[307 Pages Report] The cumene market is anticipated to register a CAGR of 5.4% during the period of 2022-2032. The cumene market is anticipated to reach US$ 42.7 Billion in 2032, from US$ 25.1 Billion in 2022. The market was valued at US$ 23.5 Billion in 2021, and is expected to grow with a Y-O-Y growth rate of 6.8%.
“Product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles are expected to extend profitable opportunities to the market players during the forecast period.”
| Attributes | Details |
|---|---|
| Cumene Market CAGR (2022 to 2032) | 5.4% |
| Cumene Market (2022) | US$ 25.1 Billion |
| Cumene Market (2032) | US$ 42.7 Billion |
Major factors that are expected to boost the growth of the cumene market in the forecast period are the rise in the demand for phenolic resins and bisphenol-A, and the increase in the consumption of acetone and its derivatives.
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Increased Utilization of Cumenes across Various Industries spurring Demand
The growing utilization of the cumenes for various applications is estimated to boost the market growth over forecast period. Major factors that are expected to boost the growth of the cumene market in the forecast period are the rise in the demand for phenolic resins and bisphenol-A, and the increase in the consumption of acetone and its derivatives.
Furthermore, the rise in the usage of cumene in adhesives and sealant chemicals and the upsurge in the preference for the consumers towards high octane production are further propelling the growth of the cumene market.
The factors such as increased industrialization and rising consumer demand for high-octane cumene derivatives, are expected to further propel the growth rate of cumene market. In addition, the expansion of the end use industries which are projected to bolster the growth of the market over the analysis period.
Product Innovations and Developments paving way for New Launches
The product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles are expected to extend profitable opportunities to the market players during the forecast period.
Moreover, the rise in the development for chemical manufacturing will further expand the future growth of the cumene market.
Negative Impact on Health
Humans may experience headaches, dizziness, drowsiness, minor incoordination, and unconsciousness as a result of acute (short-term) inhalation exposure to cumene. Cumene has a depressive effect on the central nervous system (CNS).
Cumene vapors may cause mild discomfort and redness in the eyes. Prolonged or repeated skin contact may cause slight irritation, with local redness, and drying or flaking of the skin. Excessive inhalation of cumene vapors may cause irritation of the nose, throat and upper respiratory tract.
If ingested or swallowed in small amounts, cumene has a low order of toxicity, meaning that health effects will likely be minimal or mild. When swallowed in larger amounts, cumene may cause gastrointestinal irritation, and may be aspirated during vomiting. These dangerous side effects on the human health will prove to be a demerit for the cumene market. Therefore, this factor will challenge the cumene market growth rate.
High Material Cost
An increase in the material cost is expected to put a mild restraint over the growth of the market in the next five years although, and is further responsible for the downfall of the cumene market during the forecast period.
Principal Consultant
Increasing Demand from Phenol Segment
One of the major applications of cumene is in the production of phenol. The liquid-phase oxidation of cumene with molecular oxygen forms cumene hydroperoxide, which is further decomposed into phenol and acetone using a catalyst. The oxidation process requires the use of purified cumene. The catalyst used to decompose cumene hydroperoxide into phenol and acetone is sulphuric acid.
Phenol plays a major role in many industries. Some of the common phenol applications include plywood, window glazing, DVDs and CDs, computers, sports equipment, fiberglass boats, automotive parts and accessories, circuit boards, and flat-panel televisions.
The largest single market for phenol is in the production of Bisphenol A (BPA), which is manufactured from phenol and acetone. BPA, in turn, is used in the manufacturing of epoxy and polycarbonate resins. Both polycarbonate and epoxy resins are used in many different sectors, making phenol a major component or application for the cumene market. Therefore, all the aforementioned factors are likely to significantly impact demand for the market studied.
