Metaxylene: Introduction
- Metaxylene is an aromatic hydrocarbon. It is one of the three isomers of dimethyl benzene collectively known as xylenes. Meta depicts the two methyl group in m-xylene occupying 1 and 3 position on a benzene ring.
- Metaxylene is primarily employed in the production of isophthalic acid, which is used as a copolymerizing monomer to alter the properties of polyethylene terephthalate. It is also used as a raw material for the production of 2,4-Xylidine and 2,6-xylidine. Furthermore, it is employed in the manufacture of a range of smaller volume chemicals.
- Metaxylene has properties such as water and stain resistance, outstanding hardness, weathering, and corrosion resistance. Metaxylene has adverse narcotic effects on human health in case of high exposure to the compound.
Key Drivers and Restraints of Metaxylene Market
- Extensive usage of metaxylene in the formulation of isophthalic acid is expected to drive the demand for metaxylene. Rise in usage of isophthalic acid in aerospace coatings and architectural coatings is also anticipated to boost the metaxylene market.
- Increase in demand for paints and coatings in the construction industry is propelling the demand for isophthalic acid. This, in turn, is driving the metaxylene market. In line with this, growth in demand for adhesives and sealants in end-use industries and high consumption of isophthalic acid are anticipated to act as key determinants of the metaxylene market during the forecast period.
- Various health-related issues associated with m-xylene and rise in preference of alternative organic solvents are likely to act as key restraints of the metaxylene market during the forecast period
Metaxylene: Application Segment
- In terms of application, the global metaxylene market can be divided into isophthalic acid, 2,4-xylidine & 2,6-xylidine, solvent, and others
- Purified isophthalic acid (PIA) is primarily used as an intermediate in the production of unsaturated polyester resins, followed by polyester and alkyd resins (mainly for surface coatings) and inks, reinforced plastics, and packaging applications
- Other applications of isophthalic acid are as follows: aerospace coatings, architectural coatings, automotive, building materials, coil coatings, construction chemicals, electronic connectors, equipment and machinery, lubricants, metal coatings, packaging components, non-food contact, paints and coatings, polyester, process additives, protective coatings, refrigerator and coolant systems, and sport drinks packaging
COVID-19 Impact on Metaxylene Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to the recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the metaxylene market in the near future.
Asia Pacific to Hold Leading Share of Metaxylene Market
- In terms of region, the metaxylene market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global metaxylene market, followed by North America and Europe, during the forecast period. Rise in demand for paints and coatings, adhesives, and plasticizers in China, Japan, and India is estimated to create lucrative opportunities for the demand of isophthalic acid. This, in turn, is projected to boost the metaxylene market in the region during the forecast period.
- Growth in private investments in developing economies of Asia Pacific, such as Indonesia and Vietnam, is also a major factor anticipated to drive the market in the region during the forecast period
- The metaxylene market in Latin America and Middle East & Africa is projected to expand at a moderate pace in the near future. Metaxylene is imported in countries such as Brazil, Mexico, and South Africa due to limited presence of manufacturing companies in these countries. Increase in government expenditure on the construction of development projects and public infrastructure is likely to drive the demand for metaxylene in Latin America and Middle East & Africa in the next few years.
Key Manufacturers Operating in Metaxylene Market
The global metaxylene market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global metaxylene market include:
- Honeywell International Inc
- Cepsa
- Sulzer Chemtech AG
- Amoco Chemical Company
- BP P.L.C.
- MITSUBISHI GAS CHEMICAL COMPANY, INC.
Metaxylene Market: Research Scope
Metaxylene Market, by Application
- Isophthalic Acid
- 2,4-Xylidine & 2,6-Xylidine
- Solvent
- Others
Global Metaxylene Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
