ID: MRFR/CnM/5247-HCR | February 2021 | Region: Global | 100 pages
Maleic anhydride plays a pivotal role in the manufacturing of coatings and polymers such as 1,4-butanediol (BDO) and unsaturated polyester resins (UPR). The global maleic anhydride market is expected to reach a valuation of USD 5.50 billion by 2023 from its previous market worth of USD 3.4 billion in 2017 at a 6.65% CAGR during the forecast period (2018-2023). Market Research Future’s (MRFR) report on the maleic anhydride market includes a detailed study of the segments and market drivers for a better understanding of the coming years.
The burgeoning coating and polymer industry is spurring the demand for 1,4 BDO and UPR. These two components are needed in large scale for the production and are consequently, driving the maleic anhydride market. At the same time, the maleic anhydride market is experiencing impacts of the burgeoning automotive sector. Automotive sector requires lubricant for smooth functioning, and it is not only during production but after as well. This shows the scope for maleic anhydride market to penetrate and operate for maximizing benefits.
However, government regulations are strict as the product has adverse side-effects. Furthermore, companies opting for green alternatives can pose a serious threat to the expected maleic anhydride market expansion during the forecast period. But bio-based maleic anhydride on the cusp of commercialization can be of significant importance for the market stability.
Segmentation: By raw material, the maleic anhydride market can be segmented into n-Butane and benzene, of which n-Butane can be attributed with the maximum market share as of 2017.
Application-wise, the maleic anhydride market can be segmented into unsaturated polyester resin (UPR), copolymers, lubricant additives, alkenyl succinic anhydrides, malic acid, fumaric acid, and others. UPR segment, as of 2017, is dominating the market, whereas copolymers are expected to record the fastest growth rate during the forecast period.
Based on end-users, the maleic anhydride market comprises construction, automotive, food & beverages, textile, pharmaceuticals, personal care, agriculture, and others. The construction sector is way ahead of its peers in terms of revenue-generated in 2017.
Regional Analysis: Asia Pacific (APAC) has the largest market share as per the report published in 2017. The regional market largely banks on the speeding growth of the automotive industry and construction sector that is rapidly cementing its market foothold. India, China, and Indonesia are going to gain the most from such a handshake between industries. With the prediction of the regional market’s scope to achieve the maximum CAGR, the warmth of this partnership shared among industries can be felt quite easily. Furthermore, the lubricant market is also showing positive signs of growth in emerging economies such as Thailand.
Europe’s market boom can also be traced back to its contribution in automotive and construction sectors. However, the construction sector is having some setbacks which are bound to pull back the maleic anhydride market growth. Government regulations are quite strict when it comes to bio-sustainability. Hence, the maleic anhydride market can experience a sluggish pace.
Many North American companies are shifting their bases to Brazil and Argentina which can provide a tailwind to the Latin American market. However, the North American market is only about to make an average growth as downstream industries are not growing that much.
Key Competitors: Prominent maleic anhydride market influencers are 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), and others.
Research Methodology: The report has its roots firmly set in meticulous strategies provided by the white-glove data analysts of Market Research Future (MRFR). These strategies involve gathering of information by expert analysts only to have them analyzed and filtered minutely in an endeavor to provide relevant predictions about the market in the coming years. It further incorporates interviews with chief market influencers which makes the primary research pertinent and effective. The secondary method gives a clear peek into the demand and supply relationship. The method has at its core precise data analysis; the emphasis is on top-down and bottom-up approaches which gives a commendable tour of the entire industry. In addition, tenable sources such as annual reports, SEC filings, and white papers have been used by MRFR data analysts for a profound cognizance of the apropos product in a bid to discuss the market factors. The enterprise reflects an intent to render an all-inclusive view of the concerned sector by having it judged against immaculate parameters. The valuable inputs enrich the report and provide an edge over the peers.
Global Maleic Anhydride Market Segmented by Raw Material
Global Maleic Anhydride Market Segmented by Application
Global Maleic Anhydride Market Segmented by End-users
Global Maleic Anhydride Market Segmented by Region
Frequently Asked Questions (FAQ) :
The global maleic anhydride market is set to grow commendably while achieving revenues worth USD 5.50 BN by 2023.
The valuation of the global maleic anhydride market had reached USD 3.4 BN in 2017, which is expected to further appreciate at 6.65% CAGR during the assessment period (2018-2023).
Augmenting demand from the automotive sector for lubricants.
Asia Pacific holds the largest share in the global maleic anhydride market followed by Europe and North America, respectively.
Bartek Ingredients Inc. (Canada), Ashland Inc. (US), Bluestar Harbin Petrochemical Corp. (China), Lanxess (Germany), Huntsman Corporation (US), Marathon Petroleum Corp. (US), Mitsubishi Chemical Corporation (Japan), Fuso Chemical Co. (Japan), Nan Ya Plastics Co.(China), Helm AG (Germany), Changzhou Yabang Chemical Co. Ltd (China), Polynt Group (Italy), Nippon Shokubai Co. Ltd (Japan), Ningbo Jiangning Chemical (China), and Thirumalai Chemicals Ltd (India), are some of the major players operating in the global maleic anhydride market.