LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global paraxylene market report. This research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global paraxylene market is estimated to grow at a steady pace during the forecast period. It is presently experiencing an upcycle for producers. In recent years, the new capacity addition has not kept pace with the steadily increasing demand. Existing producers can easily capitalize in this environment by maximizing the production. The players in the global paraxylene market compete based on technology, trait leadership, price, quality, and cost. Many global and regional players operate in the market. It is highly competitive and dominated by large-scale vendors like Braskem, BP, Chevron Phillips Chemical, Exxon Mobil, and Reliance Industries. These players have vast geographical presence with numerous production facilities.
"There are a substantial number of small regional vendors with a considerable amount of market share. In addition to supplying chemicals, distributors cater to the smaller end-user segments and agents supply products in highly localized and regional markets," says Ajay Adhikari, a lead specialty chemicals research analyst from Technavio.
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Top five paraxylene market vendors
Braskem
Braskem is one of the leading producers of thermoplastic resins, including polyethylene, polypropylene, and polyvinyl chloride (PVC). It has grown to become one of the largest producers of propylene in the US and a major player in the international petrochemical market.
BP
BP operates globally as an integrated oil and gas company. It operates mainly through 2 segments: upstream and downstream. The upstream segment engages in the field development of oil and natural gas exploration, midstream, and transportation. It is also involved in the production and selling of natural gas, including liquefied natural gas (LNG) and natural gas liquid (NGL).
Chevron Phillips Chemical
Chevron Phillips Chemical is considered to be one of the top producers of olefins and polyolefins and also a leading supplier of alpha olefins, aromatics, piping, specialty chemicals, styrenics, and proprietary plastics. The company, as a producer of chemical products, helps in the manufacturing of more than 70,000 industrial and consumer products.
Exxon Mobil
Exxon Mobil is a global gas and oil exploration company and has its presence in 21 countries. It is one of the world's leading marketers and producers of bitumen. The company also specializes in a wide range of asphalt binders that meet industry requirements through a supply network.
Reliance Industries
Reliance Industries is involved in various activities such as hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail, and telecommunications. It is listed among the Fortune 500 companies and is one of the largest private sector corporations in India.
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