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 size. 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 is colorless with a sweet, fruity odor. It is commonly used as an intermediate in the production of other chemicals, such as acetone and phenol. It is oxidized to form cumene hydroperoxide, which is then treated with acid to produce phenol and acetone. It is also used as a solvent in the manufacturing of various products, including paints, coatings, and printing inks. In addition, it is employed as a fuel additive to improve the performance of gasoline. Consequently, cumene finds extensive applications across chemical, petrochemical, plastic, and oil and gas industries.
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Market Trends:
The market is primarily driven by the expanding plastic industry across the globe. In addition, the rising adoption of acetone as an industrial solvent represents another major growth-inducing factor. Besides this, cumene is used to produce acrylic sheets, laminates, and composites that are used across the construction, automotive, and medical industries. This, coupled with the introduction of food-grade cumene for producing polycarbonate plastic-based containers and bottles, is contributing to market growth. Moreover, rapid industrialization, the adoption of advanced technologies to produce cumene, and the increasing consumer demand for high-octane cumene derivatives are some of the other factors creating a favorable market outlook across the globe.
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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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