According to the ChemAnalyst report titled “Global Maleic Anhydride Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032,” the global Maleic Anhydride market is expected to experience significant growth, reaching approximately 3600 thousand tonnes by 2032, with an expected Compound Annual Growth Rate (CAGR) of 4.79% during the forecast period until 2032. This growth is driven by the increasing demand for Maleic Anhydride in various end-use industries, including Unsaturated Polyester Resin, 1,4-butandiol, Fumaric Acid, Lube Oil Additives, and others.
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Maleic anhydride, an organic compound with the chemical formula C2H2(CO)2O, is a colorless-white compound produced by vapor-phase oxidation of n-butane using vanadium-phosphorus oxide as a catalyst. It serves as a key raw material in the synthesis of resins and lubricative oils for industrial applications. Maleic Anhydride has a wide range of applications, including as a precursor or additive in lubricants, food additives, epoxy hardening agents, paper sizing, copolymers, hair care products, pharmaceuticals, sugar substitutes, paints, coatings, insecticides, and detergents.
The global Maleic Anhydride market is predominantly driven by its use as a feedstock for the production of essential resins and polymers, such as Unsaturated Polyester Resin. In 2021, the Unsaturated Polyester Resin industry consumed approximately 50% of the global Maleic Anhydride. These resins are widely utilized in the construction and transportation sectors for applications like cladding, tankers, pipelines, and bathroom accessories. This high demand from the Unsaturated Polyester Resin industry is expected to fuel the global Maleic Anhydride market in the forecast period.
In terms of regional demand, Asia Pacific dominates the global Maleic Anhydride market, accounting for approximately half of the market in 2021. The region’s ongoing modernization, industrialization, and construction activities in response to a growing population are significant factors contributing to its market dominance. It is anticipated that Asia Pacific will continue to lead the market in the forecast years, driven by strong demand from emerging economies like China, India, and Japan.
The global Maleic Anhydride market is segmented based on end-use into categories such as Unsaturated Polyester Resin, 1,4-butandiol, Fumaric Acid, Lube Oil Additives, and others. Among these, the Unsaturated Polyester Resin industry is the largest consumer, followed by 1,4-butandiol and Lube Oil Additives.
Key players in the Maleic Anhydride market include Qixiang Tengda Chemical, Huntsman Corporation, BASF, Taiyuan Qiaoyou Chemical Industrial, Shanxi Qiaoyou Chemical Co., Ltd, Sasol-Huntsman GmbH & Co., Lanxess, and Ningbo Jiangning Chemical Co. Ltd.
Mr. Karan Chechi, Research Director at TechSci Research, a research-based global management consulting firm associated with ChemAnalyst, highlighted, “The surging demand for Maleic Anhydride to produce industrially significant compounds and resins, particularly Unsaturated Polyester Resin used in the construction and automobile industry, is expected to drive the global Maleic Anhydride market in the forecast period until 2032. Furthermore, the demand from the Lube Oil Additives sector is also anticipated to contribute to the global Maleic Anhydride market’s growth in the forecast period.”
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https://www.chemanalyst.com/industry-report/maleic-anhydride-market-654
The global Maleic Anhydride market is segmented based on end-use into categories such as Unsaturated Polyester Resin, 1,4-butandiol, Fumaric Acid, Lube Oil Additives, and others. Among these, the Unsaturated Polyester Resin industry is the largest consumer, followed by 1,4-butandiol and Lube Oil Additives.
Key players in the Maleic Anhydride market include Qixiang Tengda Chemical, Huntsman Corporation, BASF, Taiyuan Qiaoyou Chemical Industrial, Shanxi Qiaoyou Chemical Co., Ltd, Sasol-Huntsman GmbH & Co., Lanxess, and Ningbo Jiangning Chemical Co. Ltd.
Mr. Karan Chechi, Research Director at TechSci Research, a research-based global management consulting firm associated with ChemAnalyst, highlighted, “The surging demand for Maleic Anhydride to produce industrially significant compounds and resins, particularly Unsaturated Polyester Resin used in the construction and automobile industry, is expected to drive the global Maleic Anhydride market in the forecast period until 2032. Furthermore, the demand from the Lube Oil Additives sector is also anticipated to contribute to the global Maleic Anhydride market’s growth in the forecast period.”
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