Cumene Market Report 2023

Cumene Global Market Report 2023 – By Manufacturing Process (Aluminum Chloride Catalyst, Solid Phosphoric Acid (SPA) Catalyst, and Zeolite Catalyst), By Application (Phenol, Acetone, Chromatography, Other Applications), By End Userr Industry (Paints Industry, Automotive Industry, Chemical Industry, Plastics Industry, Other End-User Industries) – Market Size, Trends, And Global Forecast 2023-2032

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Cumene is a colorless, flammable liquid and has a penetrating, gasoline-like odor. Cumene is a combination of crude oil and refined fuels. It comprises a benzene ring with an isopropyl substitution.

The main manufacturing processes of cumene are aluminum chloride catalyst, solid phosphoric acid (spa) catalyst, and zeolite catalyst. Cumene is a colorless, flammable liquid and has a penetrating, gasoline-like odor. The main applications of cumene include phenol, acetone, chromatography, and other applications. The various end-user industries of cumene are the paint industry, automotive industry, chemical industry, plastics industry, and other end-user industries.

The global cumene market 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 global cumene market size will grow from $26.24 billion in 2022 to $27.22 billion in 2023 at a compound annual growth rate (CAGR) of 3.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global cumene is expected to grow from $31.35 billion in 2027 at a CAGR of 3.6%.

Rising demand for phenols and acetones in various industries contributes to the growth of the cumene market. Acetone is used as a solvent in the pharmaceutical and cosmetic industries. Phenols are used for the production of epoxy resins used in paints and coatings. As a result, strong demand for phenols and acetones has resulted in their oversupply. The demand for acetone and phenol is increasing at a significant rate relative to supply, which offers new manufacturers great potential for establishing their facilities. The cumene market is expected to see a high growth rate during the forecast period due to an increase in global demand for acetone. For instance, according to the 2021 acetone market development report by ECHEMI, a Hong Kong-based chemical supply chain service company, the global acetone production capacity is expected to grow steadily in 2022 at an average rate of 2.1% from 2018 to 2022. Rising demand for phenols and acetones drove the cumene market.

Major players in the cumene market report are Royal Dutch Shell PLC., Exxon Mobil Corporation, BP PLC., Sumitomo Chemical Co. Ltd., BASF SE, The Dow Chemical Company, China Petroleum and Chemical Corporation, Ineos Group Limited, and CEPSA.

Rising demand for phenols and acetones in various industries contributes to the growth of the cumene market. Cumene is used as a feedstock in the production of phenol and acetone. Acetone is used as a solvent in the pharmaceutical and cosmetic industries, whereas phenols are used for the production of paints and coatings. Thus, strong demand for phenols and acetones has resulted in a rise in the demand for cumene. For instance, according to the 2021 acetone market development report by ECHEMI, a Hong Kong-based chemical supply chain service company, the global acetone production capacity is expected to grow steadily in 2022 at an average rate of 2.1% from 2018 to 2022. Thus, the rising demand for phenols and acetones positively drives the growth of the cumene market.

Companies in the cumene market are investing to meet the future demand. For instance, in Germany, INEOS Phenol, the world’s largest producer of acetone and phenol, has already made a new cumene investment at the Evonik Chemiepark in Marl. The fully integrated unit will use existing pipeline connections between the production of INEOS phenol and acetone in Gladbeck, the Marl site of Evonik Chemiepark, and the Gelsenkirchen refinery and cracker complex of BP. The new 750,000-tonne cumene unit was expected to be completed in 2021, will meet future demand and improve supply protection for INEOS plants in Gladbeck and Antwerp. In addition, in August 2021, Lummus Technology, a global licensor of proprietary petrochemical, refining, gasification and gas processing technologies achieved successful plant acceptance from Formosa Chemicals and Fibre Corp., a Taiwan-based chemicals company for the firm’s cumene and phenol plant expansion in Ningbo, China. The plant now boasts a 600 kMTA cumene and 400 kMTA phenol capacity.

In August 2022, Ineos, a UK-based chemicals company acquired all the assets of Mitsui Phenol Co. Ltd., located in Jurong Island, Singapore, from Mitsui Chemicals for $330 million. The acquisition strengthens the existing portfolio of Ineos and enable integration of business while adding around 1 million tons of production capacity including of cumene. Mitsui Chemicals is a Japanese chemicals company.

