According to ChemAnalyst report, “ Maleic Anhydride Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030 ”. Maleic Anhydride market witnessed a demand of around 2.4 million tons globally in 2020 and is anticipated to grow at a significant rate with a healthy CAGR of 4.5% until 2030 owing to its surging demand for the production of UPRs and other derivatives.
Maleic Anhydride is a clear, colorless or white colored solid organic compound with a very solid strong and bitter smell. It is highly reactive in nature, easily miscible with water, ethanol, acetone and dioxane but partially soluble in benzene, chloroform, and toluene. Malic Acid is formed when MAN is dissolved in water. Maleic Anhydride is produced commercially by the oxidation of butane or benzene at a very high temperature (400-430oC). By Butane production method, it can be produced in either fixed bed or fluidized bed reactor. Fluidized bed process is preferred over fixed bed owing to its several advantages like no requirement of premixing coupled with the limited air hydrocarbon concentration in the feedstock. However, there are certain disadvantages also such as low by product formation, low conversion rates and catalyst abrasions.
Maleic Anhydride (MAN) is prominently used for the production of Unsaturated Polyester Resin (UPR) that is further employed in several industrial applications. UPRs are used in the manufacturing of high-performance components that are utilized in transportation and marine industries such as closure and body panels, fenders, boat hulls / decks and other large components. Unsaturated Polyester Resins also employed in manufacturing fiber reinforced plastics and filled plastic products like sanitary ware, pipes, tanks, gratings etc. The growing Building and Construction sector along with Automotive is going to drive the demand for Maleic Anhydride in the forecast period.
Read Full Report Here: https://www.chemanalyst.com/industry-report/maleic-anhydride-market-654
Maleic Anhydride also acts as a vital ingredient in the production of 1,4-butanediol and tetrahydrophthalic anhydrides (curing agents), MAN copolymers and Plasticizers. Moreover, Maleic Anhydride also finds application as a precursor, intermediate, or an additive in lubricants, Paints and resins, surfactants (water treatment detergents), food additives (fumaric acid, succinic acid & malic acid) and taste enhancers, pharmaceuticals, paper sizing , agrochemicals (Insecticides and pesticides), hairsprays, fuel additives, chemicals, and artificial sweeteners. The surging demand for Maleic Anhydride from Food and Beverages is expected to boost its market in the upcoming years.
Based on its major derivatives, its market is segmented into product types such as Unsaturated Polyester Resin (URP), 1,4-Butanediol, tetrahydrophthalic anhydrides, Plasticizers, Resins, Surfactants, Lubricant Additives, MA copolymers, Food Additives and Others. On the basis of the applications of MAN, the major end use industries are Automotive, Building and Construction, Food and Beverage, Agriculture, Electronics, Personal Care, Pharmaceutical, and Others. The growth in Automotive and Construction sector is likely to fuel the demand for Maleic Anhydride in the forecast period. However, the key raw materials, Butane and Benzene used for the production of MAN are derived from petrochemicals thus fluctuations in the prices of the crude oil directly influence the prices of Maleic Anhydride and its derivatives,
The sudden outbreak of the COVID-19 virus in the first half of 2020, across the globe led to the imposition of nationwide lockdown by the major economies. It resulted in trade restrictions. disruption in the functioning of several manufacturing plants, and disturbance in value and demand chain. The Maleic Anhydride market was also affected in the first wave of COVID-19 because its major end use industries such as Automobile, Construction and Electronics were drastically affected in the first wave of COVID -19. However, overall Maleic Anhydride industry was not much affected despite the pandemics due to the steady demand for MAN from food & beverages, pharmaceuticals, agriculture, and personal care sectors amid-Covid 19. Moreover,
Read Free Request Sample: https://www.chemanalyst.com/ChemAnalyst/RequestForm
Region wise, Asia Pacific holds the maximum demand share of the Maleic Anhydride market and is expected that its Maleic Anhydride market would grow at a promising pace through 2030 owing to rapid industrialization, urbanization, and a huge manufacturing as well as consumer base in the region coupled with the ongoing construction projects and growing automobile and pharmaceutical’s sector in the region. Additionally, China is the leading producer of electronics and agrochemicals which is likely to fuel the market for Maleic Anhydride in the forecast period.
Key Players:
- Huntsman Corporation LLC.
- Polynt
- LANXESS AG
- HELM AG
- Mitsubishi Chemical Corporation
- Thirumalai Chemicals Ltd.
- Nippon Shokubai Co. Ltd.
- MOL Hungarian Oil & Gas Plc.
- Royal DSM NV, and Others.
“Maleic Anhydride is identified as a highly used chemical, that is employed in almost all the chemical industries. Hence, its wide range industrial applications are anticipated to propel the Maleic Anhydride market growth in the forecast period. UPRs, Butanediols and tetrahydrophthalic anhydrides, Malic Acid are the major derivatives of Maleic Anhydride and finds applications in various end use industries. 1, 4 Butanediol is used in the production of fine chemicals, high performance polymers and solvents which are further utilized in numerous end use industries. Owing to all these applications of Maleic Anhydride and its derivatives, a surge in its demand is anticipated to drive its market growth through the forecast period and offer several opportunities for manufacturers to expand their capacities to fill demand and supply gap in future.
About Us
ChemAnalyst is a subsidiary of Techsci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go.
The ChemAnalyst team also assists clients with Market Analysis for over 1200 chemicals including assessing demand & supply gaps, locating verified suppliers, choosing whether to trade or manufacture, developing Procurement Strategies, monitoring imports and exports of Chemicals, and much more. The users will not only be able to analyze historical data for past years but will also get to inspect detailed forecasts for the upcoming years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.
ChemAnalyst is your one-stop solution for all data-related needs. We at ChemAnalyst are dedicated to accommodate all of our world-class clients with their data and insights needs via our comprehensive online platform.
Contact Us:
Imani Jex
420 Lexington Avenue,
Suite 300, New York,
NY, United States, 10170
Call:- +1 3322586602
Email: sales@chemanalyst.com
Website: https://www.chemanalyst.com/