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Global Cumene Market Report by Manufacturing Process, Application, End Use Industry, and Region 2023-2028

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    Report

  • 146 Pages
  • November 2023
  • Region: Global
  • IMARC Group
  • ID: 5912117

Quick Summary:

In the dynamic and evolving petrochemical landscape, the global cumene market stands as a critical nexus for industries ranging from plastic manufacturing to aerospace. As an invaluable building block in the formulation of essential chemicals such as phenol and acetone, cumene's role transcends conventional applications, becoming a pivotal substance across various key sectors.

This comprehensive market research report delivers an in-depth exploration of cumene's burgeoning demand, tracing its impact through a myriad of industrial uses and unveiling the driving forces behind its sustained growth. With a keen eye on market segmentation, the report elucidates emerging trends, innovative applications, and the strategic positioning of leading industry players. Delve into this analysis to navigate the cumene market's complexities and unlock informed decision-making for strategic advantage.

The global cumene market size reached US$ 20.3 Billion in 2022. Looking forward, the market is expected to reach US$ 26.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.67% during 2022-2028.

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

This research 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. The 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

Breakup by End Use Industry:

  • Plastics Industry
  • Automotive Industry
  • Chemical Industry
  • Paint Industry
  • Rubber Industry

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Latin America
  • Brazil
  • Mexico
  • 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).

Key Questions Answered in This Report

1. What was the size of the global cumene market in 2022?
2. What is the expected growth rate of the global cumene market during 2023-2028?
3. What are the key factors driving the global cumene market?
4. What has been the impact of COVID-19 on the global cumene market?
5. What is the breakup of the global cumene market based on the manufacturing process?
6. What is the breakup of the global cumene market based on the application?
7. What is the breakup of the global cumene market based on the end use industry?
8. What are the key regions in the global cumene market?
9. Who are the key players/companies in the global cumene market?
Frequently Asked Questions about the Global Cumene Market

What is the estimated value of the Global Cumene Market?

The Global Cumene Market was estimated to be valued at $20.3 Billion in 2022.

What is the growth rate of the Global Cumene Market?

The growth rate of the Global Cumene Market is 4.7%, with an estimated value of $26.7 Billion by 2028.

What is the forecasted size of the Global Cumene Market?

The Global Cumene Market is estimated to be worth $26.7 Billion by 2028.

Who are the key companies in the Global Cumene Market?

Key companies in the Global Cumene Market include Accenture plc, Alstom SA, Bentley Systems Incorporated, Cisco Systems Inc., Cubic Corporation, General Electric Company, Indra Sistemas S.A., International Business Machines Corporation, Kapsch Aktiengesellschaft and Siemens AG.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Cumene Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Manufacturing Process
6.1 Aluminum Chloride Catalyst
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Solid Phosphoric Acid (SPA) Catalyst
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Zeolite Catalyst
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Phenol
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Acetone
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Paints and Enamels
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 High-octane Aviation Fuels
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by End Use Industry
8.1 Plastics Industry
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Automotive Industry
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Chemical Industry
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Paint Industry
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Rubber Industry
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 BASF SE
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Borealis AG
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 ExxonMobil Corporation
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 INEOS Capital Limited
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 SWOT Analysis
14.3.5 LG Chem Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Merck KGaA
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Royal Dutch Shell plc
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 SWOT Analysis
14.3.8 Saudi Basic Industries Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Sumitomo Chemical Co. Ltd
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 The Dow Chemical Company (Dow Inc.)
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Versalis S.p.A. (Eni S.p.A)
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 SWOT Analysis

Companies Mentioned

  • 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.)
  • Versalis S.p.A. (Eni S.p.A)

Methodology

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