Press release
Cumene Market 2021 Production, Status and Demand Outlook- Royal Dutch Shell Plc., Exxon Mobil Corporation, BP Plc., Sumitomo Chemical Co Ltd, BASF SE
Global Cumene Market 2021 research report offers qualitative and quantitative insights in relation to industry growth rate, market segmentation, Cumene market size, demand and revenue. The current Cumene market trends that are expected to influence the future prospects of the industry are analyzed in the report. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.The global cumene market is expected to grow from $15.97 billion in 2020 to $18.34 billion in 2021 at a compound annual growth rate (CAGR) of 14.8%.
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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; Chang Chun Group; Domo investment group; Braskem; SABIC; JX Nippon Oil; KMG Chemicals; CNPC; China Petrochemical Development Corporation; Koch Industries; Mitsui & Co. Ltd.; Eni Spa; Sunoco; Aramco Services Company; Flint Hills Resources LP; Guangzhou VA-SO Plastics Co., Ltd.; Axiall Corporation; Sigma-Aldrich; Total S.A.; Borealis AG; JXTG Nippon Oil and Energy Corporation; Shell Corp. LLC and others.
Industry Developments:
For instance, in Germany, in 2019, INEOS Phenol, the worlds largest producer of acetone and phenol has done new cumene investment at the Evo-nik 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 Evo-nik 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.
Scope of this Report:
Markets Covered:
1) By End-user industry: Paints industry; Automotive industry; Chemical industry; Plastics industry and others 2) By Application: Phenol ; Acetone; Chromatography; Others 3) By Manufacturing Process: Aluminum Chloride Catalyst, Solid Phosphoric Acid (SPA) Catalyst, and Zeolite Catalyst
Countries: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $17.63 billion in 2025 at a CAGR of -1%.
The cumene market consists of sales of cumene and related services. It is used as a raw material in the synthesis of other organic compounds, such as phenol, acetone, acetophenone, and methyl styrene. It is also used as a thinner for paints and lacquers. Cumene is a colorlesscolourless, flammable liquid and has a penetrating gasoline-like odor.
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 2019, China’s acetone consumption was about 2.285 million tons, a rise of 17.18% year-on-year. The global production capacity of acetone was about 9.142 million tons, and about 90% of the production capacity was concentrated in Asia, the Americas, Europe, and Asia were estimated at 47%. Rising demand for phenols and acetones drove the cumene market.
Regional Analysis For Cumene Market:
North America (The 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, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Browse the Report Description And TOC:
https://www.marketinsightsreports.com/reports/08103166895/cumene-global-market-report-2021-covid-19-impact-and-recovery-to-2030-including-1-by-end-user-industry-paints-industry-automotive-industry-chemical-industry-plastics-industry-and-others-2-by-application-phenol-acetone-chromatography-others-3-by-manufacturing-process-aluminum-chloride-catalyst-solid-phosphoric-acid-spa-catalyst-and-zeolite-catalyst-covering-royal-dutch-shell-plc-exxon-mobil-corporation-bp-plc-sumitomo-chemical-co-ltd-basf-se?Mode=S48
Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
The research includes historic data from 2015 to 2021 and forecasts until 2030 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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