Maleic Anhydride Market Size, Overview, Latest Trends and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Maleic Anhydride Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global maleic anhydride market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the maleic anhydride market?

What is Maleic Anhydride?

Maleic anhydride is an organic compound and is a colourless, crystalline solid that is derived from the oxidation of benzene or butane. Characteristics of maleic anhydride include its high reactivity, solubility in organic solvents, and its ability to undergo addition reactions with a variety of compounds. Maleic anhydride has a distinct acrid odour and is highly toxic and corrosive in nature. Key features of maleic anhydride include its role as a versatile intermediate in chemical synthesis, its ability to form copolymers and derivatives, and its importance as a raw material in the production of various products. It is commonly used as a precursor for the production of resins, plastics, and coatings. Maleic anhydride is also utilized as a cross-linking agent in the manufacturing of unsaturated polyester resins and for the synthesis of other compounds, such as maleic acid and fumaric acid. At present, maleic anhydride finds extensive applications in several industries, such as food and beverage (F&B), electronics, and pharmaceuticals.

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What are the growth prospects and trends in the maleic anhydride industry?

• The extensive utilization of maleic anhydride in various end use industries represents one of the key factors driving the market growth. In line with this, it is a key raw material in the production of unsaturated polyester resins, which find applications in industries, such as construction, automotive, and marine. The significant expansion in these industries is contributing to the market growth.

• Maleic anhydride is used in the production of coatings, adhesives, and sealants for the construction sector. The expanding construction industry worldwide is fueling the market growth. Maleic anhydride is used as a monomer for the production of various polymers and plastics. The increasing demand for these materials in sectors, such as packaging, automotive, and electronics is driving the market growth of maleic anhydride. Maleic anhydride finds application in automotive coatings and adhesives.

• The growing automotive industry, driven by increasing vehicle production and demand, is contributing to the market growth of maleic anhydride. Maleic anhydride is used as a building block in the production of adhesives and sealants, which are extensively used in construction, packaging, and transportation industries. The expanding adhesives and sealants industry is boosting the market growth. Maleic anhydride is used in the production of water treatment chemicals, such as corrosion inhibitors and scale inhibitors. This, couples with the increasing need for clean and safe water is driving the market growth. Maleic anhydride is used in the production of agricultural chemicals, including herbicides and insecticides.

• Coupled with this, the steadily expanding global population base and the rising need to improve agricultural productivity is contributing to the market growth of maleic anhydride. Continuous advancements in manufacturing processes, such as improved catalysts and reaction conditions, is enhancing the production efficiency of maleic anhydride, thereby leading the market toward growth. Besides this, governmental regulations promoting the use of environmentally friendly materials and chemicals is driving the market growth. Other factors, such as the infrastructure development, particularly in the emerging economies, and extensive research and development (R&D) activities, are creating a positive outlook for the market across the globe.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Raw Material:

• n-butane
• Benzene

Breakup by Application:

• Unsaturated Polyester Resin (UPR) 
• 1-4, Butanediol (BDO)
• Additives
• Copolymers
• Others

Breakup by End Use Industry:

• Construction
• Automobile
• Food and Beverage
• Oil Products
• Electronics
• Personal Care
• Pharmaceuticals 
• Others

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Helm AG
• Huntsman Corporation
• INEOS Group Limited
• Lanxess AG
• Merck KGaA
• Mitsubishi Chemical Corporation
• MOL Group
• Nan Ya Plastics Corporation
• Ningbo Jiangning Chemical Co. Ltd.
• Nippon Shokubai Co. Ltd.
• Polynt S.p.A
• Thirumalai Chemicals Limited
• Tianjin Bohai Chemical Industry Group Supply and Sales Co. Ltd.
• Zibo Qixiang Tengda Chemical Co. Ltd

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