Maleic Anhydride Market Overview:
The maleic anhydride market is witnessing steady growth due to its extensive applications in industries such as automotive, construction, and textiles. Used primarily in the production of unsaturated polyester resins and other chemical intermediates, maleic anhydride is critical in manufacturing durable and high-performance products.
Global Maleic Anhydride Market size and share is currently valued at USD 2.92 billion in 2024 and is anticipated to generate an estimated revenue of USD USD 4.26 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 4.8 % Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Increasing Demand for Unsaturated Polyester Resins (UPRs): UPRs, used in automotive and construction industries, are driving the demand for maleic anhydride due to their superior durability and corrosion resistance.
- Growth in Construction Activities: Expanding infrastructure projects worldwide are fueling the need for adhesives, sealants, and coatings, all of which rely on maleic anhydride derivatives.
- Rising Adoption in Automotive Applications: Lightweight and durable materials made using maleic anhydride are gaining traction in the automotive sector to enhance fuel efficiency and performance.
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Key Companies in Maleic Anhydride Market:
- BASF SE
- Huntsman Corporation
- Mitsubishi Chemical Corporation
- Arkema S.A.
- Saudi Basic Industries Corporation (SABIC)
- Evonik Industries AG
- LyondellBasell Industries Holdings B.V.
- Formosa Plastics Corporation
- Daicel Corporation
- Koppers Holdings Inc.
- Domo Chemicals
- Kraton Polymers
- Eastman Chemical Company
- Xinjiang Tianye Chemical Co. Ltd.
- Jiangsu Zhengdan Chemical Co. Ltd.
Industry Developments
Manufacturers are focusing on sustainable production methods, such as bio-based maleic anhydride, to address environmental concerns. Key players are also investing in expanding production capacities and enhancing supply chains to meet growing demand. Technological advancements in processing and product development are enabling the creation of high-purity maleic anhydride for specialized applications.
Challenges and Opportunities
The market faces challenges such as volatile raw material prices and stringent environmental regulations governing chemical production. However, these challenges also open opportunities for innovation, particularly in developing bio-based maleic anhydride and improving process efficiencies. Emerging economies with increasing industrial activities present significant growth potential for the market.
Maleic Anhydride Market Segmentation:
Polaris Market Research has segmented the maleic anhydride market report based on deployment mode, offering, application, organization size, and vertical. This segmentation ensures detailed insights into market trends and dynamics, aiding stakeholders in strategic decision-making.
Maleic Anhydride, Application Outlook (Revenue – USD Billion, 2019–2032)
- Unsaturated Polyester Resins (UPR)
- 1,4-BDO
- Lubricating Oil Additives
- Copolymers
- Food Additives
- Others
Maleic Anhydride, Raw Material Outlook (Revenue – USD Billion, 2019–2032)
- Benzene
- N-Butane
Maleic Anhydride, End User Outlook (Revenue – USD Billion, 2019–2032)
- Construction
- Automotive
- Food & Beverages
- Textile
- Pharmaceuticals
- Personal Care
- Agriculture
- Others
In conclusion, the maleic anhydride market is set for sustained growth, supported by its diverse applications and rising demand across key industries. Innovations in sustainable production and strategic market expansions will further strengthen its position in the global market.