Cumene Market Global Industry Analysis Report - Forecast on 2023
Cumene Market Report: Top Key Player Some of the prominent key players in the global cumene market are Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (U.S.), BASF SE (Germany), Sumitomo Chemical Co. Ltd (Japan), The Dow Chemical Company (U.S.), Westlake Chemical Corporation (U.S.), Taiwan Cement Corp. (Taiwan), Braskem (Brazil), China Petrochemical Corporation (China), and SABIC (Saudi Arabia). Cumene Market Report: Overview Cumene Market by Product (Phenol And Acetone), Production Technology (Zeolite-Based Catalyst, Solid Phosphoric Acid, Aluminum Chloride), Application (Chemical Intermediate And Solvent) And Region Forecast Till 2023 The global cumene market is majorly driven by its application as a chemical intermediate to produce phenol and acetone. The phenol and its derivatives produced from cumene accounted to have the major share due to wide applications in various end-use industries such as electrical & electronics, automotive, paints & coatings, cosmetics, and others
Cumene Market Report: Competitive Analysis Cumene market is highly fragmented market with tier 1 and tier 2 players dominating the overall market. The major strategies adopted by key players are expansion, collaborations or partnerships. In order to meet regulations, set by various bodies of respective regions, manufacturer is entering into agreement with raw material supplier to maintain profit across the value chain. In highly competitive market, companies are investing more in innovations and brand building thereby, fostering the strong relationship with customer. On other hand, major players are carrying out research & development activities to improve the existing manufacturing process of cumene. Cumene Market Report: Market Segmentation
The global cumene market is segmented on the basis of the product, production technology, application, and region. • • •
Based on the product, the global cumene market is segregated into phenol and acetone. The production technology of cumene is segmented into zeolite catalyst based, solid phosphoric acid, and aluminum chloride. On the basis of the application segment, the global cumene market is segmented into chemical intermediate and solvent.
Cumene Market Report: Regional Analysis The global cumene market is spanned across five regions Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The Asia Pacific is expected to lead the global cumene market due to the high demand for phenolic based products used for various applications such as electronics, paints & coatings, automotive, and others in countries such as China, India, and Japan. The U.S. is the major contributor to the North American market due to the high use of cumene based products in electronics such as laptops, smartphones, and others. Europe is likely to witness a substantial market growth due to the increasing demand for cumene from plastics and composites industries.
Latin American and the Middle East & Africa are other significant regions in the cumene market
rimarily driven by the growing automotive sector and consumer electronics respectively.