Xylene refers to a volatile and colorless liquid hydrocarbon derived from coal, petroleum, and wood. Meta-xylene (m-xylene), an isomer of para-xylene and ortho-xylene, is an aromatic hydrocarbon with two methyl substituents attached at the meta positions of the benzene ring. The hydrocarbon is primarily used for producing isophthalic acid, an organic compound used in the production of reinforced plastics, unsaturated polyester resins, inks, and alkyd resins. Thus, the burgeoning need for such products in the packaging and construction industries will augment the need for m-xylene in the coming years.
Additionally, the soaring demand for paints and coatings, owing to their extensive use in the infrastructure and construction sectors, will help the m-xylene market demonstrate a CAGR of 4.4% during forecast period. According to P&S Intelligence, the market revenue will reach $1,341.7 million by 2023. Large quantities of m-xylene, also known as m-dimethylbenzene, m-xylol, 1,3-xylene, and 1,3-Dimethylbenzene, are heavily used in the production of paints and coatings, which are extensively required in the development of retail centers, hotels, offices, residential apartments, and civic infrastructure in India, the U.S., China, and Eastern Europe, due to the mounting focus on infrastructure development in these countries.
The APAC m-xylene market will witness the fastest growth in the forthcoming years, due to the expanding packaging, automotive, and aerospace industries in the region. Moreover, the surging consumption of coating resins and formulations in South Korea and China, owing to the flourishing construction industry in these countries, will also escalate the adoption of m-xylene in the coming years. Besides, the increasing production of polyethylene terephthalate (PET) plastic, due to the rising preference for alcoholic beverages and carbonated drinks, will also create a huge requirement for m-xylene in the region in the foreseeable future.
Thus, the booming demand for paints and coatings and expanding petrochemical industry in APAC will boost the production of m-xylene in the coming years.
