Global Orthoxylene Market 2015-2019: Huge Growth of Orthoxylene Market in China with ExxonMobil, Formosa, Reliance Industries, Sinopec & UOP Dominating

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Feb 24, 2015, 11:19 ET

DUBLIN, Feb. 24, 2015 /PRNewswire/ --Research and Markets

(http://www.researchandmarkets.com/research/znn2qt/global) has announced the addition of the "Global Orthoxylene Market 2015-2019" report to their offering.

The analysts forecast the Global Orthoxylene market to grow at a CAGR of 6.9% over the period 2014-2019

Orthoxylene is a compound used for making phthalic anhydride, an aromatic acid anhydride. Almost 90-95 percent of orthoxylene produced worldwide is used in the manufacturing of phthalic anhydride, which is commercially available as white, free-flowing fragments or colourless molten material with a pungent smell. Phthalic anhydride is used in the manufacture of plasticizers such as PVC. Orthoxylene is often produced along with paraxylene during isomerization and is recovered separately. It is also used in the manufacture of bactericides, herbicides, and lubricating oil additives. Orthoxylene consists of at least 95 percent orthoxylene, and 5 percent metaxylene and paraxylene.

One key trend emerging in the market is the huge growth in the Orthoxylene market in China, which is a major positive trend being witnessed in the Global Orthoxylene market. With the increased economic and industrial development in China resulting in the rise in the per capita income, there has been an increase in the consumption of various solvents and major end-products of orthoxylene such as PVC pipes and other related products.

According to the report, the upsurge in the Global Phthalic Anhydride market is the major driver of the market and it is expected to witness steady growth in the near future driven by the rise in demand for PVC. The increased demand for plasticizers, dyes, and resins has led to the strong growth of the market. Phthalates and unsaturated polyester resins have been the leading end-users of phthalic anhydrides, which are expected to witness substantial growth.

Further, the report states that one of the major challenges for the market is the volatility in crude oil prices, which will affect the profitability of orthoxylene producers. Xylene prices are directly related to international crude oil prices. The instability of crude oil prices has a direct impact on xylene prices.

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