NEW YORK, May 03, 2023 (GLOBE NEWSWIRE) -- IndexBox, a leading market research firm, has released a new report on the global cumene market. The comprehensive analysis provides insights on market size, trends, and forecasts up to 2030. This report can be accessed via the following link: https://www.indexbox.io/store/world-cumene-market-analysis-forecast-size-trends-and-insights/
To provide potential customers with an opportunity to explore the rich data provided by the IndexBox platform, trial access to market data is now available.
The cumene market is expected to witness significant growth through 2030, driven by various factors such as increasing demand for phenol and acetone, rapid industrialization, and a surge in demand from end-use industries. However, challenges such as stringent environmental regulations, fluctuating raw material prices, and competitive pressures from alternative products may restrain market growth.
Key growth drivers in the cumene market include the expanding chemical, pharmaceutical, and automotive industries, where cumene derivatives are widely used. Moreover, advancements in technology and the increasing need for sustainable solutions are expected to propel the market growth further.
The demand for cumene is primarily driven by its role in the production of phenol and acetone, which are used as key raw materials in several industries, including plastics, resins, adhesives, paints, and coatings. Additionally, cumene plays a significant role in the manufacturing of bisphenol-A and polycarbonate plastics, both of which are extensively used in the automotive and electronic sectors.
Major consuming industries such as the automotive, construction, and pharmaceutical sectors are expected to fuel the growth of the cumene market. The increasing demand for lightweight materials in the automotive industry and the growing need for infrastructure development are anticipated to boost the demand for cumene derivatives, driving the overall market.
Asia-Pacific dominates the global cumene market, with China being the largest consumer, followed by North America and Europe. The region's growth prospects are promising due to rapid industrialization, urbanization, and the growing middle-class population. The increasing demand for consumer goods and the expanding automotive and construction industries in the region are expected to drive the market further.
Key statistics provided in the report include market size, production volume, consumption, and export-import data. Additionally, the report highlights the top 10 largest manufacturers in the industry, which are:
- INEOS Group Holdings S.A.
- ExxonMobil Chemical Company
- Sinopec Group
- Royal Dutch Shell
- Total S.A.
- Dow Chemical Company
- BASF SE
- Chevron Phillips Chemical Company
- LG Chem Ltd.
- Formosa Plastics Corporation
For more information on the global cumene market report or to access the trial data, please visit https://www.indexbox.io/store/world-cumene-market-analysis-forecast-size-trends-and-insights/
Keywords: cumene, phenol, acetone, market research, chemicals, IndexBox, global market, market forecast
