Leading Key Players Are:
Key Market Trends:
Phthalic Anhydride (PA) to Dominate the Market
– Phthalic anhydride is industrially an important raw material for the production of anthraquinone; is also used in the manufacture of many vat dyes and in alizarin and alizarin derivatives. It is used directly for the fluorescein, eosin, and rhodamine dyes.
– Several esters are made from phthalic anhydride and are largely used in the plastic industry as plasticizers. It is also used to manufacture alkyd resins, the glyptal and rezyl resins, dioctyl phthalate and the poly-vinyl resins.
– The ever-increasing demand for phthalic anhydride has stimulated a search for alternative raw materials. Ortho-xylene that is available in abundant quantities from the petroleum refineries appears to be the most suitable.
– As a raw material for the production of phthalic anhydride, o-xylene has several advantages. The oxidation of o-xylene permits a simpler feed system than that of the oxidation of naphthalene because of the liquid state of o-xylene.
– The theoretical amount of air required for oxidizing o-xylene is only two-thirds of that required for the oxidation of naphthalene. The heat emitted off during the reaction is 121 kcal less than that of naphthalene. The product is of higher purity and the theoretical yield percentage is higher than that of naphthalene. Furthermore, as o-xylene is a liquid at ordinary temperature, its use permits a simpler feed system.
– Thus, with the increasing demand for phthalic anhydrade, the consumption of o-xylene is likely to increase during the forecast period.
Asia-Pacific to Dominate the Market
– In Asia-Pacific region, China is the largest economy in terms of GDP. The country’s annual growth of GDP was 6.8% in 2017. However, economic growth slowed down marginally and increased by 6.6% in 2018.
– The major proportion of ortho-xylene is in the manufacturing of phthalic anhydride that is used in the production of phthalate-based PVC plasticizers. China is the single largest market for plasticizers with more than 40% of global consumption. Some of the manufacturers of PVC in the country are Shin-Etsu Chemical Co. Limited, Xinjiang Zhongtai Chemical Co. Ltd, Lubrizol, Hanwha Chemical, Formosa Plastics, etc.
– PVC is widely used in the automotive industry. PVC’s thermoplastic properties have lesser weight compared to metals. It has a lower cost of manufacturing methods compared to the cost of other methods. It is an ideal choice for exterior and automotive interior parts. PVC is favored for exterior parts, owing to its light weight, durability, easily shapeable quality, and attractive appearance.
– The overall cost of a component can be brought down to 20-60% by using PVC in place of alternative materials. Some of the automotive components made with PVC include instrument panels, floor coverings, mud flaps, seals, sun visors, and anti-stone damage protection.
– China is by far the largest automotive manufacturer in the world since 2009, with the current share of production of about 29.06%. In 2017, the Chinese automotive industry recorded a growth of 3.19% and reached a total of 29,015,434 units. However, the production decreased by 4.2% in 2018, owing to the decrease in domestic demand and penetration of automotive manufacturers to other countries. The decline is expected to be temporary, as the demand is still increasing.
– Therefore from the above-mentioned points, the high consumption of phthalic anhydride can be witnessed, which leads to an increase in demand for ortho-xylene in the forecast period.
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