Global Maleic Anhydride Market
Global Maleic Anhydride Market was valued at US$ 3.65 Bn in 2017 and is expected to reach US$ 6.08 Bn by 2026, at a CAGR of 6.6 % during a forecast period.
Global Maleic Anhydride Market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding maleic anhydride market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in maleic anhydride market.
Maleic anhydride is the organic compound which is the maleic acid’s acid anhydride. It is produced in large quantities for the coatings and polymers applications. Maleic anhydride is extracted from feedstock such as benzene and n-butane. N-butane is more environment-friendly in nature and holds low production cost as compared to benzene while, benzene is more toxic and constitutes high production cost. Maleic anhydride is used widely as there has been a change in the preference towards stronger and lighter fiberglass composite materials in construction, aerospace, automotive, and turbine industries Maleic anhydride is used in the production of unsaturated polyester resin as well as in the manufacture of coatings, pharmaceutics, agricultural products, surfactants, and as an additive of plastics.
Increasing demand for maleic anhydride based unsaturated polyester from automobile and construction industries is a major factor anticipated to drive growth of the global maleic anhydride market over the forecast period. However, fluctuating prices of raw material, may hamper growth of the maleic anhydride market during the forecast period. In addition, stringent government rules and regulation, is another factor may restrain growth of the target market. Moreover, increasing adoption for bio-based products, is an opportunity for growth of the global maleic anhydride market over the forecast period.
Global maleic anhydride average prices were relatively stable over last five years owing to steady supply and demand regime and its spot prices across regions are likely to continue the downtrend on account of fall in crude oil prices along with softening of alternate feedstock (butane) prices.
Based on raw material, the N-butane segment is expected to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. N-butane is used as a chemical intermediate in the production of maleic anhydride, ethylene, synthetic rubber, and acetic acid and its by-products. N-butane is a simple asphyxiant with explosive and flammable potential. It is also a widely used substance of abuse. Butane is extremely abundant in many parts of the world, being relatively inexpensive to produce and mine. It is a fossil fuel, which has been created over the course of millions of years by a complex process deep inside the earth from the remains of plants, animals, and numerous microorganisms Butane is the most commonly misused volatile solvent in the UK, and was the cause of 52% of solvent related deaths in 2000.
In terms of application, the Unsaturated Polyester Resin segment accounts for highest share in terms of revenue in the global market. These resins are compounded with varied fillers, reinforcements and cured by using free radical initiators to yield thermoset articles having a wide range of chemical and mechanical properties depending upon the choice of diacids, diols, cross- linking agents, initiators and other additives. These types of resins are useful in making trays, shower stalls, boats, swimming pool, water tanks etc. Unsaturated polyester resin flakes from PET bottles are in great demand for fiberfill for pillows and sleeping bags, carpet fiber, geo-textiles, and regrind for injection and sheet molding.
Asia-Pacific is the largest market for maleic anhydride. The second largest market is Europe, followed closely by North America. The growing automotive and construction industries in Asia-Pacific is anticipated to drive the demand for reinforced glasses and polymers in the region, which is expected to drive the demand for maleic acid in Asia-Pacific. North America and Western Europe are expected to have a moderate market growth for maleic anhydride in the near future. Increasing environmental concerns for greenhouse gas emission leads to the slow production of the 1, 4- Butanediol and alkyd resins. The Middle East & Africa and North America markets are anticipated to observe average growth owing to slow development in the downstream industries within the regions. Central and South America is anticipated to witness significant growth on account of shifting manufacturing bases of various U.S. and European companies in Brazil and Argentina.
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The Scope of Global Maleic Anhydride Market:
Global Maleic Anhydride Market, by Raw Material:
Global Maleic Anhydride Market, by Application:
• UPR (unsaturated polyester resin)
• 1,4-BDO (Butanediol)
Global Maleic Anhydride Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key Players Operating In Global Maleic Anhydride Market:
• Ashland Inc.
• Bartek Ingredients Inc.
• Bluestar Harbin Petrochemical Corp.
• Huntsman Corporation
• Marathon Petroleum Corp.
• Fuso Chemical Co.
• Mitsubishi Chemical Corporation
• Nan Ya Plastics Co.
• Changzhou Yabang Chemical Co. Ltd
• Helm AG
• Polynt Group
• Ningbo Jiangning Chemical
• Nippon Shokubai Co. Ltd
• Thirumalai Chemicals Ltd.
This Report Is Submitted By @Global Market Research Company
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