During the fourth quarter of 2024, the cumene prices in the United States reached 972 USD/Ton in December. The market was impacted by persistent weak demand from downstream sectors such as phenol and bisphenol, leading to subdued pricing. Supply chain disruptions, exacerbated by strikes at key ports, added to the uncertainty. Despite relatively stable domestic production levels, manufacturers opted for steady pricing to avoid further market deterioration.

Explore IMARC’s newly published report, titled “Cumene Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of cumene pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Why did the Cumene Price Change in July 2025? Cumene Price Index in APAC declined during the second quarter by 17%, despite intermittent gains during May and June. Prices settled at USD 910/MT CFR Shanghai by the end of June.

Get the latest insights on price movement and trend analysis of Cumene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The Cumene Market report segments the industry into Catalyst Type (Aluminum Chloride Catalyst, Solid Phosphoric Acid (SPA) Catalyst, Zeolite Catalyst, Other Catalyst Types), Application (Phenol, Acetone, Other Applications (Including Paints, Enamels, Aviation Fuels, and Others)), and Geography (Asia-Pacific, North America, Europe, South America, Middle-East and Africa).

In 2024, the global cumene market decreased by -0.9% to $2.3B, falling for the second year in a row after three years of growth. Overall, the total consumption indicated a mild expansion from 2012 to 2024: its value increased at an average annual rate of +1.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -13.7% against 2022 indices.

Driven by increasing demand for cumene in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.5% for the period from 2024 to 2035, which is projected to bring the market volume to 555K tons by the end of 2035. In value terms, the market is forecast to increase with an anticipated CAGR of +0.7% for the period from 2024 to 2035, which is projected to bring the market value to $592M (in nominal prices) by the end of 2035.

The global cumene market attained a value of USD 22.90 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 4.30%, to reach USD 34.89 Billion by 2034. Cumene, also known as isopropyl benzene, is an organic compound formed through Friedel-Crafts alkylation of benzene with propylene. This aliphatic substitution process is key in producing cumene, which boils at a temperature suitable for various industrial uses. Increasing demand across applications such as laminates, composites, and plastics is fuelling market growth. Additionally, cumene plays a crucial role in the production of refined fuels and chemical intermediates. These factors are expected to support the expansion of the global cumene market significantly.

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Cumene Market Size 2024-2028

The cumene market size is forecast to increase by USD 6.76 billion at a CAGR of 4.96% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for acrylic films and laminates in various industries, including transportation, industrial, healthcare, and consumer goods. Phenol, a key derivative of cumene, is extensively used in the production of polycarbonate plastic and methyl methacrylate, which are essential components in these applications. Moreover, the demand for food-grade cumene is on the rise due to its usage in the production of methyl isobutyl ketone and bisphenol-A, which are widely used in the manufacturing of food-grade plastics and resins. However, the market growth is challenged by the health hazards associated with cumene production and handling.

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The market is driven by the demand for phenol and acetone, two primary derivatives of cumene. Cumene is a flammable organic compound derived from refined crude oil. It is used as a raw material in the production of phenol and acetone. Phenol is further used in the manufacturing of bisphenol A, alpha-methylstyrene, and phenolic resins. These products find applications in various industries, including fuel additives, high-octane production fuels, solvents in paints, sealants, and enamels.

Further, the phenol subsegment dominates the market due to the high demand for phenol in the production of phenolic resins. The zeolite subsegment is expected to witness significant growth due to the increasing use of zeolite-based catalysts in the production of cumene hydroperoxide, a key intermediate in the production of isopropylbenzene.

However, the demand for phenol and acetone is expected to remain stable due to their wide range of applications. In conclusion, the market is driven by the demand for phenol and acetone and the increasing use of zeolite-based catalysts in the production of cumene hydroperoxide. The market is expected to witness stable growth due to the wide range of applications of phenol and acetone in various industries.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Phenol
  Acetone
  Others


Technology

  Zeloite
  Solid phosphoric acid
  Aluminum chloride


Geography

  APAC

    China
    Japan


  North America

    US


  Europe

    Germany
    UK


  South America



  Middle East and Africa

By Application Insights

The phenol segment is estimated to witness significant growth during the forecast period. The phenol segment in the market encompasses the diverse applications of phenol, a significant derivative of cumene. Phenol is predominantly utilized in the manufacturing of various chemicals, with bisphenol-A being a prime example. This chemical, derived from phenol, is extensively employed in the production of polycarbonate and epoxy resins. These resins are integral to the fabrication of electronic components, automotive parts, and packaging materials.

