Cumene Market Size (2024 - 2029)

The cumene market is anticipated to experience steady growth, driven by increasing demand from the plastic industry and significant consumption of acetone as a solvent. Despite the initial decline due to the COVID-19 pandemic, which impacted demand in key sectors like cosmetics and aviation fuels, the market is recovering as industrial activities resume. The harmful effects of cumene and its derivatives pose challenges, but opportunities are emerging from investments in bisphenol A applications. The Asia-Pacific region is expected to lead in market size and growth rate during the forecast period.

Market Size of Cumene Industry

Cumene Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.50 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Cumene Market Major Players

*Disclaimer: Major Players sorted in no particular order

Cumene Market Analysis

The global cumene market is estimated to reach over 15,700 kilotons by the end of this year and is projected to register a CAGR of over 4.5% during the forecast period.

The sudden onset of the COVID-19 pandemic in 2020 caused demand for cumene to decline in the global market, leading to low demand for phenol and acetone derivatives of cumene. The phenol market segment witnessed a lower growth rate from early 2020 to mid-2021 owing to the suspension of industrial activities. The production of phenol decreased due to the impact of COVID-19 on the industry, the region, and subsequent supply chain operations. Moreover, the pandemic affected the major end-user industries of cumene, such as cosmetics and personal care, paints and enamels, high-octane aviation fuels, and polymer industries, where declined sales weakened the demand for cumene for a long period. However, the market is projected to grow steadily, owing to a rapid headstart in activities of various end-user industries such as construction and others, which consume cumene and its derivative-based products, post the pandemic retraction.

  • Over the medium term, the increasing demand for phenol from the plastic industry and the large consumption of acetone as a solvent are major factors driving the growth of the market studied.
  • On the flip side, harmful effects ehibited by cumene and its derivatives due to extended exposure is anticipated to significantly hinder the market's growth.
  • Nevertheless, the rising investments and applications of bisphenol A (BPA) is likely to create lucrative growth opportunities for the global market soon.
  • Asia-Pacific is expected to dominate the global market during the forecast period. Also, it is expected to register the highest CAGR during the forecast period.

Cumene Industry Segmentation

Cumene (chemical name: isopropylbenzene) is an aliphatic-substituted aromatic hydrocarbon present in all crude oil and refined fuels. It is a colorless, flammable liquid with a boiling point of 152°C. Cumene is produced either from the distillation of coal tar and petroleum fractions or by the acid-catalyzed alkylation reaction of benzene with propene. The cumene market is segmented by catalyst type, application, and geography. By catalyst type, the market is segmented into aluminum chloride catalyst, solid phosphoric acid (SPA) catalyst, zeolite catalyst, and other catalyst types. By application, the market is segmented into phenol, acetone, and other applications. The report also covers the market size and forecast for the cumene market in 15 countries across major regions. For each segment, the market sizing and forecast have been done based on volume (kilo tons).

Catalyst Type
Aluminum Chloride Catalyst
Solid Phosphoric Acid (SPA) Catalyst
Zeolite Catalyst
Other Catalyst Types
Application
Phenol
Acetone
Other Applications (Including Paints, Enamels, Aviation Fuels, and Others)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Cumene Market Size Summary

The global cumene market is poised for steady growth, driven by its critical role as an intermediate in the production of phenol and acetone. The market experienced a downturn during the COVID-19 pandemic due to reduced demand in key sectors such as cosmetics, personal care, and aviation fuels. However, post-pandemic recovery in industries like construction is expected to bolster demand. The automotive sector's expansion, particularly in the production of phenolic adhesives and Bisphenol A (BPA), is a significant factor propelling the market forward. Despite challenges posed by the harmful effects of cumene exposure, rising investments in BPA applications present promising growth opportunities.

Asia-Pacific, with China at the forefront, is anticipated to dominate the cumene market, benefiting from a robust chemical manufacturing sector and increasing end-user demand. Cumene's versatility as a solvent and its use in high-octane aviation fuel further enhance its market appeal. The region's expanding coatings industry, supported by investments from companies like PPG, underscores the positive market dynamics. The fragmented nature of the global cumene market sees major players such as Cepsa, INEOS, and Dow actively engaging in strategic expansions and acquisitions to strengthen their market positions.

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Cumene Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Phenol from the Plastic Industry

      2. 1.1.2 Increasing Use of Acetone as a Solvent

    2. 1.2 Restraints

      1. 1.2.1 Harmful Effects Due to Extended Exposure

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Feedstock Analysis

    6. 1.6 Technological Snapshot

    7. 1.7 Trade Analysis

    8. 1.8 Price Trends

    9. 1.9 Regulatory Policy Analysis

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Catalyst Type

      1. 2.1.1 Aluminum Chloride Catalyst

      2. 2.1.2 Solid Phosphoric Acid (SPA) Catalyst

      3. 2.1.3 Zeolite Catalyst

      4. 2.1.4 Other Catalyst Types

    2. 2.2 Application

      1. 2.2.1 Phenol

      2. 2.2.2 Acetone

      3. 2.2.3 Other Applications (Including Paints, Enamels, Aviation Fuels, and Others)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 US

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 France

        3. 2.3.3.3 UK

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Cumene Market Size FAQs

The Cumene Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

Cepsa, INEOS, KUMHO P&B CHEMICALS.,INC., Dow and Koch Industries, Inc. are the major companies operating in the Cumene Market.

Cumene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)