South Korea Para-Xylene (PX) Market was valued at USD 4.0 Billion in 2022 and is projected to reach USD 5.8 Billion by 2030, growing at a CAGR of 4.8% from 2024 to 2030.
The South Korea Para-Xylene (PX) market has been witnessing substantial growth due to increasing demand across various industries, particularly in the production of plastics, synthetic fibers, and chemicals. Para-Xylene (PX) is a critical raw material used primarily in the manufacturing of purified terephthalic acid (PTA), which is essential in the production of polyethylene terephthalate (PET). The demand for PX is driven by the textile and packaging industries, as well as the growing need for advanced chemical products.
As industries expand in South Korea, the requirement for Para-Xylene (PX) is also escalating. One of the key drivers of this demand is the textile industry, which heavily relies on PX to produce polyester fibers. Polyester is a popular material used in the production of clothing, upholstery, and other consumer goods. Additionally, PX plays a crucial role in the chemical sector, where it is used in manufacturing various products such as solvents, resins, and coatings, further increasing its market value.
South Korea’s Para-Xylene (PX) market is influenced by both domestic and global factors. Domestically, the strong presence of large petrochemical companies contributes to the steady supply of PX, while globally, the increasing demand from emerging markets further fuels the need for PX. Furthermore, the automotive and electronics industries, which require various plastic components, contribute to the continuous growth of the PX market in the region.
The supply chain for Para-Xylene (PX) involves complex processes including the extraction of PX from crude oil, making the industry highly dependent on crude oil prices. Market fluctuations, therefore, affect the cost and availability of PX, adding an element of uncertainty. The demand from key industries, however, remains robust despite these challenges, driving investment and technological advancements in the sector.
Looking at the future, the South Korea Para-Xylene (PX) market is expected to see continuous expansion, driven by the ever-growing requirements from industries such as textiles, automotive, packaging, and electronics. Industry players are anticipated to invest in new technologies and efficient production methods to meet the evolving demand and maintain a competitive edge in the global PX market.
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Mitsubishi Gas Chemical
BP
CEPSA
ExxonMobil
Gazprom Neft PJSC
Petkim Petrokimya Holding
Polimeri Europa
Shell
Total Petrochemicals
Flint Hills Resources
Chevron Phillips
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Para-Xylene (PX) Market
Automotive
Textiles
Packaging
Pharmaceuticals
Electronics
Plasticizers
Solvents
Paints and Coatings
Detergents
Adhesives
Industrial Grade
Food Grade
Pharmaceutical Grade
Friedel-Crafts Alkylation
Steam Cracking
Oxidation of Xylene
Direct Sales
Retail Sales
Online Sales
Wholesale Distribution
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Para-Xylene (PX) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Para-Xylene (PX) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Para-Xylene (PX) Market, By Type
6. South Korea Para-Xylene (PX) Market, By Application
7. South Korea Para-Xylene (PX) Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Para-Xylene (PX) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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