The global cumene
market is expected to reach USD 28.2 billion by 2025, according to
a new report by Grand View Research, Inc. Rising demand for phenol from various
key end use applications such as construction materials, pharmaceuticals, and
adhesives, coupled with advancements in the production process of the chemical
is expected to drive market growth over the forecast period.
Cumene or isopropylbenzene is derived from the
reaction between benzene and propylene. It is produced by using catalysts such
as zeolite, aluminum chloride, and phosphoric acid. Isopropylbenzene is mainly
used for the production of acetone and phenol. The usage of aluminum chloride
and solid phosphoric acid as catalysts in the production process have several
disadvantages such as environmental hazard, catalyst non-renewability and high
corrosion. These factors have resulted in a shift toward using zeolite as
catalysts for production.
Phenol application segment dominated the global demand
in 2016. Cumene is mainly used for the production of various phenol derivatives,
which includes bisphenol A, caprolactam, and alkyl phenols. These byproducts
are used in end use industries such as household appliances, adhesives,
construction materials and electronic appliances. The global growth in
construction, packaging, electronics and pharmaceuticals industry is expected
to contribute a rise in demand for phenol byproducts thus benefitting the
overall cumene market growth over the forecast period.
Excessive exposure of cumene can cause adverse effects
on human health such as dizziness, headaches, and unconsciousness. It also
causes irritation of skin and eyes. Fluctuating oil & gas prices is a cause
of concern for cumene producers. However, major producers have integrated
themselves among the value chain to deal with price fluctuations.
Browse full research report on Cumene Market: https://www.grandviewresearch.com/industry-analysis/cumene-market
Further
key findings from the report suggest:
- Zeolite production process emerged as the largest segment in 2016
and is expected to generate USD 17.9 billion by 2025. The segment is
expected to grow at an expected CAGR of 4.3% over the next eight years.
- Phenol segment is expected to grow at an anticipated CAGR of 4.8%
over the forecast period. Strong demand from end use industries such as
construction and electronics for by products is a major contributing
factor for this scenario.
- The market in Asia Pacific region is projected to witness
substantial growth over the forecast period owing to strong demand from
countries such as China, India, Japan and South Korea
- Key industry participants include ExxonMobil, BASF SE, China
Petroleum & Chemical Corporation, Total S.A., Sinopec Group Ltd.,
Saudi Basic Industries Corporation, and Dow Chemical Company
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand
View Research has segmented the cumene market on the basis of production,
application, and region:
Production
Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)
- Zeolite
- Solid
Phosphoric Acid
- Aluminum
Chloride
Application
Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)
- Phenol
- Phenol
resins
- Caprolactam
- Bisphenol A
- Alkyl
phenols
- Others
- Acetone
- Solvent use
- Methyl
Methacrylate
- Bisphenol A
- Aldol
chemicals
- Others
- Others
Regional
Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- South Korea
- Central &
South America
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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