Cumene Market Sales Revenue to Touch $28.0 Billion By 2030 | Major Companies, Strategies and New Trends

Cumene in chemical form is known as isopropyl benzene, an organic compound based on aromatic hydrocarbons with aliphatic substitution. It is a flammable and colorless liquid with high boiling points of around 152°C, and is a constituent of crude oil and refined fuels. Industrially, cumene is manufactured by Friedel Crafts alkylation method. It is converted into an intermediate known as cumene hydroperoxide for further applications.

The global cumene market has witnessed significant growth opportunities globally, owing to growth in demand for phenol and acetone and their derivatives. Furthermore, economic growth, rise in per capita disposable income, and upsurge in the use of phenolic resins & bisphenol-A are anticipated to boost the market growth during the forecast period.

Download Sample Report @ https://www.alliedmarketresearch.com/request-sample/1984

Cumene is primarily used as a raw material in the production of phenol and acetone, which are widely utilized in various industries such as automotive, construction, electronics, and pharmaceuticals. The growing demand for these end-use products directly drives the demand for cumene. The construction sector plays a significant role in the demand for cumene-based products. As economies develop and urbanization increases, there is a rising need for construction materials, coatings, adhesives, and sealants, which rely on cumene-derived products. The chemical industry is a major consumer of cumene. Cumene is used as a solvent in the manufacture of various chemicals, including resins, polycarbonates, and synthetic fibers.

Request For Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/1984

Advances in technology and process optimization have led to improved production efficiency and cost-effectiveness in cumene manufacturing. Enhanced catalysts, process modifications, and integration of renewable feedstocks have positively influenced the cumene market, making it more competitive and sustainable. With increasing environmental concerns and sustainability goals, there is a growing interest in bio-based alternatives and sustainable manufacturing practices. Some companies are exploring bio-based routes to produce cumene, utilizing renewable feedstocks instead of traditional fossil fuel sources. This trend is likely to impact the cumene market and create opportunities for bio-based cumene production.

COVID-19 impact on the Cumene market:

COVID-19 pandemic has resulted in slowdown in the growth of cumene in the global market, leading to low demand for phenol and acetone derivatives of cumene. The demand for phenol decreased due to the impacts of COVID-19 on the industry, the region, and disruptions in supply chain operations. Thus, the demand for cumene declined in 2020. Moreover, the COVID-19 pandemic started to affect the major end-user industries of cumene, such as cosmetics and personal care, paints and enamels, high-octane aviation fuels, polymer industries, where declined sales due to the pandemic weakened the demand for cumene for a long period. However, cumene market is expected to recover by the first quarter of 2021, and expected to grow with a CAGR of 4.3% as COVID-19 vaccination has begun in various economies across the globe, which is expected to improve the global economy.

Key Benefits For Stakeholders:

► The report provides an extensive qualitative and quantitative analysis of the current market trends and future estimations of the global cumene market from 2021 to 2030 to determine the prevailing opportunities.

► A comprehensive analysis of the factors that drive and restrict Cumene market growth is provided.

► Estimations and forecast are based on factors impacting the cumene market growth, in terms of value.

► Profiles of leading players operating in the cumene market are provided to understand the global competitive scenario.

► The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable cumene market growth.

Interested in Procuring this Report? Visit @ https://www.alliedmarketresearch.com/cumene-market/purchase-options

Key Market Players:

► Royal Dutch Shell Plc

► Exxon Mobil Corporation

► Total S.A

► BP Plc

► Sumitomo Chemical Co

► Axiall Corporation

► SABIC

► BASF SE

Similar Reports:

Lubricants Market: https://www.alliedmarketresearch.com/lubricants-market-A07693

Bio-butanediol Market: https://www.alliedmarketresearch.com/bio-butanediol-market-A13143

Silicone Resins Market: https://www.alliedmarketresearch.com/silicone-resins-market-A17421

Green-Bio-based Solvents Market: https://www.alliedmarketresearch.com/green-solvents-bio-solvents-market

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free)
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

Follow us on LinkedIn and Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Ma rket 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.

This release was published on openPR.