The global maleic anhydride market size reached US$ 3.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.31% during 2024-2032. Rising product utilization in the construction industry, increasing product adoption in the automotive industry, and development of new production methods represent some of the key factors driving the market.
Market Size in 2023
|US$ 3.4 Billion
Market Forecast in 2032
|US$ 5.0 Billion
|Market Growth Rate 2024-2032
Maleic anhydride (C4H2O3) is a highly reactive, colorless, and crystalline organic compound available in flake, briquette, pellet, and lump variants. It is produced by the oxidation of benzene or n-butane in the presence of vanadium oxide catalysts. Maleic anhydride is widely used in resins, coating, pharmaceuticals, surfactants, agricultural products, and plastics. It is also used in water treatment chemicals, paper sizing, artificial sweeteners, flavor enhancers, cosmetics, and lubricants. Maleic acid is a biodegradable compound with a pungent odor and excellent solubility in water and methanol. It improves mechanical strength, controls pH, enhances texture, and exhibits corrosion-resistant properties. As a result, maleic anhydride finds extensive applications across the construction, automotive, food and beverage (F&B), electronics, cosmetics, personal care, and pharmaceutical industry.
Maleic Anhydride Market Trends:
The rising product utilization in the construction industry is one of the primary factors creating a positive outlook for the market. Maleic anhydride is widely used to produce unsaturated polyester resin (UPR) that finds application in the manufacturing of tiles, building panels, reinforcements, household structure composites, countertops, tubs, and sinks due to its low price and fast curing time. In addition to this, the widespread product utilization as a protective coating for building sites and as a plasticizer in concrete to improve viscosity and pot life is acting as another growth-inducing factor. Furthermore, rising product adoption in the automotive industry to manufacture various composites, such as fenders, body panels, heat shields, grille opening reinforcement (GOR), pick-up boxes, and headlamp reflectors, is providing an impetus to the market growth. Along with this, increasing application of maleic anhydride to produce lubricant additives, such as pour point depressants, viscosity index improvers, and dispersants, is propelling the market growth. Additionally, the recent development of a new method to synthesize maleic anhydride using plate vanadium phosphorous oxide (VPO) catalyst and renewable feedstock chemicals, such as furfural, which provides better yield, improves selectivity, and minimizes adverse environmental impact is positively influencing the market growth. Moreover, the widespread product demand in the F&B industry as an artificial sweetener, flavor enhancer, and preservative and to produce various food additives, such as fumaric acid, succinic acid, and malic acid, is favoring the market growth. Other factors, including escalating product demand in the pharmaceutical industry, rising product utilization in manufacturing cosmetics, and increasing product demand for producing insecticides and fungicides, are anticipated to the drive market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global maleic anhydride market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on raw material, application, and end use industry.
Raw Material Insights:
The report has also provided a detailed breakup and analysis of the maleic anhydride market based on the raw material. This includes n-butane and benzene. According to the report, n-butane represented the largest segment.
- Unsaturated Polyester Resin (UPR)
- 1-4, Butanediol (BDO)
A detailed breakup and analysis of the maleic anhydride market based on the application has been provided in the report. This includes unsaturated polyester resin (UPR), 1-4, butanediol (BDO), additives, copolymers, and others. According to the report, unsaturated polyester resin (UPR) accounted for the largest market share.
End Use Industry Insights:
- Food and Beverage
- Oil Products
- Personal Care
A detailed breakup and analysis of the maleic anhydride market based on the end use industry has been provided in the report. This includes construction, automobile, food and beverage, oil products, electronics, personal care, pharmaceuticals, and others. According to the report, construction accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for maleic anhydride. Some of the factors driving the Asia Pacific maleic anhydride market include rapid industrialization, increasing automotive production, rising demand from end user industries, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global maleic anhydride market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Helm AG, Huntsman Corporation, INEOS Group Limited, Lanxess AG, Merck KGaA, Mitsubishi Chemical Corporation, MOL Group, Nan Ya Plastics Corporation, Ningbo Jiangning Chemical Co. Ltd., Nippon Shokubai Co. Ltd., Polynt S.p.A, Thirumalai Chemicals Limited, Tianjin Bohai Chemical Industry Group Supply and Sales Co. Ltd., Zibo Qixiang Tengda Chemical Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Raw Materials Covered
||Unsaturated Polyester Resin (UPR), 1-4, Butanediol (BDO), Additives, Copolymers, Others
|End Use Industries Covered
||Construction, Automobile, Food and Beverage, Oil Products, Electronics, Personal Care, Pharmaceuticals, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Helm AG, Huntsman Corporation, INEOS Group Limited, Lanxess AG, Merck KGaA, Mitsubishi Chemical Corporation, MOL Group, Nan Ya Plastics Corporation, Ningbo Jiangning Chemical Co. Ltd., Nippon Shokubai Co. Ltd., Polynt S.p.A, Thirumalai Chemicals Limited, Tianjin Bohai Chemical Industry Group Supply and Sales Co. Ltd., Zibo Qixiang Tengda Chemical Co. Ltd., etc.
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Key Questions Answered in This Report:
- How has the global maleic anhydride market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global maleic anhydride market?
- What are the key regional markets?
- Which countries represent the most attractive maleic anhydride markets?
- What is the breakup of the market based on the raw material?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What is the competitive structure of the global maleic anhydride market?
- Who are the key players/companies in the global maleic anhydride market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the maleic anhydride market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global maleic anhydride market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the maleic anhydride industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.