India Maleic Anhydride Market, By Raw Material (N-butane, Benzene), By Application (Unsaturated Polyester Resins (UPR), 1,4-BDO, Lubricating Oil Additives, Copolymers, Food Additives, Others), By Region, Competition, Forecast and Opportunities, 2020-2030F
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Maleic Anhydride Market, By Raw Material (N-butane, Benzene), By Application (Unsaturated Polyester Resins (UPR), 1,4-BDO, Lubricating Oil Additives, Copolymers, Food Additives, Others), By Region, Competition, Forecast and Opportunities, 2020-2030F
| Forecast Period | 2026-2030 |
| Market Size, By Volume (2024) | 5.68 thousand Metric Tonnes |
| CAGR (2025-2030) | 3.65% |
| Fastest Growing Segment | Unsaturated Polyester Resins (UPR) |
| Largest Market | West India |
| Market Size, By Volume (2030) | 6.80 thousand Metric Tonnes |
Market Overview
India Maleic Anhydride Market achieved a total market volume of 5.68 thousand Metric Tonnes in 2024 and is poised for significant growth to reach
Maleic anhydride, a versatile chemical compound with a range of industrial applications, plays a significant role in the production of resins, coatings, and various chemical intermediates. As a crucial intermediate, maleic anhydride contributes significantly to India's chemical and industrial landscape. The Indian maleic anhydride market has witnessed substantial growth due to the country's expanding industrial base, the demand for resins and coatings, and its pivotal role in the production of various chemical products. The Indian maleic anhydride market has experienced significant growth in recent years.
Maleic anhydride is a versatile chemical with applications ranging from the production of unsaturated polyester resins to the synthesis of chemical intermediates. Its importance is underscored by its role in various industries, from plastics to agriculture. The production of unsaturated polyester resins is a significant driver of the maleic anhydride market in India. Maleic anhydride serves as a crucial raw material in the synthesis of these resins used in various industrial applications, including the manufacturing of fiberglass-reinforced plastics. The expansion of India's construction and automotive sectors has contributed to the demand for unsaturated polyester resins.
Maleic anhydride is used in the production of agrochemicals and various chemical intermediates, including malic acid and fumaric acid. The growth of the agrochemicals and specialty chemicals sectors has significantly increased the demand for maleic anhydride. Maleic anhydride finds application in the production of coatings and adhesives. As India's construction and automotive industries grow, the demand for coatings and adhesives has increased. Maleic anhydride is a corrosive and toxic chemical that requires careful handling and storage. Adherence to stringent safety protocols is crucial to mitigate these risks. The production and use of maleic anhydride can raise environmental concerns, particularly in terms of emissions and waste disposal. Regulatory compliance and responsible disposal are vital challenges. There is a growing emphasis on adopting green and sustainable practices in maleic anhydride production. The industry is exploring cleaner and more environmentally friendly production methods. Research and development efforts are directed towards the development of bio-based maleic anhydride, potentially influencing the demand for sustainable alternatives.
The future outlook for the Indian maleic anhydride market remains positive. As India's construction, automotive, and specialty chemicals sectors continue to grow, the demand for maleic anhydride is expected to persist. The industry is also likely to adapt to emerging trends, with a strong focus on green and sustainable practices in production and the development of bio-based alternatives. The Indian maleic anhydride market is a vital player in supporting the country's construction, automotive, and specialty chemicals sectors. As India advances on its path of industrialization and environmental awareness, the market is poised to evolve and thrive, reinforcing its significance in the chemical and manufacturing landscape of the nation.
Key Market Drivers
Increasing Use of Maleic Anhydride for Production of Unsaturated Polyester Resins Propels Indian Maleic Anhydride Market Growth
The Indian maleic anhydride market is experiencing notable growth, primarily driven by the increasing demand for the production of unsaturated polyester resins(UPRs). Maleic anhydride, a versatile chemical compound, plays a pivotal role in the synthesis of UPRs, contributing to the expansion of India's maleic anhydride market.
The key factors fueling the surge in demand for maleic anhydride in India is its essential role as a key precursor in the production of UPRs. Unsaturated polyester resins are a class of thermosetting polymers widely used in various industries, including construction, automotive, marine, and manufacturing. UPRs are renowned for their versatility, durability, and resistance to corrosion, making them vital for a wide range of applications.
Maleic anhydride serves as a critical component in the synthesis of UPRs. It under goes a reaction with a variety of diols or polyols, such as propylene glycol and ethylene glycol, to form the backbone of UPRs. This reaction results in a polymer that can be further modified and customized to meet specific performance requirements. UPRs derived from maleic anhydride are used to manufacture composite materials, fiberglass products, coatings, and a range of molded and laminated components.
The construction industry is one of the major consumers of UPRs. These resins are used to produce composite materials for building and infrastructure applications. UPR-based composites are highly valued for their strength-to-weight ratio, which makes them ideal for reinforcing concrete structures, producing lightweight panels, and enhancing the durability of construction materials. As India witnesses continued growth in construction and infrastructure development, the demand for UPRs, and thus maleic anhydride, is on the rise.
