The global Maleic Anhydride market is expected to grow at CAGR 6.9% during the forecast period, 2019-2026
Maleic Anhydride is colorless and white solid which is manufacturer at large scale for coatings and polymeric applications. It is produced by vapor phase oxidation of butane and oxidation benzene. This is the main reason why n-butane and benzene is the two prominent raw material used in the production of Maleic Anhydride. It is a versatile chemical intermediate used the preparation of range of chemicals. Maleic anhydride is an acid anhydride of maleic acid colorless organic compounds in the large number of industrial chemicals. Some of the known applications of the Maleic Anhydride include construction, automotive, food & beverages, textile, pharmaceuticals, personal care, agriculture, and others
The global Maleic Anhydride market is gradually moving towards its saturation phase in its industry life cycle. Some of the factors contributing in the overall growth of this global Maleic Anhydride market include rising production of some of the industrial chemicals such as malic or maleic acid, UPRs, lubricating oil additives, alkenyl succinic anhydrides, and fumaric acid. This is due large demand of these chemical to cater demand for end products in various industries. Moreover, Maleic Anhydride is an excellent cross linking gent and conjuction agent which made him highly favorable in polymer applications.
The growth of this market is highly driven by expanding coating and polymer industries due to high demand for BDO and UPR (unsaturated polyester resin). Maleic Anhydride is used in the production of lubricant for smooth functioning automotive parts. Hence, flourishing automotive sector is further driving the demand for Maleic Anhydride. Lubricants are not only used in the automotive production but during the life cycle of vehicle which expected to drive overall market growth during the forecast period. Rising demand for unsaturated polyester resin in the construction activities due to its application specific nature.
However, driven by these factors the growth of this market restrained by the strict enviromental regulations pertinent environments. Maeleic anhydride products has adverse effects on the environment and rising awareness among consumers can led to its lower adoption by restraining the overall market growth. Nevertheless, technological advancement expected to come up with new product formulation and offer new growth opportunities to this market during the forecast period.
The market research study on “Maleic Anhydride Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Maleic Anhydride market. The report also analyzes the key players operating in Maleic Anhydride market and identifies the key strategies deployed by them along with the market share of leading players.
The global Maleic Anhydride market is segmented as below:
Maleic Anhydride Market By Raw Material
Maleic Anhydride Market By Application
Maleic Anhydride Market By End Use Industries
Maleic Anhydride Market By Geography
The global Maleic Anhydride market is segmented By Raw Material, Application, End use industries, and region.
On the basis of raw material, the market is segmented into n-butane and benzene.N-butane accounted for significant market share over benzene due to its environmentally free nature low production cost associated with it. Benzene exhibits relatively higher toxicity as compared with butane and also has higher production cost. Therefore, n-butane segment as a raw material is expected to further dominate the global Maleic Anhydride market during the forecast period.
Market segmentation based on application includes unsaturated polyester resin, copolymers, lubricant additives, alkenyl succinic anhydrides, malic acid, fumaric acid, and others. Unsaturated polyester resin accounted for the largest market share due in 2017 and the similar segment expected to be the largest one during the forecast period. This is due to the high demand for unsaturated polyester resin in various industries such as electrical, automotive, marine, and construction. These resins are environmentally free in nature, has cot low cost as compared to other and know for greater effectiveness and performance. Considering this, unsaturated polyester resin segment expected to further dominated the Maleic Anhydride market during the forecast period.
On the basis of By end use industries, the global Maleic Anhydride market is segmented into construction, automotive, food & beverages, textile, pharmaceuticals, personal care, agriculture, and others. Construction industry emerged as a global leader in the market over other segment. This is due o high demand of UPR resin in the construction activities, rising infrastructural development projects and expanding residential sector in the construction industry due to growing population.
Geographically, Maleic Anhydride market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
Asia Pacific is the largest regional market among other in this market. The region is the largest manufacturer as well as consumers due to presence of wide consumer base as well as well established prominent end sue industries. Chain and India are some of the promising country level market in this region due to growing automotive and construction industry growing technology momentum and economic reform. Asia Pacific is further expected continue its dominance during the forecast period.
Ashland Inc., Bartek Ingredients Inc., Bluestar Harbin Petrochemical Corp., Huntsman Corporation, Lanxess AG, Marathon Petroleum Corp., Fuso Chemical Co., Mitsubishi Chemical Corporation, Nan Ya Plastics Co., Changzhou Yabang Chemical Co. Ltd, Helm AG, Polynt Group, Ningbo Jiangning Chemical, Nippon Shokubai Co. Ltd, Thirumalai Chemicals Ltd, and others.
Maleic Anhydride is colorless and white solid which is manufacturer at large scale for coatings and polymeric applications.
Some of the key players involved in the manufacture and supply of maleic anhydride include Polynt SpA, Huntsman Corporation, Lanxess AG, Flint Hills Resources, DSM N.V., Sasol-Huntsman, and Ashland among others.
Raw Material, Application and Geography are the segments of maleic anhydride market?
Some of the factors contributing in the overall growth of this global Maleic Anhydride market include rising production of some of the industrial chemicals such as malic or maleic acid, UPRs, lubricating oil additives, alkenyl succinic anhydrides, and fumaric acid.
North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA) are the regions included in the maleic anhydride market.
N –butane and Benzene are the raw materials of maleic anhydride market.
Unsaturated Polyester Resin, Copolymers, Lubricant Additives, Alkenyl Succinic Anhydrides, Malic Acid, Fumaric Acid and Others are the application segments of maleic anhydride market.