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Maleic Anhydride Market

Maleic Anhydride Market

Maleic Anhydride Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

144

Base Year:

2021

Date

Aug - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1780

Segments Covered
  • By Raw Material N-Butane, Benzene
  • By Application UPR, 1,4-BDO, Lubricating Oil Additives, Copolymers, Other Applications
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 2.5 Billion
Revenue 2028Revenue 2028: USD 3.1 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 3.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Maleic Anhydride Market Share

Market Synopsis:

The Global Maleic Anhydride Market was valued USD 2.5 Billion in 2021 and is anticipated to reach a value of USD 3.1 Billion by 2028. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 3.9% over the forecast period.

Maleic Anhydride is a white, colorless organic chemical generated when benzene or butane is oxidized in the presence of a vanadium oxide catalyst. It is widely utilized in the manufacture of unsaturated polyester resins (UPR). UPR is also used to make fiberglass reinforced polymers. It is used as a food preservative, flavor enhancer, and artificial sweetener after being converted to maleic or fumaric acid. It also has a minor role in pharmaceutics, agricultural products, and surfactants. Growing car accidents around the world are driving up demand for unsaturated polyester resin, which may be used to fix dents.

Maleic Anhydride Market Size, 2021 To 2028 (USD Billion)

The rise in the automotive sector in developing and advanced countries, as well as the rise in the construction and wind energy industries, are projected to drive the expansion of the Maleic Anhydride Market. The increase in demand for hybrid vehicles, expanding battery price parity, and escalating governmental restrictions are expected to stifle the growth of the Maleic Anhydride Market over the forecast period. The rising demand for UPR and 1, 4- BDO, as well as the expansion of end-use industries in developing nations, are expected to drive the growth of the Maleic Anhydride Market. The commercialization of bio-based Maleic Anhydride, as well as changes in income streams due to megatrends in end-use sectors, will create further opportunities for the Maleic Anhydride Market to grow in the near future.

Market Segmentation:

The Maleic Anhydride Market is segmented on the basis of Raw Material, Application, and Region. The market is further segmented into n-Butane and Benzene based on the segment Raw Material. Furthermore, the market is further segmented into UPR, 1- 4- BDO, Lubricating Oil Additives, Copolymers, and Other Applications on the basis of the Application segment.

Below tree is interactive. You can click the nodes to get more information.

Based on Raw Material

On the basis of raw material, the market is segmented as n-butane and Benzene. The n-butane segment dominates the Maleic Anhydride Market. The low-cost process with increased productivity, the minimal risk involved, and the less complex production process are the drivers driving the n-Butane- based Maleic Anhydride Market. It is also less damaging to the environment, making it preferable to benzene. The building and transportation industries are likely to stimulate demand for n-Butane- based Maleic Anhydride.

Based on Application

The UPR segment holds the largest share in the Maleic Anhydride Market. Maleic Anhydride is the basic ingredient used in the production of unsaturated polyester resins. These resins are mixed with various fillers and reinforcements before being cured using free radical initiators to produce thermoset objects with a wide range of chemical and mechanical qualities depending on the substance and other additives used. The major market for the reinforced polyester resin is construction and sanitary ware (composite materials). When cross-linked with a vinyl reactive monomer, most often styrene, UPR forms exceptionally durable structures and coatings. The rising demand for pipelines and tanks for chemical storage is a major driver driving up demand for UPR, fuelling the Maleic Anhydride Market in this segment.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. This expansion is ascribed to expanding domestic industries, rising end-use demand, and increased use of Maleic Anhydride in various applications such as agricultural chemicals and pharmaceuticals. One of the key factors driving Maleic Anhydride uses in the region is the growing building industry. The region's construction and plasticizer industries are likely to drive the majority of demand. Increasing construction spending in China, India, and Indonesia is likely to enhance product demand in the Asia Pacific (APAC) region further. The Indian and Chinese governments' favorable government measures are likely to promote the region's growth.

Competitive Landscape:

The key players in the Global Maleic Anhydride Market include- Huntsman Corporation (US), Changzhou Yabang Chemical Co. Ltd. (China), Shanxi Qiaoyou Chemical Co. Ltd. (China), Polynt-Reichhold Group (Italy), Zibo Qixiang Tengda Chemical Co. Ltd. (China), Mitsubishi Chemical Corporation (Japan), Nippon Shokubai Co. Ltd.(Japan), LANXESS AG( Germany), Gulf Advanced Chemical Industries Co. Ltd. (Saudi Arabia), Ningbo Jiangning Chemical Co. Ltd. (China), China Bluestar Harbin Petrochemical Co. Ltd.(China), Nan Ya Plastics (Taiwan), Shijiazhuang Bailong chemical Co. Ltd. (China), Yongsan Chemical Co. Ltd. (South Korea), IG Petrochemicals Ltd. (India), MOL PLC (Hungary), PT Justus Sakti Raya (Indonesia), Global Ispat Koksna Industrija D.O.O. Lukavac (Bosnia & Herzegovina), Tianjin Bohai Chemical Industry Group Co. Ltd. (China), Cepsa (Spain), Ruse Chemicals (Bulgaria), Yunnan Yunwei Company Limited (China), Shanxi Taiming Chemical Industry Co. Ltd.( China), Huanghua Hongcheng Business Corp. Ltd. (China), Aekyung Petrochemical Co. Ltd. (South Korea) and others.

