Cumene market expected to reach US$14198 mln in 2018

Cumene, also known as isopropylbenzene, is a colorless liquid and has its boiling point at 153oC and melting point at -96oC. It is used as feedstock for the production of phenol and its co-product, acetone. It is also used as a thinner for paints, enamels, and lacquers, and to produce acetophenone, dicumylperoxide, and diso-propyl benzene. Cumene is also used as a solvent for fats and raisins. It is also manufactured from propylene and benzene by utilizing an acidic catalyst. High-purity cumene is easily produced from either refining or steam cracker-derived propylene. In 2012, the revenue for cumene producers was about US$9105.7 mln and is expected to reach US$14198.3 mln by 2018, as per MarketMonitor. In 2012, with the consumption of around 98.8% of the regional demand, the U.S. was the leading consumer of cumene in North America, and is expected to grow at an estimated CAGR of 4.5% during the period 2013 to 2018. The North American cumene market was valued at about US$4084.5 million in 2012, and is projected to reach US$6386.7 million by 2018. Germany and Belgium were the biggest consumers of cumene in Europe, cumulatively consuming almost 48.8% of the regional demand and 14.6% of the global demand, in 2012. Belgium was among the net importers of cumene with a net import of about 727.0 KT in 2012, whereas the Netherlands was among the net exporters with a net export of about 543.0 KT of cumene in the same year. In 2012, the European cumene market was valued at about US$4513.5 million, and is expected to reach US$6549 million by 2018. Poland is expected to be the fastest-growing country in the region during the period 2013 to 2018, at a CAGR of about 14.2%. Taiwan and Japan were the biggest consumers of cumene in the Asia-Pacific region, cumulatively consuming almost 46.2% of the regional demand and 17.3% of the global demand in 2012. In 2012, around 4,639.2 KT of cumene was consumed in Asia-Pacific, with a projected growth at 5.9% from 2013 to 2018. Taiwan was the leading consumer of cumene in the region, consuming about 25.4% of the total regional demand in 2012, expected to grow at a CAGR of 4.6% during the forecast period. Among the key countries, India is expected to be the fastest-growing cumene market in the region, expected to grow at a CAGR of 11%-12% from 2013 to 2018. Taiwan and South Korea were among the key net importers of cumene. In 2012, the Asia-Pacific cumene market was valued at about US$5523.8 million, and is projected to reach US$8900.1 million by 2018.