Cumene Market : Facts, Figures and Analytical Insights 2020

The Cumene Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global cumene market reached a value of nearly $21 billion in 2019, having grown at a compound annual growth rate (CAGR) of 3.79% since 2015, and is expected to grow at a CAGR of -.97% to nearly $20.2 billion by 2023.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Cumene Market: Royal Dutch Shell Plc., Exxon Mobil Corporation, BP Plc., Sumitomo Chemical Co Ltd, BASF SE, The Dow Chemical Company, China Petroleum and Chemical Corporation, Ineos Group Limited, CEPSA. and others.

Industry News:

10/7/2019: INEOS Phenol has broken ground at its world-scale cumene investment in Marl Germany. The new state of the art 750,000 tons unit is scheduled to be completed in 2021. Its location will help optimize the efficiency of the plant by integrating raw materials from the refinery and cracker complex. The site also benefits from the Marl harbor waterway connection. The ceremony was attended by Economy Minister Andreas Pinkwart and local politicians, as well as customers and business partners of INEOS. INEOS Phenol is the world's largest producer of phenol and acetone and the largest consumer of cumene as an essential raw material. The construction of the plant will support customer's ambitions and secure the supply of raw material to the INEOS phenol and acetone plants located in Gladbeck and Antwerp for decades to come.

IRVING, Texas - May 1, 2020 - Exxon Mobil Corporation today announced an estimated first quarter 2020 loss of $610 million, or $0.14 per share assuming dilution, compared with earnings of $2.4 billion a year earlier. Results included a $2.9 billion charge from identified items, or $0.67 per share assuming dilution, reflecting noncash inventory valuation impacts from lower commodity prices and asset impairments. Cash flow from operating activities was $6.3 billion. Capital and exploration expenditures were $7.1 billion.

Market Overview:

The cumene market covered in this report is segmented by end-user industry into paints industry, automotive industry, chemical industry, plastics industry and others. It is also segmented by application into phenol, acetone, chromatography, others.

Rising demand for phenols and acetones in various industries contributes to the growth of the cumene market. Acetone is used as a solvent in the pharmaceutical and cosmetic industries. Phenols are used for the production of epoxy resins used in paints and coatings. As a result, strong demand for phenols and acetones has resulted in its over-supply. The demand for acetone and phenol is increasing at a significant rate relative to supply, which offers new manufacturers great potential for establishing their facilities. The cumene market is expected to see a high growth rate during the forecast period due to increase in global demand for acetone. For instance, in Gujarat, India, in 2017, the 8th global submit of Vibrant Gujarat, states that, the global demand for phenol is rising from 12.3 million tons in 2018 to 13.5 million tons in 2020 at a CAGR of 4.5%. Additionally, the global demand for acetones is rising from 6.8 million tons in 2018 to 7.2 million tons in 2020 at a CAGR of 4.5%. Rising demand for phenols and acetones drove the cumene market.

Rising demand for phenols and acetones in various industries contributes to the growth of the cumene market. Cumene is used as a feed-stock in the production of phenol and acetone. Acetone is used as a solvent in the pharmaceutical and cosmetic industries where as phenols are used for the production of paints and coatings. Thus, strong demand for phenols and acetones has resulted in rise in the demand for cumene. For instance, in Gujarat, India, in 2017, the 8th global submit of Vibrant Gujarat, states that, the global demand for phenol is rising from 12.3 million tons in 2018 to 13.5 million tons in 2020 at a CAGR of 4.5%. Additionally, the global demand for acetones is rising from 6.8 million tons in 2018 to 7.2 million tons in 2020 at a CAGR of 4.5%. Thus, the rising demand for phenols and acetones positively drives the growth of the cumene market.

Companies in the cumene market are investing in order to meet the future demand. For instance, in Germany, in 2019, INEOS Phenol, the world's largest producer of acetone and phenol has done new cumene investment at the Evonik Chemiepark in Marl. The fully integrated unit will use existing pipeline connections between the production of INEOS phenol and acetone in Gladbeck, the Marl site of Evonik Chemiepark and the Gelsenkirchen refinery and cracker complex of BP. The new 750,000 tonnes cumene unit would be completed by 2021 and will meet future demand and improves supply protection for INEOS plants in Gladbeck and Antwerp.

In 2018, Cabot Microelectronics Corporation, a USA-based company specialized in supplying consumable materials to semiconductor manufacturers and pipeline companies, acquired KMG Chemicals for $1.6 billion. The acquisition helped Cabot Microelectronics Corporation in broadening its position as the leading supplier of consumable materials in the semiconductor industry. Additionally, the combination will result in the global supply of performance products and services to improve pipeline operations. KMG Chemicals, Inc. is a USA-based company that specializes in manufacturing specialty chemicals for electronics, industrial wood preservation, and industrial lubricant markets.

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Regional Analysis For Cumene Market:

For comprehensive understanding of market dynamics, the global Cumene market is analyzed across key geographies namely:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Cumene Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger and acquisitions along with trending innovation and business policies are reviewed in the report. The report contains basic, secondary and advanced information pertaining to the Market global status and trend, market size, share, growth, trends analysis, segment and forecasts from 2020-2023.

Following are major Table of Content of Cumene Market:

- Global Market Overview, Drivers, Restraints and Opportunities, Segmentation overview
- Global Market competition by top Players
- Analysis by Regions
- Consumption by Regions
- Consumption, By Types, Revenue and Market share by Types
- Consumption, By Applications, Market share (%) and Growth Rate by Applications
- Complete profiling and analysis of Players
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Global Market Effect Factors Analysis
- Global Market Forecast
- Global Market Research Findings and Conclusion, Appendix, methodology and data source

Finally, all aspects of the Global Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter's Five Forces Analysis and SWOT Analysis.

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