H1 2023: In H1 2023, prices of Ortho Xylene (o-Xylene) fluctuated in the Asia Pacific region. In January, o-xylene prices in the Chinese market experienced a decline, attributed to subdued purchasing trends among end-users. The demand from the downstream phthalic anhydride industry remained tepid, exerting downward pressure on domestic o-xylene prices, despite ample inventories meeting overall demand. However, as the Lunar New Year holidays concluded, o-xylene prices significantly increased in the mid-February 2023. This uptick was driven by heightened demand from the downstream phthalic anhydride industries. Additionally, imports from exporting nations like South Korea encountered challenges, as Chinese ports faced congestion. Port closures and congestion intervals occurred intermittently in March. In April, South Korean o-xylene prices rose, driven by improved purchasing sentiments among end-users. The cost pressure from feedstock Mixed Xylene remained sufficient, following an upward trajectory in prices. However, demand for o-xylene from the Phthalic anhydride industry was moderate in South Korera with downstream procurement primarily relying on small orders. Nevertheless, in mid-May 2023, o-xylene prices experienced a slight decline due to reduced cost pressure from feedstock Mixed Xylene in South Korea. On the demand side, inquiries from the downstream Phthalic anhydride industry stayed moderate, influenced by stagnant consumption in the South Korean construction sector. Simultaneously, overseas market consumption was subdued, attributed to increasing interest rates and inflationary pressure, contributing to a decrease in o-xylene prices in the South Korean market.
The global Ortho Xylene (o-Xylene) market stood at approximately 4200 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.15% during the forecast period until 2032. O-Xylene is derived from the C8 stream generated from mixed Xylene, which is produced through the high catalytic reforming of Naphtha. The C8 stream, containing xylenes, undergoes further processing through a splitter. In this step, the stream with the desired product concentration is passed through a distillation column, facilitating the production of a high-distillation product.
O-Xylene, or ortho-xylene, is a versatile chemical compound with widespread applications across various industries. One of its primary uses is as a solvent, playing a crucial role in the formulation of paints, coatings, adhesives, and varnishes. Its robust solvent properties make it effective in dissolving and diluting diverse substances. Additionally, o-xylene serves as a significant chemical intermediate in the production of various compounds. It is a key precursor in the synthesis of phthalic anhydride (PA), a vital component used in the manufacturing of plasticizers, polyester resins, and dyes. Phthalic anhydride (PA) finds its primary application in the production of PVC plasticizers based on phthalates, unsaturated polyester resins utilized in fiber-reinforced resins, and alkyd resins employed for coatings. In laboratory settings, o-xylene finds utility as a solvent for chemical reactions and is employed in analytical techniques such as gas chromatography. The compound also contributes to the printing industry by being incorporated into ink formulations and plays a role in the rubber industry for the production of synthetic rubber. Moreover, o-xylene is employed in cleaning and degreasing applications, particularly in industrial environments where the removal of contaminants and residues is essential.
The demand for Ortho-Xylene is expected to be driven by its widespread use in the formulation of phthalic anhydride. The global phthalic anhydride market is poised for growth driven by the rising requirement for plasticizers in flexible PVC production. A surge in PVC demand, fuelled by robust growth in the building and construction sector, is a significant contributing factor. The automotive industry's increased demand for PVC, used in dashboards, vehicle body parts, electrical cable sheathing, and instrument panels, is expected to further elevate phthalic anhydride demand. The widespread application of phthalic anhydride in various sectors and its cost-effective availability contribute to its rapid ascent. The anticipated surge in the construction sector, along with robust advancements in the automobile industry, is poised to stimulate the use of ortho-xylene in the foreseeable future. Additionally, the expanding paints and adhesive industry is foreseen to contribute to the increased demand for ortho-xylene in the coming years. O-Xylene is used as an inert ingredient in a wide variety of agricultural pesticides which is another factor supporting the Ortho-Xylene market expansion. Owing to these reasons, the global Ortho Xylene (o-Xylene) market is likely to reach approximately 6300 thousand tonnes in 2032.
