The global Cumene Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Cumene Market is expected to reach USD 28.2 billion by 2025. Cumene is also termed as is opropyl benzene, 1-methylethyl benzene, or 2-phenylpropane, is an organic compound with a molecular formula C9H12 and molecular weight 120.195 g/mol. It is volatile liquid and colorless with a gasoline like odor and may be used as a combination constituent in gasoline.
Key Players:
- Royal Dutch Shell plc
- Dow Chemical Company
- JX Holdings
- ExxonMobil Corporation
- BASF SE
- China Petroleum & Chemical Corporation
- Saudi Basic Industries Corporation
- Borealis
- INEOS Group
- Sinopec Group Ltd.
- Total S.A.
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Growth Drivers:
The cumene market is estimated to grow at a significant CAGR of 4.6 % over the forecast period as the scope and its applications are rising enormously across the globe. Increasing demand for acetone and phenol in several end use industries and environmental policy registered with VAM in developing countries are documented as major factors of cumene industry that are estimated to enhance the growth in the years to come. However, hazardous effects of Cumene on health may restrict overall market growth in the coming years. Cumene market is segmented based on product type, applications, and region.
Product Outlook:
- Zeolite
- Solid Phosphoric Acid
- Aluminum Chloride
Zeolite sector accounted for the substantial market share of Cumene and is estimated to continue its dominance in the coming years. Also, the sector is estimated to grow at highest CAGR in the coming years.
Application Outlook:
- Phenol
- Phenol resins
- Caprolactam
- Bisphenol A
- Alkyl phenols
- Acetone
- Solvent use
- Methyl Methacrylate
- Bisphenol A
- Aldol chemicals
Phenol sector accounted for the substantial market share of Cumene and is estimated to lead the overall market in the coming years. Derivatives of phenol includes alkyl phenols, phenol resins, bisphenolA, caprolactam, and others. Also, acetone sector is estimated to grow at fastest pace in the coming years. The derivatives of acetone are aldol chemicals, solvent use, bisphenolA, methyl methacrylate, and others.
Regional Outlook:
Globally, Asia Pacific accounted for the substantial market share of Cumene and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be high demand from developing countries like China, Indonesia, and India, high demand for acetone and phenol, and developing construction and automotive companies in the region. Instead, Europe is also estimated to have a positive influence on the future growth.
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