Maleic Anhydride Market Research Report – Forecast to 2030

Maleic Anhydride Market Global Information - by Raw Material (N-Butane, Benzene), by Application (Unsaturated Polyester Resin, Copolymers, Lubricant Additives, Alkenyl Succinic Anhydrides, Malic Acid, Fumaric Acid, and Others) End-Use Industries (Construction, Automotive, Food & Beverages, Textile, Pharmaceuticals, Personal Care, Agriculture and Others) and Region - Forecast till 2030

ID: MRFR/CnM/5247-HCR | February 2023 | Region: Global | 100 Pages         

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Maleic Anhydride Market

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).

Segmentation
By Raw Material N-Butane Benzene
By Application Unsaturated Polyester Resin Copolymers Lubricant Additives Alkenyl Succinic Anhydrides Malic Acid Fumaric Acid Others
By End-Use Industries Construction Automotive Food & Beverages Textile Pharmaceuticals Personal Care Agriculture Others
Key Players
Companies Profiled   Ashland Inc. (US)   Bartek Ingredients Inc. (Canada)   Bluestar Harbin Petrochemical Corp.   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   Helm AG (Germany)   Polynt Group (Italy)   Ningbo Jiangning Chemical (China)   Nippon Shokubai Co. Ltd (Japan)   Thirumalai Chemicals Ltd (India)
Drivers
Market Driving Forces   Augmenting demand from the automotive sector for lubricants.
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Maleic Anhydride Market Overview


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). Maleic anhydride is a chemical molecule with the formula C2H2(CO)2O. It's the maleic acid anhydride. It's a colorless or white substance with an unpleasant odor. It is manufactured on a big scale for use in coatings and polymers. It's used to make unsaturated polyester resin, as well as coatings, pharmaceutics, agricultural products, surfactants, and as a plastics additive. Maleic anhydride is a highly reactive chemical intermediate that has applications in almost all fields of industrial chemistry.


With the booming coating and polymer industries, the global maleic anhydride market is predicted to grow extensively. At the same time, the growing automobile industry is affecting the maleic anhydride market. Lubricant is required not just during manufacture but also afterward in the automotive industry for smooth operation. This demonstrates the market's potential for penetration and profit maximization. Region-wise, Asia Pacific has the biggest market share due to rapid growth in the automotive and construction industries.


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. Recent Development


Bartek Ingredients (Stoney Creek, Ontario, Canada) has begun work on a vertically integrated malic and food-grade fumaric acid manufacturing facility. This will be the world's largest facility for the manufacturing of maleic and fumaric acids. This $160 million project, which is expected to be finished in Q4 2023, will double Bartek's capacity. It will also be able to manufacture extra volumes of malic and fumaric acid, as well as buffer and fortification salts.


The Indian Oil Corporation's Board of Directors has approved the construction of the country's first mega-scale Maleic Anhydride Plant at its Panipat Refinery and Petroleum Complex to produce value-added chemical goods (PRPC). Maleic Anhydride (MAH) is used to create specialty products such as polyester resins and surface coatings, plasticizers, agrochemicals, and lubricant additives, and the project is expected to have a capacity of 120 KTA (kilo tonnes per annum).


Global Maleic Anhydride Market Segmented by Raw Material



  • N-Butane

  • Benzene


Global Maleic Anhydride Market Segmented by Application



  • Unsaturated Polyester Resin (UPR)

  • Copolymers

  • Lubricant Additives

  • Alkenyl Succinic Anhydrides

  • Malic Acid

  • Fumaric Acid

  • Others


Global Maleic Anhydride Market Segmented by End-users



  • Construction

  • Automotive

  • Food & Beverages

  • Textile

  • Pharmaceuticals

  • Personal Care

  • Agriculture

  • Others


Global Maleic Anhydride Market Segmented by Region



  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 3.4 billion
  CAGR   2030: 6.68% CAGR
  Base Year   2021
  Forecast Period   2021 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Raw Material, Application, End-Use Industries
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  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)
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   Augmenting demand from the automotive sector for lubricants


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Frequently Asked Questions (FAQ) :

The global maleic anhydride market is set to grow commendably while achieving revenues worth USD 3.4 BN by 2030.

The valuation of the global maleic anhydride market reached USD 2.8 BN in 2019, which is expected to further appreciate at 6.68% CAGR during the assessment period (2021-2030).

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.

Asia Pacific holds the largest share in the global maleic anhydride market followed by Europe and North America, respectively.

Augmenting demand from the automotive sector for lubricants.