During the first half of 2023 (H1’23), o-Xylene prices experienced fluctuations in Asia. Initially, prices declined due to weak downstream demand and abundant supply. However, they saw an improvement following the lunar new year holidays, especially in China. Subsequently, the trend stabilized and eventually declined in the second quarter (Q2) as supply and demand reached a balance, resulting in an oversupply amidst bearish demand.
In Europe, prices remained steady throughout both quarters, thanks to consistent demand, a positive shift in market sentiment, and dwindling inventories. In North America, prices faced initial challenges in maintaining stability but eventually declined due to reduced manufacturing operation rates in response to weak demand from downstream sectors. Overall, the price trends in these regions were influenced by demand dynamics, supply levels, and market sentiment.
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o-Xylene, also known as ortho-xylene, is a colorless, aromatic hydrocarbon with the chemical formula C8H10. It is one of the three isomers of xylene, along with m-xylene and p-xylene. O-Xylene is produced during the refining of crude oil and is mainly used as a solvent in the manufacturing of paints, coatings, adhesives, and other chemical products. It is also utilized in the production of phthalic anhydride, a key component in the production of plasticizers and other chemicals. O-Xylene’s ability to dissolve various substances makes it valuable in numerous industrial applications.
Key Details About the o-Xylene Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the o-Xylene in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The o-Xylene Price trends, including India o-Xylene price, USA o-Xylene price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the o-Xylene Price Trend:
o-Xylene is extensively employed in various industrial applications thanks to its valuable attributes as both a solvent and a chemical feedstock. One of its foremost uses is as a solvent in the creation of paints, coatings, and adhesives. Moreover, it finds application as a cleaning agent and degreaser in diverse industrial processes. o-Xylene plays a pivotal role as a crucial raw material in the synthesis of phthalic anhydride, which is integral to the production of plasticizers used in plastics and resins manufacturing. Furthermore, it contributes to the production of dyes, pesticides, and perfumes. The versatility of o-Xylene, in its capacity to dissolve a wide array of substances and its role as a chemical intermediary, renders it indispensable across multiple industries.
- Royal Dutch Shell PLC
- Reliance Industries Limited
- China Petroleum and Chemical Corporation
- Excon Mobil Corporation
- Formosa Chemicals and Fibre Corporation
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