Xylene Prices

Xylene Prices December 2023

In December 2023, xylene prices in the United States reached 971 USD/MT, buoyed by increased demand from the polyester and packaging industries and stabilized manufacturing rates facing inventory challenges; however, the shift to bearish procurement rates in the next quarter prompted a price decline.

In December 2023, the price of xylene in Germany reached 852 USD/MT, rising during the third quarter due to tight supply and increased demand from consumer sectors, with further support from escalating production costs due to the limited availability of raw materials.

Xylene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Xylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of xylene pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of xylene at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of xylene price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing xylene price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Xylene Market Analysis

The global xylene market size reached 51.3 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 74.934 Million Tons, at a projected CAGR of 4.30% during 2023-2032.

• The augmenting demand for xylene is closely tied to the considerable growth in automotive, construction, and manufacturing sectors, where it is extensively used in paints, coatings, and adhesives.
• The shift towards lighter, more fuel-efficient vehicles has increased the use of high-performance plastics, which further drives the need for xylene-derived compounds.
• Technological advancements in xylene production methods have also enhanced efficiency and reduced environmental impact, aligning with the growing regulatory and consumer emphasis on sustainability.
• The expanding healthcare sector, with its rising need for hygienic and sterile packaging made from xylene derivatives, further drives market growth.
• The ongoing development of mixed xylene products, which offer tailored solutions for specific industry needs, is creating new market opportunities.
• As global textile and packaging industries expand, the demand for polyester products escalates, directly impacting xylene consumption. This is particularly evident in Asia-Pacific, where fast-growing economies like China and India are witnessing an increase in polyester production due to increasing consumer demand and industrial growth.
• Recycling processes are becoming more sophisticated and efficient, allowing industries to maintain an environmentally responsible profile while ensuring the availability of xylene for various applications.
• Companies are investing in research and development to create bio-based alternatives that meet the performance standards of traditional xylene while aligning with global sustainability goals.
• Xylene is part of the petrochemicals extracted during the refining process of shale gas, which has become more economically viable and widely practiced, particularly in regions like North America.
• Innovations in material science continually uncover new uses for xylene, capitalizing on its properties to improve product performance and durability in various industrial applications.
• Changes in tariffs, trade agreements, and international relations can affect global supply chains and pricing structures for xylene and its derivatives.
• The global printing industry, which uses xylene-based solvents in printing inks and cleaning solutions, continues to drive demand.
• Xylene is utilized in pharmaceutical applications, particularly in the purification and extraction processes of drugs due to its effective solvent properties.

Xylene News

The report covers the latest developments, updates, and trends impacting the global xylene market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in xylene production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the xylene price trend.

Latest developments in the xylene industry:

• June 2024: Covestro announced its strategic partnership with BioBTX, to support the construction of the world’s first demonstration plant for BioBTX's innovative chemical recycling technology in the Netherlands. This technology aims to convert organic and mixed plastic waste into essential chemicals like benzene, toluene, and xylene, which are crucial for the chemical industry. The demonstration plant is expected to process 20 kilotons of mixed plastic waste annually and is a significant step toward scaling the technology for industrial use. The plant is anticipated to be operational by early 2027, marking a pivotal development in sustainable chemical production and waste management.
• May 2024: Technip Energies, a global engineering and technology company, and Anellotech, a sustainable technology company, announced a collaboration to develop a new plastic recycling technology. The technology aims to convert non-recycled plastic waste into chemicals that can be used to produce new plastics. The process involves using Anellotech's Bio-TCat technology, which uses thermal catalytic conversion to break down plastic waste into basic chemicals like benzene, toluene, and xylenes. These chemicals can then be used as feedstock to produce new plastics, creating a circular economy for plastics.
• August 2024: India's Bharat Petroleum Corporation Limited (BPCL) has announced a significant investment plan of ₹1.7 trillion (approximately $20.3 billion) over the next five years. This initiative, known as 'Project Aspire', aims to enhance its refining and fuel marketing capabilities, as well as expand its petrochemical and green energy sectors. About 44% of the total investment will be directed towards refining and petrochemical capacity growth. The Bina refinery expansion project, expected to be commissioned in FY2028-29, will increase capacity by 41% to 11 million tonnes/year and include an ethylene cracker and downstream units producing 1.15 million tonnes/year of polyethylene, 550,000 tonnes/year of polypropylene, and 50,000 tonnes/year of butene-1. The Bina complex will also produce chemicals such as benzene, toluene, and xylene.

