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Cumene Market Size, Share, Growth Trends, Industry Analysis, Key Players, Investment Opportunities and Forecast (2025-2032)
Cumene Market was valued at USD 21.80 Bn. in 2024. The Total Cumene Market revenue is expected to grow by CAGR 4.2% from 2024 to 2032 and reach nearly USD 30.30 Bn. in 2032.
Format : PDF | Report ID : SMR_2736
Cumene Market Overview
Cumene is an organic compound, specifically a hydrocarbon, used in the production of phenol and acetone. The trend in the cumene market is the growing demand for phenol and acetone, driven by their extensive use in industries like automotive, construction and electronics. Technological advancements, such as the implementation of zeolite catalysts, are enhancing production efficiency and environmental sustainability. The rising demand for phenol and acetone is to drive the cumene market.
The Asia-Pacific region dominates the global cumene market in 2024, mainly due to its strong production and cumene-based derivatives, such as the consumption of phenol and acetone. The largest consumers of Cumene are the Asia-Pacific region depends on China and India, followed by the United States as a leading consumer of North America region. These areas mainly demand the production of phenols and acetone used in plastics, resins and solvents. Cumene markets global opportunities is growing industrial demands, efficient and environmentally friendly production methods and safety and emissions in emerging areas.
Global Cumene Market key players are INEOS Group Limited and Shell PLC. In March 10, 2024, INEOS Phenol announced to expand production in Europe to meet the growing demand. This improves supply and support industries such as motor vehicles and construction. The several countries execute standard import tariffs on petrochemical items such as cumene, from zero to a few percent, depending on the terms of trade. In addition, countries implement environmental and protection regulations that influence the production and trade indirectly.
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Cumene Market Dynamics:
Increasing demand for phenol and acetone to boost cumene market
The increasing demand for phenol and acetone is due to their comprehensive application in industrial areas that are seeing strong growth globally. The continuous development of motor vehicle and construction areas has further increased the demand for chemicals based on phenol, therefore, further promoting the consumption of cumene. With frequent changes in industries, the need for efficient and effective chemical processes has encouraged manufacturers to turn down as an important raw material for many purposes. Therefore, technical changes in phenol and acetone production processes have made their production more efficient, thus manufacturers have used them to bear them as a cheap option.
Expansion of the Chemical Manufacturing Sector to Boost the Cumene Market Growth
The market for cumene is driven by the growth of the chemical manufacturing industry because cumene is an essential raw material for the synthesis of phenol and acetone, that are used extensively in resins, plastics, and medications. The high investments into chemical production plants improve the overall production capacity, causing an adequate supply of cumene. This growth in the chemical industry not only assurances of consistent demand but also provides innovations in production technologies that enhance efficiencies and lower costs. Also, the fast expansion of developing economies is causing growing emphasis on local manufacturing capabilities, enhancing the dependence on cumene further as a key chemical building block.
Harmful Effects Due to Extended Exposure to Retrain the Cumene Market
Harmful Effects due to Extended Exposure serve as a significant restraint on the cumene market, particularly in work-related surroundings. Prolonged contact with cumene causes serious health risks to workers and surrounding communities. These health hazards trigger strict regulatory controls and safety requirements. Compliance with these regulations is required for manufacturers to capitalize heavily on the safety and security instructions, like ventilation systems, personal protective equipment and regular health monitoring of workers, which raise the manufacturing cost.
Cumene Market Segment Analysis:
Based on Catalyst Type, the cumene market is segmented into aluminum chloride, solid phosphoric, zeolite and others. Zeolite Cumene dominates the cumene market in 2024. Due to better catalytic properties, such as high selectiveness, thermal stability, and long working time compared to traditional catalysts. Also, zeolite catalysts facilitate the highly effective conversion of benzene and propylene and decrease the consumption of by-products and energy. Moreover, they are more environmentally friendly, produce less toxic waste and eliminate the use of corrosive chemicals, aligning with serious environmental rules.
