According to IMARC Group latest report titled “Cumene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on cumene market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global cumene market size reached US$ 20.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.
Cumene, also known as isopropylbenzene, is an organic compound that serves as a critical intermediate in the production of phenol and acetone. This colorless liquid is characterized by its high volatility and distinctive gasoline-like odor. It is produced on a large scale in the chemical industry through the alkylation of benzene with propylene. The process of production typically involves a catalytic reaction, which ensures efficiency and cost-effectiveness. Cumene's main properties include its solvency power and combustibility, making it a valuable solvent and component in the blending of gasoline. Its advantages include its role in creating other chemicals, especially phenol, which is a precursor to numerous polymers and resins, and acetone, which has applications ranging from cosmetics to solvents.
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Market Trends:
The global market is primarily driven by the robust demand for phenol and its derivatives being a primary catalyst. This is complemented by the increasing use of acetone in various industries, from adhesives to pharmaceuticals, enhancing the need for cumene. The market is further supported by the development of innovative production techniques that improve yield and reduce costs. The growing paints and coatings industry, which uses cumene-derived products, is also leading to market expansion. Additionally, continual advancements in the electronics industry, requiring pure and reliable solvents, are also bolstering the product demand. Moreover, the shift towards lighter and more efficient packaging solutions, using cumene-based polycarbonates, are impacting the market positively. The demand for cumene in the production of insulation materials are further contributing to the market's growth.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- BASF SE
- Borealis AG
- ExxonMobil Corporation
- INEOS Capital Limited
- LG Chem Ltd.
- Merck KGaA
- Royal Dutch Shell plc
- Saudi Basic Industries Corporation
- Sumitomo Chemical Co. Ltd
- The Dow Chemical Company
- Versalis S.p.A.
Cumene Market Segmentation:
Our report has categorized the market based on region, manufacturing process, application and end use industry.
Breakup by Manufacturing Process:
- Aluminum Chloride Catalyst
- Solid Phosphoric Acid (SPA) Catalyst
- Zeolite Catalyst
Breakup by Application:
- Phenol
- Acetone
- Paints and Enamels
- High-octane Aviation Fuels
- Others
Breakup by End Use Industry:
- Plastics Industry
- Automotive Industry
- Chemical Industry
- Paint Industry
- Rubber Industry
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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