Ortho Xylene Market - Forecast(2021 - 2026)

 

Ortho Xylene Market Overview

Ortho xylene market size is forecast to reach $4.3 billion by 2025, after growing at a CAGR of 4.8% during 2020-2025, owing to the extensive usage of ortho xylene in the manufacturing of phthalic anhydrides. 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 major factor driving the growth of the ortho xylene market globally is the increasing application of phthalic anhydride in wire & cable, swimming pool liners, roofing membrane, coated fabrics manufacturing. The wide usage of phthalic anhydride as a precursor to phthalate esters and as a plasticizer in polyvinyl chloride industries is driving the ortho xylene market substantially during the forecast period.

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Report Coverage

The report: “Ortho Xylene Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the ortho xylene industry. 

By Application: Phthalic Anhydride (Alkyd Resins, Polyester Resins, Plasticizers, and Others), Bactericides, Herbicides, Lube Oil Additives, and Others.

By End-Use Industry: Automotive (Passenger Vehicles, Commercial Vehicles, and Others), Building & Construction (Residential, Commercial, Industrial, and Others), Paints & Coatings, Aerospace & Defense (Commercial, Military, and Others), Marine (Cargo, Passenger, Supply Vessels, and Others), Electrical & Electronics, Agrochemical (Pesticides, Disinfectants, and Others), Oil & Gas, Chemical, and Others.

By Geography: North America, South America, Europe, Asia Pacific, RoW.

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Key Takeaways

• Asia-Pacific dominates the diketene market, owing to the increasing demand for ortho xylene from the automotive industries to manufacture interior parts and bumpers of automobiles. According to OICA, the production of light commercial vehicles has augmented by 10.2 % in 2018 in the APAC region.
• Ortho xylene is an intermediate for phthalic anhydride which is used in the production of PVC. And because of its lightweight, durability, readily shapeable quality, and attractive appearance, PVC is widely used in the automotive industry. It has a lower cost of manufacturing methods compared to the cost of other methods, which is driving the ortho xylene market growth.
• Due to the Covid-19 outbreak, all the building and construction activities are stopped until the pandemic, no new orders can be taken over neither the existing order production could be completed, which is heavily affecting the ortho xylene market negatively. 

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Ortho Xylene Market Segment Analysis - By Application

The phthalic anhydride segment held the largest share in the ortho xylene market in 2019 and is growing at a CAGR of 3.6%, owing to the growing demand for phthalic anhydride from the automotive, aviation, construction, and furniture industries because of its properties such as lightweight, chemical rotting, high transparency, resistant to weather, corrosion, abrasion and impact resistance. The phthalic anhydrides are generally used in various end-use industries as they increase the polymer's flexibility and elongation or ease of processing by reducing the cohesive intermolecular forces along the polymer chains. In the automotive and aviation sector, phthalic anhydride is also widely used as it can be easily cut, shaped, welded, and joined in a range of styles. Owing to these extensive properties of phthalic anhydrides the demand for phthalic anhydride is on an upsurge, which is anticipated to further drive the ortho xylene market during the forecast period.

Ortho Xylene Market Segment Analysis - By End-Use Industry

The building & construction sector held the largest share in the ortho xylene market in 2019, owing to the increasing usage of ortho xylene for phthalic anhydride production, which is then largely employed in the production of polyvinyl chloride (PVC). Due to the extensive properties of Polyvinyl chloride such as low cost, high strength, and dimensional stability, the demand for PVC is increasing in the building and construction sectors for applications such as flooring, wiring, and plumbing.  Building and construction activities are expanding at a lucrative rate across the world. According to the US Census Bureau, in February 2020 total construction was at a seasonally adjusted annual rate of 1,366,697 which is 6.0 percent above the February 2019 rate of 1,288,951.  According to the European Commission, the total construction investment in Germany increased by 9.5% over 2008-2015. The building and construction activities are also increasing owing to the various government initiatives such as Foreign Direct Investments (FDI). Thus with the increasing building and construction sector, the demand for polyvinyl chloride will also increase, which is anticipated to propel the ortho xylene market during the forecast period.

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