Maleic Anhydride Market Is Anticipated To Be The Highest Revenue-Generating Segment, At A CAGR Of Over 6.68%
Research Reports
Dec 19, 2022
The global maleic anhydride market is expected to reach a valuation of USD 3.4 billion by 2030 from its previous market worth of USD 2.8 billion in 2019 at a 6.68% CAGR during the forecast period (2021-2030).
The chemical compound maleic anhydride has the formula C2H2(CO)2O. Maleic acid anhydride is what it is. It is a white or colourless material with an unpleasant smell. It is produced in large quantities for usage in polymers and coatings. In addition to coatings, pharmaceuticals, agricultural goods, surfactants, and as a plastics ingredient, it is used to create unsaturated polyester resin. A highly reactive chemical intermediate called maleic anhydride finds use in practically all areas of industrial chemistry.
Regional Analysis:
According to a 2017 research, Asia Pacific (APAC) has the biggest market share. The area economy is heavily dependent on the building and automobile sectors’ increasing market consolidation and accelerated expansion. The countries that stand to earn the most from this industrial handshake are India, China, and Indonesia. The potential for the regional market to attain the highest CAGR makes it easy to feel the warmth of this collaboration shared among industries. Additionally, emerging markets like Thailand are exhibiting encouraging signals of development in the lubricant industry.
The growth of the European market can also be attributed to its involvement in the building and automobile industries. The building industry is now experiencing certain obstacles, which will inevitably slow the market’s expansion for maleic anhydride. Government rules on bio-sustainability are very rigorous. As a result, the market for maleic anhydride may move slowly.
The fact that many North American businesses are relocating to Brazil and Argentina may help the Latin American market. However, because the downstream industries are only increasing moderately, the North American market will only see medium growth going forward.
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Report Attribute/Metric |
Details |
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Market Size |
2030: USD 3.4 billion |
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CAGR |
2030: 6.68% CAGR |
|
Base Year |
2021 |
|
Forecast Period |
2021 to 2030 |
|
Historical Data |
2019 & 2020 |
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Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Raw Material, Application, End-Use Industries |
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Geographies Covered |
North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
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Key Vendors |
Ashland Inc. (US), Bartek Ingredients Inc. (Canada), Bluestar Harbin Petrochemical Corp. (China), Huntsman Corporation (US), Lanxess (Germany), Marathon Petroleum Corp. (US), Fuso Chemical Co. (Japan), Mitsubishi Chemical Corporation (Japan), Nan Ya Plastics Co.(China), Changzhou Yabang Chemical Co. Ltd (China), Helm AG (Germany), Polynt Group (Italy), Ningbo Jiangning Chemical (China), Nippon Shokubai Co. Ltd (Japan), Thirumalai Chemicals Ltd (India) |
Market segmentation:
In terms of raw materials, the maleic anhydride market may be divided into benzene and n-butane, with n-butane having the largest market share as of 2017.
Maleic anhydride can be used in a variety of products, including alkenyl succinic anhydrides, malic acid, fumaric acid, unsaturated polyester resin (UPR), copolymers, lubricant additives, and others. As of 2017, the UPR category dominates the market, but copolymers are predicted to increase at the highest rate over the projection period.
Construction, automotive, food & beverage, textile, pharmaceuticals, personal care, agricultural, and others are some of the end-users in the maleic anhydride industry. When it comes to revenue production in 2017, the construction industry is well ahead of its competitors.
Key Players:
Ashland Inc. from the United States of America, Bartek Ingredients Inc. from Canada, Bluestar Harbin Petrochemical Corp. from China, Huntsman Corporation from the United States of America, Lanxess from Germany, Marathon Petroleum Corp. from the United States of America, Fuso Chemical Co. from Japan, Mitsubishi Chemical Corporation from Japan, Nan Ya Plastics Co. from China, and Changzhou Yabang Chemical Co. from China. Ningbo Jiangning Chemical (China), Nippon Shokubai Co., Ltd. (Germany), Helm AG (Germany), Polynt Group (Italy), and Ningbo Jiangning Chemical (China). , Thirumalai Chemicals Ltd., Ltd. (Japan) (India)
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