According to IMARC Group latest report titled” Cumene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global cumene market size to grow at a CAGR of around 5% during 2021-2026. Cumene, also known as isopropyl benzene, represents a flammable organic compound derived from the aliphatic substitution of aromatic hydrocarbons. It is an essential component in the manufacturing of refined crude oil and fuels. Cumene is utilized as a chemical base to produce cumene hydroperoxide, phenol, and acetone, which are further used to make plastics. It is also adopted in the production of several petroleum-based products, including thinners, additives, enamels, lacquers, adhesives, etc. As a result, cumene finds extensive applications across numerous industries, such as chemical, petrochemical, plastic, oil, and gas, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The expanding plastic industry across the globe is one of the significant factors driving the cumene market. Furthermore, the increasing adoption of acetone as an industrial solvent is also propelling the market growth. Acetone is commonly utilized as a by-product of cumene and used in the manufacturing of bisphenol A (BPA) and methyl methacrylate (MMA) in various pharmaceutical and cosmetic products. Besides this, the growing demand for cumene from the construction, automotive, and medical sectors, such as in laminates and composites, is further augmenting the global market. Additionally, numerous product innovations, including the development of food-grade cumene for polycarbonate plastic-based containers and bottles, are anticipated to further propel the cumene market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- 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:
- Paints and Enamels
- High-octane Aviation Fuels
Breakup by End Use Industry:
- Plastics Industry
- Automotive Industry
- Chemical Industry
- Paint Industry
- Rubber Industry
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 (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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