Quarterly Update on Global O-Xylene Market
For the Quarter Ending September 2020
Production rates of o-Xylene were lower in comparison to the previous quarter due to the waning production margins for aromatics. Since the arbitrage economic window was disrupted in the month of September, it hindered the supply of deep seas cargoes. However, strong fundamentals of the downstream products due to revival in the market sentiments of automotive and construction industry kept the demand for o-Xylene steady in the region. Analysts anticipate the demand to improve further in Southeast Asia with restocking activity ahead of the festive season in India.
Demand for feedstock o-Xylene in the European market remained dull in July but gradually improved till the end of quarter on improvement in offtakes from the automotive industry. The excess inventories of the product which panicked producers during the start of quarter could be seen gradually emptying towards the end. The sentiments were further supported by optimum operating rates at the downstream manufacturing units that helped in catering to sufficient supply. However, spot buying activities remained dull as influential buyers relied on contract volumes.
Demand for o-Xylene remained muted with series of shutdowns implemented in downstream plants under fears of Hurricane Laura. With construction industry witnessing gradual recovery as people increased home renovation activities amidst the home quarantine period, it kept the fundamentals of o-Xylene balanced till the end of the quarter. Moreover, sustained demand from the region’s paint and coating industry assisted in lifting the market prospects of o-Xylene in the current quarter.
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Company-wise installed capacity, production volume and plant operating efficiency is captured directly from manufacturers. Import and Export volume is captured from government sources and demand for O-Xylene is calculated considering the production, import, export and inventory-levels on the country and regional level markets.
O-Xylene price is correlated with the price trend of crude oil, demand-supply fundamentals, and with that of its derivative Phthalic Anhydride.
Basic details and information on financial performance of leading global players in the O-Xylene market is presented in a visually captivating manner. Expansion plans and the company’s strategy is also captured to understand the vision and mission of the company to help understand the areas where companies need to focus more.
News & Deals
Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.
ChemAnalyst gathers information through primary research surveys conducted with various O-Xylene manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.
Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global O-Xylene market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.
Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.
Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global O-Xylene market.
Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on weekly, monthly and yearly basis.
Finally, region-specific markets for O-Xylene are analyzed and region-wise demand pattern is tracked.
o-Xylene, also known as monocyclic Benzene, is a colorless, flammable aromatic hydrocarbon, constituting the second largest consumption share of the three isomers produced from mixed xylene. O-Xylene is mainly utilized for producing Phthalic Anhydride, which is a feedstock for phthalic plasticizers, highly desired as a raw material for alkyd resin paints in paints and coating industry. In addition, o-Xylene is used in the production of soya bean herbicides, polyethylene naphthalate, lubricant additives and several solvents. O-Xylene also follows the same production process as Paraxylene. It is extracted from the C8 stream produced of mixed Xylene that is manufactured from high catalytic reforming of Naphtha. The xylenes in the C8 stream are further passed through a splitter where the stream containing desired amount of the product is passed through distillation column to produce high distillation product.