Cumene Market:
| Attributes | Cumene Market |
|---|---|
| CAGR (2022 to 2032) | 5.4% |
| Market Value (2032) | US$ 47.7 Billion |
| Growth Factor | The product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles are expected to extend profitable opportunities to the market players during the forecast period. |
| Opportunity | The rise in the demand for phenolic resins and bisphenol-A is expected to boost the market growth. |
| Key Trends | The increase in the consumption of acetone and its derivatives to accelerate the market growth. |
Bisphenol – A Market:
| Attributes | Bisphenol – A Market |
|---|---|
| CAGR (2022 to 2032) | 7.8% |
| Market Value (2032) | US$ 37.5 Billion |
| Growth Factor | The market driver of the epoxy resin market is its high-quality performance in various industrial applications for thermal stability, corrosion protection, moisture resistivity mechanical strength, and adhesion. |
| Opportunity | Growing research and development efforts has been expected to create a huge opportunity for the market. |
| Key Trends | The demand for consumer goods, medical & dental devices, eyeglass lenses, dental sealants, and foundry castings has significantly increased the demand for polycarbonate in the manufacturing industry, which in turn is also expected to boost the market. |
Caprolactum Market:
| Attributes | Caprolactum Market |
|---|---|
| CAGR (2022 to 2032) | 3.5% |
| Market Value (2032) | US$ 24.5 Billion |
| Growth Factor | Need for lightweight automotive vehicles is expected to fuel the market growth. |
| Opportunity | The increasing demand for caprolactam in engineering plastics and films application is expected to drive the market for caprolactam. |
| Key Trends | The high growth of the caprolactam market is primarily due to the growing electrical & electronics and automotive industries. |
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Zeolite Cumenes to Register Maximum Growth in the Coming Decade
By production, zeolite segment is expected to hold the largest market share of 5.6%. There are several disadvantages of using aluminum chloride and solid phosphoric acid as catalysts for the production process of cumene such as high corrosion, environmental hazard and catalyst non-renewability. This has resulted growth in the use of Zeolite as catalysts for production.
Modern industrial processes employ the usage of zeolites as a catalyst for the production of cumene. Zeolites have various advantages over aluminum chloride. The use of zeolites helps to reduce the formation of olefin oligomers and polyalkylbenzenes, which thus enables attain a yield of 98%. The catalyst also enables to attain alkylation at lower pressure and temperatures.
Increased use of Phenol in Various Industries
By application, the phenol segment is expected to reach at the highest CAGR of 5.4%. This is attributed to increasing use phenol in various industries such as electrical & electronics, automotive, paints & coatings, cosmetics, and others. Furthermore, it is used as a solvent for paints, lacquers, and enamels, which find their uses in automotive and furniture.
The phenol resins derived using isopropyl benzene finds its usage in the home construction sector in the form of adhesives for structured wood panels, and in the production of mineral wool insulations as binders.
The Asia-Pacific region dominates the cumene market in terms of both consumption and production. The growing automotive industry in growing economies such as China, India, and South Korea. New product launches in consumer and cosmetics industry are expected to support the market growth for cumene market.
China accounts for more than one-fourth of the global coatings market presently. According to the China National Coatings Industry Association, the sector has been registering a growth of 7% in recent years. Since 2019, the construction of at least ten large coatings investment projects in China has been reported publicly. Nippon has been tapping into this market by upgrading its coatings production process across its new plants in China. ?
China is expected to represent the highest CAGR of 4.6% in the cumene market during the forecast period, to reach US$ 2.9 Billion. On the other hand, Japan is expected to represent the highest CAGR of 4.7% in the Cumene Market during the forecast period, to reach US$ 2.4 Billion.
In North America, growing technological advancement in the region is augmenting the market growth. Established automotive industry and rising demand for growing lightweight automobiles are other major factors that are driving the market for cumene market. The US is expected to represent the highest CAGR of 5.0% in the cumene market during the forecast period, to reach US$ 14.9 Billion.
Cumene Market in UK to Witness Better Growth Opportunities
Established automobile market in Europe is expected to support the market growth for cumene. The consumption of cumene market is also increasing in the region due to growing urbanization and growing disposable income among the consumers to drive the market growth.
Easy availability of raw materials such as natural gas and crude oil is further expected to augment the market growth of cumene.UK is expected to hold a significant position in the global cumene market, experiencing a CAGR of 4.4% during the forecast period, to reach US$ 1.9 Billion.
