India Ortho-Xylene Market Size Expands at 5.72% CAGR to Reach USD 266.5 Million by 2030

Published | 21 October 2024

India Ortho-Xylene Market is flourishing because of a rising demand for phthalic anhydride and for plasticizers.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India Ortho-Xylene Market size at USD 182.40 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects India Ortho-Xylene Market size to expand at a CAGR of 5.72% reaching a value of USD 266.5 million by 2030. The application of ortho-xylene in the production of various products, such as paints and adhesives, solvents, resins, and plastics, is one of the primary drivers for India Ortho-Xylene Market. The country's growing packaging and building & construction sectors are also expected to propel the market during the period in analysis.

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Opportunity - Expanding Aviation Sector of India

Aviation is one of the fastest growing sectors of India, with increasing investments from both public and private players. The Civil Aviation Minister of India has recently announced its plans to invest about USD 12 billion in airports across the country in the coming years. The India aviation sector has a strong demand for lube oil additives owing to their use for a variety of purposes, including corrosion prevention, metal protection, and lubricating moving parts. Although in small quantities, ortho-xylene is used to make lube oil additives. Therefore, the growing demand for lube oil additives in the aerospace sector in turn drives the demand for ortho-xylene, propelling its overall growth of India Ortho-Xylene Market.

Impact of Escalating Geopolitical Tensions on India Ortho-Xylene Market

The escalating geopolitical tensions could hinder the growth of India Ortho-Xylene Market. Economic, trade, and geopolitical tensions have a direct impact on the disruption of the global supply chain, which impacts the acquisition of raw materials required for the manufacturing of ortho-xylene. It causes delays and a scarcity of ortho-xylene on the market, which affects the operation of its main end-user industries as well, such as the paint and automotive sectors. The price of chemicals and oil also fluctuates as these tensions and disputes escalates. As ortho-xylene is produced through petrochemical processes, fluctuations in the price of crude oil or increases in the cost of manufacturing in oil-producing countries can have an impact on market pricing.

Phthalic Anhydride Is Leading Application Segment

The phthalic anhydride segment accounts for the largest market share of India Ortho-Xylene Market by application. Most of the ortho-xylene produced is used in the production of phthalic anhydride, which is used to manufacture PVC owing to its adaptability and versatility. Phthalic anhydride is widely used in various industries, including plastic, resin, agriculture fungicides, and amines, which drives the market segment.

South India Region Leads India Ortho-Xylene Market

South India dominates India ortho-xylene market owing to the high concentration of chemical and petrochemical production in the region, particularly in Tamil Nadu and Karnataka. The region is significantly flourishing in agrochemicals, specialty chemicals, and pharmaceuticals, which directly fuels the demand for ortho-xylene. Furthermore, South India’s favorable geographic location also plays an important role in its market growth as it provides access to major ports, which eases the imports and exports of raw materials and products.

Competitive Landscape

India Ortho-Xylene market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Reliance Industries Limited, BPCL, HPCL, GAIL (India) Limited, Indian Oil Corporation Limited, NOCIL, SRF Limited, Vinati Organics Limited, and Gujarat NRE Coke Limited.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in India Ortho-Xylene Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and India Ortho-Xylene Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Ortho-Xylene Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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