Market Size – USD 162.66 Billion in 2018, Market Growth - CAGR of 5.9%, Market Trends – Increase in demand for BTX in the manufacture of surfactant & chemical solvent.
New York, NY -- (SBWIRE) -- 04/19/2021 -- Increasing demand for the BTX market in the online retailing business, coupled with high investments in R&D of the BTX market, are fueling the market growth.
Market Size – USD 162.66 Billion in 2018, Market Growth - CAGR of 5.9%, Market Trends – Increase in demand for BTX in the manufacture of surfactant & chemical solvent.
The Global BTX Market is forecast to reach USD 274.78 Billion by 2027, according to a new report by Reports and Data. BTX or commercially known as Hydrogenated Pyrolysis Gasoline (HPG) is the mixture of three simplest aromatic hydrocarbons namely Benzene, Toluene, and Xylene. Most of these aromatic hydrocarbons comes in the liquid form with an aromatic odor. BTX aromatic hydrocarbons are typically produced from double hydrogenation of the Raw Pyrolysis Gasoline (RPG) or debutanized aromatic concentration process, deriving from the catalytic reforming of naphtha in the petroleum refinery plant. The continuous expansion of the fuel additives, paints & coatings, cleaning agent, foams, and polymeric applications, others are some of its widely used end-usages. Use of these hydrocarbons as the chemical solvent or chemical intermediate in the manufacture of plastics, surfactant, rubber, adhesives, detergent, explosives, lubricants, drugs, and pesticides, to name a few are expected to primarily drive the demand of this market throughout the forecast period.
The Asia Pacific region is expected to retain its dominance in the global market. The market is North America is growing at apace due to the extensive use of BTX aromatic hydrocarbons in various industrial sectors. China and India are some of the fastest-growing markets in the world, and the United States and China hold some of the most prominent players in the market.
Key participants include BASF SE, Dow DuPont, ExxonMobil Corporation, China National Petroleum Corporation, Royal Dutch Shell PLC, Borealis AG, Covestro AG, Saudi Basic Industries Corporation, Mitsubishi Gas Chemical Company, Inc., and Reliance Industries Limited, among others.
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Further key findings from the report suggest
- Chemical processing industries sub-segment dominated the market in 2018 with about 36.4% of market share and expected to propel at a growth rate of 4.9% during the period 2019 to 2027. Chemical solvent or chemical intermediate in various industries like lubricant, petroleum production, functional fluids, paint additives, and surfactant are some of the most common applications under this sub-segment.
- Benzene is a commodity petrochemical and an aromatic hydrocarbon product. It is manufactured as a by-product in refineries and steam crackers. Styrene, produced from benzene, is a liquid hydrocarbon that is important mainly for its tendency to undergo polymerization. Styrene is produced from industrially produced or naturally extracted ethylbenzene, which is dehydrogenated in the presence of a catalyst to produce styrene. It is a key chemical ingredient in the production of polymers and synthetic rubbers.
- Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing distribution channel. The online retailing is expected to gain a market share of 26.2% by 2027.
- The European chemical industry is a major part of the country's economy. Europe's chemical industry is a world leader in chemical production. Approximately, more than half of the chemical sales in the region are of polymers and petrochemicals, which in turn propels the demand for benzene and xylene hydrocarbons. The European region is growing at a CAGR of 4.6% throughout the period 2019 to 2027.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/btx-benzene-toluene-and-xylene-market
For the purpose of this report, Reports and Data have segmented the global BTX Market on the basis of the type, sales channel, application, end-use verticals, and region:
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
Benzene
Toluene
Xylene
Mixed
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
Online Retailing
Offline Retailing
Application Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
Solvent
Additive
End-Use Verticals Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
Chemical Processing Industries
Dye Industries
Pharmaceuticals & Consumer Goods
Plastics & Synthetic Fibers
Others
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
North America
Europe
Asia Pacific
Middle East & Africa (MEA)
Latin America
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. BTX Market Segmentation & Impact Analysis
4.1. BTX Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Substantial growth in the chemical processing industries
4.2.2.2. Increasing demand for the surfactant & solvents
4.2.2.3. High demand for BTX in dye industries
4.2.3. Market restraints analysis
4.2.3.1. Toxicity of the plastic compound
4.2.3.2. Regulation with VOC emissions
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
….
Chapter 10. Competitive Landscape
10.1. Market Revenue Share By Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Market positioning
10.5. Strategy Benchmarking
10.6. Vendor Landscape
Chapter 11. Company Profiles
11.1. BASF SE
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Technology Insights
11.1.4. Strategic Initiatives
11.2. Dow DuPont
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Technology Insights
11.2.4. Strategic Initiatives
11.3. ExxonMobil Corporation
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Technology Insights
11.3.4. Strategic Initiatives
11.4. China National Petroleum Corporation
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Technology Insights
11.4.4. Strategic Initiatives
11.5. Royal Dutch Shell PLC
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Technology Insights
11.5.4. Strategic Initiatives
Continue…
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