Common Market Expected to be worth $28.02 billion by 2030, registering a CAGR of 4.32%
The global cumin market is mainly driven by its use as a chemical intermediate for the production of phenol and acetone. Phenol and its derivatives produced from cumene are used in various applications such as electricity and electronics, automotive, paints and coatings, cosmetics and others.
Cumene is a volatile, flammable, high-boiling, organic compound with a gasoline-like odor. It occurs naturally in coal tar and crude oil and is a mixed component in gasoline. Commercially, Friedel-Crafts alkylation is used for the production of cumin.
Market segmentation
The global cumin market is segmented on the basis of product, manufacturing technology, application, and region.
Based on product, the global cumin market is segmented into phenol and acetone.
Cumin production technology is divided into zeolite-based catalysts, solid phosphoric acid and aluminum chloride.
On the basis of application segment, the global cumin market is segmented into chemical intermediate and solvent.
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Competitive analysis
Some of the prominent producers in the global cumin market are Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (USA), BASF SE (Germany), Sumitomo Chemical Co. Ltd (Japan), The Dow Chemical Company (USA), Westlake Chemical Corporation (USA), Taiwan Cement Corp (Taiwan), Braskem (Brazil), China Petrochemical Corporation (China), and SABIC (Saudi Arabia).
regional analysis
The global cumin market spans five regions Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Asia Pacific is expected to lead the global cumin market due to the high demand for phenolic-based products used in various applications such as electronics, paints and coatings, automotive, and others in countries such as China, India, and Japan.
The US is the major contributor to the North American market due to the high usage of cumin-based products in electronics such as laptops, smartphones, and others.
Europe is expected to witness significant growth in the market due to the increasing demand for cumin from the plastics and composites industries.
Latin America and the Middle East and Africa are other significant regions in the cumin market driven primarily by the growing automotive and consumer electronics sectors respectively.
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