Segmentation of the Global Maleic Anhydride Market:

Parameter Details
Segments Covered
  • Raw Material (N-Butane, Benzene)
  • Application (UPR, 1,4-BDO, Lubricating Oil Additives, Copolymers, Other Applications)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Huntsman Corporation (US)
  • Changzhou Yabang Chemical Co. Ltd. (China)
  • Shanxi Qiaoyou Chemical Co. Ltd. (China)
  • Polynt-Reichhold Group (Italy)
  • Zibo Qixiang Tengda Chemical Co. Ltd. (China)
  • Mitsubishi Chemical Corporation (Japan)
  • Nippon Shokubai Co. Ltd.(Japan)
  • LANXESS AG( Germany)
  • Gulf Advanced Chemical Industries Co. Ltd. (Saudi Arabia)
  • Ningbo Jiangning Chemical Co. Ltd. (China)
  • China Bluestar Harbin Petrochemical Co. Ltd.(China)
  • Nan Ya Plastics (Taiwan)
  • Shijiazhuang Bailong chemical Co. Ltd. (China)
  • Yongsan Chemical Co. Ltd. (South Korea)
  • IG Petrochemicals Ltd. (India)
  • MOL PLC (Hungary)
  • PT Justus Sakti Raya (Indonesia)
  • Global Ispat Koksna Industrija D.O.O. Lukavac (Bosnia & Herzegovina)
  • Tianjin Bohai Chemical Industry Group Co. Ltd. (China)
  • Cepsa (Spain)
  • Ruse Chemicals (Bulgaria)
  • Yunnan Yunwei Company Limited (China)
  • Shanxi Taiming Chemical Industry Co. Ltd.( China)
  • Huanghua Hongcheng Business Corp. Ltd. (China)
  • Aekyung Petrochemical Co. Ltd. (South Korea)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Maleic Anhydride Market to Reach Valuation of USD 3.1 Billion by 2028 – Rising Penetration of Composite Materials in the Aerospace, Construction, and Automotive Industries Drives the Market
In terms of revenue, the Global Maleic Anhydride Market is expected to reach USD 3.1 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.9% from 2022 to 2028. Maleic Anhydride is used in several industrial chemicals, including lubricating oil additives, fumaric acid, UPRs, malic ...
FAQ
Frequently Asked Question
  • The global Maleic Anhydride valued at USD 2.5 Billion in 2020 and is expected to reach USD 3.1 Billion in 2028 growing at a CAGR of 3.9%.

  • The prominent players in the market are Huntsman Corporation (US), Changzhou Yabang Chemical Co. Ltd. (China), Shanxi Qiaoyou Chemical Co. Ltd. (China), Polynt-Reichhold Group (Italy), Zibo Qixiang Tengda Chemical Co. Ltd. (China), Mitsubishi Chemical Corporation (Japan), Nippon Shokubai Co. Ltd.(Japan), LANXESS AG( Germany), Gulf Advanced Chemical Industries Co. Ltd. (Saudi Arabia), Ningbo Jiangning Chemical Co. Ltd. (China), China Bluestar Harbin Petrochemical Co. Ltd.(China), Nan Ya Plastics (Taiwan), Shijiazhuang Bailong chemical Co. Ltd. (China), Yongsan Chemical Co. Ltd. (South Korea), IG Petrochemicals Ltd. (India), MOL PLC (Hungary), PT Justus Sakti Raya (Indonesia), Global Ispat Koksna Industrija D.O.O. Lukavac (Bosnia & Herzegovina), Tianjin Bohai Chemical Industry Group Co. Ltd. (China), Cepsa (Spain), Ruse Chemicals (Bulgaria), Yunnan Yunwei Company Limited (China), Shanxi Taiming Chemical Industry Co. Ltd.( China), Huanghua Hongcheng Business Corp. Ltd. (China), Aekyung Petrochemical Co. Ltd. (South Korea).

  • The market is project to grow at a CAGR of 3.9% between 2021 and 2028.

  • The driving factors of the Maleic Anhydride include

    • Increasing demand for UPR and lubricant additives in the automotive industry

  • Asia Pacific was the leading regional segment of the Maleic Anhydride in 2020.