As per the GRID-Arendal, which is a United Nations’ affiliated organization, in 2017, around 400.0 million tons of plastic were manufactured. Isophthalic acid is used for producing plastic in huge quantities. Since meta-xylene is required for producing isophthalic acid, the increasing usage of isophthalic acid is fueling the surging demand for m-xylene. The mushrooming requirement for paints and coatings, due to their heavy utilization in infrastructural development and construction activities, is also pushing up the worldwide sales of meta-xylene.
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During the last several years, several petrochemical producing organizations have built and proliferated their production facilities near the oil-producing regions, especially in the Americas, Europe, and the Middle East. However, during the last few years, the Asia-Pacific (APAC) region has observed huge expansion in the petrochemical sector. This is one of the major trends witnessed in the meta-xylene market. This trend has massively pushed up the production of meta-xylene in several countries.
Globally, the m-xylene market is currently recording the fastest growth in the Asia-Pacific (APAC) region, as per the findings of P&S Intelligence, a market research company based in India. This is ascribed to the increasing usage of m-xylol in the packaging, aerospace, and automotive industries. In addition to this, the presence of a rapidly growing construction industry in South Korea and China is boosting the requirement for new coating formulations and resins in the region.
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GLOBAL M-XYLENE MARKET
- By Application – Isophthalic Acid Production; 2,4-Xylidine and 2,6-Xylidine Production; Solvent; and Others (Use of M-Xylene in 2,4-Dimethylbenzophenone Production, in Chemical Syntheses, and as an Intermediate in Dyes and Resins)
- By Region – North America, Europe, Asia-Pacific, and Rest of the World