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Para Xylene (PX) Market Size, Share, Growth

In 2020, the Paraxylene Market Size is estimated to value at USD 81.02 Billion and is predicted to grow at a CAGR of 12.05% during the forecast period. Paraxylene is a colorless, toxic, sweet-smelling, or highly flammable aromatic hydrocarbon that is produced from catalytic reforming or thermal cracking of naphtha. This is also known as dimethyl benzene or p- xylene or PX. This is used in the manufacturing process of Purified Terephthalic Acid (PTA) and dimethyl terephthalate (DMT) which are further used as polyester fiber, film, and resin. The manufacturing process of paraxylene includes a mixture of benzene, xylene, and toluene, conversion of naphtha into BTX, and the separation of PX bt fractional crystallization. PX is a type of petrochemical, its polyester is used in various industrial applications like textile manufacturing and packaging. COVID-19 Analysis: In 2020, due to the COVID-19 pandemic, most of the business sectors are drastically impacted. Market Dynamics: Drivers: By Region

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