Based on application, the cumene market is segmented into phenol, acetone and others. Phenol is dominate the cumene market in 2024 and is expected to dominate the cumene market in the forecast period (2025-2032). Because of the cumene process, where lower (isopropylbenzene) undergoes oxidation to make cumene hydroperoxide. Then, it is cleaned to produce both phenol and acetone. The main objective of this technique is the construction of phenol, in which the acetone offers a valuable co-product. Also, the manufacture of phenol bisphenol A (BPA) is an important raw material in the manufacture of polycarbonate plastic and epoxy resins. These materials are widely applied to many industries such as motor vehicle industries, electronics, construction and packaging.
Cumene Market Regional Analysis
The Asia-Pacific region dominates the cumene market in 2024. Because of a combination of strong industrial growth, rising demand for end-use products and cost benefits. China and India are countries with experience in high urbanization and industrialization, and have contributed huge to the consumption of phenol and bisphenol A (BPA), which is a major derivative of inferiority. These chemicals are used to make polycarbonate plastic and epoxy resins, which are largely applied in automotive, electronics, construction and packaging industries. The region has minor production costs and favorable government policies supporting chemical manufacturing investments. Also, the Asia-Pacific region is now an important centre of cumene manufacturing and consumption, encouraging its market leadership in the world.
Cumene Market Competitive Landscape
Global cumene market key players are INEOS Group Ltd. And Shell plc. INEOS is a dominant player because of its higher volume, energy-efficient production of the major byproducts, like chemicals phenol and acetone. Also, has a competitive benefit through vertical integration in oil, gas, and petrochemicals, providing secure feedstock and efficient production. Moreover, Shell is committed to process sustainability and chemical innovation, which underpin long-term competitiveness. Both companies enjoy their worldwide infrastructure and R&D facilities, but INEOS has an edge in this regard because it specializes and is large-scale in cumene derivatives.
Cumene Market Recent Developments
- In March 10, 2024, INEOS Phenol announced to expand production in Europe to meet the growing demand in cumene market. This improves supply and support industries such as motor vehicles and construction.
- In January 20, 2024, Sinopec commissioned a new petrochemical complex in China, with advanced low units to promote efficiency and cut emissions. This cleaner supports China's goals for chemical manufacture.
- In November 5, 2023, BASF launched an environmentally friendly catalyst to increase low production efficiency and reduce environmental impact. Technology reduces energy use and regulatory compliance.
- In February 18, 2024, ExxonMobil participated with renewable feedstock suppliers to develop bio-based low as part of its stability effort. It focuses on reducing carbon emissions and its focus on diverse materials.
- In June 15, 2023, Kumho P&B chemicals obtained ISCC PLUS Certification for infinite and related products, supporting sustainable chemical production. This helps the company offer greener products and expand its market.
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The Cumene Market Scope |
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Market Size in 2024 |
USD 21.80 Bn. |
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Market Size in 2032 |
USD 30.30 Bn. |
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CAGR (2025-2032) |
4.2% |
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Historic Data |
2019-2024 |
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Base Year |
2024 |
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Forecast Period |
2025-2032 |
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Segments |
By Catalyst Type Aluminum Chloride Solid Phosphoric Zeolite Others |
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By Application Phenol Acetone Others |
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Regional Scope |
North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe Asia Pacific – China, South Korea, Japan, India, Australia, Indonesia, Philippines, Malaysia, Vietnam, Thailand, Rest of Asia Pacific Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East South America – Brazil, Argentina, Rest of South America |
Key players in Cumene Market
North America
- ExxonMobil Corporation (USA)
- Dow Chemical Company (USA)
- Westlake Chemical Corporation (USA)
- Koch Industries, Inc. (USA)
- Lummus Technology (USA)
Europe
- INEOS Group Ltd. (UK)
- BASF SE (Germany)
- TotalEnergies SE (France)
- Versalis S.p.A. (Eni) (Italy)
- Domo Chemicals GmbH (Germany)
Asia Pacific
- Sumitomo Chemical Co., Ltd. (Japan)
- Mitsubishi Chemical Corporation (Japan)
- JX Nippon Oil & Energy Corporation (Japan)
- Kumho P&B Chemicals, Inc. (South Korea)
- Chang Chun Group (Taiwan)
- Sinopec Group (China)
- Formosa Plastics (Taiwan)
Middle East and Africa
- SABIC (Saudi Basic Industries Corporation) (Saudi Arabia)
- Aramco Services Company (Saudi Arabia)
- Borealis AG (Austria)
- KenolKobil Ltd. (Kenya)
- Saudi Aramco (Saudi Arabia)
South America
- Braskem S.A. (Brazil)
- Petrobras (Petróleo Brasileiro S.A.) (Brazil)
- Petroquímica Comodoro Rivadavia S.A. (Argentina)
- YPF S.A. (Argentina)
- Petroquímica Suape (Brazil)
Frequently Asked Questions
Due to superior catalytic properties, including high selectivity, thermal stability, and longer operational life compared to traditional catalysts.
