Change of preferences towards stronger, lighter and fiberglass composite materials across aerospace, automotive, construction and turbine industries has rapidly increased over the past few years. This has resulted in the growing usage of unsaturated polyester resins which are employed in manufacturing lighter composite materials for use in above industries. Maleic anhydride is deployed as one of the major feedstock materials in the production of unsaturated polyester resins. It refers to an acidic anhydride of maleic acid which is generally colorless as compared to white organic compounds and is a versatile chemical intermediate which is widely used to furnish important chemicals such as tetrahydrofuran, 1,4-butanediol and gamma-butyrolactone among others. Maleic anhydride is primarily manufactured using feed stocks including benzene and n-butane of which the production of maleic anhydride from n-butane accounts for a significant share as compared to benzene. This is majorly attributed to the relatively low costs of production as well as environment friendly nature of n-butane as compared to benzene. Since benzene is considered to be toxic in nature and contribute to high production costs, it can be rarely used in production of alkyl resins which in turn are widely used in the production of paints and coatings. Maleic anhydride acts as a vital component of food preservatives, gelling agents and flavor enhancers by converting the maleic anhydride into fumaric acid and maleic acid.
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Increasing disposable incomes coupled with rising penetration of spandex in various products such as sportswear, compression stockings and medical textiles among others has contributed to a surge in demand for 1,4-butanediol. Thus, it is anticipated to increase the overall adoption of maleic anhydride in the near years. Moreover, escalating growth in the construction industry in countries such as China, India, Indonesia, etc. and other developing economies is anticipated to fuel the growth of global maleic anhydride market during the analysis period. This growth is majorly attributed to the increasing adoption of unsaturated polyester resins in applications such as heat resistant tanks and pipes. Hence, this is projected to increase the demand for maleic anhydride during the coming years. In addition, rising use of maleic anhydride along with bio-based feed stock polymers is expected to accelerate the growth of global maleic anhydride market over forecast period.
Maleic anhydride is basically manufactured from butane as a feedstock. Hence, increasing concerns regarding the depletion of crude oil is projected to pose a key challenge to the growth of maleic anhydride market. Furthermore, rapid use of bio-based succinic acid as a substitute to maleic anhydride may also pose a major threat to the growth of global maleic anhydride market.
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Market Classification and Segment Overview
The Global Maleic Anhydride Market can be segmented on the basis of raw material, application and geography. On the basis of raw material, the global maleic anhydride market can be segmented into N-butane and benzene. On the basis of application, the global maleic anhydride market can be segmented into UPR, 1,4-BDO, additives, copolymers and others. On the basis of geography, the global maleic anhydride market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.
|Market||Global Maleic Anhydride Market|
|Analysis Period||2014 – 2024|
|Historic Data||2014 – 2015|
|Forecast Data||2017 – 2024|
|Market Stratification||Raw Material, Application, Geography|
|Regional Scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)|
|Report Coverage||Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis|
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Major players operating in the global maleic anhydride market are focusing on some key market strategies such as mergers and acquisitions to keep hold in the ever competitive market. Moreover, they are concentrating on collaborating with local players to increase their market reach as well as strengthen their goodwill in the global market. Some of the key players involved in the manufacture and supply of maleic anhydride include Polynt SpA, Huntsman Corporation, Lanxess AG, Flint Hills Resources, DSM N.V., Sasol-Huntsman, and Ashland among others.
Market by Raw Material
Market by Application
Market by Geography
o Rest of Europe
o Rest of Asia-Pacific
o Rest of Latin America
Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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