Cumene Market Size, Share, and Growth Analysis

Cumene Market By Production (Solid Phosphoric Acid, Zeolite), By Application (Phenol, Acetone), By End-Use Industry (Chemical Industry, Automotive Industry), By Region -Industry Forecast 2025-2032


Report ID: SQMIG15E2570 | Region: Global | Published Date: January, 2025
Pages: 196 |Tables: 92 |Figures: 71

Format - word format excel data power point presentation

Cumene Market Insights

Global Cumene Market size was valued at USD 25.39 Billion in 2023 and is poised to grow from USD 26.54 Billion in 2024 to USD 27.74 Billion by 2032, growing at a CAGR of 4.5% in the forecast period (2025-2032).

The increasing demand for cumene as a vital raw material in the synthesis of phenol and acetone is one of the many important causes behind the global cumene market growth. Phenol and acetone are widely used in many different sectors, such as plastics, resins, medicines, and cosmetics. These compounds are essential for the production of those goods that are in huge demand globally, such as plastics, synthetic fibers, paints, coatings, adhesives, and solvents. Novel materials and solutions in automotive, electronics, and healthcare industries further have stimulated the developing applications of phenol and acetone in different fields.

Other ongoing developments in the chemical sector, such as developing more productive production techniques, are predicted to drive up demand for cumene. Cumene will also remain important in the chemicals synthesis as producers increase output while focusing on improving sustainability. There is still a lot of potential for growth in the global cumene market because of the increased need for high-performance materials, the opening of new markets, and a constantly expanding customer base in the developing nations. The manufacturing may avail themselves of these opportunities by investing in advanced technologies, increasing their production capacities, and establishing strategic alliances with the downstream industries.

Market snapshot - (2025-2032)

Global Market Size

USD 25.39 Billion

Largest Segment

Phenols

Fastest Growth

Acetone

Growth Rate

4.5% CAGR

Global Cumene Market ($ Bn)
Country Share for Asia-Pacific (%)

To get more reports on the above market click here to Buy The Report

Cumene Market Segments Analysis

The global cumene market is segmented into production, application, end-use industry, and region. By production, the market is classified into zeolite, solid phosphoric acid, and aluminum chloride. Depending on the application, it is divided into phenol, acetone, and others. According to end-use industry, the market is categorized into chemical industry, automotive industry, pharmaceuticals & healthcare, construction & building materials, and consumer goods & packaging. Regionally, the market is studied across North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

Analysis by Production

Based on the 2024 global cumene market analysis, the solid phosphoric acid had a significant market share because of its widespread use in the alkylation process of cumene synthesis. High purity cumene, which is a critical precursor for the manufacture of phenol and acetone, is produced primarily by SPA. SPA is the catalyst of choice in many chemical processes because of its reliability and efficiency in industrial applications. Dependent on SPA for the manufacture of cumene, dependence on it is expected to be substantial while rising demands for the products such as phenol and acetone in sectors, which include plastics, pharmaceuticals, and automobile manufacturers. Its well-established usage in the chemical industry is added to its cost benefiting.

However, with increasing use of zeolites as catalysts in the cumene synthesis process, the market is expected to witness significant growth over the forecast period. Zeolites show higher selectivity, stability, and recyclability compared to conventional catalysts, such as solid phosphoric acid. Zeolites are currently used because they can speed up the rates of reactions and decrease energy requirements as the chemical industry moves toward greener and more efficient production processes. The use of zeolites in the production of pure and high-grade cumene will have a future in the cumene market for their role in satisfying the increasing demand that the industry has for innovation.

Analysis By Application

As per the 2024 global cumene market forecast, the largest application category was phenol. Many phenols and their derivatives are produced using isopropylbenzene. Some of the phenol derivatives, which are produced with the help of cumene, include alkyl phenols, bisphenol A, caprolactam, and phenol resins. The most widely used phenol derivative is bisphenol A, which is also used in the production of epoxy and polycarbonate resins. The polycarbonate resins are blended with metals and glass for application in the automobile industry. The bisphenol-A-based cumene-based polycarbonate is used in architectural outlets and security (sheets and windows). Furthermore, polycarbonate is used to make small, multipurpose discs. Epoxy resins are used in flooring, paving, electrical laminates, high performance adhesives, and coatings.

Whereas the acetone category is another significant chemical produced from cumene. Acetone is used as a solvent in many industrial processes. Acetone serves many different industries through its derivatives, including methyl methacrylate (MMA), bisphenol A, aldol compounds, and solvents. As it is used to create copolymers and homopolymers, which have a variety of uses in sectors including electronics, automotive, and construction, methyl methacrylate, which is generated from cumene, is very important. These polymers are important in the production of liquid crystal displays and flat-screen television sets in terms of optical clarity and endurance. The growing demand for electronic devices and the growth of the consumer electronics industry will continue to make the manufacturing of cumene increasingly important, which is expected to fuel further increase in acetone derivatives, especially MMA.

