Cumene Market Size to grow by USD 6760.2 million between 2024-2028

The Cumene Market is segmented by Application (Phenol, Acetone, and Others), Technology (Zeloite, Solid phosphoric acid, and Aluminum chloride), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 6760.2 million, at a CAGR of 4.96% during the forecast period. There are several companies that are contributing to the market as per this report. Increasing demand for phenol in plastic industry .

By Application, the Phenol segment is projected to dominate the market size in 2024

The Cumene market is experiencing significant growth due to its widespread application in the production of polystyrene and acrylonitrile butadiene styrene (ABS) resins. As a key feedstock in the chemical industry, cumene contributes to the manufacturing of various plastics and rubber products. Its demand is driven by the increasing consumer preference for lightweight and durable materials in automotive, construction, and packaging industries. The market is expected to continue its upward trend, driven by these factors and advancements in technology.

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By Technology, Zeloite segment is expected to hold the largest market size for the year 2024

The Cumene market exhibits robust growth, driven by its extensive applications in the production of polystyrene and acrylonitrile butadiene styrene (ABS) resins. As a key feedstock in the petrochemical industry, Cumene demand is significantly influenced by the performance of end-use industries, particularly automotive and construction. Market trends indicate continued expansion, underpinned by increasing consumer demand for lightweight and durable materials. Strategic partnerships and capacity expansions by key players further bolster the market's growth trajectory.

Why is APAC forecasted to hold the largest regional market size in 2024?

The Cumene market is a significant segment of the global chemical industry. As a key intermediate in the production of polystyrene and acetone, cumene demand is driven by the growth of the plastics and coatings industries. Market trends indicate steady expansion due to increasing applications in various end-use sectors. Producers are focusing on enhancing production efficiency and reducing costs to maintain competitiveness. The market is expected to experience robust growth in the forecast period, driven by expanding demand from emerging economies.

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Research Analysis Overview

Cumene is an important flammable organic compound derived from the aliphatic substitution of benzene with isopropyl group. It is primarily produced from refined crude oil through the catalytic reaction using aluminum chloride and water. The global cumene market size is expected to grow significantly due to its wide applications in various industries. In the chemical industry, cumene is used as a solvent in paints and coatings, including enamels and sealants. It is also used in the production of high-octane production fuels and fuel additives. Zeolite-based catalysts are commonly used in the production of cumene due to their high selectivity and activity. Moreover, cumene is a crucial raw material in the production of phenolic resins, particularly in the phenol sub-segment. Phenolic resins are used in the manufacturing of various products such as phenol formaldehyde resins, phenol-neoprene resins, and alkyd resins. Major players in the cumene market include PPG, Nippon, INEOS Phenol, Mitsui Phenols, and Mitsui Chemicals. The demand for cumene is expected to increase during the Lunar New Year festival due to the high demand for paints and coatings in China. Additionally, the production of cumene hydroperoxide, acetone, alpha-methylstyrene, and bisphenol A also contributes to the growth of the cumene market.

Market Research Overview

The global diversified metals and mining industry encompasses businesses involved in the production or extraction of a range of metals and minerals, including non-ferrous metals such as lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium, as well as salt, borate, phosphate rock, and various alloys. According to Technavio's market analysis, the industry's size is determined by the consolidated revenue generated by companies operating in the metals and minerals extraction sector and those involved in diversified mining operations. - The Cumene Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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