Maleic anhydride is an organic compound which is widely used as a precursor in various industrial applications across different industries. It finds applications in unsaturated polyester resins, copolymers, lubricant additives, and surfactants among others. Due to its versatile functional properties and growing industrial applications, the demand for maleic anhydride has witnessed an increase. The growth of end-use industries and rising consumption of products made from maleic anhydride in regions such as Asia Pacific are expected to drive the market growth during the forecast period. However, fluctuations in crude oil prices remain a key challenge.
Market Dynamics:
The global maleic anhydride market is witnessing a steady growth owing to factors such as growing construction industry, rising demand for unsaturated polyester resins from industries such as automotive and transportation as well as increasing penetration of copolymers made from maleic anhydride in various applications. However, volatility in crude oil prices which is a key raw material for the production of maleic anhydride, poses a challenge to market growth. Market players are exploring new production technologies to reduce dependency on crude oil. Asia Pacific remains the leading and the fastest growing regional market propelled by rapid industrialization, growing construction activities, and rising per capita income in countries such as China and India.
Key Features of the Study:
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