In the realm of Asia, Cumene experienced varying price trajectories in the initial half of 2023. Fresh demands from downstream sectors like plastics and paints surged following the reopening of Chinese markets post-lockdown. These trends persisted in the first quarter, bolstered by increased shopping during the Chinese Lunar New Year festivities. However, mounting stocks due to abundant supplies altered market sentiments as demand waned and inventories rose, causing prices to decline in the second quarter.
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Europe's Cumene market mirrored similar sentiments, with prices initially elevated due to stabilized supply chains and crude oil costs amidst the Russia-Ukraine conflict, later dipping as inventories surged. The North American Cumene market exhibited analogous behaviour, with prices climbing in the first quarter owing to strong demand and upstream support but declining as the quarter shifted, resulting in a fluctuating trend overall across the first half of 2023.
Definition
Cumene, also known as isopropylbenzene, is an organic compound with the chemical formula C9H12. It's a colorless liquid hydrocarbon derived from benzene and propylene. It holds significance as a key intermediate in the production of phenol and acetone, which are crucial compounds used in various industries, including plastics, resins, and pharmaceuticals.
Key Details About the Cumene Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the cumene price forecast in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Cumene Price chart, including India Cumene price, USA Cumene price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Cumene Price Trend:
Cumene plays vital roles in several industries. Primarily, it's a pivotal precursor in the synthesis of phenol and acetone, used extensively in plastics, resins, and coatings. Additionally, it finds applications in producing adhesives, paints, and pharmaceuticals, showcasing its versatility across sectors requiring compounds derived from this important hydrocarbon.
Key Players:
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- BASF SE
- Sumitomo Chemical Co. Ltd
- The Dow Chemical Company
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