Benzene toluene xylene (BTX) is a co-product which is derived in the process of synthesizing ethylene. Both ethylene and BTX are aromatic compounds. i.e., they have a benzene ring in their chemical structure. Benzene toluene xylene. is an important component of all the petrochemical products and is widely used in manufacturing other. chemicals and as chemical catalysts. It is also used in the production and synthesis of paints, thinner, ink, pharmaceutical products, cosmetics and well as in the manufacturing of natural rubber products. BTX is naturally present in gasoline. However, for the past few years, it has been in additionally employed as an additive in gasoline.
Applications Of Benzene Toluene Xylene And Its Market
The Benzene toluene market can be classified into the process of synthesis. Companies manufacture BTX by employing catalytic reforming. Hydrodealkylation, Steam Cracking, or through treating Coke Oven Light Oil. The feedstock of Benzene Toluene Xylene market is derived either from Crude Oil, Naphtha, natural gas, coal, or through the derivative of ethylene. BTX has various other different industry-friendly. derivatives such as Aniline, Toluene, Benzene, Ethylbenzene, Xylene, stable solvents. Toluene diisocyanate, cumene and many more. The BTX market is observed to cater to various solvents, pharmaceuticals, pesticides, resins, dyes, and chemical industries. The chemical is used in the manufacturing of corrosion inhibitors, diluents and in binding agents.
The market of Benzene Toluene Xylene is growing at an alarmingly high rate as the rate and share of investment in the chemical industry in the developing countries is increasing many folds. Experts have also sighted. A recovery in the BTX’s global market and predict a steep increase in the market growth in the coming years. For petrochemical industrialists, the sourcing cost of the feedstock is most expensive and straining on the pocket. Feedstock procurement contributes to a significant share of cost for the manufacturer of Benzene Toluene Xylene.
The process of ‘catalytic reforming’ constitutes the main source for almost all aromatic compounds (including BTX) and is employed. By more than half of the global manufacturers in the production of BTX. The popularity of this process of deriving BTX is followed by that of ‘steam cracking’ of the substance. Naphtha in petrochemical industries. However, the process of Coke-Oven Light Oil (COCO) is a trending method of deriving BTX amongst industrialists.
The market of Benzene Toluene Xylene is growing at a rapid rate in the Asia Pacific region. In this region, it finds application in the manufacturing of rubber, leather as well as textiles. Major global manufacturers are switching their BTX production base from across the world to the APAC regions in order to capitalize on their labor costs.
And be an active competitor in the fast growing APAC BTX market. The BTX market owes its growth and expansion also because it is being actively used in high-end automobiles and engines. The developing economies of the Asia Pacific region are foreseeing extensive development in the automotive and construction industry and are making use of Benzene Toluene Xylene to a great extent.
The industries are further fueling the growth of SBR (Styrene Butadiene Rubber) and polycarbonates. That most extensively use Benzene Toluene Xylene in their synthesis processes. This is also indirectly increasing the demand and supply of BTX chemical.
Major players in the benzene toluene xylene market include Eastman Chemical Company, BASF SE, Huntsman Corporation, INEOS AG, Oil Refineries Ltd., Royal Dutch Shell Plc. , Exxon Mobil Corporation and LyondellBasell Industries N.V. to name a few.
Market Challenge for Benzene Toluene Xylene- An Environmental Study
Benzene Toluene Xylene is categorized as a Volatile Organic Compound. (VOC) and is commonly used in the solvent industry. BTX is known for causing a variety of health disorders and its manufacturing and usage. is thus stringently checked by governments. Strict government regulations on the release of VOC emissions is why some industrialists are opting for alternatives of benzene toluene xylene in their operations. For example, CNOOC Ningbo Daxie Petrochemical of China is expected to commission a paraxylene plant. Which will carry out functions of BXT using BXT’s chemical alternatives.
In North America, the raw material used for the production of BXT is available in abundance and at cheap rates. As the American industrialists make use of shale gas reserves to derive it. This augments the growth and development in the American BXT industry.
The price of Benzene Toluene Xylene is strongly affected by the price of crude oil since it is the source for the primary feedstock of BTX. The market dynamics of BTX is further governed by technological developments and governmental policies. Growing use of cosmetics, rubber derivatives and technological upgradations is expected to have a lasting effect on the global market players and their trading strategies.