Cumene Market Size, Industry Share & Trend

Cumene Market Outlook (2022-2032)

[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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Prominent Cumene Market Drivers

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.

Cumene Market

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.

Key Challenges And Restraints Affecting The Cumene Market Growth

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.

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Key Trends Prevailing In The Cumene Market

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.

Category Wise Analysis For Cumene Market

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.

Region Wise Analysis For Cumene Market

How Opportunistic will the Market for Cumene be across Asia Pacific and the USA?

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.

Will Europe emerge as an Attractive Cumene Market?

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.

Who are the Key Competitors in the Cumene Market?

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.

Recent Developments

In May 2021, PPG announced the completion of a US$ 13 Million investment in its paint and coatings plant in Jiading, China, which includes eight new powder coating production lines and an enlarged powder coatings technology centre, which will improve PPG's research and development capabilities. The extension will almost certainly boost the plant's capacity by over 8,000 tonnes per year.
In October 2019, INEOS announced that it had broken ground at its global-scale cumene investment facility at Marl, Germany. With a capacity of 750,000 ton per year of cumene, the plant’s construction was expected to be completed in 2021.
In October 2015, INEOS Americas LLC acquired Axiall Corporation for US$ 62.9 Million. The acquisition comprises of cumene plant with a production capacity of 900,000 tons and will help the company to expand its portfolio and expansion of in market while also serving the consumer demand.

By Key Players

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
Versalis SpA

Key Segments Covered In The Cumene Market Report

Cumene Market by Production:

Zeolite Cumene
Solid Phosphoric Acid Cumene
Aluminum Chloride Cumene

Cumene Market by Application:

Cumene for Phenol
- Phenol Resins
- Caprolactum
- Bisphenol A
- Alkylphenols
- Others
Cumene for Acetone
- Solvent Use
- Methyl Methacrylate
- Bisphenol A
- Aldol Chemicals
- Others
Cumene for Other Applications

Cumene Market by Region:

North America Cumene Market
Latin America Cumene Market
Europe Cumene Market
Asia Pacific Cumene Market
Middle East and Africa Cumene Market

Frequently Asked Questions

What was the market value for cumene in 2021?

As of 2021, the market for cumene was valued at US$ 23.5 Billion, as per FMI

At what value did the cumene market close in 2022?

By 2022-end, sales of cumenes closed at a value of US$ 25.1 Billion

What was the last 6 years value CAGR for the cumene market?

From 2015 to 2021, cumene demand expanded at a CAGR of 6.3%

What is the projected forecast CAGR for the cumene industry from 2022-2032?

From 2022 to 2032, cumene sales are expected to flourish at a CAGR of 5.4%

According to FMI, what is the anticipated market value for cumene in 2032?

By 2032, the market value of cumene is expected to reach US$ 42.7 Billion.

At what percentage will cumene demand accelerate across the US?

From 2022 to 2032, cumene demand in the US is expected to surge at a CAGR of 5.0%

By production, which category ranks first with regard to cumene Market?

By production, the zeolite category constitutes the bulk of market share with a CAGR of 5.6%.

By application, which category ranks first with regard to cumene?

By application, the phenol category of cumene is expected to dominate the market with a CAGR of 5.4%.

Table of Content

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