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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Cumene Market Share by Region
The Asia Pacific to account for a substantial share of the market
The expansion of various industries, particularly plastic, and the multi-faceted application of cumene is accelerating the market growth of cumene in the Asia Pacific region. The increasing imports of petroleum and production of diverse petroleum products in countries such as China are leading to the market development of cumene.
Asian countries like China and India are some of the major consumers of the chemical due primarily to rapid industrialisation and the growth of several industries. These countries also have well-established industrial sectors and are witnessing further technological developments. Domestic manufacturers often engage in strategic partnerships, expansions, and research and development activities to enhance their market presence.
Moreover, the government initiatives towards boosting the production of chemicals such as cumene for providing raw materials to several end-use sectors, are driving the market growth. For instance, in March 2021, the Government of India announced that it is considering the construction of Nayara Energy, a petrochemical project to produce petrochemicals such as cumene, at Vadinar, Gujarat. Further, the plant expansions of cumene and its end products such as phenol by leading market players are expected to enhance the cumene market value in the forecast period.
Cumene Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 4.5% between 2024 and 2032.
The major industry drivers include growing utilisation of cumene in the production of phenol and acetone, rising demand for plastics, and the production of diverse petrochemical products.
The key industry trends guiding the market growth are increasing application of cumene in various end-use industries, government initiatives in boosting the production of cumene, and investments made by industry players in expanding the cumene production plants.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different market divisions, based on manufacturing process, include aluminum chloride catalyst, solid phosphoric acid (SPA) catalyst, and zeolite catalyst.
The various applications of the product are phenol, acetone, paints and enamels, and high-octane aviation fuels, among others.
The major market divisions, based on end use industry, include plastics industry, automotive industry, chemical industry, paint industry, and rubber industry, among others.
The major players in the industry are Braskem S.A., Lummus Technology, Domo Chemicals GmbH, Exxon Mobil Corporation, Borealis AG, Sumitomo Corporation, and ENEOS Holdings, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124