Xylene Market Analysis, Size, Share 2023

Xylene Market Overview

The global xylene market is expected to exhibit steady growth over the forecast period, driven by the steady demand from end-use industries such as automotive, textile, paints and coatings, and chemicals, according to the latest research report from Market Research Future (MRFR).

Xylene Market Segmentation:

The global xylene market outlook is segmented on the basis of type, application, and region.

By type, the global xylene market is segmented into O-xylene, M-xylene, and P-xylene.

By application, the global xylene market is segmented into automotive, textiles, chemical, oil and gas, leather, paints and coatings, rubber, and others. The automotive industry is likely to remain the major end user in the global xylene market over the forecast period.

Xylene Market Competitive Analysis:

Leading players in the global xylene market include LG Chem, The Dow Chemical Company, ExxonMobil Corporation, Formosa Plastics Corporation, Toray Industries Inc., Chevron Philips Chemical Company, Huntsman Corporation, BASF SE, China National Petroleum Corporation, and Eastman Chemical Company.

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Xylene Market Regional Analysis:

Asia Pacific is likely to hold the largest share in the global xylene market over the forecast period due to the growing demand for xylene in the paints and coatings industry, including automotive paints and coatings, as well as the chemicals industry and textile industry. The automotive industry is likely to remain the major end user of xylene in the global market due to the growing demand for xylene in the paints, sealants, and coatings used on automotive components such as gearboxes, engines, and others. The growing automotive industry in Asia Pacific is likely to remain the major driver for the xylene market in the region over the forecast period. The automotive industry in Asia Pacific has grown by leaps and bounds over the last few decades thanks to the liberalization of the economy in India and China, among others, and the growing automotive production in China, Japan, and South Korea. The growing number of automobiles produced in these countries is likely to remain a major driver for the xylene market in the region over the forecast period.

The growing paints and coatings industry in Asia Pacific is also likely to be a major driver for the global xylene market growth over the forecast period. The paints and coatings industry in the region has been driven by the growing construction industry, as the increasing number of residential, industrial, and commercial complexes are demanding paint jobs and weatherproof coatings. The growing construction industry in major developing economies such as India and China is likely to remain a major driver for the xylene market in the region over the forecast period.

North America is also a major market for xylene and is likely to retain a dominant share in the global market over the forecast period due to the growing demand for xylene from the automotive and paints and coatings industries. The growing demand for renovation of construction and infrastructure projects in North America has led to a growing demand from the paints and coatings industry, leading to a growing demand from the xylene market. The growing infrastructure expansion projects in the U.S., Canada, and Mexico are likely to be a major driver for the paints and coatings industry in the region over the forecast period, thus driving the demand from the xylene market. The growing automotive industry is also likely to be a major driver for the xylene market in North America over the forecast period, as the awareness regarding the use of environmentally viable coatings and sealing products in automotive applications has driven the demand from the xylene market. Growing automotive production from major automotive giants such as GM, Ford, Mercedes, and BMW is likely to be a major driver for the xylene market in North America over the forecast period.

Europe is also likely to remain a major regional market for xylene over the forecast period, mainly due to the growing demand from the automotive industry. The Middle East and Africa is not likely to leave a major mark on the global xylene market in the coming years, as the industrial output in the region is fairly low.