Launch apps instantly. Claim $200 credits on DigitalOcean
Written by elijah001 » Updated on: May 08th, 2024
The latest report by IMARC, titled "Paraxylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of Paraxylene prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Paraxylene Prices December 2023:
Report Offering:
The study delves into the factors affecting Paraxylene price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Paraxylene Price Trend- Q4 2023
The Paraxylene market is being propelled by a confluence of factors, driving its growth trajectory. The burgeoning demand for PET (polyethylene terephthalate) resin, primarily utilized in the production of bottles and packaging materials, continues to surge globally, fostering an increased requirement for Paraxylene, a key precursor in PET manufacturing. Furthermore, the expanding textile industry, particularly in emerging economies, fuels the demand for polyester fibers, further augmenting the need for Paraxylene as a raw material. Additionally, the growing disposable income levels and urbanization in developing regions are escalating the consumption of polyester products, thereby bolstering the Paraxylene market. Technological advancements in Paraxylene production processes, such as catalytic reforming and crystallization, are also enhancing efficiency and driving market growth.
The global paraxylene market size reached US$ 49.7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 78.6 Billion, at a projected CAGR of 5.10% during 2023-2032. The fourth quarter of 2023 marked a bearish trend for Paraxylene in the North American region. With supply levels ranging from moderate to high, prices experienced a decline attributed to reduced demand from downstream industries like PET Bottle and PTA. October witnessed a sluggish demand, influenced by the decrease in crude oil prices in the US, coupled with ample inventories adequately meeting domestic demand throughout October and November. Concurrently, the manufacturing sector in the United States faced deeper contraction in December, primarily driven by declining new orders, reflecting weakened client demand amidst increased global economic uncertainty. External demand conditions also weakened, with new export orders contracting, albeit at a fractional pace of decline.
The Paraxylene market in the APAC region experienced a bearish trend during the fourth quarter of 2023, predominantly influenced by uncertain naphtha prices in the Asia market. While the downstream market remained relatively stable with moderate supply and demand, market sentiment varied across regions. The Japanese market saw sustained decline in new orders, attributed to domestic economic weaknesses and slower overseas demand. Despite this, manufacturers increased employment levels and purchasing activities, indicating preparations for increased output. The European Paraxylene market encountered weak demand in the fourth quarter of 2023, primarily due to decreased demand from downstream bottling and packaging industries. Low-cost import offers from the Asian market further impacted the market, alongside sluggish conditions and declining crude oil prices. The decline in Paraxylene prices was mainly attributed to weak feedstock prices and subdued downstream demand. Manufacturers in the Eurozone reduced workforce numbers in December as they adjusted to lower capacity utilization, while surplus availability of the product and reduced demand extended delivery schedules. Despite slower declines in new work from abroad, subdued demand across European markets contributed to the overall bearish trend in Paraxylene prices in Europe during the fourth quarter of 2023.
Browse Full Report: https://www.imarcgroup.com/paraxylene-pricing-report
Key Points Covered in the Paraxylene Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
Regional Price Analysis:
Browse More Pricing Reports By IMARC Group:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
About Us:
IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
Copyright © 2024 IndiBlogHub.com Hosted on Digital Ocean
Post a Comment
To leave a comment, please Login or Register