Asia-Pacific was the largest region in the cumene market in 2022. Middle East was the second-largest region in the global cumene market share. The regions covered in the cumene market insights report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the cumene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.

The cumene market consists of the sales of cumene used in the production of iron, steel, rubber, pulp, and paper. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The cumene market research report is one of a series of new reports from The Business Research Company that provides cumene market statistics, including cumene industry global market size, regional shares, competitors with a cumene market share, detailed cumene market segments, market trends and opportunities, and any further data you may need to thrive in the cumene industry. This comprehensive market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

    Table Of Contents

    1. Executive Summary

    2. Cumene Market Characteristics

    3. Cumene Market Trends And Strategies

    4. Cumene Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Cumene Market

    4.2 Ukraine-Russia War Impact On Cumene Market

    4.3 Impact Of High Inflation On Cumene Market

    5. Cumene Market Size And Growth

    5.1. Global Cumene Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Cumene Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Cumene Market Segmentation

    6.1. Global Cumene Market, Segmentation By End Userr Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Paints Industry

    Automotive Industry

    Chemical Industry

    Plastics Industry

    Other End-User Industry

    6.2. Global Cumene Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Phenol

    Acetone

    Chromatography

    Other Applications

    6.3. Global Cumene Market, Segmentation By Manufacturing Process, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Aluminum Chloride Catalyst

    Solid Phosphoric Acid (SPA) Catalyst

    Zeolite Catalyst

    7. Cumene Market Regional And Country Analysis

    7.1. Global Cumene Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Cumene Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Cumene Market

    8.1. Asia-Pacific Cumene Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Cumene Market

    9.1. China Cumene Market Overview

    9.2. China Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Cumene Market

    10.1. India Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Cumene Market

    11.1. Japan Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Cumene Market

    12.1. Australia Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Cumene Market

    13.1. Indonesia Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Cumene Market

    14.1. South Korea Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Cumene Market

    15.1. Western Europe Cumene Market Overview

    15.2. Western Europe Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Cumene Market

    16.1. UK Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Cumene Market

    17.1. Germany Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Cumene Market

    18.3. France Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Cumene Market

    19.1. Eastern Europe Cumene Market Overview

    19.2. Eastern Europe Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Cumene Market

    20.1. Russia Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Cumene Market

    21.1. North America Cumene Market Overview

    21.2. North America Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Cumene Market

    22.1. USA Cumene Market Overview

    22.2. USA Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Cumene Market

    23.1. South America Cumene Market Overview

    23.2. South America Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Cumene Market

    24.1. Brazil Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Cumene Market

    25.1. Middle East Cumene Market Overview

    25.2. Middle East Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Cumene Market

    26.1. Africa Cumene Market Overview

    26.2. Africa Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Cumene Market Competitive Landscape And Company Profiles

    27.1. Cumene Market Competitive Landscape

    27.2. Cumene Market Company Profiles

    27.2.1. Royal Dutch Shell PLC.

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Exxon Mobil Corporation

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. BP PLC.

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Sumitomo Chemical Co Ltd

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. BASF SE

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Cumene Market

    29. Cumene Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Cumene Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Cumene Market, Segmentation By Manufacturing Process, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Cumene Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Cumene Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: China, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: India, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: Japan, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Australia, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Indonesia, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: South Korea, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: Western Europe, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: UK, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: Germany, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: France, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Russia, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: North America, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: USA, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: South America, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: Brazil, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Middle East, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Africa, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Royal Dutch Shell PLC. Financial Performance
  • Table 28: Exxon Mobil Corporation Financial Performance
  • Table 29: BP PLC. Financial Performance
  • Table 30: Sumitomo Chemical Co Ltd Financial Performance
  • Table 31: BASF SE Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Cumene Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Cumene Market, Segmentation By Manufacturing Process, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Cumene Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Cumene Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: China, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: India, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: Japan, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Australia, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Indonesia, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: South Korea, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: Western Europe, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: UK, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: Germany, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: France, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Russia, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: North America, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: USA, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: South America, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: Brazil, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Middle East, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Africa, Cumene Market, Segmentation By End Userr industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Royal Dutch Shell PLC. Financial Performance
  • Figure 28: Exxon Mobil Corporation Financial Performance
  • Figure 29: BP PLC. Financial Performance
  • Figure 30: Sumitomo Chemical Co Ltd Financial Performance
  • Figure 31: BASF SE Financial Performance
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