The cumene market was valued at USD 19.7 billion in 2022 and is projected to reach USD 30.6 billion by 2032, expanding at a 4.5% CAGR between 2023 and 2032.
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"The Global Cumene Market 2022-2032 (USD Billion)")
One of the major factors expected to drive the market for cumene market demand across the globe over the forecast period is rising demand for phenol in several industries including composites, plastics, laminates & other industries. Another factor fueling the cumene market growth is rising demand for acetone that uses cumene as a production raw material.
Cumene is a colorless & clear liquid with a pungent stench that is a component of finished fuels as well as crude oil. Molecular weight of cumene is 120.2 (g/mol) with a boiling point of 152153C, also melting point of -96C. Moreover, the product is used in varied forms petroleum products plus as a thinner for high fuels of octane, lacquers, paints & enamels as well as for the production of acetone, 0acetophenone, methylstyrene and phenol.
The global cumene market has been segmented by different applications and geography. Further, by different application, market has been sub-divided into phenol/acetone and others. Application segment of the cumene market is dominated by phenol/acetone segment and is expected to maintain its dominance over the forecast spell, rising at a CAGR of x.x% in terms of volume.
Likewise geographical segment divides market into certain key regions covering Europe, Asia-Pacific, North America and LAMEA. In addition, Asia-Pacific region was accounted for around xx% cumene market share, trailed by Europe & North America respectively. Moreover, developing economies of Asia-Pacific region are predicted to witness moderate rate of growth, on account of intensifying growth rates in overall economy. Furthermore, increase in investments by key players is another major factor fueling the market growth.
Cumene market across the world operating in the competitive landscape market is making huge investments in research & development in order to develop innovative products to meet the market’s requirement. Key players operating in value chain of the industry include Exxon Mobil Corporation, Royal Dutch Shell Plc., Total S.A., BP Plc., Axiall Corporation, Sumitomo Chemical Co., BASF SE, SABIC, JX Nippon Oil and The Dow Chemical Company.
Other prominent players in the market are KMG Chemicals, CNPC, KenolKobil, Taiwan Cement Corporation, Formosa Plastics Group, Georgia Gulf Corporation, China Petrochemical Development Corporation, Koch Industries, Ineos Group Limited, Petroleos de Venezuela S.A. Mitsui & Co. LTd., Aramco Services Company, CEPSA, Eni Spa, Sunoco, Flint Hills Resources LP, Domo Investment Group, Guangzhou VA-SO Plastics Co. Ltd. and CPCC, Chang Chun Plastics Co. LTD.
Cumene Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 30.6 billion |
| Growth Rate | CAGR of 4.5% during 2023-2032 |
| Segment Covered | Production, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | KMG Chemicals, CNPC, KenolKobil, Taiwan Cement Corporation, Formosa Plastics Group, Georgia Gulf Corporation, China Petrochemical Development Corporation, Koch Industries, Ineos Group Limited, Petroleos de Venezuela S.A. Mitsui & Co. LTd., Aramco Services Company, CEPSA, Eni Spa, Sunoco. |
Key segments of the global cumene market include:
Production Outlook ((Revenue, USD Million; Volume, Kilotons)
• Zeolite
• Solid phosphoric acid
• Aluminum chloride
- Application segment of cumene market
- Phenol/acetone
- Others
- Geographical segment of cumene market
- Europe (Russia, Germany, France, UK & Rest of Europe)
- Asia-Pacific (China, India, Australia, Japan, Korea & Rest of Asia-Pacific)
- North America (Canada, U.S. & Mexico)
- LAMEA (Brazil, South Africa, KSA & Rest of LAMEA)
Frequently Asked Questions (FAQ) :
The major players are KMG Chemicals, CNPC, KenolKobil, Taiwan Cement Corporation, Formosa Plastics Group, Georgia Gulf Corporation, China Petrochemical Development Corporation, Koch Industries, Ineos Group Limited, Petroleos de Venezuela S.A. Mitsui & Co. LTd., Aramco Services Company, CEPSA, Eni Spa, Sunoco.
To get latest version of cumene market report can be obtained on demand from the website.
The base year for the report is 2023 in cumene market.