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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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
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 2022-2027. Our report has categorized the market based on manufacturing process, application and end use industry.
Breakup by Manufacturing Process:
Breakup by Application:
Breakup by End Use Industry:
Breakup by Region:
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).
|Base Year of the Analysis||2021|
|Segment Coverage||Manufacturing Process, Application, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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)|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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