Who are the global paraxylene producing countries?
In 2019, the global market size value of paraxylene was USD 48.72 billion. Around three-fourths of the global paraxylene production happens in Northeast Asia, the Indian Subcontinent, Southeast Asia and the Middle East. Countries like China and South Korea are the biggest producer of paraxylene. China produces paraxylene for supplying to domestic PTA/PET polymer producers while South Korea produces to mainly serve the export market. But the growing demand for polyester fiber has resulted in the growth potential in many developing countries to produce paraxylene on a large level like India, Vietnam, Bangladesh, and Brazil.
Companies like Reliance Industries, SINOPEC, ExxonMobil, JX Nippon Oil & Energy Corp are a few of the largest producers of paraxylene in the global market. Due to an increase in the demand for polyester fiber in the packaging and textile industries, in 2019 Asia Pacific dominated the paraxylene market with a share of 82.3%. It includes countries like China, India and Japan.