In-Depth Exploration of the Cumene Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2030.
Report Ocean has recently released a comprehensive research report on the global Cumene Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
Global Cumene Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
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Cumene also known as is opropylbenzene is an organic compound. It is colorless, volatile liquid and have gasoline-like odor. Cumene is obtained through benzene and propylene using either solid phosphoric acid or anhydrous aluminum chloride or zeolite as catalyst. Cumene is utilized in manufacturing of different such as phenol, acetone, acetophenone, and methyl styrene. It is used as a thinner in paints, lacquers, and enamels. Cumene is also used in the manufacturing of rubber, iron and steel, and pulp and paper. The growing paints and coatings industry and increasing demand for phenol from the plastic sector as well as recent expansion activities are factors that are accelerating the global market demand. For instance, according to Statista – In 2020, the global market for paint and coatings was estimated at USD 107 billion, and this amount is projected to reach to USD 200 billion by end of 2028. Furthermore, in September 2021, US based Lummus Technology LLC received plant acceptance from Formosa Chemicals and Fibre Corp. for its new cumene and phenol plant expansion in Ningbo, China. The company would expand its existing cumene (450 kMTA) and phenol (300 kMTA) capacity to 600 kMTA and 400 kMTA respectively. Also, growing construction and automotive sector and rising industrialization in emerging economies are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, health risks associated with extended exposure of Cumene, and volatile cost of raw materials impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Cumene Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific is the leading region across the world in terms of market share owing to the growing application of cumene in manufacturing of different chemicals such as surfactants, rubber additives, laminates, molded plastics, and protective coatings and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as rising automotive and construction sector as well as surging electric and electronics industry in the region, would create lucrative growth prospects for the Cumene Market across the Asia Pacific region.
Major market players included in this report are:
- Royal Dutch Shell Plc. (Netherlands)
- Exxon Mobil Corporation (U.S.)
- BASF SE (Germany)
- Sumitomo Chemical Co. Ltd (Japan)
- The Dow Chemical Company (U.S.)
- Westlake Chemical Corporation (U.S.)
- Taiwan Cement Corp. (Taiwan)
- Braskem (Brazil)
- China Petrochemical Corporation (China)
- SABIC (Saudi Arabia)
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Production
Zeolite
Solid phosphoric acid
Aluminum chloride
By Application
Phenol
Acetone
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Cumene market, including:
- What can be expected for the Cumene market in the next decade?
- What are the primary drivers of growth in the global Cumene market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Cumene market vary based on the size of the end market?
- What is the breakdown of Cumene by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Cumene market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Cumene Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Cumene Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Cumene Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Cumene Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Cumene Market.
Our Cumene Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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