Increasing Demand for Phenol and Acetone and the Expansion of the Chemical Manufacturing Sector are driving the cumene market.
The leading companies in the global Cumene market are INEOS Group Ltd. and Shell plc.
The forecast period of the cumene market is from 2025-2032.
1. Cumene Market Introduction
1.1. Study Assumptions and Market Definition
1.2. Scope of the Study
1.3. Executive Summary
2. Global Cumene Market: Competitive Landscape
2.1. SMR Competition Matrix
2.2. Key Players Benchmarking
2.2.1. Company Name
2.2.2. Headquarter
2.2.3. Product Segment
2.2.4. End-User Segment
2.2.5. Revenue (2024)
2.2.6. Geographical Presence
2.3. Market Structure
2.3.1. Market Leaders
2.3.2. Market Followers
2.3.3. Emerging Players
2.4. Mergers and Acquisitions Details
3. Cumene Market: Dynamics
3.1. Cumene Market Trends
3.2. Cumene Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PORTER’s Five Forces Analysis
3.4. PESTLE Analysis
3.5. Regulatory Landscape by Region
3.6. Key Opinion Leader Analysis for the Global Industry
3.7. Analysis of Government Schemes and Initiatives for Industry
4. Cumene Market: Global Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2032)
4.1. Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
4.1.1. Aluminum Chloride
4.1.2. Solid Phosphoric
4.1.3. Zeolite
4.1.4. Others
4.2. Cumene Market Size and Forecast, By Application (2024-2032)
4.2.1. Phenol
4.2.2. Acetone
4.2.3. Others
4.3. Cumene Market Size and Forecast, By Region (2024-2032)
4.3.1. North America
4.3.2. Europe
4.3.3. Asia Pacific
4.3.4. Middle East and Africa
4.3.5. South America
5. North America Cumene Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2032)
5.1. North America Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
5.1.1. Aluminum Chloride
5.1.2. Solid Phosphoric
5.1.3. Zeolite
5.1.4. Others
5.2. North America Cumene Market Size and Forecast, By Application (2024-2032)
5.2.1. Phenol
5.2.2. Acetone
5.2.3. Others
5.3. North America Cumene Market Size and Forecast, by Country (2024-2032)
5.3.1. United States
5.3.1.1. United States Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
5.3.1.1.1. Aluminum Chloride
5.3.1.1.2. Solid Phosphoric
5.3.1.1.3. Zeolite
5.3.1.1.4. Others
5.3.1.2. United States Cumene Market Size and Forecast, By Application (2024-2032)
5.3.1.2.1. Phenol
5.3.1.2.2. Acetone
5.3.1.2.3. Others
5.3.2. Canada
5.3.2.1. Canada Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
5.3.2.1.1. Aluminum Chloride
5.3.2.1.2. Solid Phosphoric
5.3.2.1.3. Zeolite
5.3.2.1.4. Others
5.3.2.2. Canada Cumene Market Size and Forecast, By Application (2024-2032)
5.3.2.2.1. Phenol
5.3.2.2.2. Acetone
5.3.2.2.3. Others
5.3.3. Mexico
5.3.3.1. Mexico Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
5.3.3.1.1. Aluminum Chloride
5.3.3.1.2. Solid Phosphoric
5.3.3.1.3. Zeolite
5.3.3.1.4. Others
5.3.3.2. Mexico Cumene Market Size and Forecast, By Application (2024-2032)
5.3.3.2.1. Phenol
5.3.3.2.2. Acetone
5.3.3.2.3. Others
6. Europe Cumene Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2032)
6.1. Europe Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.2. Europe Cumene Market Size and Forecast, By Application (2024-2032)
6.3. Europe Cumene Market Size and Forecast, by Country (2024-2032)
6.3.1. United Kingdom
6.3.1.1. United Kingdom Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.3.1.2. United Kingdom Cumene Market Size and Forecast, By Application (2024-2032)
