Research and Markets has recently released a report titled: ‘Global Paraxylene (PX) Market 2014 – 2018’.
Paraxylene (PX) is the basic raw material for the commercial production of purified terephthalic acid (PTA) and dimethyl terephthalate (DMT), which are further used to produce polyester. The basic raw material for producing PX is naphtha. The PX production process includes the conversion of naphtha into BTX, a mixture of benzene, xylene, and toluene, and the separation of PX by factional crystallization. PX is an important petrochemical as its end product polyester is used for various industrial purposes, including textile manufacturing and packaging. It also finds usage as a solvent, along with being the raw material to manufacture Di-PX and herbicides.
Increasing commercial use of Bio-PX, because of increased emphasis on reducing carbon footprint by the manufacturers and consumers, is a positive trend witnessed by this market. With consumers preferring biodegradable packaging products made from natural materials, the manufacturers in the food and beverage market have started emphasing heavily on the reduction of their overall carbon footprint, resulting in the increased commercial usage of Bio-PX.
According to the report, an increase in the demand for polyester fibers is one of the major drivers in the market. Polyester fibers, one of the major end products of PX, are used extensively in the textile and packaging sectors. The global PX market is expected to experience moderate growth as a result of the growth of the global polyester fiber market.
Further, the report states that a fall in the global demand for DMT by the manufacturers of PET and other polyesters in recent years, owing to the increasing commercial use of PTA, is the major challenge faced by the players in the global PX market. This has made it difficult for PX producers to maintain profitability.
Adapted from a press release by Emma McAleavey.