Paraxylene is an aromatic hydrocarbon compound derived from benzene and is colorless, toxic, highly flammable, and hazardous. Owing to its pernicious properties, various government and environmental organizations have enforced regulations to develop bio-based paraxylene (Bio-PX). Bio-based paraxylene is made of renewable raw materials, such as glucose, starch, cellulose, and vegetable oils. The advantage of utilizing this raw material is that it can be processed in an existing recycling process and can be re-used. Bio-based paraxylene is increasingly being used in bio-based plastic PET bottles (Bio-PET) and other bio-based plastic applications.
MARKET DYNAMICS
The bio based paraxylene market has witnessed significant growth due to rising awareness regarding petrochemical products usage and increasing environmental concern. Moreover, increasing resin prices along with growing concerns regarding non disposable nature of petrochemical based PX has compelled manufacturers to focus on development of bio based paraxylene, key raw material for PET provides a huge market opportunity for the key players operating in the bio based paraxylene market. However, complex nature of the manufacturing process and the technological limitations is projected to hamper the overall growth of the bio based paraxylene market in the forecast period.
MARKET SCOPE
The "Global Bio Based Paraxylene Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the bio based paraxylene market with detailed market segmentation application, end user, and geography. The global bio based paraxylene market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading bio based paraxylene market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global bio based paraxylene market is segmented on the basis of application and end user. On the basis of application, the global bio based paraxylene market is divided into bio-based polyethylene terephthalate, polybutylene terephthalate, bio- terephthalic acid, polytrimethylene terephthalate, and others. On the basis of end user, the global bio based paraxylene market is divided into packaging, food and beverage, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global bio based paraxylene market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The bio based paraxylene market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the bio based paraxylene market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the bio based paraxylene market in these regions.
MARKET PLAYERS
The reports cover key developments in the bio based paraxylene market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as type launches, type approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from bio based paraxylene market is anticipated to lucrative growth opportunities in the future with the rising demand for bio based paraxylene in the global market. Below mentioned is the list of few companies engaged in the bio based paraxylene market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the bio based paraxylene market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Anellotech, Inc.
- Avantium
- BASF SE
- DSM
- GEVO
- Origin Materials
- Renmatix, Inc.
- Toray Industries,
- Virent, Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.