Maleic Anhydride Market Size & Share, by Type (Molten, Solid); End-user (Construction, Automotive, Chemical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5139
  • Published Date: Aug 10, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Maleic Anhydride Market size is anticipated to surpass USD 23 billion by the end of 2035, growing at a CAGR of 10% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of maleic anhydride was USD 12 billion. The demand for Maleic Anhydride is directly linked to the growth of end-user industries such as construction, automotive, and consumer goods. The overall economic growth of regions like Asia-Pacific and the Middle East has a significant impact on the demand for Maleic Anhydride as these regions are key consumers of the chemical.

The cost of raw materials, such as benzene and butane, plays a vital role in determining the overall production cost and thus affects the pricing of Maleic Anhydride. Stringent environmental regulations on chemical production and emissions could impact the market by affecting manufacturing processes or limiting market access. Innovations and improvements in production technologies can influence market dynamics and competitiveness.


Maleic Anhydride Market
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Maleic Anhydride Market: Growth Drivers and Challenges

Growth Drivers

  • Growing demand from the construction industry: Maleic Anhydride is used in the production of unsaturated polyester coating resins, which are widely used in the construction industry for various applications like pipes, tanks, and building materials.
  • Increasing automotive production: Maleic Anhydride is utilized in the production of automotive coatings, adhesives, and sealants, which are in high demand due to the growing automotive industry. According to the International Organization of Motor Vehicle Manufacturers (OICA), global motor vehicle production reached approximately 92 million units in 2020, indicating a steady demand for automotive-related chemicals.
  • Rising demand for consumer goods: Maleic Anhydride is used in the production of various consumer goods like packaging materials, toys, and household items, which are in constant demand.

Challenges

  • Volatile Feedstock Prices: The cost of raw materials used in the production of Maleic Anhydride, such as benzene or butane, can be subject to price fluctuations. Changes in feedstock prices can directly affect the production costs, leading to potential challenges in maintaining stable profit margins.
  • Environmental Regulations
  • Market Competition

Maleic Anhydride: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~10%

Base Year Market Size (2022)

~ USD 12 Billion

Forecast Year Market Size (2035)

~ USD 23 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Maleic Anhydride Segmentation

Type (Molten, Solid)

The solid segment in the maleic anhydride market is estimated to gain the largest revenue share in the year 2035. Solid Maleic Anhydride can be used in different types of reactors and processes, making it a versatile option for chemical manufacturers. Solid Maleic Anhydride is often more cost-effective than molten Maleic Anhydride, contributing to its popularity among end-users.

Solid Maleic Anhydride finds applications in various industries, including unsaturated polyester resin production, additives and copolymers, agricultural chemicals, and lubricant components. According to industry reports and studies, the global unsaturated polyester resin sales was valued at over USD 12 billion in 2020, reflecting the significant demand for solid maleic anhydride in this application.

End User (Construction, Automotive, Chemical)

The automotive segment is expected to garner a significant share in the year 2035. The expansion of the global automotive industry leads to an increased demand for automotive coatings, adhesives, and sealants, all of which may use Maleic Anhydride-derived products. According to the International Organization of Motor Vehicle Manufacturers (OICA), global motor vehicle production reached approximately 92 million units in 2020, indicating the continued growth of the automotive industry.

Automakers are increasingly focusing on using lightweight materials to improve fuel efficiency and reduce emissions. Maleic Anhydride-derived products, such as unsaturated polyester resins, are used in lightweight composite materials for automotive parts.

Our in-depth analysis of the global market includes the following segments:

           Type

  • Molten
  • Solid

 

   

           End User

  • Construction
  • Automotive
  • Chemical

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Maleic Anhydride Industry – Regional Synopsis

APAC Market Forecast

The maleic anhydride market in the Asia Pacific region is projected to hold the largest market share of 38% by the end of 2035. The Asia Pacific region is experiencing rapid industrialization and urbanization, leading to increased demand for construction materials, automotive products, and consumer goods, all of which utilize Maleic Anhydride-derived products. According to the Asian Development Bank (ADB), the urban population in Asia is expected to increase from 2.6 billion in 2015 to nearly 3.5 billion by 2030, indicating the pace of urbanization and the potential demand for Maleic Anhydride applications.

North American Market Statistics

The maleic anhydride market in the North America region is projected to hold the second largest share during the forecast period. The North American region has a strong presence of industries such as construction, automotive, and consumer goods, which are major consumers of Maleic Anhydride-derived products. The growth and expansion of these industries drive the demand for Maleic Anhydride. The construction industry in North America has been witnessing steady growth due to infrastructure development projects and increasing demand for commercial and residential buildings. Maleic Anhydride is used in the production of unsaturated polyester resins for various construction materials.

Research Nester
Maleic Anhydride Market Size
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Companies Dominating the Maleic Anhydride Landscape

top-features-companies
    • Huntsman Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Ashland Global Holdings Inc.
    • Lanxess AG
    • Mitsubishi Chemical Corporation
    • NIPPON SHOKUBAI CO., LTD.
    • Bartek Ingredients Inc. (acquired by TorQuest Partners)
    • Polynt Group
    • Fuso Chemical Co., Ltd.
    • Thirumalai Chemicals Limited
    • Changzhou Yabang Chemical Co., Ltd.

In-the-news

In The News

  • Ashland Global Holdings Inc. announced in March 2023 that it would acquire Albemarle Corporation's catalysts business for USD 1.15 billion. The acquisition is expected to close in the second half of 2023.
  • Lanxess announced that it would acquire Emerald Performance Materials, a specialty chemicals company based in the United States. The acquisition was completed in January 2020. Emerald Performance Materials is a leading producer of specialty amines, which are used in a variety of applications, including agricultural fumigants, plastics, and coatings.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5139
  • Published Date: Aug 10, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for automotive sector is the major factor driving the market growth.

The market size of maleic anhydride is anticipated to attain a CAGR of 10% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Huntsman Corporation, Ashland Global Holdings Inc., Lanxess AG, Mitsubishi Chemical Corporation, NIPPON SHOKUBAI CO., LTD., Bartek Ingredients Inc., and others.

The automotive segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Maleic Anhydride Market Report Scope
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