Categories: Market Research

Cumene Market Size, Share, Analysis, Growth, Trends, Industry Report 2023-2032| Shell PLC, Exxon Mobil Corporation, BP PLC, Sumitomo Chemical Co. Ltd., BASF SE,

The Cumene Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Cumene Global Market Report 2024, The cumene market size has grown strongly in recent years. It will grow from $27.24 billion in 2023 to $28.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increasing demand for phenol and acetone, growing demand for cumene-based resins, growing demand for plastics, expanding industrialization, rising disposable incomes, increasing awareness of the benefits of cumene-based products.

The cumene market size is expected to see strong growth in the next few years. It will grow to $36.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to expanding urbanization, increasing consumption of consumer goods, growing pharmaceutical and chemical industries, economic growth, bio-based cumene alternatives, expanding automotive sector, construction and building sector. Major trends in the forecast period include biobased cumene, advanced phenol derivatives, digitalization and industry 4.0, green chemistry and sustainability, advanced cumene

The growing automotive industry is expected to propel the growth of the cumene market going forward. The automotive industry is a vast sector that encompasses a wide range of companies and organizations involved in various activities related to motor vehicles. Cumene is primarily used as a raw material in the production of phenol and acetone, which are widely utilized in the automotive industry. For instance, according to the Bureau of Transportation Statistics, a US-based government agency, the total number of passenger cars and commercial vehicles produced in the US was 9.16 million in 2021, an increase of 8.81 million compared to 2020. Additionally, the total number of passenger cars and commercial vehicles sold in 2021 was 11.8 million, which was an increase compared to the 11.6 million reported in 2020. Thus, the growing automotive industry is driving the cumene market.

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The cumene market covered in this report is segmented

1) By Manufacturing Process: Aluminum Chloride Catalyst, Solid Phosphoric Acid (SPA) Catalyst, and Zeolite Catalyst

2) By Application: Phenol; Acetone; Chromatography; Other Applications

3) By End Userr Industry: Paints Industry; Automotive Industry; Chemical Industry; Plastics Industry; Other End-User Industries

The cumene market report table of contents includes:

1. Executive Summary

2. Cumene Market Characteristics

3. Cumene Market Trends And Strategies

4. Cumene Market – Macro Economic Scenario

5. Global Cumene Market Size and Growth