Global Cumene market 2024-2030

Cumene is found in liquid form. It is a colorless and clear liquid which has an aromatic smell. The molecular weight of cumene is recorded at 120.2 (g/mol) and has the melting point of -96 `C. It can be seen used in multiple industries. Some common places where cumene are used are petroleum products, thinner for paints, lacquers, enamels and high-octane fuels. It can also be seen in production of acetophenone, acetone, methyl styrene and phenol.

The report on global cumene market reveals the present market scenario by conducting over 280 hours of primary and secondary research. As per the report, global cumene market is growing its area and effective sphere of influence very fast and is gaining popularity. The global cumene market was valued at US $ xxx billion in the year 2018 and it is estimated that the value of cumene market will grow at a healthy rate and end up reaching US $ xxx million by the year 2023. The annual growth rate of global cumene market is predicted to be xx % for the projected period.

Cumene market is said to have multiple driving factors one of the most important factor for the growth of cumene market is the rising population. Due to rising population cumene market is said to increase drastically. In addition, with increase in income of individuals in the 21stcentury has opened new doors for this market. Apart from population and increase in rising population, there are major development processes being used in the chemical industry all around the world. Phenolic resins are also playing their roles in increasing the market for this product. There is a major growth in production of bisphenol-A for the production of polycarbonate and epoxy resins as well as growing demand of phenol which is used in multiple products such as composites, plastics and laminates are said to increase the growth of this market.

With great growth drivers there are some shortcoming which the cumene market has to face. There are major ups and downs in the oil industry due to pricing of cumene market can highly get affected. Apart from these volatile pricing cumene can also be a bad influence for your health as cumene is widely connected to some of the hazardous diseases.

In the region wise growth of this market, Asia Pacific, Latin America and Middle East & Africa were the key market for cumene market and it was observed that, these regions combined, accounted for more than half market if we talk interms of volume. It is expected that these three regions will continue to be a dominant market place in the coming years. The main reason behind such a significant growth in these regions is due to increasing urbanization, with addition to urbanization people in these regions are anticipating increase in their per capita and disposable income due to which they are changing the ways that they used to live in.

The key players in the cumene market are Royal Dutch Shell PLC, Exxon Mobil Corporation, Total S.A, BP PLC, Sumitomo Chemical Co., Axiall Corporation, SABIC, BASFSE, The Dow Chemical Company, and JX Nippon Oil.

The research modus operandi starts with the bifurcation of diverse market segments of global cumene market, followed by the recognition of factors affecting the growth of each segment. Then, the market forecasts are built based on the inputs given by the business leaders across global cumene industry value chain. Market Krystal held more than 40 interviews for this study, details of which are mentioned:

By company type:

Manufacturers (35%), Suppliers (35%), Consumers (10%), Researchers (10%), Independent industry consultant (10%)

By geography:

North America (35%), Asia (30%), Europe (35%)

By designation:

Top level (40%), Operation level (30%), Mid-level (30%)

Contents of the report:

• Insights on the global cumene Industry dynamics
• Current estimation of the global cumene market size in terms of value and volume
• Global cumene market breakup based on product type and application.
• Authenticated global cumene market forecast for the next five years
• Detailed analysis of the key companies operating across different nodes of global cumene industry value chain.

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