Braskem, Cepsa, Chang Chun Group, CITGO, Domo Chemicals, Dow, INEOS, Koch Industries Inc., Kumho P&B Chemicals Inc., Prasol Chemicals Pvt. Ltd., Royal Dutch Shell PLC., SABIC, and Versalis SpA, among others are the top companies in the global cumene market.
With a sizable cumene market share, these main firms are concentrating on growing their consumer base into new countries. These businesses are making use of strategic collaboration initiatives to grow their market share and profits.
Mid-size and smaller businesses, on the other hand, are expanding their market presence by gaining new contracts and entering new markets, thanks to technical developments and product innovations.
As of 2021, the market for cumene was valued at US$ 23.5 Billion, as per FMI
By 2022-end, sales of cumenes closed at a value of US$ 25.1 Billion
From 2015 to 2021, cumene demand expanded at a CAGR of 6.3%
From 2022 to 2032, cumene sales are expected to flourish at a CAGR of 5.4%
By 2032, the market value of cumene is expected to reach US$ 42.7 Billion.
From 2022 to 2032, cumene demand in the US is expected to surge at a CAGR of 5.0%
By production, the zeolite category constitutes the bulk of market share with a CAGR of 5.6%.
By application, the phenol category of cumene is expected to dominate the market with a CAGR of 5.4%.
1. Executive Summary 1.1. Global Market Outlook 1.2. Summary of Statistics 1.3. Key Market Characteristics & Attributes 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Risks and Trends Assessment 3.1. Risk Assessment 3.1.1. COVID-19 Crisis and Impact on Cumene Demand 3.1.2. COVID-19 Impact Benchmark with Previous Crisis 3.1.3. Impact on Market Value (US$ Mn) 3.1.4. Assessment by Key Countries 3.1.5. Assessment by Key Market Segments 3.1.6. Action Points and Recommendation for Suppliers 3.2. Key Trends Impacting the Market 3.3. Formulation and Product Development Trends 4. Market Background and Foundation Data Points 4.1. Global Cumene Market (US$ Mn) 4.2. Cumene Market Opportunity Assessment (US$ Mn) 4.2.1. Total Available Market 4.2.2. Serviceable Addressable Market 4.2.3. Serviceable Obtainable Market 4.3. Market Scenario Forecast 4.3.1. Demand in optimistic Scenario 4.3.2. Demand in Likely Scenario 4.3.3. Demand in Conservative Scenario 4.4. Investment Feasibility Analysis 4.4.1. Investment in Established Markets 4.4.1.1. In Short Term 4.4.1.2. In Long Term 4.4.2. Investment in Emerging Markets 4.4.2.1. In Short Term 4.4.2.2. In Long Term 4.5. Forecast Factors - Relevance & Impact 4.5.1. Top Companies Historical Growth 4.5.2. Global Cumene Market Growth 4.5.3. Cumene Adoption Rate, By Country 4.6. Market Dynamics 4.6.1. Market Driving Factors and Impact Assessment 4.6.2. Prominent Market Challenges and Impact Assessment 4.6.3. Cumene Market Opportunities 4.6.4. Prominent Trends in the Global Market & Their Impact Assessment 5. Key Success Factors 5.1. Manufacturers’ Focus on Low Penetration High Growth Markets 5.2. Banking on with Segments High Incremental Opportunity 5.3. Peer Benchmarking 6. Global Cumene Market Demand Analysis 2015-2021 and Forecast, 2022-2032 6.1. Historical Market Analysis, 2015-2021 6.2. Current and Future Market Projections, 2022-2032 6.3. Y-o-Y Growth Trend Analysis 7. Global Cumene Market Value Analysis 2015-2021 and Forecast, 2022-2032 7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021 7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global Cumene Market Analysis 2015-2021 and Forecast 2022-2032, By Production 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) Analysis By Production, 2015-2021 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Production, 2022-2032 8.3.1. Zeolite 8.3.2. Solid phosphoric acid 8.3.3. Aluminum chloride 8.4. Market Attractiveness Analysis By Production 9. Global Cumene Market Analysis 2015-2021 and Forecast 2022-2032, By Application 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) Analysis By Application, 2015-2021 