Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Cumene Market Report by Manufacturing Process Catalyst, Application, End Use Industry, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global cumene market size reached US$ 21.2 Billion in 2023. Looking forward, the market is set to reach US$ 30.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.24% during 2023-2032.
Various product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles, are contributing to the market growth. Other factors, including rapid industrialization, along with the increasing consumer demand for high octane cumene-derivatives, are anticipated to drive the market further.
Significant growth in the plastic industry across the globe is one of the key factors creating a positive outlook for the market. Furthermore, the widespread adoption of acetone as an industrial solvent is providing a thrust to the market growth. Acetone is a widely used as a by-product of cumene that is further used in the manufacturing of bisphenol A (BPA) and methyl methacrylate (MMA) in various pharmaceutical and cosmetic products.
It is also a natural component of coal tar and crude oil and can be used as a blending component in gasoline. In line with this, cumene is also used to produce acrylic sheets, laminates and composites, which are extensively utilized in construction, automotive and medical applications.
Key Questions Answered in This Report
- What was the size of the global cumene market in 2023?
- What is the expected growth rate of the global cumene market during 2024-2032?
- What are the key factors driving the global cumene market?
- What has been the impact of COVID-19 on the global cumene market?
- What is the breakup of the global cumene market based on the manufacturing process?
- What is the breakup of the global cumene market based on the application?
- What is the breakup of the global cumene market based on the end use industry?
- What are the key regions in the global cumene market?
- Who are the key players/companies in the global cumene market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $21.2 Billion |
| Forecasted Market Value (USD) by 2032 | $30.8 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Competitive Landscape:
- BASF SE
- Borealis AG
- ExxonMobil Corporation
- INEOS Capital Limited
- LG Chem Ltd.
- Merck KGaA
- Royal Dutch Shell plc
- Saudi Basic Industries Corporation
- Sumitomo Chemical Co. Ltd
- The Dow Chemical Company (Dow Inc.)
- Versalis S.p.A. (Eni S.p.A)
Key Market Segmentation:
Breakup by Manufacturing Process:
- Aluminum Chloride Catalyst
- Solid Phosphoric Acid (SPA) Catalyst
- Zeolite Catalyst
Breakup by Application:
- Phenol
- Acetone
- Paints and Enamels
- High-octane Aviation Fuels
- Others
Breakup by End Use Industry:
- Plastics Industry
- Automotive Industry
- Chemical Industry
- Paint Industry
- Rubber Industry
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/kskcbg
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