Cumene Market Segmented by Regions, Types and Applications with Forecast Report from 2020 – 2025

Posted on 2020-12-01 by researchinsights in Food & Beverage // 0 Comments

Felton, Calif., USA, Dec. 01, 2020 — /EPR Network/ —

Global Cumene Market is expected to reach USD 28.2 billion by 2025. Cumene is also termed as is opropyl benzene, 1-methylethyl benzene, or 2-phenylpropane, is an organic compound with a molecular formula C9H12 and molecular weight 120.195 g/mol. It is volatile liquid and colorless with a gasoline like odor and may be used as a combination constituent in gasoline. It is a natural constituent of crude oil and coal tar. It is exclusively used for manufacturing Acetone and Phenol, two chemicals that are exclusively used to make plastics. The cumene market is estimated to grow at a significant CAGR of 4.6 % over the forecast period as the scope and its applications are rising enormously across the globe.

Increasing demand for acetone and phenol in several end use industries and environmental policy registered with VAM in developing countries are documented as major factors of cumene industry that are estimated to enhance the growth in the years to come. However, hazardous effects of Cumene on health may restrict overall market growth in the coming years. Cumene market is segmented based on product type, applications, and region.

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Production Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 – 2025)

Zeolite
Solid Phosphoric Acid
Aluminum Chloride

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 – 2025)

Phenol
Phenol resins
Caprolactam
Bisphenol A
Alkyl phenols
Others
Acetone
Solvent use
Methyl Methacrylate
Bisphenol A
Aldol chemicals
Others
Others

The key players of cumene market are Dow Chemical Company, ExxonMobil, Saudi Basic Industries Corporation, BASF SE, Sinopec Group Ltd., China Petroleum & Chemical Corporation, and Total S.A. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

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Globally, Asia Pacific accounted for the substantial market share of Cumene and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be high demand from developing countries like China, Indonesia, and India, high demand for acetone and phenol, and developing construction and automotive companies in the region. Instead, Europe is also estimated to have a positive influence on the future growth.

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