Maleic Anhydride Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Maleic Anhydride Market Analysis
The global maleic anhydride market is projected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic in 2020 and the first half of 2021 affected various sectors, including maleic anhydride-producing industries. The maleic anhydride market showed negative growth as it was affected by disruptions in the global supply chain, the fluctuation of oil prices, and curtailed downstream demand. However, the market registered steady growth, owing to increased automotive and industrial activities in the second half of 2021.
- Over the short term, the rising global demand for unsaturated polyester resin and the growth of end-user industries in emerging nations are major factors driving the growth of the market studied.
- However, increasing government regulations regarding the handling and application of maleic anhydride are a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Still, the commercialization of bio-based maleic anhydride is likely to give the global market some good chances for growth in the near future.
- Asia-Pacific is estimated to witness healthy growth over the assessment period in the maleic anhydride market due to the wide usage of maleic anhydride in end-use application segments, such as automotive, construction, and other industries.
Maleic Anhydride Market Trends
This section covers the major market trends shaping the Maleic Anhydride Market according to our research experts:
The Unsaturated Polyester Resin Segment is Expected to Dominate the Market
- Maleic anhydride serves as the raw material used to produce unsaturated polyester resins. These resins are synthesized using maleic anhydride, along with phthalic anhydride, propylene glycol, and adipic acid.
- Unsaturated polyester resins (UPR) are used in the production of lighter, stronger fiberglass composites for boats, cars, construction, wind turbine blades, and a diverse range of consumer products. It is a key ingredient in making copolymers, which make it possible to use more sustainable raw materials, like wood fibers, to make plastic, stop corrosion, protect wires, and make sunscreens that don't absorb water.
- The expansion of the building and construction industry as a result of rising global population and lifestyle changes brought about by urbanization boosted the unsaturated polyester resin market significantly.Unsaturated polyester resin (UPR) is a major raw material for fiberglass composites, which are used for structural durability and decorative architectural features.
- The United States has one of the world's largest construction industries, according to the US Census Bureau, the value of public residential construction spending reached USD 9.06 billion in 2021. The value of commercial construction reached USD 91.03 billion in 2021 and registered growth when compared to USD 86.82 billion in 2020.
- Germany has the largest construction industry in Europe. As per the Statistisches Bundesamt survey, the number of building permits for residential and non-residential buildings in Germany reached 158 thousand in 2021 and registered growth compared to 153 thousand permits in 2020.
- All of these things are likely to increase the demand for maleic anhydride over the next few years.
China is Expected to Dominate the Market in Asia-Pacific
- In the Asia-Pacific region, China was the market leader for maleic anhydride because construction was growing and the demand for cars, electronics, and personal care products was going up.
- China is globally recognized for its architectural boom. The demand for low-cost housing and commercial housing is the reason for its growth in recent years. According to the International Trade Administration, the value of China's construction industry reached USD 1,117.42 billion in 2021, registering impressive growth when compared to USD 1,049.19 billion in 2020.
- The country plans to invest USD 1.43 trillion in major construction projects over the next five years, until 2025. According to the National Development and Reform Commission (NDRC), the Shanghai plan includes an investment of USD 38.7 billion in the next three years, whereas Guangzhou has signed 16 new infrastructure projects with an investment of USD 8.09 billion.
- China is the world's second-largest cosmetics market. The country's constant population growth fuels demand for cosmetics products.
- China is the largest manufacturer of automobiles globally. In 2021, the automotive production in the country reached 26.08 million vehicles, which increased by 3% compared to the 25.23 million vehicles produced in 2020.
- China is the largest base for electronics production in the world. Electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems, and other personal electronic devices, recorded the highest growth in the electronics segment. With the increase in the disposable income of the middle-class population and the rising demand for electronic products, countries are importing electronic products from China.
- Over the next few years, these things are likely to affect the demand for maleic anhydride in the country.
Maleic Anhydride Industry Overview
The market studied is fragmented with top players holding insignificant shares to affect market demand individually. The key players include Huntsman Corporation LLC, Polynt, LANXESS, HELM AG, and Mitsubishi Chemical Corporation, among others.
Maleic Anhydride Market Leaders
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Huntsman International LLC
-
HELM AG
-
Mitsubishi Chemical Corporation
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LANXESS
-
Polynt
*Disclaimer: Major Players sorted in no particular order
Maleic Anhydride Market News
- June 2022: Polynt announced its expansion project, to build a new esterification plant to produce plasticizers and mainly trimellitates at its site in Atlacomulco, Mexico, expanding its production capacity to meet the needs of the growing automotive and electrical industry.
- November 2021: IOC announced that it will invest Rs 3,681 crore (USD 446.20 million) in the construction of a mega-scale Maleic Anhydride facility with a capacity of 12,000 tons annually in order to produce specialty products including polyester resins and surface coatings, plasticizers, agrochemicals, and lubricant additives.
