The global cumene market size was US$ 19.1 billion in 2021. The global cumene market size is forecast to grow to US$ 27.5 billion by 2030 by registering a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2022 to 2030. 

Cumene is also known as isopropyl benzene. It is an organic compound, flammable and colourless in nature, with a high boiling point of approximately 152°C. It is a constituent of crude oil and refined fuels. 

Factors Influencing the Market

• The global cumene market is forecast to witness ample growth opportunities, owing to the surging demand for phenol, acetone, and other derivates
• The wide applications of phenol in fiberglass boats, plywood, DVDs and CDs, computers, window glazing, automotive parts and accessories, circuit boards, sports equipment, etc., will drive the cumene market forward. 
• The applications of cumene as thinners for enamels, paints, lacquers, etc., will escalate the growth of the market. 
• Growing construction activities will contribute to the growth of the global cumene market. 
• Growing urbanization and rising global population will benefit the global cumene market during the analysis period. 
• Economic growth and increase in per capita income will boost the growth of the global cumene market. 
• The rising popularity of phenolic resins & bisphenol-A will escalate the industry growth. 

COVID-19 Impact Analysis

The COVID-19 pandemic declined construction activities. As a result, the global cumene market witnessed low demand for phenol and acetone derivatives. Furthermore, the demand for cosmetics and personal care products reduced drastically. The paints and enamels industry, high-octane aviation fuels industry, and polymer industry witnessed a sudden drop in terms of revenue. As a result, it hampered the growth of the global cumene market. 

Regional Analysis

The Asia-Pacific cumene market is forecast to hold the largest market share. China is forecast to emerge as a substantial cumene market as the country holds nearly one-fourth of the global coatings market. The growing expansion of industry players in the region will also benefit the market. For instance, PPG invested nearly US$ 13 million in its Jiading, China, paint and coatings facility in order to expand the plant’s capacity by more than 8,000 tons per year. Such investments are expected to drive this regional market forward. 

China is also among the largest markets for domestic air passengers. As a result, it will accelerate the growth of the Asia-Pacific cumene market over the forecast period. 

Competitors in the Market

• Cepsa
• INEOS
• Kumho P&B Chemicals Inc.
• Dow
• Koch Industries Inc.
• Other Prominent Players

Market Segmentation

The global cumene market segmentation focuses on Catalyst, Application, and Region. 

By Catalyst Type

• Aluminium Chloride Catalyst
• Solid Phosphoric Acid (SPA) Catalyst
• Zeolite Catalyst
• Other Catalyst Types

By Application

• Phenol
• Acetone
• Other Applications (Including Paints, Enamels, Aviation Fuels, and Others)

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America