Moreover, the automotive sector relies on UPRs for various applications, including manufacturing body panels, bumpers, and interior components. UPRs provide automotive parts with high strength and resistance to corrosion, contributing to vehicle safety and longevity. The growth of the automotive industry in India, driven by increased consumer demand, innovation, and sustainability goals, underscores the demand for UPRs derived from maleic anhydride.
The marine industry is another significant user of UPRs, particularly for producing boat hulls and components. UPR-based composites offer excellent water resistance, durability, and ease of moldability, making them the material of choice for marine applications. As India's coastal areas and water-based recreational activities continue to thrive, the demand for UPRs in the marine industry grows, along with the demand for maleic anhydride.
Manufacturing, including the production of pipes, tanks, and various industrial components, also heavily relies on UPRs. These resins contribute to the production of durable and corrosion-resistant equipment, essential in numerous industrial processes. The demand for UPRs in the manufacturing sector drives the need for maleic anhydride, as it is a fundamental precursor in UPR synthesis. T
The growth of India's composite industry, which is closely linked to UPR production, is another significant factor driving the demand for maleicanhydride. Composites are widely used in various sectors, including aerospace, wind energy, and sports equipment manufacturing. As India aims to promotesustainability and advanced manufacturing, composites derived from maleic anhydride are likely to play a central role in these industries.
Rising Demand of Maleic Anhydride-basedPaint and Coating from Construction and Automotive Industries Propels India's MaleicAnhydride Market Growth
TheIndian maleic anhydride market is experiencing robust growth, primarily drivenby the increasing demand for maleic anhydride-based paint and coatings,particularly from the construction and automotive industries. Maleic anhydride,a versatile chemical compound, serves as a crucial ingredient in the synthesisof various paints, coatings, and resins, contributing to the expansion ofIndia's maleic anhydride market.
Theconstruction industry is a significant driver of the demand for maleicanhydride-based paints and coatings. These materials are used in architecturalcoatings, such as exterior and interior paints, varnishes, and sealants, aswell as in protective coatings for infrastructure and building components.Maleic anhydride contributes to the performance and longevity of these coatingsby enhancing their adhesion, weather resistance, and durability. As Indiaexperiences rapid urbanization and infrastructure development, the demand forhigh-quality paints and coatings in construction applications is on the rise.
The automotive industry heavily relies on maleic anhydride-based coatings forvehicles. These coatings are applied to various automotive components,including the vehicle's body, engine parts, and interior surfaces. Maleicanhydride-based coatings provide a protective layer that enhances theappearance of the vehicle and offers corrosion resistance, ensuring thelongevity of automotive components. As the automotive sector in India continuesto grow, driven by increasing consumer demand, technological advancements, andsustainability goals, the demand for maleic anhydride-based coatings isexpected to increase.
Inaddition to the construction and automotive industries, maleic anhydride-basedcoatings find applications in industrial and protective coatings. Thesecoatings are used for a wide range of applications, from machinery andequipment to storage tanks and pipelines. The protective properties of maleicanhydride-based coatings make them indispensable in safeguarding industrialassets and infrastructure from environmental factors and corrosion. As variousindustrial sectors in India expand and upgrade their facilities, the demand forhigh-performance coatings remains strong.
Maleic anhydride contributes to the production of adhesive and sealantformulations used in the manufacturing and construction sectors. Theseadhesives and sealants play a crucial role in bonding materials, preventingleaks, and providing structural integrity. Maleic anhydride-based adhesive andsealant formulations are valued for their ability to adhere to varioussubstrates and provide durable and long-lasting bonds.
The rising demand for maleic anhydride-based paints and coatings, primarily from the construction and automotive sectors, is a significant driving force behind the growth of the maleic anhydride market in India. Maleicanhydride's pivotal role in the formulation of coatings and adhesives positions it as a fundamental component in various industries, promoting innovation, sustainability, and economic growth. As India continues to advance and diversify its industrial landscape, the demand for maleic anhydride is expected to remain strong, contributing to the country's position as a key player in the global market and the facilitation of high-quality and durable coatings across multiple sectors.
Growing Demand as Agrochemicalsand Chemical Intermediates is Propelling the India Maleic Anhydride MarketGrowth
TheIndian maleic anhydride market is experiencing significant growth, primarilydriven by the increasing demand for maleic anhydride in the production ofagrochemicals and chemical intermediates. Maleic anhydride, a versatile chemical compound, plays a pivotal role in the synthesis of various agrochemicals and serves as a key intermediate in the production of otherchemical compounds, contributing to the expansion of India's maleic anhydride market.
One of the key factors contributing to the surge in demand for maleic anhydride in India is its crucial role in the manufacturing of pesticides and herbicides. These agrochemicals are essential for crop protection, as they help farmers combat pests, diseases, and weeds, ultimately ensuring higher agricultural yields and food security. Maleic anhydride serves as a building block in the synthesis of active ingredients in these agrochemicals, contributing to their effectiveness and performance. As India grapples with the challenge of feeding its large and growing population, the need for agrochemicals and, by extension ,maleic anhydride, continues to rise.
