Cumene Market Drivers and Opportunities - 2031
The Cumene Market is expected to register a CAGR of 4.0% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The cumene market is segmented into type, application, and geography. Based on type, the market is segmented into phenol, acetone, and others. Based on application, the market is segmented into paints and coatings, aviation, automotive, agriculture, textile, water treatment, and others. The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Cumene Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Cumene Market Segmentation
Type- Phenol
- Acetone
- Others
- Paints and Coatings
- Aviation
- Automotive
- Agriculture
- Textile
- Water Treatment
- Others
Strategic Insights
Cumene Market Growth Drivers- Rising Demand for Cumene in Key Chemical Sectors: Cumene is an important intermediate for the production of two major chemical products: phenol and acetone. These have significant applications in plastics, pharmaceuticals, and other automotive industries. With new applications and increased production capacities, the demand for cumene is expected to increase multi-fold.
- Cumene Production Technologies Evolve: The world chemical industry is growing fast, spurred by the forces of urbanization, industrialization, and higher consumer disposable incomes. Such results are translated into greater demands for such chemical intermediates as cumene. As developing countries become more sophisticated, the need for such a critical raw material as cumene will continue to grow.
- Cumene Market Growth Driven by Increased Demand for Chemical Intermediates: Cumene production technologies and processes are getting better with more efficient catalytic processes for the production of cumene. Thus, the output becomes cheaper and better, making it an economically better and greener product, thereby boosting cumene's market growth further. An investment in R&D, through which companies enhance their production efficiency, will give them a better competitive advantage in the cumene market.
- Sustainability and Bio-Based Alternatives: Rededicated sustainable strategy and growing demand from every industry sector for bio-based chemicals adjust the requirements in these markets. As more options for bio-based alternatives emerge, the traditional petrochemical pathways are substituted, and thereby, the demand for the conventional cumene may shift. This has challenged the production of bio-cumene, with the goal of leading to a greener chemical manufacturing process.
- Cumene Market Dynamics: Innovation, Geopolitical Disruptions, and Shifting Production Strategies: The trend here is that while the cumulative manufacturers are so aligning their production strategies to meet the needs of important end-users such as automobile and electronics, increasing emphasis on lightweight materials and advanced manufacturing techniques would drive innovations in cumene derivatives, open new routes for applications, and boost demand.
- Geopolitical Tensions and Bio-Cumene Production: The recent geopolitical situation has created tensions across the globe, significantly affecting supply chains due to disruptions in producing raw materials. Companies are, therefore, opting for diverse sources and are setting up local production facilities to reduce risks and boost resilience. The geopolitical scenario and disrupted global supply chain dynamics have hence influenced market strategy and operational frameworks in the cumene market.
- Growth Opportunities for Cumene in Emerging Economies: Emerging economies in Asia-Pacific and Latin American regions are rapidly industrializing and urbanizing, which offers a tremendous growth opportunity for the cumene market. Increased infrastructure development and growing disposable incomes have generated demand for chemicals in construction, automotive, and consumer goods, which bodes well for the producers of cumene.
- Sustainable Strategies and Technological Innovations: Companies will be able to invest in new technologies in production, that is increase production volume while minimizing impacts on the environment. Diversification in alternative raw material input and catalytic operation improvements are therefore necessary as the way to become leaders in sustainable chemical manufacturing, more so with environmentally sensitive consumers and regulatory agencies.
- Cumene Derivatives in Niche Markets and Specialty Applications: Increased demand for specialty chemicals in niche market areas affords room for cumene derivatives. By developing niche products for distinct applications, producers of cumene can address sectors like agriculture and pharmaceuticals, as well as segments of personal care applications, which helps boost other high-margin segments of growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cumene Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Cumene Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Cumene Market is estimated to witness a CAGR of 4.0% from 2023 to 2031
The major factors driving the cumene market are:
1.Growth of Chemical Industry
2. Technological Advancements
INEOS; KASEIHIN SHOJI CO., LTD.; KUMHO P and B CHEMICALS.,INC.; Santa Cruz Biotechnology, Inc.; Lummus Technology; Otto Chemie Pvt. Ltd.; KANTO KAGAKU.; Junsei Chemical Co.,Ltd.; Tokyo Chemical Industry (India) Pvt. Ltd.; Mitsubishi Chemical Corporation are some of the players operating in the market.
