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Cumene Market to Reach $25,089 Million, With Leading Manufacturers Such as BASF SE, The Dow Chemical Company, and JX Nippon Oil.

04-18-2019 04:34 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Cumene Market to Reach $25,089 Million, With Leading

Cumene Market Report, published by Allied Market Research, forecasts that the global market was valued at $16,330 million in 2015, and is expected to reach $25,089 million by 2022, supported by a CAGR of 6.5% during the forecast period 2016 to 2022. The phenol/acetone segment accounted for the highest share in the global market in 2015.

Cumene is a clear and colorless liquid with an aroma, and is a component of finished and raw fuels. It has a molecular weight of 120.2 (g / mol) with a boiling point of 152153C and a melting point of -96C. It is used in products derived from petroleum, and as thin for paintings, lacquers, enamels and fuels of high octane, and the production of acetophenone, acetone, methyl styrene and phenol. In addition, it is used in the production of acetophenone, acetone, methylstyrene and phenol.

Key findings of Cumene Market:

• The phenol/acetone segment is anticipated to grow at the highest CAGR during the analysis period.
• Asia-Pacific is projected to maintain its lead position from 2016 to 2022, growing at a CAGR of 4.9%, in terms of volume.
• China occupied around one-third share of the Asia-Pacific market in 2015.
• In terms of value, UK is expected to grow at a significant CAGR of 5.9%.

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The segment of phenol / acetone represented the largest proportion, in terms of volume, in 2015. In response to perennial changes in the paint and coatings industry, efficient diluents are at world demand. In this way, the increase of the cumene requirement as a diluent and increase in the use of phenol-based compounds and plastics feeds demand globally.

The growth of the population and the increase in levels of income present numerous opportunities for the expansion of the market. In addition, the development of the global chemical industry at global level and the increased demand for phenolic resins are expected to favor global growth. In addition, it is expected to increase the production of bisphenol-A for the production of polycarbonate and epoxy resins and increase the demand for phenol in the production of compounds, plastics and laminates to complement the global market. However, the volatile prices of crude oil and the dangerous effects on the health of cumene are some factors that predict to impede global growth.

Top Key Players :

Top 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 provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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