Increasing demand for the BTX market in the online retailing business, coupled with high investments in R&D of the BTX market, are fueling the market growth.
Market Size – USD 162.66 Billion in 2018, Market Growth – CAGR of 5.9%, Market Trends – Increase in demand for BTX in the manufacture of surfactant & chemical solvent.
The BTX Market Commercially known as HPG (Hydrogenated pyrolysis Gasoline), BTX is formed by mixing three aromatic hydrocarbons, Benzene, Toluene, and Xylene. These BTX aromatic hydrocarbons are mainly produced from RPG’s (Raw Pyrolysis Gasoline) double hydrogenation. The BTX market is predicted to accumulate worth USD 274.78 billion by 2027, with registering a CAGR of 5.9% through the projection time frame.
Key participants include BASF SE, Dow DuPont, ExxonMobil Corporation, China National Petroleum Corporation, Royal Dutch Shell PLC, Borealis AG, Covestro AG, Saudi Basic Industries Corporation, Mitsubishi Gas Chemical Company, Inc., and Reliance Industries Limited, among others.
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Market Drivers
BTX is widely used in different applications of end-use industries. The rapid expansion of the paints & coatings, fuel additives, foams, cleaning agent, and polymeric applications are triggering demand for BTX, thus, propelling the market. Additionally, BTX also finds its enormous applications as a chemical intermediate/solvent in different manufacturing processes, including surfactants, plastics, adhesives, rubber, explosives, detergent, drugs, lubricants, and pesticides. Therefore, such widespread applications are considered for promoting the market growth. Furthermore, increasing penetration of online retailing businesses for different materials and chemicals worldwide and soaring demand for BTX in distinct commercial applications are also contributing substantially to the growth of the market.
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The study also analyses the crucial market aspects, including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and the growth pattern on both regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends.
By Type (Revenue, USD Million; Volume in Tons, 2017–2027)
By Application Type (Revenue, USD Million; Volume in Tons, 2017–2027)
The Global BTX Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing. The report utilizes advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.
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Key Coverage of the BTX Market:
Regional Analysis
Asia Pacific is the leading region in the market and is projected to continue its dominance by contributing to 40.9% of the market share by 2027, with a stellar CAGR of 7.0% over the estimated period. Factors such as elevating demand for PET synthetic fibers, growing need for styrene, phenol, gasoline in different industries, and high growth in the chemical synthesizing and processing, especially in Indian and China’s sub-continental countries are positively impacting growth of the market in this region. Other regions like Europe is also projected to record significant growth for being world leader in chemical production.
Market Segmentation by Regions:
To summarize everything stated above, the report offers key insights into the BTX market to allow the reader to gain a complete understanding of the Global BTX Market through accurate estimations, a panoramic view of the market scenario, competitive landscape, factors influencing the growth of the market, driving factors, restraints, regulatory framework, growth prospects and opportunities, and factors propelling the market forward. The research study offers an in-depth view of the industry to offer a competitive edge to the reader and help them in formulating beneficial investment plans. The report provides a comprehensive overview of the market with facts relating to the past, present, and future of the Global BTX Market.
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