Asia-Pacific is anticipated to have a dominant position in the Ortho-Xylene market with respect to both revenue growth and market share, primarily due to the region's extensive production of plastic. The Asia Pacific region is strategically positioned to lead the O-Xylene market, driven by pivotal factors. Rapid industrialization and economic upswing, particularly in key markets like China and India, are pivotal drivers, significantly increasing the demand for O-Xylene, a vital feedstock in diverse manufacturing processes. As a recognized global manufacturing hub spanning textiles, plastics, and chemicals, the region stands as a central nexus for both O-Xylene production and consumption. The thriving construction sector, propelled by urbanization and infrastructure growth, amplifies the demand for O-Xylene, particularly in construction-specific adhesives and sealants. The burgeoning automotive industry, coupled with the region's prominence in consumer goods manufacturing, solidifies Asia Pacific's standing in the O-Xylene market. Furthermore, the region's substantial and expanding population, alongside ongoing urbanization trends, propels heightened demand PVC-based products utilizing O-Xylene, affirming Asia Pacific's dominance in this chemical landscape.
Based on the end-user industry, the global Ortho Xylene (o-Xylene) market is divided into Phthalic Anhydride, Agrochemicals, Lube Oil additives, and Others. Although, Phthalic Anhydride is the major segment and held about 66% of the global Ortho Xylene (o-Xylene) market in 2022 and is anticipated to prevail the similar trend in the upcoming years.
Major players in the Global Ortho Xylene (o-Xylene) market are Exxon Mobil Corporation, Royal Dutch Shell PLC, China Petroleum & Chemical Corporation, Reliance Industries Limited, Creasyn Finechem (Tianjin) Co., Ltd., Doe & Ingalls., ., and Formosa Chemicals & Fibre Corp.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Ortho Xylene (o-Xylene) which covers production, demand and supply of Ortho Xylene (o-Xylene) market in the globe.
• To analyse and forecast the market size of Ortho Xylene (o-Xylene)
• To classify and forecast Global Ortho Xylene (o-Xylene) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Ortho Xylene (o-Xylene) market in the globe.
To extract data for Global Ortho Xylene (o-Xylene) market, primary research surveys were conducted with Ortho Xylene (o-Xylene) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Ortho Xylene (o-Xylene) market over the coming years.
ChemAnalyst calculated Ortho Xylene (o-Xylene) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Ortho Xylene (o-Xylene). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Ortho Xylene (o-Xylene) manufacturers and other stakeholders
• Organizations, forums and alliances related to Ortho Xylene (o-Xylene) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ortho Xylene (o-Xylene) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Ortho Xylene (o-Xylene) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
4200 thousand tonnes
Market size Volume in 2032
6300 thousand tonnes
Growth Rate
CAGR of 4.15% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Phthalic anhydride, Agrochemicals, Lube Oil additives, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Ortho Xylene (o-Xylene) market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Ortho Xylene (o-Xylene).
3. Capacity By Location
To better understand the regional supply of Ortho Xylene (o-Xylene) by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Ortho Xylene (o-Xylene) by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Phthalic anhydride, Agrochemicals, Lube Oil additives, and Others) are creating a market and the forecast for the growth of the Ortho Xylene (o-Xylene) market.
7. Demand by Region
Analyzing the change in demand of Ortho Xylene (o-Xylene) in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Ortho Xylene (o-Xylene). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Ortho Xylene (o-Xylene).
10. Company Share
Figure out what proportion of the market share of Ortho Xylene (o-Xylene) is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Ortho Xylene (o-Xylene).
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the market size of Ortho Xylene (o-Xylene) in terms of volume in 2022?
Ans:
The global market size of Ortho Xylene (o-Xylene) has reached approximately 4200 thousand tonnes in 2022.
Q2.
Which industry is the leading consumer of Ortho Xylene (o-Xylene)?
Ans:
Phthalic anhydride industry is the leading consumer of Ortho Xylene (o-Xylene) globally.
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