New York, NY -- (SBWIRE) -- 03/10/2021 -- Surging demand for acetone as a solvent is one of the significant factors influencing market growth.

Market Size – USD 20.76 billion in 2018, Market Growth - CAGR of 3.7%, Market Trends – Growing use of Cumene in adhesive and sealant chemicals

The global Cumene Market is expected to reach USD 29.04 Billion by 2027, according to a new report by Reports and Data. Cumene is used as a raw material in the production of phenol, which finds extensive application in the plastic industry as a starting material in the polymerization reaction for producing various types of plastics. It is used to produce a broad range of polymers which are used to synthesize epoxide resins and polycarbonates used in the manufacturing of plastics.

The report systematically segments the market to provide a more in-depth understanding of the market's distinctive aspects. Besides inspecting the financial positions of the leading companies in this industry, the report carefully evaluates the gross profits, revenue shares, sales volume, manufacturing costs, individual growth rate, and numerous other financial ratios of these market players. Reports and Data's expert team of researchers have vividly pictured the global market scope over the projected timeline and analyzed the growth prospects of the new market entrants leveraging a set of advanced analytical tools, including the SWOT analysis, Porter's Five Forces Analysis, and investment assessment..

The key market players profiled in the report:

Royal Dutch Shell PLC, ExxonMobil Corporation, BASF SE, Dow Chemical Company, JXTG Holdings, China Petroleum & Chemical Corporation, INEOS Group, Borealis, Sinopec Group Ltd., and LG Chem Ltd., among others.

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Further key findings from the report suggest

- By raw materials, benzene contributed to a larger market share in 2018 and is expected to grow at a rate of 3.4% in the forecast period.
- By production method, the zeolite catalyst-based production method dominated the market in 2018. The industrial alkylation processes for the production of cumene, most commonly use zeolites for use as catalyst owing to its eco-friendly attribute and efficiency. Zeolites diminish the formation of by-products, including n-propylbenzene and propylene oligomers, both of which reduce the quality of the final product.
- By application, phenol held the largest market share in 2018 and is expected to grow at a rate of 3.5% in the forecast period. Phenol is used in industries such as raw material to produce plastics, explosives like picric acid, and drugs, for instance, aspirin. The common phenol hydroquinone is the constituent of photographic developer that is used in the reduction of exposed silver bromide crystals to black metallic silver.
- The market in the Asia Pacific region contributed to the largest market share in 2018 and is expected to grow at a rate of 4.3% in the forecast period. The emerging economies in the APAC region are projected to foresee constant growth due to the overall growth of the economy. Additionally, increased investments by leading market players along with a rise in the level of the disposable income of people in the region are causative of the growth of the market.

Raw Materials Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Propylene
Benzene

Production Method Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Aluminum Chloride Catalyst
Solid Phosphoric Acid (SPA) Catalyst
Zeolite Catalyst

Applications Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Phenol
Acetone
Others

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Key Takeaways from the Global Cumene Market report:

- The global Cumene market report entails a broad product segmentation.
- It methodically evaluates the overall product expanse of this business space.
- The report covers pivotal information about the accrued market share of each product type, their profit estimations, and production growth graph.
- The report provides the reader with a generic summary of the application gamut of the global Cumene market.
- The report further details the market share and product demand for each application segment.
- The study estimates the growth rate of each application segment over the projected timeframe.
- Moreover, the report offers crucial information on the different parameters boosting the global market expansion, such as raw material production and market concentration rates.

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Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Global Cumene Market: Table of Contents

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Cumene Segmentation & Impact Analysis
    4.1. Cumene Material Segmentation Analysis
    4.2. Industrial Outlook
         4.2.1. Market indicators analysis
         4.2.2. Market drivers analysis
                 4.2.2.1. Surging demand for acetone as a solvent
                 4.2.2.2. Growing demand for phenol from the plastic industry
                 4.2.2.3. Growing use of Cumene in adhesive and sealant chemicals
         4.2.3. Market restraints analysis
                 4.2.3.1. Hazardous effect on human health
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. ETOP Analysis
    4.6. Porter's Five Forces Analysis
    4.7. Competitive Metric Space Analysis
    4.8. Price trend Analysis

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