According to ChemAnalyst report, “Global Cumene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, The Cumene market will likely experience a significant rise and reach approximately 25 million tonnes, at an expected CAGR of 4.10% during the forecast period by 2032. The rising demand for Cumene in Phenol, Acetone, and other end-use industries, is anticipated to grow the demand for the Cumene market in the forecast period.

Cumene is an organic chemical compound with a chemical formula such as C9H12. This compound is synthesized by an alkylation reaction of benzene with propylene in the presence of solid phosphoric acid as the catalyst. Cumene is a flammable liquid and serves as a component of crude oil. Cumene is a naturally occurring component of coal tar and petroleum and is used as a thinner for paints, lacquers, and enamels. Cumene is utilized for the production of various chemicals such as acetophenone, methyl styrene, phenol, and acetone.

The Cumene market globally is driven by the manufacturing of Phenol and Acetone. Acetone is one of the main ingredients in nail polish remover and serves as a thinner in creams and body lotions. Acetone is a solvent in oils, fats, waxes, and adhesives. Phenol and its derivatives are employed in the production of manufacture of general-use goods like plastic containers. The growing demand for Phenol and acetone for application in the pharmaceutical, cosmetics, industrial, and plastic production industries is anticipated to propel the demand for Cumene in the forecast period.

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The global Cumene market is segmented based on end-use, sales channel, and region. Based on demand, Asia Pacific is the largest player in the global Cumene market. In 2021, this region consumed approximately half of the global Cumene market 2021. It is anticipated that Asia Pacific will continue to dominate the market in the coming years, with the growing demand for Cumene and its derivatives due to the expanding construction activity and manufacturing in developing nations.

Based on end-uses, the Cumene market is segregated into Phenol, Acetone, and Others. The Phenol and Acetone industries are both prominent consumers of the global Cumene market. But, by a small margin, the Phenol industry has captured a higher share of the global Cumene market and held a market share of nearly 50% of the Cumene market in 2021. It is anticipated to remain these industries will remain the most significant consumers of Cumene in the forecast period.

Read the Full Report: https://www.chemanalyst.com/industry-report/cumene-market-55

“Global Cumene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, the significant players functional in the Cumene market are Cepsa Corporation, Ineos Group Ltd, Shell Plc, CITGO Petroleum Corporation, Flint Hills Resources, PTT Phenol, Formosa Chemical and Fibre, Sunoco, Kumho P&B Chemicals., Inc., Versalis, Mitsui Phenols Singapore Ltd, and Marathon Petroleum Corporation (MPC).

“The increasing demand for phenol and acetone will result in a higher demand of their feedstock chemical, Cumene. The rising demand of phenol and acetone to manufacture medicines, oils, waxes, polymers, cosmetics, and other general-use commodities is expected to drive the Global Cumene market in the forecast period until 2032. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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