Moreover, phenolic resins are extensively used in the production of consumer goods, such as adhesives, coatings, and insulation materials. Methyl styrene, another derivative of cumene, is used in the production of polystyrene and acrylonitrile butadiene styrene (ABS) resins. These plastics are commonly used in the production of plastic containers, bottles, kitchenware, and various other consumer goods. Additionally, phenol and its derivatives find applications in the production of oils, fats, waxes, and rubber, further expanding their market scope.

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The phenol segment accounted for USD 12.82 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market holds significant importance in the global chemical industry, particularly in the production of fuel additives, such as high-octane production fuels. Cumene is also utilized as a solvent in paints, enamels, sealants, and coatings, contributing to its demand in the plastic industry. In 2023, the APAC region led the market, accounting for a substantial market share, driven by the expanding chemical manufacturing sector and increasing end-user demand in countries like China, which represents over 20% of the global coatings market. Nippon, for instance, has upgraded its coatings production process in new Chinese p

The global cumene market size was USD 19.90 Billion in 2021, Increasing usage of cumene as an intermediate in the production of acetone and phenol, and extensive utilization as a solvent, and thinner in paints & coatings, enamels, and lacquers are major factors driving the market

Global Cumene market size revenue was assessed at $18.91 Billion in 2022 and projected to climb to $26.50 Billion by 2030, at a CAGR of 4.31%

In 2024, the Israeli cumene market increased by 1% to $1.5K for the first time since 2021, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $1.6K in 2021; however, from 2022 to 2024, consumption stood at a somewhat lower figure.

According to Cognitive Market Research, the global cumene market size is USD 20154.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.70% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 8061.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.9% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 6046.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 4635.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 1007.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 403.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
The Zeolite Cumene held the highest cumene market revenue share in 2024

Market Dynamics of Cumene Market

Key Drivers for Cumene Market

Growth in the Economy and Rising Spending to Increase the Demand Globally

A vital component of several compounds, including phenol, acetone, and their derivatives, is cumene. After that, these compounds are utilized to make a wide range of consumer products, including paints, plastics, resins, and synthetic fibers. The demand for these end-user goods typically rises with economic growth. More money is placed in people's pockets when their discretionary income rises. This means that more products—including those made with components produced from cumene—will be consumed. For example, persons with more disposable income could use plastics and resins to buy new cars or use paints and coatings to remodel their homes.

Growing Need for Phenol and Acetone to Propel Market Growth

Cumene sales are further boosted by the rising demand for acetone and phenol derivatives such as phenolic resins and bisphenol-A. Phenolic resins are necessary for the creation of laminates and composites, and bisphenol-A is a crucial component of polycarbonate plastics. The growth of the building and construction industries worldwide raises consumer demand for goods like phenol (construction materials) and acetone (solvent), which in turn increases cumene consumption. A vital component in the production of phenol and acetone is cumene. These are common chemicals that are utilized in many different industries, including electronics, construction, pharmaceuticals, and the automotive sector.

Restraint Factor for the Cumene Market

Rivalry from substitute materials to Limit the Sales

The competition from alternative materials is one of the main things holding back the cumene business. Styrene, an alternative to some phenol uses, can be made from ethylbenzene. Because of environmental concerns, bio-based phenol, which is made from renewable resources like biomass, is gaining popularity. Additionally, phenol recycling is becoming more popular, which may lessen the need for virgin phenol made from cumene. The price fluctuation of crude oil can have a substantial effect on cumene production costs. Because cumene is derived from petroleum, changes in the price of crude oil may increase the economic appeal of bio-based or recycled substitutes. Investment in the capacity to produce cumene may be discouraged by this uncertainty. The performance of recycled and bio-based materials is always being improved via research and development. The adoption of these substitutes is anticipated to increase as they approach technological parity with cumene-derived products, hence diminishing cumene's market share.

