PET bottles are commonly used to package water, sodas, salad dressings, juices, peanut butter, cooking oil, liquid hand soaps, shampoos, mouthwashes, and several pharmaceutical formulations. Short for polyethylene terephthalate, PET is a kind of polyester that is made by polymerizing terephthalic acid (TPA) or dimethyl terephthalate (DMT). These two materials are themselves made from paraxylene, which is one of the three isomers of dimethylbenzene, also known as xylene.
Thus, with the demand for PET containers rising around the world, P&S Intelligence expects the paraxylene market to also witness significant expansion in the near future. Apart from the production of TPA and DMT for PET manufacturing, paraxylene is used to create X-ray films, photographic films, magnetic tapes, and electrical insulation. In this regard, the increasing volume of X-rays is driving the demand for the base chemical. Due to genetic factors, injuries, and age, a rising number of people are suffering from bone-related issues, for which X-rays are widely utilized.
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However, the increasing usage of PET, PTA, and DMT have led to widespread environmental concerns, as being of a hydrocarbon nature, they are not biodegradable. With plastic recycling efforts yet to reach the desired levels, most of the discarded plastic is just left to rot in the open, stuffed in landfills, or burnt. As a result, the focus is rapidly shifting toward bio-based plastics, with numerous companies across industries taking initiatives to come up with such materials.
Thus, as a result of the growing packaging and textile industries, Asia-Pacific (APAC) is the most-productive paraxylene market presently, and it is projected to continue being so in the years to come. With more people shifting to cities and witnessing an increase in their disposable income, they are purchasing clothes and apparel in high volumes, which is driving the demand for the chemical in the textile industry. Moreover, the expanding pharmaceutical, personal care, and food and beverage industries are propelling the demand for packaging materials, especially PET and other plastics.
Therefore, as the demand for PET rises for the production of textiles and bottles, so will the consumption of paraxylene, as it is the key raw material for the production of this commonly used plastic.
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