Cumene Market

Market Overview:

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, or isopropyl benzene, refers to an inflammable organic compound derived from the aliphatic substitution of aromatic hydrocarbons. It is a crucial component in the manufacturing of refined crude oil and fuels and is also used as a chemical base to produce cumene hydroperoxide, phenol and acetone. It is also utilized in the manufacturing of various petroleum-based products, such as thinners, additives, enamels, lacquers, adhesives, sealants and solvents in paints. As a result, it finds extensive applications across various industries, such as chemical, petrochemical, plastic and oil and gas.

Significant growth in the plastic industry across the globe is one of the key factors creating a positive outlook for the market. Furthermore, the widespread adoption of acetone as an industrial solvent is providing a thrust to the market growth. Acetone is a widely used as a by-product of cumene that is further used in the manufacturing of bisphenol A (BPA) and methyl methacrylate (MMA) in various pharmaceutical and cosmetic products. It is also a natural component of coal tar and crude oil and can be used as a blending component in gasoline. In line with this, cumene is also used to produce acrylic sheets, laminates and composites, which are extensively utilized in construction, automotive and medical applications. Additionally, various product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles, are contributing to the market growth. Other factors, including rapid industrialization, along with the increasing consumer demand for high octane cumene-derivatives, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cumene market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles 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 (Dow Inc.) and Versalis S.p.A. (Eni S.p.A).

Report Coverage: