Global Cumene Market Analysis: Plant Capacity, Location, Production, Operating Efficiency, Demand & Supply, End Use, Regional Demand, Sales Channel, Technology Licensor, Company Share, Foreign Trade, Industry Market Size, Manufacturing Process, 2015-2032
The global Cumene market has reached approximately 15 million tonnes in 2021 and is expected to grow at a CAGR of 4.10% during the forecast period until 2032. According to INEOS Phenol's announcement, it has entered into an agreement to pay $330 million to Mitsui Chemicals, a major Japanese chemical producer, to buy the entire asset base of Mitsui Phenols Singapore Ltd. The company generates revenue of USD 750 million and produces more than 1 million tonnes of goods annually, including 410 thousand tonnes of Cumene.
Cumene is an aromatic hydrocarbon with a chemical formula of C9H12. It consists of a benzene ring with a substitution of an isopropyl group. Cumene is a flammable liquid and a constituent of crude oil. Cumene is synthesized by an alkylation reaction of benzene with propylene in the presence of solid phosphoric acid as the catalyst. Chemical manufacturing industries utilize Cumene to produce wide arrays of solvents and chemicals such as acetone, methylstyrene, phenol, and acetophenone. Crude oil and refined fuels contain Cumene as an ingredient. Cumene is used to make products like composite materials, acrylic films, and laminates, which are widely employed in the industrial, transportation, and healthcare fields. Food-grade Cumene, which is used to make polycarbonate plastic for manufacturing consumer goods like bottles and containers, is also generated from Cumene.
The growing demand for Phenol and Acetone is driving the global Cumene market. In several chemical industries, phenol is employed to create essential chemicals like bisphenol A and Phenolic Resin. Phenol and its compounds are utilized for the manufacture of general-use goods like plastic containers, bottles, kitchenware, and food & beverage storage containers. Acetone is widely used to manufacture Bisphenol-A, Methyl Methacrylate, and Methyl Isobutyl Ketone. Acetone is also a popular solvent for oils, fats, waxes, adhesives, rubber, polymers, lacquers, coatings, and rubber cement. The applications of acetone and phenol are anticipated to swell the global Cumene demand in the forecast period to reach approximately 25 million tonnes by 2032.
Based on demand by region, the Asia Pacific dominates the Cumene market, capturing roughly half of the global Cumene market in 2021. It is anticipated that Asia Pacific will remain the biggest consumer of Cumene in the forecast period as well. On the other hand, Europe stands as the second largest consumer of Cumene. The growing use of cumene-based products due to the expanding building and construction activity in developing nations located in the Asia Pacific region is anticipated to propel the growth of the global Cumene demand. Based on production, Asia Pacific is also taking the lead among all the other areas. In 2021, about 45% of the global Cumene production occurred in this region.
Based on the end-user industry, the global Cumene market is segmented into Phenol, Acetone, and Others. The Phenol Industry is a largest consumer of the Cumene market. The wide usage of phenol and phenol-based compounds in the plastic and polymer industry is anticipated to drive the Cumene market in the forecast period. Furthermore, The Acetone industry is also a prominent consumer of the global Cumene market.
Major players in the production of Global Cumene are Cepsa Corporation, Ineos Group Ltd, Shell Plc, CITGO Petroleum Corporation, Flint Hills Resources, PTT Phenol, Formosa Chemical and Fibre, Sunoco, Kumho P&B Chemicals., Inc., Versalis, Mitsui Phenols Singapore Ltd, and Marathon Petroleum Corporation (MPC).
Years considered for this report:
Objective of the Study:
ChemAnalyst calculated Cumene demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Cumene. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
Report Scope:
In this report, Global Cumene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2021
15 million tonnes
Market size Volume by 2032
25 million tonnes
Growth Rate
CAGR of 4.10% from 2022 to 2032
Base year for estimation
2022
Historic Data
2015 – 2021
Forecast period
2023 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2022 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share
Segments covered
By End-Use: (Phenol, Acetone, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
Cumene is an aromatic hydrocarbon with a chemical formula of C9H12. It consists of a benzene ring with a substitution of an isopropyl group. Cumene is a flammable liquid and a constituent of crude oil. Cumene is synthesized by an alkylation reaction of benzene with propylene in the presence of solid phosphoric acid as the catalyst. Chemical manufacturing industries utilize Cumene to produce wide arrays of solvents and chemicals such as acetone, methylstyrene, phenol, and acetophenone. Crude oil and refined fuels contain Cumene as an ingredient. Cumene is used to make products like composite materials, acrylic films, and laminates, which are widely employed in the industrial, transportation, and healthcare fields. Food-grade Cumene, which is used to make polycarbonate plastic for manufacturing consumer goods like bottles and containers, is also generated from Cumene.
The growing demand for Phenol and Acetone is driving the global Cumene market. In several chemical industries, phenol is employed to create essential chemicals like bisphenol A and Phenolic Resin. Phenol and its compounds are utilized for the manufacture of general-use goods like plastic containers, bottles, kitchenware, and food & beverage storage containers. Acetone is widely used to manufacture Bisphenol-A, Methyl Methacrylate, and Methyl Isobutyl Ketone. Acetone is also a popular solvent for oils, fats, waxes, adhesives, rubber, polymers, lacquers, coatings, and rubber cement. The applications of acetone and phenol are anticipated to swell the global Cumene demand in the forecast period to reach approximately 25 million tonnes by 2032.
