Cheese Powder Market Size, Share, Growth, Analysis and Forecast 2016 - 2024
Transparency Market Research states that the global paraxylene market, which held an opportunity of US$33.03 bn in 2015, is expected to exhibit a healthy 7.0% CAGR from 2016 through 2024. If the prediction holds true, the market will rise to US$60.04 bn by 2024.
Transparency Market Research states that the global paraxylene market, which held an opportunity of US$33.03 bn in 2015, is expected to exhibit a healthy 7.0% CAGR from 2016 through 2024. If the prediction holds true, the market will rise to US$60.04 bn by 2024.
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Global Paraxylene <strong>Market</strong>: Rising Use of PET Packaging in APAC<br />
to Drive Dem<strong>and</strong>, observes TMR<br />
The top three vendors in the global paraxylene market, namely Reliance Industries Limited, S-Oil<br />
Corporation, <strong>and</strong> BP plc., collectively accounted for a meagre 12% of the overall market in 2015, says a<br />
recent market research report by Transparency <strong>Market</strong> Research. Nearly 85% of the world’s paraxylene<br />
production is credited to a vast number of small firms or subsidiaries of larger chemical companies, making<br />
the market highly fragmented. Companies are focusing on export as a tool for geographical expansion in<br />
existing as well as established markets in Asia Pacific. High chances of forward integration by key<br />
manufacturers across the value chain are expected to increase competition in the market.<br />
Transparency <strong>Market</strong> Research states that the global paraxylene market, which held an opportunity of<br />
US$33.03 bn in 2015, is expected to exhibit a healthy 7.0% CAGR from <strong>2016</strong> through <strong>2024</strong>. If the prediction<br />
holds true, the market will rise to US$60.04 bn by <strong>2024</strong>. Of the key applications of paraxylene, its use in<br />
the production of purified terephthalic acid (PTA) earns the market its most significant <strong>and</strong> dominant share<br />
in revenues. In 2015, the segment accounted for a nearly 97% of the overall volume of paraxylene<br />
consumed in the global market. From a geographic perspective, the global paraxylene market is led by Asia<br />
Pacific, which accounted for a nearly 84% of the global market in 2015.<br />
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Dem<strong>and</strong> for Polyester in Textile Industry to Remain Key Determinant of Paraxylene Consumption<br />
Globally<br />
Paraxylene is one of the key raw materials used in the production of purified terephthalic acid (PTA), which<br />
is used to manufacture PET. The high use of PET in the textile industry across applications such as clothing,<br />
furnishings, <strong>and</strong> technical textiles earns the global paraxylene market a significant share in its overall<br />
revenues. In the next few years, the high growth expected across the textile industry is expected to have a<br />
significant positive impact on the overall development of the global paraxylene market. Analysts estimate<br />
that the textile industry will exhibit an 11% CAGR from <strong>2016</strong> to 2020. This factor is likely to lead to a vast<br />
rise in dem<strong>and</strong> for paraxylene in the global market in the near future.<br />
The rising dem<strong>and</strong> for PET container resins, especially in Asia Pacific, is also expected to lead to significant<br />
traction to the global paraxylene market over the forecasting horizon. The increased use of PET containers<br />
for packaging in the flourishing food <strong>and</strong> beverages industry in the region will result in the increased dem<strong>and</strong><br />
for paraxylene.<br />
Rising Consumer Awareness about Harms of Using Plastic to Hamper Global Paraxylene<br />
Consumption<br />
The global market for paraxylene, however, is expected to be hampered due to the rising concern regarding<br />
the oversupply of paraxylene in Asia Pacific <strong>and</strong> growth in consumer awareness about plastic-free products.
Many countries across developed economies such as North America <strong>and</strong> Europe are taking measures to<br />
completely ban the use of plastic bags <strong>and</strong> packaging materials. Implementation of stringent government<br />
regulations regarding the same is expected to have a significant negative impact on the development of the<br />
paraxylene market, at least in these developed economies.<br />
Chemicals such as antimony oxide, acetaldehyde, <strong>and</strong> aldehydes are employed in the manufacture of<br />
polyethylene terephthalate products. Antimony oxide, which is used as catalyst in the manufacture of<br />
polyethylene terephthalate, <strong>and</strong> trace amounts of acetaldehyde <strong>and</strong> aldehydes are some of the unavoidable<br />
byproducts in the production of polyethylene terephthalate containers. These chemicals are hazardous to<br />
the environment <strong>and</strong> human health. Awareness regarding such adverse effects of paraxylene <strong>and</strong> its<br />
substitutes on humans <strong>and</strong> the environment is rising at a promising rate across developing economies as<br />
well. These factors will collectively hamper the market’s development over the forecast period.<br />
This review of the market is based on a recent market research report by Transparency <strong>Market</strong> Research,<br />
titled “Paraxylene <strong>Market</strong> - Global Industry <strong>Analysis</strong>, <strong>Size</strong>, <strong>Share</strong>, <strong>Growth</strong>, Trends, <strong>and</strong> <strong>Forecast</strong> <strong>2016</strong><br />
- <strong>2024</strong>.”<br />
Browse full report @ http://www.transparencymarketresearch.com/pressrelease/cheese-powdermarket.htm<br />
For the study, the global paraxylene market has been segmented as follows:<br />
Paraxylene <strong>Market</strong> – Application <strong>Analysis</strong><br />
Purified Terephthalic Acid (PTA)<br />
Dimethyl Terephthalate (DMT)<br />
Others (solvents, etc.)<br />
Paraxylene <strong>Market</strong> – Regional <strong>Analysis</strong><br />
North America<br />
o U.S.<br />
o Canada<br />
Europe<br />
o France<br />
o UK<br />
o Spain<br />
o Germany<br />
o Italy<br />
o Rest of EU<br />
Asia Pacific<br />
o China<br />
o Japan<br />
o ASEAN<br />
o India<br />
o Rest of APAC<br />
Latin America<br />
o Brazil<br />
o Rest of Latin America (LATAM)<br />
Middle East & Africa<br />
o GCC<br />
o South Africa<br />
o Rest of Middle East & Africa (MEA)<br />
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