Cumene Market 2022: Industry Report, Value, Volume, Growth Drivers and Forecast by 2027

According to IMARC Group latest report titled “Cumene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, 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$ 19.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.6 Billion by 2027, exhibiting a growth rate (CAGR) of 4.6% during 2022-2027.

Cumene, or isopropyl benzene, represents an inflammable organic compound derived from aliphatic, aromatic hydrocarbons. It is a vital component in the manufacturing of fuels and refined crude oil and is also used as a chemical base to produce phenol, hydroperoxide, and acetone. Cumene is also used in making various petroleum-based products, such as enamels, thinners, lacquers, additives, adhesives, sealants, and solvents in paints. As a result, this compound finds widespread utilization across several sectors, including petrochemical, plastic, oil and gas, chemical, petrochemical, plastic, oil and gas, rubber, automotive, etc.

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Market Trends:

The escalating demand for acetone as an industrial solvent and in the production of methyl methacrylate (MMA) and bisphenol A (BPA) in various cosmetic and pharmaceutical items is among the primary factors driving the cumene market. Besides this, the growing product popularity in manufacturing laminates, acrylic sheets, and composites, which are utilized in automotive, construction, and medical applications, is further augmenting the market growth. Moreover, the development of food-grade cumene for polycarbonate plastic-based bottles and containers is also catalyzing the global market. Apart from this, the expanding plastic industry across the globe is acting as another significant growth-inducing factor. Additionally, this product is also utilized as a natural component of coal tar and crude oil and can be used as a blending element in gasoline, which is also stimulating the market growth. Furthermore, the emerging trend of industrialization and the increasing consumer preferences for high octane derivatives are expected to bolster the cumene market in the coming years.

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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 (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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