Based on demand by region, the Asia Pacific dominates the Cumene market, capturing roughly half of the global Cumene market in 2021. It is anticipated that Asia Pacific will remain the biggest consumer of Cumene in the forecast period as well. On the other hand, Europe stands as the second largest consumer of Cumene. The growing use of cumene-based products due to the expanding building and construction activity in developing nations located in the Asia Pacific region is anticipated to propel the growth of the global Cumene demand. Based on production, Asia Pacific is also taking the lead among all the other areas. In 2021, about 45% of the global Cumene production occurred in this region.
Based on the end-user industry, the global Cumene market is segmented into Phenol, Acetone, and Others. The Phenol Industry is a largest consumer of the Cumene market. The wide usage of phenol and phenol-based compounds in the plastic and polymer industry is anticipated to drive the Cumene market in the forecast period. Furthermore, The Acetone industry is also a prominent consumer of the global Cumene market.
Major players in the production of Global Cumene are Cepsa Corporation, Ineos Group Ltd, Shell Plc, CITGO Petroleum Corporation, Flint Hills Resources, PTT Phenol, Formosa Chemical and Fibre, Sunoco, Kumho P&B Chemicals., Inc., Versalis, Mitsui Phenols Singapore Ltd, and Marathon Petroleum Corporation (MPC).
Years considered for this report:
- Historical Period: 2015- 2021
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2032
Objective of the Study:
- To assess the demand-supply scenario of Cumene which covers production, demand and supply of Cumene market in the globe.
- To analyze and forecast the market size of Cumene
- To classify and forecast Global Cumene market based on end-use and regional distribution.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., of Cumene market in the globe.
ChemAnalyst calculated Cumene demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Cumene. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
- Cumene manufacturers and other stakeholders
- Organizations, forums and alliances related to Cumene distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
Report Scope:
In this report, Global Cumene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2021
15 million tonnes
Market size Volume by 2032
25 million tonnes
Growth Rate
CAGR of 4.10% from 2022 to 2032
Base year for estimation
2022
Historic Data
2015 – 2021
Forecast period
2023 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2022 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share
Segments covered
By End-Use: (Phenol, Acetone, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
1. CAPACITY BY COMPANY
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Cumene.
2. CAPACITY BY LOCATION
To better understand the regional supply of Cumene by analyzing its manufacturers' location-based capacity.
3. PRODUCTION BY COMPANY [QUARTERLY UPDATE]
Study the historical annual production of Cumene by the leading players and forecast how it will grow in the coming years.
4. PLANT OPERATING EFFICIENCY [QUARTERLY UPDATE]
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. DEMAND BY END- USE [QUARTERLY UPDATE]
Discover which end-user industry (Phenol, Acetone, and Others) are creating a market and the forecast for the growth of the Cumene market.
6. DEMAND BY REGION
Analyzing the change in demand of Cumene in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
7. DEMAND BY SALES CHANNEL (DIRECT AND INDIRECT)
Multiple channels are used to sell Cumene. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
8. DEMAND-SUPPLY GAP
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Cumene.
9. COMPANY SHARE
Figure out what proportion of the market share of Cumene is currently held by leading players across the globe.
10. COUNTRY-WISE EXPORT
Get details about quantity of Cumene exported by major countries.
11. COUNTRY-WISE IMPORT
Get details about quantity of Cumene imported by major countries.
12. INDUSTRY MARKET SIZE
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of cumene market in terms of value and volume.
13. MANUFACTURING PROCESS
Discover insights into the intricate manufacturing process of Cumene.
14. TECHNOLOGY LICENSOR
Plant wise detail of Technology Licensor and detailed description of technology is mapped.
15. PRICING ANALYSIS & FORECAST
Analyze historical prices since 2015 & Forecast on three months rolling period for next 12 months.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Cumene.
2. CAPACITY BY LOCATION
To better understand the regional supply of Cumene by analyzing its manufacturers' location-based capacity.
3. PRODUCTION BY COMPANY [QUARTERLY UPDATE]
Study the historical annual production of Cumene by the leading players and forecast how it will grow in the coming years.
4. PLANT OPERATING EFFICIENCY [QUARTERLY UPDATE]
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. DEMAND BY END- USE [QUARTERLY UPDATE]
Discover which end-user industry (Phenol, Acetone, and Others) are creating a market and the forecast for the growth of the Cumene market.
6. DEMAND BY REGION
Analyzing the change in demand of Cumene in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
7. DEMAND BY SALES CHANNEL (DIRECT AND INDIRECT)
Multiple channels are used to sell Cumene. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
8. DEMAND-SUPPLY GAP
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Cumene.
9. COMPANY SHARE
Figure out what proportion of the market share of Cumene is currently held by leading players across the globe.
10. COUNTRY-WISE EXPORT
Get details about quantity of Cumene exported by major countries.
11. COUNTRY-WISE IMPORT
Get details about quantity of Cumene imported by major countries.
12. INDUSTRY MARKET SIZE
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of cumene market in terms of value and volume.
13. MANUFACTURING PROCESS
Discover insights into the intricate manufacturing process of Cumene.
14. TECHNOLOGY LICENSOR
Plant wise detail of Technology Licensor and detailed description of technology is mapped.
15. PRICING ANALYSIS & FORECAST
Analyze historical prices since 2015 & Forecast on three months rolling period for next 12 months.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