9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Application, 2022-2032 9.3.1. Phenol 9.3.1.1. Phenol resins 9.3.1.2. Caprolactam 9.3.1.3. Bisphenol A 9.3.1.4. Alkylphenols 9.3.1.5. Others 9.3.2. Acetone 9.3.2.1. Solvent use 9.3.2.2. Methyl methacrylate 9.3.2.3. Bisphenol A 9.3.2.4. Aldol Chemicals 9.3.2.5. Others 9.3.3. Others 9.4. Market Attractiveness Analysis By Application 10. Global Cumene Market Analysis 2015-2021 and Forecast 2022-2032, By Region 10.1. Introduction 10.2. Historical Market Size (US$ Mn) Analysis By Region, 2015-2021 10.3. Current Market Size (US$ Mn) & Analysis and Forecast By Region, 2022-2032 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. Asia Pacific 10.3.5. Middle East and Africa (MEA) 10.4. Market Attractiveness Analysis By Region 11. North America Cumene Market Analysis 2015-2021 and Forecast 2022-2032 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 11.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 11.4.1. By Country 11.4.1.1. U.S. 11.4.1.2. Canada 11.4.1.3. Rest of North America 11.4.2. By Production 11.4.3. By Application 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Production 11.5.3. By Application 12. Latin America Cumene Market Analysis 2015-2021 and Forecast 2022-2032 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 12.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 12.4.1. By Country 12.4.1.1. Brazil 12.4.1.2. Mexico 12.4.1.3. Rest of Latin America 12.4.2. By Production 12.4.3. By Application 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Production 12.5.3. By Application 13. Europe Cumene Market Analysis 2015-2021 and Forecast 2022-2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 13.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 13.4.1. By Country 13.4.1.1. Germany 13.4.1.2. France 13.4.1.3. U.K. 13.4.1.4. Italy 13.4.1.5. Benelux 13.4.1.6. Nordic Countries 13.4.1.7. Rest of Europe 13.4.2. By Production 13.4.3. By Application 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Production 13.5.3. By Application 14. Asia Pacific Cumene Market Analysis 2015-2021 and Forecast 2022-2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 14.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 14.4.1. By Country 14.4.1.1. China 14.4.1.2. Japan 14.4.1.3. South Korea 14.4.1.4. Rest of Asia Pacific 14.4.2. By Production 14.4.3. By Application 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Production 14.5.3. By Application 15. Middle East and Africa Cumene Market Analysis 2015-2021 and Forecast 2022-2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 15.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 15.4.1. By Country 15.4.1.1. GCC Countries 15.4.1.2. South Africa 15.4.1.3. Turkey 15.4.1.4. Rest of Middle East and Africa 15.4.2. By Production 15.4.3. By Application 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Production 15.5.3. By Application 16. Key Countries Cumene Market Analysis 2015-2021 and Forecast 2022-2032 16.1. Introduction 16.1.1. Market Value Proportion Analysis, By Key Countries 16.1.2. Global Vs. Country Growth Comparison 16.2. US Cumene Market Analysis 16.2.1. Value Proportion Analysis by Market Taxonomy 16.2.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.2.2.1. By Production 16.2.2.2. By Application 16.3. Canada Cumene Market Analysis 16.3.1. Value Proportion Analysis by Market Taxonomy 16.3.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.3.2.1. By Production 16.3.2.2. By Application 16.4. Mexico Cumene Market Analysis 16.4.1. Value Proportion Analysis by Market Taxonomy 16.4.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.4.2.1. By Production 16.4.2.2. By Application 16.5. Brazil Cumene Market Analysis 16.5.1. Value Proportion Analysis by Market Taxonomy 16.5.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.5.2.1. By Production 16.5.2.2. By Application 16.6. Germany Cumene Market Analysis 16.6.1. Value Proportion Analysis by Market Taxonomy 16.6.