Global Maleic Anhydride Market Size By Application, By End-Use Industry, By Market Dynamics, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Maleic Anhydride Market Size By Application, By End-Use Industry, By Market Dynamics, By Geographic Scope And Forecast
Maleic Anhydride Market Size And Forecast
Maleic Anhydride Market size was valued at USD 2.34 Billion in 2024 and is projected to reach USD 3.93 Billion by 2031, growing at a CAGR of 6.68% during the forecast period 2024-2031.
Global Maleic Anhydride Market Drivers
The market drivers for the Maleic Anhydride Market can be influenced by various factors. These may include
Demand in a Range of IndustriesMaleic anhydride is a flexible chemical intermediate that is utilized in the manufacturing of goods for the consumer goods, automotive, building, and agricultural industries, among others. Maleic anhydride demand is influenced by the general expansion and demand in these industries.
Growth of the Polymer IndustryUnsaturated polyester resins, which are widely utilized in the production of fiberglass reinforced plastics (FRP), are made possible in large part by the creation of maleic anhydride. Maleic anhydride is anticipated to become more in demand due to the expanding need for strong, lightweight materials in sectors including construction, aerospace, and automotive.
Maleic anhydride’s Adoption in Chemical SynthesisMaleic anhydride is also utilized in the synthesis of fumaric acid, maleic acid, and other specialized compounds. Maleic anhydride’s market is further propelled by the rising uses and demand for these substances.
Asia-Pacific Market GrowthAs a result of the region’s fast industrialization and urbanization, particularly in China and India, there is a greater need for maleic anhydride across a range of end-use sectors. Additionally, positive government policies and investments in the development of infrastructure are anticipated to increase the region’s consumption of maleic anhydride.
Product advancements and InnovationsA variety of application needs are met by ongoing product advancements and innovations in maleic anhydride-based products, such as copolymers and grafted polymers, which propel market expansion.
Sustainability and Environmental RegulationsApplications such as adhesives, coatings, and water treatment that are friendly to the environment are using a growing amount of maleic anhydride and its derivatives. The market for maleic anhydride is positively impacted by the growing demand for eco-friendly alternatives due to stronger environmental restrictions and increased awareness of sustainability.
Global Maleic Anhydride Market Restraints
Several factors can act as restraints or challenges for the Maleic Anhydride Market. These may include
Price VolatilityThe cost of raw materials, the price of energy, and market demand are some of the variables that affect the price of maleic anhydride. Planning and budgeting may be difficult for producers and customers as a result of this instability.
Dependency on FeedstockThe synthesis of maleic anhydride is highly dependent on feedstocks such n-butane, benzene, and butane. Maleic anhydride production and price are immediately impacted by any changes or disruptions in the availability or cost of these feedstocks.
Environmental RegulationsThe synthesis of maleic anhydride frequently involves high temperatures and chemical reactions that could result in waste products or emissions. Adherence to strict environmental rules may require investments in pollution control systems and increase operational costs.
Competitive AlternativesThere are other items on the market that have comparable uses to maleic anhydride in a range of applications. The market for maleic anhydride may face competition from goods that provide benefits like reduced costs, improved performance, or simpler handling.
End-Use Market DynamicsThe chemical, plastics, and resin industries are among the end-use markets that have a strong influence on the demand for maleic anhydride. The demand for maleic anhydride may be immediately impacted by any delay or changes in these industries.
Technological DifficultiesIn order to increase productivity, cut costs, and lessen environmental effect, maleic anhydride production processes need advanced technology and ongoing innovation. For producers, keeping up with technology developments can be difficult and expensive.
Global Maleic Anhydride Market Segmentation Analysis
The Global Maleic Anhydride Market is Segmented on the basis of Application, End-Use Industry, Market Dynamics, and Geography.
By Application
Unsaturated Polyester Resins (UPR)Maleic anhydride is a necessary component in the synthesis of unsaturated polyester resins (UPRs), which are used in the manufacture of fiberglass reinforced plastics (FRP), automotive components, marine coatings, and building supplies.
Synthesis of 1,4-Butanediol (BDO)Maleic anhydride is the raw material required to make 1,4-butanediol, a versatile chemical intermediate that is utilized in the synthesis of fibers, plastics, and other compounds.
Alkyd ResinsPaints, coatings, adhesives, and varnishes are made with alkyd resins, which are made from maleic anhydride.
SurfactantsIt’s used to make surfactants, which are utilized in personal care, home cleaning, and industrial cleaning, among other industries.
Additional usesThese include paper sizing agents, lubricant additives, agricultural compounds, and medicinal intermediates.
By End-Use Industry
ConstructionFiberglass reinforced polymers (FRP) and coatings are two products that use maleic anhydride.
AutomotiveIt is used in adhesives, coatings, and parts for automobiles.
Paints & CoatingsAlkyd resins, which are extensively used in paints, coatings, varnishes, and adhesives, are made from maleic anhydride.
Polymers and PlasticsIt is utilized in the synthesis of a number of polymers and plastics, such as 1,4-butanediol and unsaturated polyester resins.
Chemical IntermediatesA variety of chemical intermediates utilized in a wide range of industries are produced using maleic anhydride as a precursor.
By Market Dynamics
Price segmentationSet yourself apart from the competition by offering premium, mid-range, and economy products at different price points.
Technology SegmentationDivide the market into segments according to the adoption of different technologies, such as advanced production procedures vs conventional manufacturing methods.
Regulatory SegmentationExamine the market according to adherence to sustainability and environmental norms.
By Geography
North America Market conditions and demand in the United States, Canada, and Mexico.
Europe Analysis of the Maleic Anhydride Market in European countries.
Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
Middle East and Africa Examining market dynamics in the Middle East and African regions.
Latin America Covering market trends and developments in countries across Latin America.
 Key Players
The major players in the Maleic Anhydride Market are
Huntsman Corporation
Changzhou Yabang Chemical Co., Ltd.
Shanxi Qiaoyou Chemical Co., Ltd.
Polynt-Reichhold Group
Zibo Qixiang Tengda Chemical Co., Ltd.
Mitsubishi Chemical Corporation
Nippon Shokubai Co., Ltd.
LANXESS AG
Gulf Advanced Chemical Industries Co., Ltd.
Ningbo Jiangning Chemical Co., Ltd.
Report Scope
REPORT ATTRIBUTES
DETAILS
Study Period
2021-2031
Base Year
2024
Forecast Period
2024-2031
Historical Period
2021-2023
Unit
Value (USD Billion)
Key Companies Profiled
Huntsman Corporation, Changzhou Yabang Chemical Co., Ltd., Shanxi Qiaoyou Chemical Co., Ltd., Polynt-Reichhold Group, Zibo Qixiang Tengda Chemical Co., Ltd., Mitsubishi Chemical Corporation, Nippon Shokubai Co., Ltd., LANXESS AG, Gulf Advanced Chemical Industries Co., Ltd., Ningbo Jiangning Chemical Co., Ltd.
Segments Covered
Application, End-Use Industry, Market Dynamics, And Geography
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