Change Language

Select Language

Global Cumene Market to Grow at 5% During 2021-2026, Propelled by Significant Growth in the Chemical Industry

Published on Nov 25, 2021

According to the latest report by IMARC Group, titled " Global Cumene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global cumene market exhibited moderate growth during 2015-2020. Cumene refers to an organic flammable and colorless liquid with an aromatic odor. It is generally derived from the distillation of coal tar and petroleum or via the reaction of benzene and propylene over an acid catalyst. It is widely utilized in the manufacturing of various chemicals, including acetone and phenol. Apart from this, it is also used as a solvent in the production of lacquers, paints, and enamels and a key component in the manufacturing of crude oil and fuels.    

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Cumene Market Trends:

The global market is primarily driven by significant growth in the chemical industry. Along with this, the increasing demand for acetone and phenol as an industrial solvent in the manufacturing of plastic product variants is providing an impetus to the market growth across the globe. Moreover, the widespread utilization of acetone across the pharmaceutical sector as an active ingredient and fillers in syrups is positively influencing the market growth. Furthermore, significant growth in the automotive sector has led to escalating demand for fuels, which is creating a positive outlook for the market across the globe. The market is further driven by the rising usage of cumene in the manufacturing of polycarbonate (PC) resins that are widely used in the production of electronic devices, such as smartphones and laptops. Some of the other factors contributing to the market growth include the increasing investments by key players to introduce improved product variants in the market and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 5% during 2021-2026.

Market Summary:

  • On the basis of the manufacturing process, the market has been classified into aluminum chloride catalyst, solid phosphoric acid (SPA) catalyst and zeolite catalyst.
  • Based on the application, the market has been categorized into phenol, acetone, paints and enamels, high-octane aviation fuels and others.
  • On the basis of the end use industry, the market has been segregated into plastics industry, automotive industry, chemical industry, paint industry, rubber industry and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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).

 

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.

Contact Us
IMARC Group

USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal

REACH OUT TO US

Call us on

( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91-120-433-0800 )


Drop us an email at

sales@imarcgroup.com