Paraxylene Market to Receive Overwhelming Hike in Revenues by 2023

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Paraxylene Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2024

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Paraxylene Market Snapshot

• Paraxylene known as p-xylene, is a chemical
  important for the production of PET plastic
  containers and polyester fiber. Paraxylene is
  used as a feedstock to make other modern
  synthetics, prominently terephthalic acid (TPA),
  cleansed terephthalic acid (PTA) and
  dimethyl-terephthalate (DMT).
• TPA, PTA and DMT are utilized to produce
  polyethylene terephthalate (PET) polyesters, a
  sort of plastic. 
• Bottles produced using PET plastic are generally
  utilized to store water, soft drinks, and
  different refreshments since PET is lightweight,
  break safe, and strong.

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Supportive Government Policies to Drive Demand
for Off-Grid Solar Lighting Products 

• Globally the demand for off-grid solar lighting
  products is rising at a significant rate as
  people needs better and advanced lighting
  options.
• In several regions, especially in developing
  regions people are highly dependent on natural
  fuels such as wood, kerosene, and coal.
• But the use of these sources have an extreme
  adverse effect on the environment.
• Therefore, off-grid solar lighting products have
  been introduced that will help in minimizing the
  effect of these natural fuels and increase the
  demand in this market. 

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Rising uptake in Packaging and Textile
Manufacturing Industries drive Growth

• The substantial usage of paraxylene in making PTA
  which is a key raw material for making PET
  provides a robust underpinning to the rapid
  expansion of the market during the forecast
  period.
• The widespread uptake of PET in numerous
  applications in the textile industry is a key
  factor boosting the market.
• The usage of paraxylene in manufacture of
  furnishings, technical textiles, and clothing, is
  substantially adding to the overall global
  revenues in the market.

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Some of the key vendors operating in the global
paraxylene market

•  Sinopec Corporation,
• China National Petroleum Corporation
• BP plc
• Exxon Mobil Corporation
• JX Nippon Oil Energy Corporation
• among others

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