Global Cumene Market By Application

To get detailed analysis on other segments, Request For Free Sample Report

Cumene Market Regional Insights

In 2024, Asia-Pacific led the global cumene market owing to the increasing petrochemical demand, fast industrialization pace, and growth in manufacturing capabilities of this region. Countries such as China, India, and Japan have developed strong chemical industries which, in turn depend upon cumene as one of the most important raw materials to manufacture phenol and acetone. This further increases the requirement for phenol and acetone derivatives, such as methyl methacrylate and bisphenol A, in the increasing electronics, consumer goods, and automobiles sectors of the region. Asia-Pacific is consolidating its leadership position in the market, since the growing use of cumene-derived goods is further stimulated by a rising middle class, growing urbanization, and high disposable incomes.

However, Europe is the second-largest market for cumene, with a strong chemical industry and strong demand for its derivatives in a wide range of industries. Cumene is used to produce phenol, acetone, and other chemicals for Europe's robust industrial base, such as automotive, electronics, and pharmaceutical industries. Advances in cumene production technology have also been spurred by Europe's strict laws promoting ecologically friendly and sustainable industrial practices. Important markets such as Germany, France, and the UK are still driving growth, focusing on the production of high-quality chemicals to feed modern manufacturing. Europe's constant demand for consumer and industrial goods guarantees that the cumene market is of continued importance in the region.

Global Cumene Market By Geography
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Cumene Market Dynamics

Drivers

Growing Demand for Acetone and Phenol

  • The global cumene market is mainly driven by the ever-increasing demand for phenol and acetone in many parts of the globe, including the plastic, automotive, and pharmaceutical industries. These chemicals are crucial intermediates in several other processes, including solvents, adhesives, and resins production. Demand for cumene as a raw material increases with the growth of these industries, which will ensure constant expansion of the market.

Rising Demand for Consumer Electronics

  • The increasing production and usage of consumer electronics such as computers, televisions, and smartphones are also pushing the demand for chemicals derived from cumene, especially MMA, which is used in the manufacturing of displays. The higher demand for high-quality, long-lasting, and functional polymers with the increasing requirement of these products in modern life drives the demand for cumene and promotes market growth, especially in Asia-Pacific.

Restraints

Fluctuating Raw Material Prices

  • Manufacturing costs and profit margins are subject to the raw material price volatile fluctuations of materials such as benzene, which is a staple feedstock for the cumene manufacturing process. Cost increases in raw materials will come at times that seem unpredictable, thus making it challenging to maintain a steady price for manufacturers. Therefore, this factor can hinder long term market growth especially in cases of unstable economic conditions or fluctuating oil prices.

Environmental Regulations

  • Governments all across the globe are imposing stronger regulations on the manufacture of chemicals due to increasing environmental concerns. The operating costs of the cumene industry may be increased due to these regulations on emissions, waste disposal, and sustainability. These additional costs along with the need for advanced, cleaner production technology may limit market growth in areas that are highly regulated such as North America and Europe.

Request Free Customization of this report to help us to meet your business objectives.

Cumene Market Competitive Landscape

The competitive environment in the global cumene market is led by major companies controlling manufacturing and supply, such as ExxonMobil, Reliance Industries, and SABIC. These companies focus on improved manufacturing efficiency and more efficient catalysts to remain in a competitive position. Region-specific small companies are increasing market growth, and environmental friendliness in production and sustainability will further play a key role in this market. Innovation and strategic partnerships are essential components determining the competitive landscape of this market.

Top Players in Cumene Market

  • ExxonMobil Chemical
  • Reliance Industries
  • SABIC (Saudi Basic Industries Corporation)
  • Shell Chemicals
  • LG Chem
  • Dow Chemical Company
  • BASF SE
  • INEOS Group
  • LyondellBasell Industries
  • Chevron Phillips Chemical Company
  • E. I. du Pont de Nemours and Company (DuPont)
  • Formosa Plastics Corporation
  • Haldia Petrochemicals Limited
  • Mitsubishi Chemical Corporation
  • China National Petroleum Corporation (CNPC)

Recent Developments

  • To enhance the competitiveness of the company, INEOS agreed in August 2022 to buy the entire base of Mitsui Phenols Singapore Ltd. from Mitsui Chemicals for a total value of USD 330 million. This acquisition includes the production of 410 ktpa of cumene.
  • Formosa declared in September 2021 that it will expand its cumene and phenol factory in Ningbo, China, using an engineering design and Lummus technology license. The expansion raised the capacity of an existing 450 kMTA cumene and 300 kMTA phenol plant to 600 kMTA cumene and 400 kMTA phenol.
  • PPG announced, in May 2021, that it had finished the investment of USD 13m in its paint and coatings facility in Jiading, China. The investment included eight new powder coating production lines, in addition to an expanded powder coatings technology center, which is expected to enhance PPG's ability for research and development. With the expansion, plant capacity will increase by some 8,000 tons a year.