Impact of Covid-19 on the Cumene Market

The cumene market experienced both challenges and opportunities due to the impact of COVID-19. 2020 saw the first epidemic, which set off a chain reaction. The transfer of cumene and its derivatives, such as phenol and acetone, was hampered by supply chain disruptions caused by lockdowns and travel restrictions. This resulted in a steep reduction in demand for these products across a number of industries, along with a downturn in economic activity. Cumene is used in many different industries, including polymers, paints, cosmetics, and aviation fuel. Lockdowns and trav...

The Europe cumene market reached a volume of 15.00 MMT in 2024, accounting for about a fifth of the global cumene market. Europe is one of the leading consumer markets for the product. The market growth and demand for cumene is significantly dependent on the phenol and acetone markets since nearly all of the total volume of cumene is used for the production of acetone and phenol.

Global Cumene Market will grow at a CAGR of 4.4% during the forecast period, with an estimated size and share crossing USD 29.45 billion by 2032.

The global Cumene market has reached approximately 15 million tonnes in 2024 and is expected to grow at a CAGR of 4.21% during the forecast period until 2035.

Cumene Market Outlook

According to our latest research, the global cumene market size in 2024 stands at approximately USD 24.8 billion, with a robust compound annual growth rate (CAGR) of 4.7% projected from 2025 to 2033. By the end of 2033, the cumene market is forecasted to reach a valuation of nearly USD 37.2 billion. This growth trajectory is primarily driven by the escalating demand for phenol and acetone, which are critical derivatives of cumene, across a wide range of industries including chemical manufacturing, automotive, construction, and electronics. As per our latest research, the market’s expansion is further propelled by technological advancements in production processes and the increasing utilization of cumene-based products in emerging economies.

The primary growth driver for the cumene market is the surging demand for phenol and acetone, which together account for a significant share of global chemical manufacturing. Phenol, derived from cumene, is a crucial precursor for the production of bisphenol-A, which is extensively used in the manufacture of polycarbonate plastics and epoxy resins. These materials are in high demand across industries such as automotive, electronics, and construction due to their durability, versatility, and lightweight properties. Additionally, acetone, another major derivative, finds widespread application as a solvent in paints, coatings, adhesives, and pharmaceuticals, further bolstering the cumene market’s growth momentum. The integration of cumene in these value chains makes it an indispensable component in the global industrial landscape.

Another significant factor fueling the expansion of the cumene market is the ongoing modernization and scaling-up of production facilities, particularly in Asia Pacific and the Middle East. The adoption of advanced catalytic processes, such as the zeolite-based cumene production method, has led to higher yields, improved product purity, and reduced environmental impact. These technological enhancements are not only optimizing operational efficiencies but also enabling manufacturers to meet the stringent quality standards set by downstream industries. Moreover, the shift towards integrated petrochemical complexes and strategic collaborations among key players have streamlined supply chains, reduced production costs, and enhanced the overall competitiveness of the cumene market on a global scale.

Environmental regulations and sustainability trends are also shaping the cumene market’s growth trajectory. With increasing emphasis on reducing carbon footprints and adopting greener production methods, manufacturers are investing in eco-friendly technologies and recycling initiatives. The development of bio-based feedstocks and energy-efficient processes is gaining traction, particularly in Europe and North America, where regulatory frameworks are more stringent. These initiatives not only help companies comply with environmental standards but also appeal to environmentally conscious consumers and investors, thereby fostering long-term market growth.

Regionally, Asia Pacific continues to dominate the cumene market, accounting for the largest share due to the rapid industrialization and urbanization in countries such as China, India, and Southeast Asian nations. The region’s expanding chemical, automotive, and construction sectors are major consumers of phenol, acetone, and their derivatives, driving sustained demand for cumene. North America and Europe also represent significant markets, supported by established manufacturing bases and ongoing investments in research and development. Meanwhile, the Middle East and Africa are emerging as promising markets, with increasing investments in petrochemical infrastructure and favorable government policies aimed at diversifying their industrial portfolios.

