Benzene-Toluene-Xylene (BTX) Market Outlook, Share To 2033

(MENAFN- Straits Research) Introduction

Toluene, benzene, and xylenes can all be produced in various methods. However, most BTX is produced in petroleum refineries by recovering aromatics from the catalytic reforming of naphtha. Typically, feedstock naphtha for catalytic reforming contains non-aromatic hydrocarbons with 6–12 carbon atoms. It naturally produces a reformate product that includes paraffin and heavier aromatics with 9–12 carbon atoms and C6–C8 aromatics (benzene, toluene, and xylenes). Another technique for producing BTX aromatics is steam cracking of hydrocarbons, which frequently results in a cracked naphtha product known as pyrolysis gasoline, pyrolysis gas, or pygas.

Market Dynamics Benzene and Toluene's Growing Significance in a Range of Chemical Applications Drives the Global Market

Benzene and toluene are the two primary components of BTX, together with Xylene. Benzoin is widely utilized in the chemical industry since it creates many compounds, including ethylbenzene, chlorobenzene, and others. These goods are subsequently used to produce essential products like cumene, styrene, and others. For instance, chlorobenzene bridges rubber, dyes, and pesticide production. The need for chlorobenzene will change as the rubber sector expands, and the demand for benzene will follow.

The demand for benzene has increased due to recent changes in the rubber industry. For instance, China approved two creative rubber projects in October 2020. The Petrochemical Research Institute of CNPC and Shandong Yulong Petrochemical Co. Ltd. formally exchanged signatures on the "Technical License Contract for TBIR and Integrated Rubber."

Xylene is a component of BTX. Xylene is the principal solvent, followed by monomers (mainly used in plastics and polymers). Manufacturing processes for rubber, leather, and printing all use their solvent-solid properties. Xylene is a lubricant and component of motor oil, paints and paint thinners, polishes, waxes, antifreeze, sealants, adhesives, and even gasoline and cigarettes. Some cleaners and glues both include Xylene. Xylene is the primary source of terephthalic acid and dimethyl terephthalate. Polyethylene terephthalate (PET), one of the engineering plastics, is primarily used for packaging in the food and beverage sectors.

PET is a perfect packaging material due to one or more of its qualities, such as portability, design flexibility, ease of cleaning, lightweight, and protection against moisture. The growth of the food and medical packaging industries is driving up demand for Xylene. The use of Xylene in paints and coatings is rising due to investments and innovations in this sector.

Regional Analysis

Asia-Pacific is the highest revenue contributor and is anticipated to expand at a CAGR of 4.10% during the projection period. The idea that China was the best and most feasible option for producing pharmaceuticals, particularly active medicinal components, quickly spread (APIs). Businesses wished to relocate their operations outside of the country. This can affect the market's demand for benzene, toluene, and Xylene throughout the anticipated term. As noted in the bar chart on the following side, China's share of global chemical exports will increase from 6.9% in 2016 to 7.8% in 2020, playing a vital role in the supply chain for the chemical industry. According to the China National Bureau of Statistics, more than 78 million metric tonnes of plastic products were produced across the country in 2020.

North America is expected to grow at a CAGR of 3.75% during the forecast period. The United States (U.S.) is the world's primary producer of chemical products. The sector's 13,000 businesses produce more than 70,000 products. However, in 2020 the chemical industry dropped -by 3.6%. It was projected that a 3.9% growth between 2020 and 2021 would compensate for the COVID-19 pandemic-related decline in the chemical industry's output volume in 2020. In 2020, the paints and coatings industry generated 1,337 million gallons of book volume; by 2022, this volume is expected to reach 1,416 million gallons. The nation's paint and coatings industry's demand for BTX will undoubtedly rise as a result.

Key Highlights

• The global benzene-toluene-xylene (BTX) market size was valued at 125.71 million
  kilotons in 2024 . It is projected to reach from 130.49 million kilotons
  by 2025 to 175.86 million kilotons
  by 2033 , growing at a CAGR of 3.8% during the forecast period (2025–2033).
• Based on type, the global benzene-toluene-xylene (BTX) market is bifurcated into benzene, toluene, and Xylene. The xylene segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.30% during the forecast period.
• Based on application, the global benzene-toluene-xylene (BTX) market is bifurcated into Benzene by Application (Ethylbenzene, Cyclohexane, Others), Toluene by Application (Paints and Coatings, Adhesives and Inks, Others), Xylene by Application (Solvent, Monomer, Others). The benzene segment is the highest contributor to the market and is estimated to grow at a CAGR of 3.40% during the forecast period.
• Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 4.10% during the forecast period.