Cumene Key Market Trends

Cumene Market SkyQuest Analysis

SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

As per SkyQuest analysis, increasing demand for phenol and acetone, which are critical in several industries such as electronics, pharmaceuticals, and automotive, is predicted to drive the continued growth of the global cumene market. Technological advancements, increased demand for consumer electronics, and emergence of developing markets in Latin America and Asia-Pacific are among the primary factors that drive the market's growth. Despite the challenges such as fluctuating raw material prices and environmental regulations, the market is accepting the new trends in the bio-based alternatives and greener manufacturing processes. As such, major competitors are already investing in sustainability and efficiency, changing the competitive environment, ensuring that the cumene market will continue to expand and remain vibrant in the future years.

Report Metric Details
Market size value in 2023 USD 25.39 Billion
Market size value in 2032 USD 27.74 Billion
Growth Rate 4.5%
Base year 2024
Forecast period (2025-2032)
Forecast Unit (Value) USD Billion
Segments covered
  • Production
    • Zeolite, Solid Phosphoric Acid, and Aluminum Chloride
  • Application
    • Phenol, Acetone, and Others
  • End-Use Industry
    • Chemical Industry, Automotive Industry, Pharmaceuticals & Healthcare, Construction & Building Materials, and Consumer Goods & Packaging
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • ExxonMobil Chemical
  • Reliance Industries
  • SABIC (Saudi Basic Industries Corporation)
  • Shell Chemicals
  • LG Chem
  • Dow Chemical Company
  • BASF SE
  • INEOS Group
  • LyondellBasell Industries
  • Chevron Phillips Chemical Company
  • E. I. du Pont de Nemours and Company (DuPont)
  • Formosa Plastics Corporation
  • Haldia Petrochemicals Limited
  • Mitsubishi Chemical Corporation
  • China National Petroleum Corporation (CNPC)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Cumene Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Cumene Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Cumene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cumene Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cumene Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Cumene Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW

REQUEST FOR SAMPLE

Want to customize this report? REQUEST FREE CUSTOMIZATION

FAQs

Global Cumene Market size was valued at USD 25.39 Billion in 2023 and is poised to grow from USD 26.54 Billion in 2024 to USD 27.74 Billion by 2032, growing at a CAGR of 4.5% in the forecast period (2025-2032).

The competitive environment in the global cumene market is led by major companies controlling manufacturing and supply, such as ExxonMobil, Reliance Industries, and SABIC. These companies focus on improved manufacturing efficiency and more efficient catalysts to remain in a competitive position. Region-specific small companies are increasing market growth, and environmental friendliness in production and sustainability will further play a key role in this market. Innovation and strategic partnerships are essential components determining the competitive landscape of this market. 'ExxonMobil Chemical', 'Reliance Industries', 'SABIC (Saudi Basic Industries Corporation)', 'Shell Chemicals', 'LG Chem', 'Dow Chemical Company', 'BASF SE', 'INEOS Group', 'LyondellBasell Industries', 'Chevron Phillips Chemical Company', 'E. I. du Pont de Nemours and Company (DuPont)', 'Formosa Plastics Corporation', 'Haldia Petrochemicals Limited', 'Mitsubishi Chemical Corporation', 'China National Petroleum Corporation (CNPC)'

The global cumene market is mainly driven by the ever-increasing demand for phenol and acetone in many parts of the globe, including the plastic, automotive, and pharmaceutical industries. These chemicals are crucial intermediates in several other processes, including solvents, adhesives, and resins production. Demand for cumene as a raw material increases with the growth of these industries, which will ensure constant expansion of the market.

Growing Interest in Bio-based Substances: Concerns related to sustainability are increasingly influencing the global cumene market trends in several sectors. As producers seek alternative methods of producing cumene which are bio-based, pressure is being felt on the industry. Even though traditional petrochemical-based production dominates the market today, the industry is increasingly veering toward greener manufacturing processes by virtue of increasing attention toward renewable resources and reducing environmental impacts.

In 2024, Asia-Pacific led the global cumene market owing to the increasing petrochemical demand, fast industrialization pace, and growth in manufacturing capabilities of this region. Countries such as China, India, and Japan have developed strong chemical industries which, in turn depend upon cumene as one of the most important raw materials to manufacture phenol and acetone. This further increases the requirement for phenol and acetone derivatives, such as methyl methacrylate and bisphenol A, in the increasing electronics, consumer goods, and automobiles sectors of the region. Asia-Pacific is consolidating its leadership position in the market, since the growing use of cumene-derived goods is further stimulated by a rising middle class, growing urbanization, and high disposable incomes.

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Cumene Market

Report ID: SQMIG15E2570

[email protected]
USA +1 351-333-4748

BUY NOW GET FREE SAMPLE