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.6.2.1. By Production 16.6.2.2. By Application 16.7. France Cumene Market Analysis 16.7.1. Value Proportion Analysis by Market Taxonomy 16.7.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.7.2.1. By Production 16.7.2.2. By Application 16.8. Italy Cumene Market Analysis 16.8.1. Value Proportion Analysis by Market Taxonomy 16.8.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.8.2.1. By Production 16.8.2.2. By Application 16.9. BENELUX Cumene Market Analysis 16.9.1. Value Proportion Analysis by Market Taxonomy 16.9.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.9.2.1. By Production 16.9.2.2. By Application 16.10. UK Cumene Market Analysis 16.10.1. Value Proportion Analysis by Market Taxonomy 16.10.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.10.2.1. By Production 16.10.2.2. By Application 16.11. Nordic Countries Cumene Market Analysis 16.11.1. Value Proportion Analysis by Market Taxonomy 16.11.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.11.2.1. By Production 16.11.2.2. By Application 16.12. China Cumene Market Analysis 16.12.1. Value Proportion Analysis by Market Taxonomy 16.12.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.12.2.1. By Production 16.12.2.2. By Application 16.13. Japan Cumene Market Analysis 16.13.1. Value Proportion Analysis by Market Taxonomy 16.13.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.13.2.1. By Production 16.13.2.2. By Application 16.14. South Korea Cumene Market Analysis 16.14.1. Value Proportion Analysis by Market Taxonomy 16.14.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.14.2.1. By Production 16.14.2.2. By Application 16.15. GCC Countries Cumene Market Analysis 16.15.1. Value Proportion Analysis by Market Taxonomy 16.15.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.15.2.1. By Production 16.15.2.2. By Application 16.16. South Africa Cumene Market Analysis 16.16.1. Value Proportion Analysis by Market Taxonomy 16.16.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.16.2.1. By Production 16.16.2.2. By Application 16.17. Turkey Cumene Market Analysis 16.17.1. Value Proportion Analysis by Market Taxonomy 16.17.2. Value & Analysis and Forecast by Market Taxonomy, 2022-2032 16.17.2.1. By Production 16.17.2.2. By Application 16.17.3. Competition Landscape and Player Concentration in the Country 17. Market Structure Analysis 17.1. Market Analysis by Tier of Companies 17.2. Market Concentration 17.3. Market Share Analysis of Top Players 17.4. Market Presence Analysis 17.4.1. By Regional footprint of Players 17.4.2. Product footprint by Players 18. Competition Analysis 18.1. Competition Dashboard 18.2. Competition Benchmarking 18.3. Competition Deep Dive 18.3.1. Dow Chemical Company 18.3.1.1. Overview 18.3.1.2. Product Portfolio 18.3.1.3. Sales Footprint 18.3.1.4. Strategy Overview 18.3.2. ExxonMobil Corporation 18.3.2.1. Overview 18.3.2.2. Product Portfolio 18.3.2.3. Sales Footprint 18.3.2.4. Strategy Overview 18.3.3. Shell plc 18.3.3.1. Overview 18.3.3.2. Product Portfolio 18.3.3.3. Sales Footprint 18.3.3.4. Strategy Overview 18.3.4. BASF SE 18.3.4.1. Overview 18.3.4.2. Product Portfolio 18.3.4.3. Sales Footprint 18.3.4.4. Strategy Overview 18.3.5. Sinopec Group Ltd. 18.3.5.1. Overview 18.3.5.2. Product Portfolio 18.3.5.3. Sales Footprint 18.3.5.4. Strategy Overview 18.3.6. Saudi Basic Industries Corporation 18.3.6.1. Overview 18.3.6.2. Product Portfolio 18.3.6.3. Sales Footprint 18.3.6.4. Strategy Overview 18.3.7. Borealis AG 18.3.7.1. Overview 18.3.7.2. Product Portfolio 18.3.7.3. Sales Footprint 18.3.7.4. Strategy Overview 18.3.8. Ineos Group Ltd 18.3.8.1. Overview 18.3.8.2. Product Portfolio 18.3.8.3. Sales Footprint 18.3.8.4. Strategy Overview 18.3.9. TotalEnergies SE 18.3.9.1. Overview 18.3.9.2. Product Portfolio 18.3.9.3. Sales Footprint 18.3.9.4. Strategy Overview 19. Assumptions and Acronyms Used 20. Research Methodology
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Cumene Market
