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Cumene Market Size, Share, Growth, Industry & Revenue [2031]
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Cumene Market Size, Share, Growth, Industry & Revenue [2031]

Segments - Cumene Market by Production (Aluminum Chloride Catalyst, Solid Phosphoric Acid (SPA) Catalyst, and Zeolite Catalyst) Application (Phenol, Acetone, Paints and Enamels, High-octane Aviation Fuels, and Other ) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Riddhesh Dani
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Upcoming | Report ID :MC-704 | 4.9 Rating | 76 Reviews | 185 Pages | Format : PDF Excel PPT

Report Description


Global Cumene Market Outlook 2031

The Global cumene market size was USD 20.23 Billion in 2022 and is expected to reach USD 29.55 Billion by 2031 with substantial CAGR 4.3% during the forecast period, 2023–2031. 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.

Cumene Market Outlook

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.

  • Global acetone and phenol production, directly involves cumene. The rising demand for acetone and phenol is expected to boost the cumene market during the forecast period.
  • Acetone has various properties; thereby, it is used in a wide range of applications such as production of methyl methacrylate (MMA) and as a solvent in the cosmetics and pharmaceutical industries.?
  • Furthermore, MMA is extensively used for manufacturing of PMMA resins that is being used in producing acrylic sheets in the construction industry. Other secondary applications include production of medical devices and automotive parts.
  • The rising expansion of pharmaceutical industry leading to demand for acetone is projected to propel the market growth of cumene in the near future.
  • The expanding cosmetic industry is raising the demand for acetone for its application as a solvent.
  • Increasing demand of acetone are setting up new facilities for production of phenol and acetone which is projected to spur the market expansion
  • Exposure to cumene can cause health hazards such as slight difficulty, skin irritation and headache; therefore, it is expected to impede the market growth during the forecast period.
  • R&D investment and technological advancement in cumene market are expected to offer lucrative opportunities for the market players.

Scope of The Cumene Market Report

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

2022

Historic Data

2016–2021

Forecast Period

2023–2031

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

Cumene Market Segment Insights

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.

Cumene Market Production

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.

Cumene Market Applications

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.

Cumene Market Regions

Segments


The cumene market has been segmented on the basis of:-

Production

  • Aluminum Chloride Catalyst
  • Solid Phosphoric Acid (SPA) Catalyst
  • Zeolite Catalyst

Applications

  • Phenol
  • Acetone
  • Paints and Enamels
  • High-octane Aviation Fuels

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • 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

Competitive Landscape

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.

Cumene Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cumene Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Cumene Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Cumene Market - Supply Chain
  4.5. Global Cumene Market Forecast
     4.5.1. Cumene Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Cumene Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Cumene Market Absolute $ Opportunity
5. Global Cumene Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Cumene Market Size and Volume Forecast by Applications
     5.3.1. Phenol
     5.3.2. Acetone
     5.3.3. Paints and Enamels
     5.3.4. High-octane Aviation Fuels
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Cumene Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Cumene Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Cumene Demand Share Forecast, 2019-2026
7. North America Cumene Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Cumene Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Cumene Market Size and Volume Forecast by Applications
     7.4.1. Phenol
     7.4.2. Acetone
     7.4.3. Paints and Enamels
     7.4.4. High-octane Aviation Fuels
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Cumene Demand Share Forecast, 2019-2026
8. Latin America Cumene Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Cumene Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Cumene Market Size and Volume Forecast by Applications
     8.4.1. Phenol
     8.4.2. Acetone
     8.4.3. Paints and Enamels
     8.4.4. High-octane Aviation Fuels
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Cumene Demand Share Forecast, 2019-2026
9. Europe Cumene Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Cumene Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Cumene Market Size and Volume Forecast by Applications
     9.4.1. Phenol
     9.4.2. Acetone
     9.4.3. Paints and Enamels
     9.4.4. High-octane Aviation Fuels
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Cumene Demand Share Forecast, 2019-2026
10. Asia Pacific Cumene Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Cumene Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Cumene Market Size and Volume Forecast by Applications
     10.4.1. Phenol
     10.4.2. Acetone
     10.4.3. Paints and Enamels
     10.4.4. High-octane Aviation Fuels
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Cumene Demand Share Forecast, 2019-2026
11. Middle East & Africa Cumene Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Cumene Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Cumene Market Size and Volume Forecast by Applications
     11.4.1. Phenol
     11.4.2. Acetone
     11.4.3. Paints and Enamels
     11.4.4. High-octane Aviation Fuels
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Cumene Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Cumene Market: Market Share Analysis
  12.2. Cumene Distributors and Customers
  12.3. Cumene Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Royal Dutch Shell
     12.4.2. Exxon Mobil
     12.4.3. Total
     12.4.4. BP
     12.4.5. Sumitomo Chemical

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