Maleic Anhydride Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Rising Global Demand for Unsaturated Polyester Resin
- 4.1.2 Growth of End-user Industries in Emerging Nations
-
4.2 Restraints
- 4.2.1 Increasing Government Regulations
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
-
5.1 Product Type
- 5.1.1 Unsaturated Polyester Resin
- 5.1.2 1,4-Butanediol
- 5.1.3 Lubricant Additives
- 5.1.4 Maleic Anhydride Copolymers
- 5.1.5 Malic Acid
- 5.1.6 Furmaric Acid
- 5.1.7 Alkyl Succinic Anhydrides
- 5.1.8 Surfactants and Plasticizers
- 5.1.9 Other Product Types
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5.2 End-user Industry
- 5.2.1 Construction
- 5.2.2 Automobile
- 5.2.3 Food and Beverage
- 5.2.4 Oil Products
- 5.2.5 Electronics
- 5.2.6 Personal Care
- 5.2.7 Pharmaceuticals
- 5.2.8 Agriculture
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 South Africa
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%) Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 HELM AG
- 6.4.2 Huntsman International LLC
- 6.4.3 INEOS
- 6.4.4 LANXESS
- 6.4.5 Mitsubishi Chemical Corporation
- 6.4.6 NAN YA PLASTICS CORPORATION
- 6.4.7 NINGBO JIANGNING CHEMICAL CO. LTD
- 6.4.8 NIPPON SHOKUBAI CO. LTD
- 6.4.9 Polynt
- 6.4.10 SHANDONG HONGXIN CHEMICAL CO. LTD
- 6.4.11 Thirumalai Chemicals Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Commercialization of Bio-based Maleic Anhydride
- 7.2 Other Opportunities
Maleic Anhydride Industry Segmentation
Maleic anhydride is a colorless or white solid, cyclic dicarboxylic anhydride with the chemical formula C2H2(CO)2O that can be produced from vapor-phase oxidation of n-butane. It is a highly reactive chemical intermediate, majorly used to produce unsaturated polyester resin and in the formulation of coatings, surfactants, plastic additives, pharmaceuticals, and others. The maleic anhydride market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into unsaturated polyester resin, 1,4-Butanediol (BDO), lubricant additives, maleic anhydride copolymers, malic acid, fumaric acid, alkyl succinic anhydrides, surfactants and plasticizers, and other product types. By end-user industry, the market is segmented into construction, automobile, food and beverage, oil products, electronics, personal care, pharmaceuticals, and agriculture. The report also offers the market size and forecasts for the maleic anhydride market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (in USD million).
| Product Type | Unsaturated Polyester Resin | |
| 1,4-Butanediol | ||
| Lubricant Additives | ||
| Maleic Anhydride Copolymers | ||
| Malic Acid | ||
| Furmaric Acid | ||
| Alkyl Succinic Anhydrides | ||
| Surfactants and Plasticizers | ||
| Other Product Types | ||
| End-user Industry | Construction | |
| Automobile | ||
| Food and Beverage | ||
| Oil Products | ||
| Electronics | ||
| Personal Care | ||
| Pharmaceuticals | ||
| Agriculture | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | South Africa |
| Saudi Arabia | ||
| Rest of Middle-East and Africa |
Maleic Anhydride Market Research FAQs
What is the current Maleic Anhydride Market size?
The Maleic Anhydride Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Maleic Anhydride Market?
Huntsman International LLC, HELM AG, Mitsubishi Chemical Corporation, LANXESS and Polynt are the major companies operating in the Maleic Anhydride Market.
Which is the fastest growing region in Maleic Anhydride Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Maleic Anhydride Market?
In 2024, the Asia Pacific accounts for the largest market share in Maleic Anhydride Market.
What years does this Maleic Anhydride Market cover?
The report covers the Maleic Anhydride Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Maleic Anhydride Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the factors driving the Maleic Anhydride Market?
The factors driving the Maleic Anhydride Market are a) Rising demand for unsaturated polyester resins (UPR) b) Increasing demand from the automotive and industrial sector c) Commercialization of bio-based maleic anhydride
Maleic Anhydride Industry Report
The global maleic anhydride market is witnessing significant growth, fueled by the rising demand for unsaturated polyester resins (UPR) and 1,4-butanediol (BDO) across diverse applications and regions. This surge is mainly due to UPR's extensive use in automotive, marine applications, construction products, and vehicle part repair and reconstruction. The U.S. leads in North America, with the agricultural, automotive, and construction industries driving maleic anhydride market growth. Asia Pacific holds the largest market share, spurred by developments in pharmaceuticals, construction, and personal care & cosmetics industries. Additionally, the application of additives in the automotive sector to enhance fuel efficiency and reduce emissions is boosting maleic anhydride demand. Europe is seeing growth opportunities in bio-based maleic anhydride and a shift towards n-butane as a raw material. The competitive landscape is marked by key players undertaking acquisitions and expansions to cater to the growing demand, showcasing a robust and dynamic market. Mordor Intelligenceā¢ Industry Reports provide insights into maleic anhydride market share, size, revenue growth rate, including a market forecast outlook and historical overview, available as a free report PDF download.