Maleic anhydride is employed as a chemical intermediate in the production of various compounds used in the chemical industry. These chemical intermediates serve as precursors in the synthesis of a wide range of chemical products, including resins, plastics, and specialty chemicals. The versatility and flexibility of maleic anhydride in chemical synthesis make it a vital component for various industrial applications.
In the pharmaceutical industry, maleic anhydride is used to produce maleic acid esters. These esters are essential components in the synthesis of various pharmaceutical compounds, including active pharmaceutical ingredients (APIs).Maleic anhydride-derived compounds contribute to the development of pharmaceutical products that address a multitude of healthcare issues, including pain management, cardiovascular health, and infectious diseases. As the pharmaceutical industry in India continues to grow and innovate to meet domestic and international healthcare demands, the demand for maleic anhydride remains strong.
Maleic anhydride plays a role in the production of maleic anhydride grafted polyolefins (MA-g-PO). These materials are used as compatibilizers and modifiers in the plastics and polymer industry, enhancing the compatibility and performance of different polymer blends. As India's plastics and polymer industry expands, driven by various sectors such as packaging, automotive, and consumer goods, the demand for maleic anhydride for these applications is expected to increase.
The growth of India's agrochemical and chemical industries, which rely on maleic anhydride to produce key compounds and intermediates, is a significant driver behind the increasing demand for this versatile chemical. As India continues to invest in agricultural and chemical sectors and aims to strengthen its position in the global market, the demand for maleic anhydride remains strong, supporting innovation, sustainability, and economic growth. T
Key Market Challenges
Increasing Competition from Foreign Players
Increasing competition from foreign companies is a significant obstacle hindering the growth of the India Maleic Anhydride market. Maleic anhydride is a crucial chemical used in various industries, including chemicals, plastics, and resins. While the demand for maleic anhydride is steadily rising in India, the market faces challenges from international manufacturers who can offer competitive pricing, often due to lower production costs and well-established supply chains.
Fluctuating Prices of Raw Materials
Fluctuating prices of raw materials present a significant hindrance to the growth of the India Maleic Anhydride market. Maleic anhydride is a critical chemical compound used in various applications, including the production of resins, plastics, and coatings. Its production relies heavily on the availability and pricing of key raw materials, primarily butane and benzene.
Key Market Trends
Government Support for theChemical Industry
Governmentsupport for the chemical industry is a significant trend driving the growth ofthe India Maleic Anhydride market. Maleic anhydride, a crucial chemicalcompound used in various applications, including the production of resins,plastics, and coatings, is deeply entrenched in the chemical sector. The Indiangovernment has recognized the importance of this industry and is activelyintroducing policies, incentives, and investments to foster its growth anddevelopment.
Growing Demand for Bio-basedMaleic Anhydride
The growing demand for bio-based maleic anhydride is a key trend propelling the growth of the India Maleic Anhydride market. Maleic anhydride, a versatile chemical compound widely used in various industries, including plastics, resins, and coatings, is experiencing a transformation in its production methods. This trend is driven by the increasing emphasis on sustainability and environmental responsibility.
Bio-based maleic anhydride is produced from renewable sources, such as biomass, agricultural waste, or other organic feedstocks. This approach offers a more sustainable and environmentally friendly source of maleic anhydride, reducing the industry's reliance on fossil fuels and minimizing its carbon footprint.
This trend underscores the India Maleic Anhydride market's responsiveness to the evolving preferences of eco-conscious industries and consumers. It reflects the market's commitment to innovation and environmental responsibility, driving its growth while addressing sustainability and environmental concerns.
Segmental Insights
Raw Materials Insights
Based on the raw materials, the N-butane segment emerged as the dominant segment in the Indian market for Maleic Anhydride in 2024.
Maleic Anhydride is a versatile chemical compound used in various industries, including the production of resins, plastics, and agricultural chemicals. The growing demand for these products has significantly driven the demand for Maleic Anhydride, reinforcing the prominence of the N-butane segment.
Regional Insights
Based on the region, the dominance of the Western region in the Indian Maleic Anhydride market is a result of its industrial diversity, well-established infrastructure, and strategic advantages. This dominance is expected to persist as the region continues to thrive in various chemical manufacturing sectors and as the demand for high-quality chemicals remains on the rise, particularly in the production of resins, plastics, and agricultural chemicals.
The Western region's strategic location and access to major ports make it a hub for the import and distribution of chemicals like Maleic Anhydride, serving industries not only within the region but also across the country.
Key Market Players
- Meru Chem Pvt. Ltd.
- Central Drug House (P) Ltd.
- Mitansh Chemicals International Private Limited
- M.K. Industrial Corporation
- PonPure Chemicals Group
- ThirumalaiChemicals Ltd
- IG Petrochemicals Limited
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