Cumene market Overview:
Cumene also known as isopropylbenzene is a flammable compound and is a colorless liquid. These are used in preparing phenols and acetone, intermediates in adhesives & sealants and many more. The increase in demand for phenolic resins and acetone offers maximum market for Cumene. Netherlands tops the list of the countries that export Cumene in 2017 with an export quantity of 519,305 tons followed by Japan with 517,621 tons and Singapore with 429,777 tons. Imports quantity being considered Belgium stood in the first place with a total import quantity of 827,755 tons followed by China with 584,295 tons and Taiwan with 151,050 tons of Cumene being imported. The CAGR of total exports of Cumene in the world from 2013 to 2017 is 0.024%.
Cumene market Outlook:
Cumene when mixed with other compounds finds its applications in various end-user industries. Cumene mixed with peroxide gives Cumene hydroperoxide which is used as a thinner in paints. Cumene hydroperoxide is also used in various protein synthesis processes.
Methylstyrene which is derived from Cumene is used in rubber industry. Cumene when reacted with aldehyde is used as flavorings in various food products.
Cumene market Growth drivers:
The major growth drivers for the Cumene market is the growing demand for phenols and acetones in various industries. Phenols are used to produce epoxy resins which are used in paints and coatings. In addition, increase in demand for the laminates and plastics industries has increased in the demand for Cumene which is also a driver for this market.
The demand for benzene in various applications like petrochemical and many more is also a key driver for Cumene as it is used as a constituent in benzene.
Cumene market Challenges:
When the processed petroleum products like Cumene are released in to the environment they cause health issues like skin irritation, headache. Cumene is prepared from benzene, which is much dependent on the crude oil prices. Therefore, when the prices of crude oil increases the production costs of benzene increases which in turn increases the production prices for Cumene.
Cumene market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Cumene market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the Cumene market, and their specific applications in different types of vehicles.
Cumene market Report: Industry Coverage:
Cumene market –By Manufacturing process: Distillation of coal tar & petroleum fractions, Alkylation of benzene and propene using catalyst.
Cumene market –By Application: Phenols, Acetone, Thinner and others.
Cumene market –By End-user industry: Paints industry, Automotive industry, Chemical industry, Plastics industry and others.
The Cumene market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Cumene market Key Players Perspective:
Some of the key players in the Cumene market are BASF, Sigma-Aldrich, The Dow Chemical Company, Tata Chemicals Limited, KMG Chemicals, Koch industries, INEOS Group Limited and many more.
Market Research and Market Trends of Cumene market:
- INEOS Group a key player in Cumene market has invested in Cumene plant which is set up at Germany due to its use in various chemicals like phenols and acetones. INEOS Americas LLC has acquired Axiall Corporation which has a Cumene plant for $62.9 million.
- The innovation leap forward in the production of Cumene due to its low safety standards. A new technology called Versalis Cumene technology has been developed by Eni Spa to provide better safety standards in producing Cumene. This technology is less expensive, low maintenance costs and produces better products.
- A new research by Tarbiat Modares University in Iran proved that the oxidative C–C bond cleaving oxidation of Cumene with O2 towards the phenones can proceed efficiently without a catalyst. It is also proved that Cumene and its congeners are more efficient for the organic activation of O2 for oxidative applications. This process is capable of replacing the traditional processes for the radical chain oxidation like Wacker’s process.