6.3.2. France
6.3.2.1. France Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.3.2.2. France Cumene Market Size and Forecast, By Application (2024-2032)
6.3.3. Germany
6.3.3.1. Germany Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.3.3.2. Germany Cumene Market Size and Forecast, By Application (2024-2032)
6.3.4. Italy
6.3.4.1. Italy Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.3.4.2. Italy Cumene Market Size and Forecast, By Application (2024-2032)
6.3.5. Spain
6.3.5.1. Spain Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.3.5.2. Spain Cumene Market Size and Forecast, By Application (2024-2032)
6.3.6. Sweden
6.3.6.1. Sweden Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.3.6.2. Sweden Cumene Market Size and Forecast, By Application (2024-2032)
6.3.7. Russia
6.3.7.1. Russia Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.3.7.2. Russia Cumene Market Size and Forecast, By Application (2024-2032)
6.3.8. Rest of Europe
6.3.8.1. Rest of Europe Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
6.3.8.2. Rest of Europe Cumene Market Size and Forecast, By Application (2024-2032)
7. Asia Pacific Cumene Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2032)
7.1. Asia Pacific Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.2. Asia Pacific Cumene Market Size and Forecast, By Application (2024-2032)
7.3. Asia Pacific Cumene Market Size and Forecast, by Country (2024-2032)
7.3.1. China
7.3.1.1. China Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.1.2. China Cumene Market Size and Forecast, By Application (2024-2032)
7.3.2. S Korea
7.3.2.1. S Korea Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.2.2. S Korea Cumene Market Size and Forecast, By Application (2024-2032)
7.3.2.3. S Japan
7.3.2.4. Japan Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.2.5. Japan Cumene Market Size and Forecast, By Application (2024-2032)
7.3.3. India
7.3.3.1. India Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.3.2. India Cumene Market Size and Forecast, By Application (2024-2032)
7.3.4. Australia
7.3.4.1. Australia Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.4.2. Australia Cumene Market Size and Forecast, By Application (2024-2032)
7.3.5. Indonesia
7.3.5.1. Indonesia Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.5.2. Indonesia Cumene Market Size and Forecast, By Application (2024-2032)
7.3.6. Malaysia
7.3.6.1. Malaysia Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.6.2. Malaysia Cumene Market Size and Forecast, By Application (2024-2032)
7.3.7. Philippines
7.3.7.1. Philippines Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.7.2. Philippines Cumene Market Size and Forecast, By Application (2024-2032)
7.3.8. Thailand
7.3.8.1. Thailand Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.8.2. Thailand Cumene Market Size and Forecast, By Application (2024-2032)
7.3.9. Vietnam
7.3.9.1. Vietnam Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.9.2. Vietnam Cumene Market Size and Forecast, By Application (2024-2032)
7.3.10. Rest of Asia Pacific
7.3.10.1. Rest of Asia Pacific Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
7.3.10.2. Rest of Asia Pacific Cumene Market Size and Forecast, By Application (2024-2032)
8. Middle East and Africa Cumene Market Size and Forecast (by Value in USD Billion) (2024-2032
8.1. Middle East and Africa Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
