Maleic Anhydride

Maleic Anhydride

Global Maleic Anhydride Market to Reach US$7.3 Billion by 2030

The global market for Maleic Anhydride estimated at US$5.6 Billion in the year 2023, is expected to reach US$7.3 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2023-2030. Unsaturated Polyester Resin (UPR) Application, one of the segments analyzed in the report, is expected to record a 4.2% CAGR and reach US$4.3 Billion by the end of the analysis period. Growth in the 1,4-BDO Application segment is estimated at 3.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.5 Billion While China is Forecast to Grow at 6.4% CAGR

The Maleic Anhydride market in the U.S. is estimated at US$1.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 6.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.0% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.

Global Maleic Anhydride Market - Key Trends & Drivers Summarized

What Makes Maleic Anhydride a Critical Chemical in Various Industries?

Maleic anhydride is a highly reactive chemical intermediate essential in the production of a wide range of products. It is primarily used in the manufacture of unsaturated polyester resins (UPR), which are crucial in the automotive, construction, and marine industries. Maleic anhydride is also a key ingredient in the production of lubricating oil additives, agricultural chemicals, and copolymers. Its ability to undergo various chemical reactions makes it a versatile compound, ensuring its demand across diverse industrial applications. The extensive use of maleic anhydride in these sectors highlights its significance in global markets.

How Have Technological Innovations Enhanced Maleic Anhydride Production and Applications?

Technological advancements have significantly improved maleic anhydride production and its applications. Innovations in catalytic oxidation processes have increased the efficiency and yield of maleic anhydride production, reducing costs and environmental impact. The development of high-performance catalysts has enabled the production of high-purity maleic anhydride, meeting the stringent quality requirements of various industries. Additionally, advancements in polymer science have expanded the use of maleic anhydride in the production of high-performance resins and plastics. These technological strides have broadened the scope and utility of maleic anhydride, driving its demand across multiple sectors.

What Are the Current Trends in Maleic Anhydride Consumption?

Current trends in maleic anhydride consumption reflect its broadening applications and evolving industry demands. The automotive industry continues to be a significant consumer of maleic anhydride, driven by the demand for lightweight and durable materials. The construction sector is also witnessing increased use of maleic anhydride-based resins in the production of composites and coatings. The agricultural industry is increasingly utilizing maleic anhydride in the formulation of pesticides and herbicides. Additionally, the growing use of maleic anhydride in the production of biodegradable plastics and environmentally friendly chemicals is on the rise. These trends highlight the diverse applications of maleic anhydride and its importance in various sectors.

What Factors Are Driving the Growth in the Maleic Anhydride Market?

The growth in the maleic anhydride market is driven by several factors. Firstly, the rising demand for unsaturated polyester resins in the automotive, construction, and marine industries is propelling the use of maleic anhydride. Secondly, the expanding applications of maleic anhydride in the production of lubricating oil additives, agricultural chemicals, and copolymers are significant growth drivers. The construction industry`s increasing use of maleic anhydride-based resins in composites and coatings is also contributing to market growth. Additionally, the growing demand for biodegradable plastics and environmentally friendly chemicals is boosting maleic anhydride consumption. The trend towards sustainable and high-performance materials further fuels market growth. Lastly, ongoing research and development efforts aimed at discovering new applications and improving production processes continue to foster market expansion, underscoring the robust growth trajectory of the maleic anhydride market.

Select Competitors (Total 63 Featured) -

• Ashland Global Holdings, Inc.
• Huntsman Corporation
• Lanxess AG
• Mitsubishi Chemical Holdings Corporation
• Polynt S.P.A.
• Zibo Qixiangtengda Chemical Co., Ltd.

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