The global maleic anhydride market size was valued at USD 2.79 billion in 2023. The market is projected to grow from USD 2.92 billion in 2024 to USD 4.26 billion by 2032, exhibiting a CAGR of 4.8% during forecast period.
Market Overview
Maleic anhydride is a versatile chemical intermediate used in the manufacture of various products, including UPR, 1,4-butanediol (BDO), lubricating oil additives, and copolymers. Its applications span multiple industries, such as automotive, construction, agriculture, and pharmaceuticals. The market’s expansion is attributed to the rising demand for lightweight and durable materials, particularly in the automotive and construction sectors.
Key Market Growth Drivers
- Automotive Industry Expansion: The automotive sector’s focus on lightweight and fuel-efficient vehicles has increased the demand for UPR, where maleic anhydride serves as a crucial raw material. This trend is expected to continue, especially with the growing adoption of electric vehicles.
- Construction Sector Growth: The construction industry’s need for durable and corrosion-resistant materials has led to increased use of maleic anhydride-based products, such as fiberglass-reinforced plastics.
- Rising Demand for BDO: Maleic anhydride is a precursor for BDO, which is used in the production of spandex fibers, plastics, and solvents. The growing demand for these products contributes to market growth.
- Advancements in Production Technologies: Innovations in manufacturing processes have improved the efficiency and cost-effectiveness of maleic anhydride production, further propelling market expansion.
Market Challenges
Despite the positive outlook, the maleic anhydride market faces several challenges:
- Raw Material Price Volatility: Fluctuations in the prices of raw materials, particularly n-butane and benzene, can impact production costs and profit margins.
- Environmental Regulations: Stringent environmental policies regarding emissions and waste management may affect production processes and increase compliance costs.
- Health and Safety Concerns: Handling maleic anhydride requires strict safety measures due to its hazardous nature, which can pose challenges in manufacturing and transportation.
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Key Market Players:
- 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.
Polaris Market Research has segmented the maleic anhydride market report on the basis of application, raw materials, end user:
Maleic Anhydride, Application Outlook (Revenue β USD Billion, 2019β2032)
- Unsaturated Polyester Resins (UPR)
- 1,4-BDO
- Lubricating Oil Additives
- Copolymers
- Food Additives
- Others
Maleic Anhydride, Raw Material Outlook (Revenue β USD Billion, 2019β2032)
- Benzene
- N-Butane
Maleic Anhydride, End User Outlook (Revenue β USD Billion, 2019β2032)
- Construction
- Automotive
- Food & Beverages
- Textile
- Pharmaceuticals
- Personal Care
- Agriculture
- Others
Regional Analysis
Asia-Pacific: Dominating the global market, Asia-Pacific accounted for 54.3% of the market share in 2025. The region’s growth is driven by rapid industrialization, a booming automotive industry, and significant demand from applications such as UPR and BDO.
North America: Holding 24% of the market share in 2025, North America’s growth is fueled by a robust chemical industry and increasing demand for maleic anhydride in applications such as UPR and BDO.
Europe: Europe’s market growth is propelled by consumer demand for sustainable and recyclable materials, leading to increased use of maleic anhydride in various applications.
Future Outlook
The maleic anhydride market is set to experience robust growth, driven by the increasing emphasis on lightweight and durable materials in the automotive and construction industries. Companies are expected to invest in innovative solutions and strategic collaborations to enhance their production capabilities and meet the evolving demands of various end-use sectors.
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