Product Type Analysis

The cumene market is broadly segmented by product type into Polymer Grade Cumene and Chemical Grade Cumene. Polymer grade cumene is characterized by its high purity level, making it suitable for applications that demand stringent quality standards, such as the production of polycarbonate plastics and high-performance resins. This segment is witnessing substantial growth, driven by the rising demand for advanced polymers in automotive, electronics, and packaging industries. Manufacturers are increasingly focusing on improving production technologies to achieve higher purity levels, reduce impurities, and enhance process efficiencies. The

Global Cumene market study report provides detailed information on forecasts by current market dynamics and growth opportunities.

[307 Pages Report] The cumene market is anticipated to register a CAGR of 5.4% during the period of 2022-2032. The cumene market is anticipated to reach US$ 42.7 Billion in 2032, from US$ 25.1 Billion in 2022. The market was valued at US$ 23.5 Billion in 2021, and is expected to grow with a Y-O-Y growth rate of 6.8%.

Cumene Market Outlook

According to our latest research, the global cumene market size reached USD 24.9 billion in 2024, reflecting robust demand across key industrial sectors. The market is expected to register a CAGR of 4.7% from 2025 to 2033, leading to a forecasted market size of USD 37.7 billion by 2033. This growth is primarily driven by the expanding use of cumene in phenol and acetone production, which are vital raw materials for a diverse array of downstream industries. The market’s trajectory is further supported by technological advancements in manufacturing processes and a steady increase in demand from emerging economies.

One of the pivotal growth factors for the cumene market is the surging demand from the phenol and acetone production segment. Cumene serves as a critical intermediate in the cumene process, which accounts for the bulk of global phenol and acetone output. Phenol is extensively used in the production of bisphenol-A, a key precursor for polycarbonate plastics and epoxy resins, while acetone finds widespread applications as a solvent and chemical intermediate. The growth of end-use sectors such as automotive, electronics, and construction, all of which rely heavily on plastics and resins, directly fuels the demand for cumene. Additionally, the shift towards lightweight materials in automotive and electronics manufacturing further amplifies the demand for phenol-derived products, thereby boosting cumene consumption.

Another significant driver is the increasing adoption of cumene as a solvent and chemical intermediate in various industrial processes. Cumene’s favorable solvency properties make it an essential component in the formulation of paints, coatings, adhesives, and thinners. The paints and coatings industry, in particular, has witnessed a notable uptick in demand due to rapid urbanization, infrastructural development, and rising construction activities worldwide. This trend is especially prominent in emerging markets, where government initiatives to boost infrastructure are translating into higher consumption of industrial chemicals, including cumene. Furthermore, the pharmaceutical industry’s growing reliance on high-purity cumene for specialized applications is also contributing to market expansion.

Technological advancements and process optimizations in cumene manufacturing have also played a crucial role in shaping the market landscape. Modern production methods, such as zeolite-based catalytic processes, offer improved efficiency, higher yields, and reduced environmental impact compared to traditional acid-catalyzed methods. These innovations are enabling manufacturers to meet stringent regulatory requirements and cater to the evolving needs of environmentally conscious consumers. Moreover, the integration of digital technologies and automation in chemical plants has enhanced operational efficiency and product quality, further strengthening the competitive position of leading market players. Collectively, these factors are fostering a favorable environment for sustained market growth over the forecast period.

Regionally, the Asia Pacific region dominates the global cumene market, accounting for the largest share in terms of both production and consumption. The region’s leadership is underpinned by the presence of major chemical manufacturing hubs in China, India, and Southeast Asia, coupled with robust growth in downstream industries. North America and Europe also represent significant markets, driven by mature chemical and pharmaceutical sectors, though their growth rates are relatively moderate compared to Asia Pacific. Meanwhile, the Middle East & Africa and Latin America are emerging as promising markets, benefiting from increased investments in industrial infrastructure and favorable government policies aimed at promoting chemical manufacturing. This regional diversity ensures a broad and resilient demand base for cumene across the globe.

Product Type Analysis

The cumene market is segmented by produc

In 2024, the Malaysian cumene market increased by 70% to $20M, rising for the fourth consecutive year after three years of decline. In general, consumption posted a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.