8.2. Middle East and Africa Cumene Market Size and Forecast, By Application (2024-2032)
8.3. Middle East and Africa Cumene Market Size and Forecast, by Country (2024-2032)
8.3.1. South Africa
8.3.1.1. South Africa Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
8.3.1.2. South Africa Cumene Market Size and Forecast, By Application (2024-2032)
8.3.2. GCC
8.3.2.1. GCC Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
8.3.2.2. GCC Cumene Market Size and Forecast, By Application (2024-2032)
8.3.3. Egypt
8.3.3.1. Egypt Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
8.3.3.2. Egypt Cumene Market Size and Forecast, By Application (2024-2032)
8.3.4. Nigeria
8.3.4.1. Nigeria Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
8.3.4.2. Nigeria Cumene Market Size and Forecast, By Application (2024-2032)
8.3.5. Rest of ME&A
8.3.5.1. Rest of ME&A Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
8.3.5.2. Rest of ME&A Cumene Market Size and Forecast, By Application (2024-2032)
9. South America Cumene Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2032
9.1. South America Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
9.2. South America Cumene Market Size and Forecast, By Application (2024-2032)
9.3. South America Cumene Market Size and Forecast, by Country (2024-2032)
9.3.1. Brazil
9.3.1.1. Brazil Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
9.3.1.2. Brazil Cumene Market Size and Forecast, By Application (2024-2032)
9.3.2. Argentina
9.3.2.1. Argentina Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
9.3.2.2. Argentina Cumene Market Size and Forecast, By Application (2024-2032)
9.3.3. Colombia
9.3.3.1. Colombia Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
9.3.3.2. Colombia Cumene Market Size and Forecast, By Application (2024-2032)
9.3.4. Chile
9.3.4.1. Chile Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
9.3.4.2. Chile Cumene Market Size and Forecast, By Application (2024-2032)
9.3.5. Rest Of South America
9.3.5.1. Rest Of South America Cumene Market Size and Forecast, By Catalyst Type (2024-2032)
9.3.5.2. Rest Of South America Cumene Market Size and Forecast, By Application (2024-2032)
10. Company Profile: Key Players
10.1. INEOS Group Ltd. (UK)
10.1.1. Company Overview
10.1.2. Business Portfolio
10.1.3. Financial Overview
10.1.4. SWOT Analysis
10.1.5. Strategic Analysis
10.1.6. Recent Developments
10.2. ExxonMobil Corporation (USA)
10.3. Dow Chemical Company (USA)
10.4. Westlake Chemical Corporation (USA)
10.5. Koch Industries, Inc. (USA)
10.6. Lummus Technology (USA)
10.7. BASF SE (Germany)
10.8. TotalEnergies SE (France)
10.9. Versalis S.p.A. (Eni) (Italy)
10.10. Domo Chemicals GmbH (Germany)
10.11. Sumitomo Chemical Co., Ltd. (Japan)
10.12. Mitsubishi Chemical Corporation (Japan)
10.13. JX Nippon Oil & Energy Corporation (Japan)
10.14. Kumho P&B Chemicals, Inc. (South Korea)
10.15. Chang Chun Group (Taiwan)
10.16. Sinopec Group (China)
10.17. Formosa Plastics (Taiwan)
10.18. SABIC (Saudi Basic Industries Corporation) (Saudi Arabia)
10.19. Aramco Services Company (Saudi Arabia)
10.20. Borealis AG (Austria)
10.21. KenolKobil Ltd. (Kenya)
10.22. Saudi Aramco (Saudi Arabia)
10.23. Braskem S.A. (Brazil)
10.24. Petrobras (Petróleo Brasileiro S.A.) (Brazil)
10.25. Petroquímica Comodoro Rivadavia S.A. (Argentina)
10.26. YPF S.A. (Argentina)
10.27. Petroquímica Suape (Brazil)
11. Key Findings
12. Industry Recommendations
13. Cumene Market: Research Methodology