On the basis of geography, the cumene market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Shift towards biobased chemicals is expected to be the key market trend.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Cumene Market - By Application
1.3.2 Cumene Market - By Method Type
1.3.3 Cumene Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CUMENE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. CUMENE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. CUMENE MARKET - GLOBAL MARKET ANALYSIS
6.1. CUMENE - GLOBAL MARKET OVERVIEW
6.2. CUMENE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CUMENE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. PHENOL
7.3.1. Overview
7.3.2. Phenol Market Forecast and Analysis
7.4. ACETONE
7.4.1. Overview
7.4.2. Acetone Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. CUMENE MARKET - REVENUE AND FORECASTS TO 2028 - METHOD TYPE
8.1. OVERVIEW
8.2. METHOD TYPE MARKET FORECASTS AND ANALYSIS
8.3. ZEOLITE
8.3.1. Overview
8.3.2. Zeolite Market Forecast and Analysis
8.4. ALUMINUM CHLORIDE
8.4.1. Overview
8.4.2. Aluminum Chloride Market Forecast and Analysis
8.5. SOLID PHOSPHORIC ACID
8.5.1. Overview
8.5.2. Solid Phosphoric Acid Market Forecast and Analysis
9. CUMENE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Cumene Market Overview
9.1.2 North America Cumene Market Forecasts and Analysis
9.1.3 North America Cumene Market Forecasts and Analysis - By Application
9.1.4 North America Cumene Market Forecasts and Analysis - By Method Type
9.1.5 North America Cumene Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Cumene Market
9.1.5.1.1 Canada Cumene Market by Application
9.1.5.1.2 Canada Cumene Market by Method Type
9.1.5.2 Mexico Cumene Market
9.1.5.2.1 Mexico Cumene Market by Application
9.1.5.2.2 Mexico Cumene Market by Method Type
9.1.5.3 US Cumene Market
9.1.5.3.1 US Cumene Market by Application
9.1.5.3.2 US Cumene Market by Method Type
9.2. EUROPE
9.2.1 Europe Cumene Market Overview
9.2.2 Europe Cumene Market Forecasts and Analysis
9.2.3 Europe Cumene Market Forecasts and Analysis - By Application
9.2.4 Europe Cumene Market Forecasts and Analysis - By Method Type
9.2.5 Europe Cumene Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Cumene Market
9.2.5.1.1 Germany Cumene Market by Application
9.2.5.1.2 Germany Cumene Market by Method Type
9.2.5.2 France Cumene Market
9.2.5.2.1 France Cumene Market by Application
9.2.5.2.2 France Cumene Market by Method Type
9.2.5.3 Italy Cumene Market
9.2.5.3.1 Italy Cumene Market by Application
9.2.5.3.2 Italy Cumene Market by Method Type
9.2.5.4 United Kingdom Cumene Market
9.2.5.4.1 United Kingdom Cumene Market by Application
9.2.5.4.2 United Kingdom Cumene Market by Method Type
9.2.5.5 Russia Cumene Market
9.2.5.5.1 Russia Cumene Market by Application
9.2.5.5.2 Russia Cumene Market by Method Type
9.2.5.6 Rest of Europe Cumene Market
9.2.5.6.1 Rest of Europe Cumene Market by Application
9.2.5.6.2 Rest of Europe Cumene Market by Method Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Cumene Market Overview
9.3.2 Asia-Pacific Cumene Market Forecasts and Analysis
9.3.3 Asia-Pacific Cumene Market Forecasts and Analysis - By Application
9.3.4 Asia-Pacific Cumene Market Forecasts and Analysis - By Method Type
9.3.5 Asia-Pacific Cumene Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Cumene Market
9.3.5.1.1 Australia Cumene Market by Application
9.3.5.1.2 Australia Cumene Market by Method Type
9.3.5.2 China Cumene Market
9.3.5.2.1 China Cumene Market by Application
9.3.5.2.2 China Cumene Market by Method Type
9.3.5.3 India Cumene Market
9.3.5.3.1 India Cumene Market by Application
9.3.5.3.2 India Cumene Market by Method Type
9.3.5.4 Japan Cumene Market
9.3.5.4.1 Japan Cumene Market by Application
9.3.5.4.2 Japan Cumene Market by Method Type
9.3.5.5 South Korea Cumene Market
9.3.5.5.1 South Korea Cumene Market by Application
9.3.5.5.2 South Korea Cumene Market by Method Type
9.3.5.6 Rest of Asia-Pacific Cumene Market
9.3.5.6.1 Rest of Asia-Pacific Cumene Market by Application
9.3.5.6.2 Rest of Asia-Pacific Cumene Market by Method Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Cumene Market Overview
9.4.2 Middle East and Africa Cumene Market Forecasts and Analysis
9.4.3 Middle East and Africa Cumene Market Forecasts and Analysis - By Application
9.4.4 Middle East and Africa Cumene Market Forecasts and Analysis - By Method Type
9.4.5 Middle East and Africa Cumene Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Cumene Market
9.4.5.1.1 South Africa Cumene Market by Application
9.4.5.1.2 South Africa Cumene Market by Method Type
9.4.5.2 Saudi Arabia Cumene Market
9.4.5.2.1 Saudi Arabia Cumene Market by Application
9.4.5.2.2 Saudi Arabia Cumene Market by Method Type
9.4.5.3 U.A.E Cumene Market
9.4.5.3.1 U.A.E Cumene Market by Application
9.4.5.3.2 U.A.E Cumene Market by Method Type
9.4.5.4 Rest of Middle East and Africa Cumene Market
9.4.5.4.1 Rest of Middle East and Africa Cumene Market by Application
9.4.5.4.2 Rest of Middle East and Africa Cumene Market by Method Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Cumene Market Overview
9.5.2 South and Central America Cumene Market Forecasts and Analysis
9.5.3 South and Central America Cumene Market Forecasts and Analysis - By Application
9.5.4 South and Central America Cumene Market Forecasts and Analysis - By Method Type
9.5.5 South and Central America Cumene Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Cumene Market
9.5.5.1.1 Brazil Cumene Market by Application
9.5.5.1.2 Brazil Cumene Market by Method Type
9.5.5.2 Argentina Cumene Market
9.5.5.2.1 Argentina Cumene Market by Application
9.5.5.2.2 Argentina Cumene Market by Method Type
9.5.5.3 Rest of South and Central America Cumene Market
9.5.5.3.1 Rest of South and Central America Cumene Market by Application
9.5.5.3.2 Rest of South and Central America Cumene Market by Method Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. CUMENE MARKET, KEY COMPANY PROFILES
11.1. AXIALL CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BASF SE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DOW CHEMICAL COMPANY
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EXXONMOBIL CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. JX HOLDINGS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. LG CHEM LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ROYAL DUTCH SHELL PLC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SABIC
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SUMITOMO CHEMICAL CORPORATION
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TOTAL S.A.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Axiall Corporation
2. BASF SE
3. Dow Chemical Company
4. ExxonMobil Corporation
5. JX Holdings
6. LG Chem Ltd.
7. Royal Dutch Shell PLC
8. SABIC
9. Sumitomo Chemical Corporation
10. Total S.A.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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