Cumene Market To Hit Value .2 Billion By 2025 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on December 3rd, 2020 The global cumene marketsize is expected to reach USD 28.2 billion by 2025, at a registering a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for phenol from various key end use applications such as construction materials, pharmaceuticals, and adhesives, coupled with advancements in the production process of the chemical is expected to drive market growth over the forecast period. Demand across the organic chemicals sector shall register a slump in growth albeit increasing demand for certain chemicals that find end applications in healthcare and food. Furthermore, China, a major supplier of chemicals to the world, registered a considerable decline in manufacturing in the first quarter of 2020, following the trajectory unfolded by COVID-19's escalation to a pandemic. This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers alike to renegotiate supply agreements. The report will account for Covid19 as a key market contributor. Cumene or isopropylbenzene is derived from the reaction between benzene and propylene. It is produced by using catalysts such as zeolite, aluminum chloride, and phosphoric acid. Isopropylbenzene is mainly used for the production of acetone and phenol. The usage of aluminum chloride and solid phosphoric acid as catalysts in the production process have several disadvantages such as environmental hazard, catalyst non-renewability and high corrosion. These factors have resulted in a shift toward using zeolite as catalysts for production. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/cumene-market/request/rs1 Phenol application segment dominated the global demand in 2016. Cumene is mainly used for the production of various phenol derivatives, which includes bisphenol A, caprolactam, and alkyl phenols. These byproducts are used in end use industries such as household appliances, adhesives, construction materials and electronic appliances. The global growth in construction, packaging, electronics and pharmaceuticals industry is expected to contribute a rise in demand for phenol byproducts thus benefitting the overall cumene market growth over the forecast period. Further key findings from the report suggest:
Excessive exposure of cumene can cause adverse effects on human health such as dizziness, headaches, and unconsciousness. It also causes irritation of skin and eyes. Fluctuating oil & gas prices is a cause of concern for cumene producers. However, major producers have integrated themselves among the value chain to deal with price fluctuations. The global cumene market size was worth USD 18.8 billion in 2016. Its growing demand in various applications such as laminates, composites, and plastics, is expected to be the key factor driving market growth. Cumene is an organic compound, which is also known as isopropyl benzene. It is formed by an aliphatic substitution of aromatic compounds and is a constituent of refined fuels & crude oil. Isopropylbenzene is characterized by its colorless & flammable nature, which boils at a temperature of 152oC. For commercial usage, it is manufactured by the Friedel-Crafts alkylation method. The cumene market is characterized by the presence of a large number of established players. Major players in the industry include Dow Chemical Company, JX Holdings, ExxonMobil Corporation, BASF SE, China Petroleum & Chemical Corporation, Saudi Basic Industries Corporation, INEOS Group, Total S.A., and Sinopec Group Ltd. Some of the companies such as Koch Industries and Royal Dutch Shell plc. are investing in R&D activities to develop stable isopropyl benzene which does not form peroxides when they come in contact with atmospheric air. Grand View Research has segmented the cumene market on the basis of production, application,: Cumene Production Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)
Cumene Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)
o Phenol resins o Caprolactam o Bisphenol A o Alkyl phenols o Others
o Solvent use o Methyl Methacrylate o Bisphenol A o Aldol chemicals o Others
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