Allied Market Research, forecasts that the global Cumene Market was valued at $16,330 million in 2015, and is expected to reach $25,089 million by 2022, supported by a CAGR of 6.5% during the forecast period 2016 to 2022. The phenol/acetone segment accounted for the highest share in the global market in 2015.
Cumene
is a clear and colorless liquid with an aromatic odor, and is a constituent of
finished fuels and crude oil. It has a molecular weight of 120.2 (g/mol) with a
boiling point of 152-153°C and melting point of −96°C. It is used in petroleum
products, and as a thinner for paints, lacquers, enamels, and high octane
fuels, and production of acetophenone, acetone, methylstyrene, and phenol. In
addition, it is used in the production of acetophenone, acetone, methylstyrene,
and phenol.
Do Enquiry for Sample Report @ https://www.alliedmarketresearch.com/request-free-sample/1984
Growth
in population and rise in income levels present numerous opportunities for the
market expansion. Moreover, development of the overall chemical industry
globally and rise in demand for phenolic resins are further anticipated to
boost the overall growth. In addition, increase in production of bisphenol-A
for the production of polycarbonate & epoxy resins and growth in demand for
phenol in the production of composites, plastics, and laminates are anticipated
to supplement the global market. However, volatile prices of crude oil and
hazardous health effects of cumene are some factors anticipated to hamper the
overall growth.
The
phenol/acetone segment accounted for the highest share, in terms of volume, in
2015. In response to the perennial modifications in the paints & coatings
industry, efficient thinners are in demand globally. Thus, increase in requirement
of cumene as a thinner and rise in the use of phenol-based composites and
plastics fuel the demand globally.
According
to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market
Research, "The demand for efficient and inexpensive thinners is
increasing, owing to growth in paints & coatings
industry globally. Moreover, rise in demand
for phenolic resins and phenol-based composites & plastics across wide
number of end-use industries provide lucrative opportunities for players
in the global cumene market."
KEY FINDINGS OF CUMENE MARKET
·
The phenol/acetone segment is
anticipated to grow at the highest CAGR during the analysis period.
·
Asia-Pacific is projected
to maintain its lead position from 2016 to 2022, growing at a CAGR of 4.9%, in
terms of volume.
·
China occupied around
one-third share of the Asia-Pacific market in 2015.
·
In terms of value, UK is
expected to grow at a significant CAGR of 5.9%.
In
2015, Asia-Pacific and LAMEA collectively accounted for more than
half of the global market, in terms of volume, and are expected to continue
this trend, owing to increase in urbanization, specifically
in China, India, Brazil, and other developing countries.
Moreover, rise in urban population with increased per capita disposable income
and increase in overall consumer expenditure drive the growth of
the Asia-Pacific market.
The
key companies profiled in the report include Royal Dutch Shell Plc., Exxon
Mobil Corporation, Total S.A., BP Plc., Sumitomo Chemical Co., Axiall
Corporation, SABIC, BASF SE, The Dow Chemical Company, and JX Nippon Oil.
Purchase Report @ https://www.alliedmarketresearch.com/purchase-enquiry/1984
About Us:
Allied Market Research (AMR) is
a full-service market research and business-consulting wing of Allied Analytics
LLP based in Portland, Oregon. Allied Market Research provides global
enterprises as well as medium and small businesses with unmatched quality of
“Market Research Reports” and “Business Intelligence Solutions”. AMR has a
targeted view to provide business insights and consulting to assist its clients
to make strategic business decisions and achieve sustainable growth in their
respective market domain.
We are in professional corporate
relations with various companies and this helps us in digging out market data
that helps us generate accurate research data tables and confirms utmost
accuracy in our market forecasting. Each and every data presented in the
reports published by us is extracted through primary interviews with top
officials from leading companies of domain concerned. Our secondary data
procurement methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285,
+1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web:
https://www.alliedmarketresearch.com
Market Pulse:
https://blog.alliedmarketresearch.com/2
No comments:
Post a Comment