The new report by Expert Market Research titled, ‘Global Maleic Anhydride Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global maleic anhydride market, assessing the market based on its segments like product types, end user industries, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5%
Maleic anhydride is a crucial ingredient in the production of fumaric acid. Hence, the increasing demand for fumaric acid in the food and beverage industry for the production of a variety of food items such as wheat and corn tortilla, rye bread, and fruit juice, among others, is anticipated to propel the market growth in the forecast period. The rising demand for maleic anhydride for the production of unsaturated polyester resin, which has a high demand in the building and construction industry is further bolstering the market in the forecast period. Geographically, the Asia Pacific region accounts for a significant share in the market owing to the strong foothold of major manufacturers in the region.
Industry Definition and Major Segments
Maleic anhydride is defined as an unsaturated compound, which is cyclic dicarboxylic in nature. The compound is obtained by removing all the water molecules from its structure. Maleic anhydride is a highly reactive chemical intermediate with a flash point of 218°F and is widely applied in the field of industrial chemistry. The main use of this compound is in the production of polyester resins, pesticides, and fumaric and tartaric acids.
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On the basis of product type, the market can be segmented into:
• Unsaturated Polyester Resin
• BDO (Butanediol)
• Lubricant Additives
• Maleic Anhydride Copolymers
• Malic Acid
• Furmaric Acid
• Alkyl Succinic Anhydrides
• Surfactants and Plasticisers
Based on end user industry, the market can be classified into:
• Food and Beverage
• Oil Products
• Personal Care
The regional markets for maleic anhydride include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends in the maleic anhydride market include the thriving construction sector in the emerging economies owing to the rapid urbanisation, increasing standards of living and rising population. In addition to this, the increasing demand for chemical intermediates in the agriculture industry for the manufacturing of high-quality protection chemicals is anticipated to be another major trend in the market. The technological advancements and growing R&D activities in the automotive, electronics, and pharmaceutical industry are anticipated to offer lucrative opportunities to the market in the forecast period. Hence, these trends are likely to catapult the demand for maleic anhydride in the coming years.
Key Market Players
The major players in the market are Huntsman International LLC, Shandong Hongxin Chemical Co. Ltd, Helm AG, Mitsubishi Chemical Corporation, and Ningbo Jiangning Chemical Co. Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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