Cumene is an organic compound also known as isopropylbenzene. Cumene is a stable compound, though it can convert into peroxide when it comes in contact with air. Cumene is found as a constituent of crude oil and refined fuel. Cumene is commercially produced as a pure compound by the alkylation process of benzene with propylene and is stored in the form of cumene hydroperoxide.
An increasing adoption of cumene for various applications such as laminates, composites, and plastics, is a major factor expected to fuel the growth of the cumene market. In addition, the rising demand for cumene from various industries such as adhesive and sealant, and paint and coating, is also expected to bolster the growth of the global market. However, the harmful effects of the product on exposure and high cost of compound, may hamper the demand and restrain the growth of the global market.
The global cumene market is segmented on the basis of production, application, and region. On the basis of production, the global market is segmented into zeolite catalyst, solid phosphoric acid, and aluminum chloride. On the basis of application, the global market is segmented into phenol, acetone, and others. Others segment is bifurcated into high octane aviation fuels, and adhesive and sealant.
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On the basis of region, the global cumene market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts for the highest share in terms of revenue over the forecast period. The Europe market is projected to witness a significant growth in the global market over the forecast period. The North America market is expected to witness a moderate growth during the forecast period.
Key players in the global cumene market are The Dow Chemical Company, Exxon Mobil Corporation, China Petrochemical Development Corporation, Chang Chun Group, Braskem S.A., Royal Dutch Shell plc, Sumitomo Chemical Co., Ltd., INEOS Group, BASF SE, and Borealis AG.