** U.S (New York) According to Report Ocean recently released its “Cumene Market” Research Report for the years 2023-2032. This report conducts an extensive examination of the market, delving deep into its dynamics, encompassing crucial trends, emerging technologies, driving forces, challenges, and regulatory measures. In addition, it provides insights into the strategies and profiles of key industry players. Comprising over 100+ data tables, pie charts, graphs, and figures, this market study offers a comprehensive understanding of the market landscape. It delivers a thorough evaluation, encompassing future trends, current growth drivers, expert perspectives, factual insights, and industry-validated market data, all of which contribute to precise forecasts extending until 2032.
The global cumene market was valued at $16,330 million in 2015, and is projected to reach $25,089 million by 2022, growing at a CAGR of 6.5% from 2016 to 2022. Cumene, also known as isopropyl-benzene, is an inflammable organic compound, which is derived from an aromatic hydrocarbon with an aliphatic substitution. It is a major constituent of refined fuels and crude oil. It is used in a wide range of industries as a base chemical to produce cumene hydroperoxide, which further produces two commercially crucial chemicals namely acetone and phenol. It is used in sealant, adhesives, as a solvent in paints, lacquers, enamels, in the production of high octane production fuels, and in fuel additives.
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Who is the largest manufacturers of Cumene Market Worldwide ?
Royal Dutch Shell Plc.
Exxon Mobil Corporation
Total S.A.
BP Plc.
Axiall Corporation
SABIC
BASF SE
The Dow Chemical Company
JX Nippon Oil
Sumitomo Chemical Co.
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
Guangzhou VA-SO Plastics Co.Ltd.
Has there been any international intervention to address the Russia-Ukraine War?
Minsk Agreements: The Minsk Agreements are a set of ceasefire agreements aimed at resolving the conflict in Eastern Ukraine. They were negotiated through the Organization for Security and Cooperation in Europe (OSCE) with the involvement of Russia, Ukraine, and representatives of the self-proclaimed Donetsk and Luhansk People’s Republics. These agreements have been a centerpiece of diplomatic efforts, but they have not led to a comprehensive resolution of the conflict.
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Normandy Format: The Normandy Format is a diplomatic group involving the leaders of Ukraine, Russia, Germany, and France. This format has been used to facilitate negotiations and discussions aimed at resolving the conflict, but it has faced numerous challenges and has not resulted in a lasting peace settlement.
OSCE Monitoring Mission: The Organization for Security and Cooperation in Europe (OSCE) has deployed a Special Monitoring Mission (SMM) to Ukraine. This mission’s purpose is to monitor the security situation, report on violations, and facilitate dialogue between the conflicting parties.
Sanctions: Many Western countries, including the United States and the European Union, imposed economic sanctions on Russia in response to its actions in Ukraine. These sanctions were intended to put economic pressure on Russia and encourage a diplomatic solution.
United Nations: The United Nations has been involved in various ways, including efforts to facilitate humanitarian assistance and providing a forum for international discussions on the conflict.
Humanitarian Aid: Various international organizations and countries have provided humanitarian assistance to people affected by the conflict in Ukraine.
The global cumene market has witnessed significant growth opportunities globally, owing to growth in demand for phenol and acetone and their derivatives. Furthermore, rise in per capita disposable income, overall economic growth, and upsurge in the use of phenolic resins & bisphenol-A are anticipated to boost the market growth during the forecast period. Moreover, growth in demand for phenol in various industries such as plastics, composites, and laminates are anticipated to supplement the global market. However, volatile prices crude oil and hazardous health effects of cumene are expected to hamper this growth.
The global cumene market is categorized on the basis of application and geography. Based on application, it is classified into phenol/acetone and others. Geographically, the market is analyzed across North America, Latin America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
- The report provides extensive qualitative & quantitative analyses of the current trends and future estimations of the global cumene market from 2014 to 2022 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Market estimations and forecast of the industry are based on factors impacting the growth, in terms of value and volume.
- Competitive intelligence of leading producers and suppliers of cumene assists to understand the competitive scenario globally.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
Key Market Segments:
By Application
Phenol/Acetone
Others
By Geography
North America
U.S.
Canada
Mexico
Europe
Germany
Russia
UK
France
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Korea
Rest of Asia-Pacific
LAMEA
Brazil
KSA
South Africa
Table of Contents:
- Executive Summary
- Introduction
- Methodology
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
- Conclusion
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What are the goals of the report?
- The predicted market size for the Market Industry at the conclusion of the forecast period is shown in this market report.
- The paper also analyses market sizes in the past and present.
- The charts show the year-over-year growth (percent) and compound annual growth rate (CAGR) for the given projected period based on a variety of metrics.
- The research contains a market overview, geographical breadth, segmentation, and financial performance of main competitors.
- The research evaluates the current situation of the industry in North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa, as well as future growth opportunities.
- The study examines the future period’s growth rate, market size, and market worth.
PEST Factors:
Political Factors:
- Identification of government policies and political groups that may impact business success.
- Assessment of political environment stability and potential for changes.
- Evaluation of upcoming local, state, or national elections and their potential influence on government policies.
- Analysis of key contenders for power and their stance on trade policies affecting the organization.
- Examination of property rights, rule of law, corruption, and organized crime levels, along with potential future changes and implications.
- Consideration of pending legislation and tax changes that could affect the business positively or negatively.
- Review of business regulations and potential changes, and identification of trends towards regulation or deregulation.
- Examination of government stance on corporate policies, corporate social responsibility, environmental issues, and customer protection legislation, and potential impacts.
- Estimation of the timeline for proposed legislative changes.
- Identification of other potential political factors that could bring about change.
Economic Factors:
- Anticipation of future economic influences on the business.
- Evaluation of current economic performance and its immediate effects.
- Analysis of how economic factors impact prices, income, and costs.
- Assessment of economic stability – growth, stagnation, or decline.
- Consideration of stability or fluctuations in key exchange rates.
- Examination of trends in customers’ disposable income levels and predictions for the future.
- Evaluation of unemployment rates and ease or difficulty in building a skilled workforce.
- Analysis of access to credit for consumers and businesses and its potential effects on the organization.
- Consideration of globalization’s impact on the economic environment.
- Identification of additional economic factors worth considering.
Social Factors:
- Examination of customer beliefs and values and their influence on purchasing behaviors.
- Analysis of cultural trends and human behaviors affecting the business.
- Assessment of population growth rates, age profiles, and likelihood of changes.
- Consideration of generational attitude shifts and their potential impact.
- Evaluation of health, education, and social mobility levels in society, along with changing trends and implications.
- Examination of employment patterns, labor market trends, and age-specific work attitudes.
- Analysis of relevant social attitudes, taboos, and recent socio-cultural changes.
- Consideration of the influence of religious beliefs and lifestyle choices on the population.
- Identification of other sociocultural factors with the potential to drive change.
Technological Factors:
- Assessment of current and emerging technological advances and innovations.
- Evaluation of technology’s impact on business operations.
- Identification of new technologies currently being used or considered for implementation.
- Anticipation of potentially disruptive technologies on the horizon.
- Analysis of competitors’ access to new technologies that could redefine products.
- Examination of focus areas for government and educational institution research, with potential opportunities for the business.
- Assessment of how changes in infrastructure have affected work patterns (e.g., remote work levels).
- Identification of existing technology hubs for potential collaboration and learning.
- Consideration of other relevant technology-related factors.
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