According to IMARC Group’s latest research report, titled “Meta-xylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the meta-xylene market demand. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global meta-xylene market size reached US$ 1.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.
Meta-xylene Market Outlook:
Meta-xylene is a clear organic compound that emits a pleasant scent and is derived from coal, wood, and petroleum. It is produced from crude oil and is commonly used as a solvent in the chemical industry for the production of dyes, polymers, and plastics. It is 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, it finds extensive applications across various industries, including packaging, construction, and automotive. It is also used as a fuel additive to improve gasoline octane ratings and reduce emissions. Additionally, it is used as a component in the production of aviation and automotive fuels, and in the manufacture of rubber and adhesives.
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Meta-xylene Market Trends:
Significant growth in the construction industry is driving the global market. Along with this, the increasing construction activities and the rising number of housing projects are catalyzing the market across the globe. Moreover, the growing demand for high-octane gasoline is augmenting the market as meta-xylene is used as a fuel additive to improve gasoline octane ratings and reduce emissions. In line with this, the increasing utilization of meta-xylene in various industries, such as construction, automotive, and electronics is impacting the market favorably. Furthermore, the governments of several countries are implementing regulations to reduce emissions from vehicles and other sources, which in turn is creating a positive market outlook as meta-xylene is used as a fuel additive that helps in reducing emissions.
Key Market Segmentation:
Competitive Landscape with Key Players:
- 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
- Isophthalic Acid
- 2,4- and 2,6-xylidine
End User Insights:
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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