Cumene Market Overview:
Global Cumene Market was valued at $16,330 million in 2015, and is expected to reach $25,089 million by 2022, supported by a CAGR of 6.5% during the forecast period 2016 to 2022. Cumene in chemical form is known as isopropyl benzene, an organic compound based on aromatic hydrocarbons with aliphatic substitution. It is a flammable and colorless liquid with high boiling points of around 152°C, and is a constituent of crude oil and refined fuels. Industrially, cumene is manufactured by Friedel Crafts alkylation method. It is converted into an intermediate known as cumene hydroperoxide for further applications.
The global cumene market is segmented based on application and geography. On the basis of application, it is classified into phenol/acetone and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Cumene Industry Segmentation
Top Investment Pockets, By Country
The phenol/acetone segment offers maximum market potential in the market, owing to increase in demand for phenolic resins & bisphenol-A, and rise in the consumption of acetone and its derivatives. Moreover, increase in use of cumene in adhesives and sealant chemicals fuels the market growth. In addition, increase in inclination of consumers toward high octane production fuels and growth in paints & coatings industry are some major factors anticipated to boost the market growth. The use of cumene in paints & enamels has witnessed major developments, owing to constant growth in per capita disposable income and rise in demand for polycarbonates. The phenol/acetone segment is expected to register a CAGR of 6.5% during the forecast period. However, rise in concerns related to the health hazards associated with the toxic effects is expected to affect the overall market growth in the developed and the developing countries, but investments in R&D activities are expected to provide opportunities for growth in the future.
Cumene Market Top Investment Pockets
In terms of volume, the phenol/acetone segment dominated the global market in 2014, and is anticipated to maintain its dominance throughout the forecast period, growing at a CAGR of 4.7%.
Asia-Pacific accounted for more than 45% share of the total revenue in 2015, followed by Europe and North America. The developing countries in Asia-Pacific are anticipated to register steady growth rates, owing to increase in growth of the overall economy. Moreover, rise in investments by key manufacturers is another key aspect that fuels the market growth.
Korea Cumene Market Revenue, 2014-2022 ($Million)
Key players have economically made high capital investments in R&D activities to develop advanced products to cater to the requirements of the market. These players operating in the industry include Royal Dutch Shell Plc., Exxon Mobil Corporation, Total S.A., BP Plc., Sumitomo Chemical Co., Axiall Corporation, SABIC, BASF SE, The Dow Chemical Company, and JX Nippon Oil.
The other players in the value chain (profiles not included in the report) include CPCC, KMG Chemicals, CNPC, Chang Chun Plastics Co. LTD., KenolKobil, Formosa Plastics Group, Taiwan Cement Corporation, China Petrochemical Development Corporation, Georgia Gulf Corporation, Ineos Group Limited, Koch Industries, Petroleos de Venezuela S.A. Mitsui & Co. LTd., CEPSA, Eni Spa, Sunoco, Aramco Services Company, Domo Investment Group, Flint Hills Resources LP, and Guangzhou VA-SO Plastics Co., Ltd.
Key Benefits of Cumene Market:
- The report provides extensive qualitative and quantitative analyses of the current trends and future estimations of the global cumene market from 2014 to 2022 to determine the prevailing opportunities.
- It offers comprehensive analysis of key regions, such as North America, Europe, Asia-Pacific, and LAMEA, to understand the regional trends.
- In-depth analysis of factors that drive and restrict the growth of the market is provided.
- Extensive analysis is conducted by following key product benchmarking, positioning, and monitoring the top competitors within the global market.
- It offers key insights on strategic analysis of various companies and the value chain analysis of cumene.
Cumene Market Key Segments
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA