Cumene Market Share

The global Cumene market size was valued at $18.6 billion in 2020, and is projected to reach $28.0 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.

PORTLAND, OREGON, UNITED STATES,, November 23, 2023 /EINPresswire.com/ -- Allied Market Research has released a report titled "Cumene Market By Production Technology (Zeolite, Solid Phosphoric Acid, Aluminum Chloride), By Application (Phenol, Acetone, Others): Global Opportunity Analysis And Industry Forecast, 2021-2030." The global cumene industry, valued at $18.6 billion in 2020, is anticipated to grow at a CAGR of 4.3% and reach $28.0 billion by 2030.

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Market Dynamics:

Drivers: The rise in demand for phenol and acetone derivatives, especially in applications like phenolic resins and bisphenol-A, is a primary growth driver. Additionally, the expanding aviation industry and increased demand for paint and enamels present new opportunities.

Restraints: Fluctuations in crude oil prices and potential health hazards associated with cumene usage act as constraints on market growth.

Opportunities: The rapid expansion of the aviation industry and the growing demand for paints and enamels are identified as promising opportunities in the coming years.

Covid-19 Impact: The Covid-19 pandemic negatively impacted the cumene market due to reduced demand for phenol and acetone derivatives, disruptions in the supply chain, and decreased demand from end-user industries. However, a steady rise in demand is anticipated post-lockdown.

Get Detailed COVID-19 Impact Analysis on the Cumene Market at https://www.alliedmarketresearch.com/request-for-customization/1984?reqfor=covid

Segment Insights:

Production Technology: The zeolite segment dominated the market in 2020, contributing over half of the global cumene market share. It is projected to maintain this position, exhibiting the highest CAGR of 4.4% during the forecast period.

Application: Phenol held the highest market share in 2020, making up nearly three-fourths of the global cumene market. It is expected to continue leading, with the largest CAGR of 4.4% during the forecast period.

𝐃𝐨 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/1984

Regional Outlook:

Asia-Pacific Dominance: Asia-Pacific, Europe, and North America collectively accounted for nearly half of the global cumene market share in 2020. Asia-Pacific is predicted to register the largest CAGR of 4.6% during the forecast period, driven by industrialization and increased usage in cosmetics and personal care product manufacturing.
Key Players:

Royal Dutch Shell Plc.
Exxon Mobil Corporation
Total S.A.
BP Plc.
Sumitomo Chemical Co.
Axiall Corporation
SABIC
BASF SE
The Dow Chemical Company
JX Nippon Oil

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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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Allied Market Research
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