Paraxylene Industry ,COVID19 impact on Industry and Outlook 2030
Paraxylene Market Overview The global market was valued at $ 36.1 billion in 2016, and it is expected to see a CAGR of 6% and reach 41 billion in the paraxylene market forecast for 2021–2030. According to the analysis of MRFR, the major market forces and trends driving the growth of the Paraxylene Industry includes increasing demand for various applications such as packaging, textile, and construction materials among others. Moreover, the increasing personal disposable income in developing economies throughout the globe has augmented the demand for polyester fibers which in turn is expected to fuel the growth of the global Para-Xylene Market during the forecast period. In addition, the growing demand for polyethylene terephthalate (PET) as a packaging material is further expected to affect the market positively. However, stringent government regulations regarding the use of Polyethylene terephthalate due to the non-biodegradable nature and harmful environmental effects in developed r