Product Description

Xylene is a flammable and volatile organic compound in a liquid form that has a sweet smell and is colorless. Chemically, it is a derivative of benzene, with two methyl groups attached to the benzene ring, and primarily exists in three isomeric forms: There are three types of xylenes, namely; ortho-xylene, meta-xylene, and para-xylene. These isomers vary like the methyl groups placed on the benzene ring; their characteristics and uses are also affected. Xylene is obtained through catalytic reforming and the process of coal carbonization to obtain coke fuel. Also, it may be obtained as a co-product of petroleum refining operations. Xylene is one of the most important solvents used in industries because it finds application in many of them.

The suitability of xylene in these uses is attributed to the fact that it is capable of dissolving other components and also volatiles more often with fewer deposits. Also, its use in diluting paints and washing paintbrushes testifies to its usage in production as well as art forms. Therefore, xylene’s versatility and efficiency as a solvent make the chemical invaluable in multiple industries and research.

Regional Coverage

The report provides a detailed analysis of the xylene market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the xylene price trend.

Global Xylene Price

The report offers a holistic view of the global xylene pricing trends in the form of xylene price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of xylene but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed xylene demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Xylene Price

In the European market region, the xylene price trends experienced similar volatility throughout 2023. Initially, the prices increased during the third quarter due to a tight supply chain and escalating demand from key consumer sectors such as automotive and construction, which rely heavily on xylene for manufacturing paints and coatings. Additionally, the increase in production costs, driven by a limited supply of raw materials, supported the price uptrend. However, as the year progressed into the last quarter, the economic landscape shifted. Rising inflation and higher interest rates adversely affected consumer confidence, leading to tepid demand for xylene across Europe. Concurrently, supply chain constraints began to ease, and inventory levels rose, contributing to a decrease in xylene prices.

This analysis can be extended to include detailed xylene price information for a comprehensive list of countries.

North America Xylene Price

In North America, the xylene market dynamics during the third quarter mirrored the positive trends observed in Europe and Asia, with prices benefiting from stabilized manufacturing rates. This stabilization was largely driven by increased demand from the downstream polyester and packaging industries, which heightened the overall market interest in xylene. Despite facing inventory losses due to ongoing supply chain constraints, the market maintained a positive price trajectory initially. However, the scenario shifted in the following quarter. Supply rates began to normalize as logistical and production bottlenecks eased, leading to increased availability of xylene in the market. This shift, combined with a change in procurement strategies that became more conservative—often described as bearish—led to a downward pressure on xylene prices.

Specific xylene historical data within the United States and Canada can also be provided.

Middle East and Africa Xylene Price

The report explores the xylene pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on xylene prices for countries can also be provided.

Asia Pacific Xylene Price

In the Asia Pacific region, the xylene market experienced a similar trajectory of fluctuations throughout the year. During the third quarter, the market saw an initial increase in xylene prices, largely due to supply constraints and weather-related disruptions which significantly depleted the inventories. The robust demand from key end-user industries, such as automotive, textiles, and construction, which use xylene for producing solvents and as a precursor for synthetic fibers, contributed to this price escalation. However, moving into the later months, the market dynamics turned bearish. The decline in xylene prices during the subsequent quarter was primarily driven by a significant reduction in new orders, coupled with diminished interest from international buyers. Additionally, the economic outlook in the region grew more pessimistic, reflecting broader global economic uncertainties and impacting industrial investment and consumption patterns.

This xylene price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Xylene Price

The analysis of xylene prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of xylene pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting xylene price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The xylene price charts ensure our clients remain at the forefront of the industry.