Global CumeneMarket is expected to reach USD 28.2 billion by 2025. Cumene is also termed as is opropyl benzene, 1-methylethyl benzene, or 2-phenylpropane, is an organic compound with a molecular formula C9H12 and molecular weight 120.195 g/mol. It is volatile liquid and colorless with a gasoline like odor and may be used as a combination constituent in gasoline. It is a natural constituent of crude oil and coal tar. It is exclusively used for manufacturing Acetone and Phenol, two chemicals that are exclusively used to make plastics. The cumene market is estimated to grow at a significant CAGR of 4.6 % over the forecast period as the scope and its applications are rising enormously across the globe.
Increasing
demand for acetone and phenol in several end use industries and environmental
policy registered with VAM in developing countries are documented as major
factors of cumene industry that are estimated to enhance the growth in the
years to come. However, hazardous effects of Cumene on health may restrict
overall market growth in the coming years. Cumene market is segmented based on
product type, applications, and region.
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Aluminum
chloride, zeolite, solid phosphoric acid, and other product types could be
explored in Cumene in the forecast period. Zeolite sector accounted for the
substantial market share of Cumene and is estimated to continue its dominance
in the coming years. Also, the sector is estimated to grow at highest CAGR in
the coming years.
The
may be categorized based on applications like acetone, phenol, and others that
could be explored in the forecast period. Phenol sector accounted for the
substantial market share of Cumene and is estimated to lead the overall market
in the coming years. Derivatives of phenol includes alkyl phenols, phenol
resins, bisphenolA, caprolactam, and others. Also, acetone sector is estimated
to grow at fastest pace in the coming years. The derivatives of acetone are
aldol chemicals, solvent use, bisphenolA, methyl methacrylate, and others.
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Globally,
Asia Pacific accounted for the substantial market share of Cumene and is
estimated to lead the overall market in the coming years. The reason behind the
overall market growth could be high demand from developing countries like
China, Indonesia, and India, high demand for acetone and phenol, and developing
construction and automotive companies in the region. Instead, Europe is also
estimated to have a positive influence on the future growth.
The
key players of cumene market are Dow Chemical Company, ExxonMobil, Saudi Basic
Industries Corporation, BASF SE, Sinopec Group Ltd., China Petroleum &
Chemical Corporation, and Total S.A. These players are concentrating on inorganic
growth to sustain themselves amongst fierce competition. As companies all over
the world have to believe that alliance with a market would permit them
proportional market existence and authority to declare the leadership position.
Market Segment:
Production Outlook (Volume, Kilo
Tons; Revenue, USD Billion, 2014 - 2025)
• Zeolite
• Solid Phosphoric Acid
• Aluminum Chloride
Application Outlook (Volume, Kilo
Tons; Revenue, USD Billion, 2014 - 2025)
• Phenol
• Phenol resins
• Caprolactam
• Bisphenol A
• Alkyl phenols
• Others
• Acetone
• Solvent use
• Methyl Methacrylate
• Bisphenol A
• Aldol chemicals
• Others
• Others
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