This Bio Based Paraxylene market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Bio Based Paraxylene market.
In recent years, the global market has shown a strong acceptance for bio-based chemicals and materials in the light of growing considerations over sustainability. Paraxylene is an aromatic hydrocarbon compound, derived from benzene, and is colorless, toxic, highly flammable and hazardous in nature. Owing to its pernicious properties, various government and environmental organizations have enforced regulations for the development of 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 these raw material is that they 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. Over the past few years, plastic based on certain amount of renewable material is being used extensively. Bio-PX also helps to meet sustainability goals, and it reduces the greenhouse gas emission up to 70% when compared with petrochemical paraxylene.
Global Bio Based Paraxylene Market: Market Dynamics
Rising awareness regarding petrochemical products usage and increasing environmental concern and increasing demand of bio based products & substitutes for conventional products are some of the factors expected to drive the bio based paraxylene market. Steady PTA demand in polyester applications and consumption in packaging is also expected to positively attribute towards the growth of bio based paraxylene. 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. The rising demand for bio plastics PET resin (Bio-PET) for soft drink and mineral water bottles is expected to boost the bio based Paraxylene market. Key consumers of PET are found to have been partnering with key renewable chemical firms for constant supply of bio-based resin. In sync with increasing shift towards the utilization of bio based materials and chemicals, companies such as Nestlé SA and Coca-Cola Co. are working with their venture companies for production of 100% bio-based bottle.
Moreover, volatile prices of crude oil, a key raw material for paraxylene, over past few years, has fueled the world demand for using naturally occurring, renewable resources. Increasing demand for bio based paraxylene in the market owing to increasing application for various purpose such as, PET bottles, is expected to create immense opportunities for the growth of market and emergence of new players. However, owing to complicated manufacturing process associated with the bio based paraxylene and technological limitations is acting as a constraining factor for expansion of market.
Global Bio Based Paraxylene Market: Regional Outlook
North America is expected to have significant share in the bio based paraxylene market with a lot of investment in research and development for bio based products. Europe is expected to show a great potential for bio based paraxylene market to grow. Stringent REACH regulation in European countries for manufacturing and burning of petrochemicals may contribute to the positive growth of the market. Asia pacific, being the key consumer of petrochemical paraxylene, in sync with the shift towards green technology is expected to witness above average growth in recent years for bio-based PX. Increasing investment for renewable chemicals in Japanese chemical firms is expected to give positive outlook for the market.
Global Bio Based Paraxylene Market: Key Participants
Examples of some of the market participants operating in the global bio based paraxylene market include Virent, Inc., Renmatix, Inc. Anellotech, Inc., Origin Materials, GEVO, Avantium, BASF SE, Toray Industries, Inc. and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends and Issues and Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest Of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Bio Based Paraxylene Market: Market Segmentation
On the basis of application bio based paraxylene market can be segmented as:
- Bio- terephthalic acid (Bio-TPA)
- Bio-based polyethylene terephthalate (Bio-PET)
- Polytrimethylene terephthalate (PTT)
- Polybutylene terephthalate (PBT)
On the basis of end use bio based paraxylene market can be segmented as:
- Food and Beverage
- Other Plastic applications, etc.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Frequently Asked Questions
What research methodology is used to develop the Bio Based Paraxylene Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Bio Based Paraxylene Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Bio Based Paraxylene Market report?
In addition to up-to-date market figures and customized of the Bio Based Paraxylene Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.