The cumene market is estimated to register a substantial CAGR of over 4% during the forecast period, 2021–2028. The growth of the market is attributed to its expanding demand in various applications such as composites, laminates and plastics.
Cumene also known asIsopropyl-benzene is an organic compound comprises of aromatic hydrocarbons with aliphatic substitution. It is a flammable, colourless liquid and is a component of crude oil and refined fuels with a boiling point of 152°C. Cumene is firm material but when comes in contact of air it shows little instability turning peroxides while storage. Furthermore, cumene is converted into hydro peroxide and used in several sectors.
The Covid-19 pandemic had an unpleasant impact on the cumene market. The production has been on halt and both the demand and supply ware affected. The market suffered significant loss; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
The report on the cumene market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Cumene Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Production (Aluminum Chloride Catalyst, Solid Phosphoric Acid (SPA) Catalyst, and Zeolite Catalyst) Application (Phenol, Acetone, Paints and Enamels, High-octane Aviation Fuels, and Other ) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Royal Dutch Shell, Exxon Mobil, Total, BP, Sumitomo Chemical, Westlake Chemical, SABIC, BASF, The Dow Chemical, JX Nippon Oil, CPCC, KMG Chemicals, CNPC, Chang Chun Plastics, KenolKobil, Formosa Plastics, Taiwan Cement |
The Aluminum Chloride Catalyst segment is projected to constitute a large market share
Based on production, the cumene market is segregated into aluminum chloride catalyst, solid phosphoric acid (SPA) catalyst, and zeolite catalyst. The aluminum chloride catalyst segment is expected to account for a key share of the market during the forecast period owing to its application and diversity.
Phenol segment is expected to register a substantial CAGR
Based on application, the cumene market is divided into phenol, acetone, paints and enamels, high-octane aviation fuels, and others. The phenol segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to significant properties and applications such as plastics, composites, laminates and other industries. However, acetone segment is projected to grow over the forecast period due to its feasible application in production of MMA.
Asia Pacific is expected to dominate the market
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to expand at a robust CAGR during the forecast period. The expanding construction and automotive industry along with technology advancement in this region are anticipated to boost the market growth over the coming years. Furthermore, it has accounted for more than 40% market share.
Segments Covered in the Report
The cumene market has been segmented on the basis of:-
Production
Applications
Regions
Key Companies
Key players competing in the cumene market include Royal Dutch Shell, Exxon Mobil, Total, BP, Sumitomo Chemical, Westlake Chemical, SABIC, BASF, The Dow Chemical, JX Nippon Oil, CPCC, KMG Chemicals, CNPC, Chang Chun Plastics, KenolKobil, Formosa Plastics and Taiwan Cement.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Segments Covered in the Report
The cumene market has been segmented on the basis of:-
Production
Applications
Regions
Key Companies
Key players competing in the cumene market include Royal Dutch Shell, Exxon Mobil, Total, BP, Sumitomo Chemical, Westlake Chemical, SABIC, BASF, The Dow Chemical, JX Nippon Oil, CPCC, KMG Chemicals, CNPC, Chang Chun Plastics, KenolKobil, Formosa Plastics and Taiwan Cement.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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