SAN FRANCISCO, August 13, 2015 /PRNewswire/ --
Global maleic anhydride market is expected to reach USD 5.67 billion by 2020. Increasing construction spending, particularly in Asia Pacific, coupled with positive outlook on global automotive industry is expected to drive global market growth. Volatile raw material supply, including n-butane and benzene, is expected to remain a key challenge for industry participants over the next five years.
Majority of maleic anhydride produced globally goes into production of unsaturated polyester resins (UPR), accounting for over 48% of total demand in 2013. Growing marine industry coupled with increasing fiber-reinforced polymers (FRP) application scope in construction is expected to provide growth avenues for the UPR industry. BDO is the most attractive application segment for maleic anhydride and is expected to witness the fastest growth in terms of consumption over the forecast period.
Browse full research report with TOC on "Maleic Anhydride Market Analysis By Application (Unsaturated Polyster Resins, BDO, Additives, Copolymers) and Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/maleic-anhydride-market
In 2013, the global maleic anhydride market volume was 1,869.9 kilo tons. Companies have been eyeing a huge market potential for manufacturing BDO using maleic anhydride on account of growing tetrahydrofuran (THF) demand particularly in Asia Pacific and Middle East. BDO market is thus expected to be the fastest growing application segment, at an estimated CAGR of 7.2% from 2014 to 2020.
Asia Pacific emerged as the leading regional market for maleic anhydride and accounted for over 55% of total market volume in 2013. In addition, it is also the largest producer of maleic anhydride which has been a major factor for the growth of domestic market. The region is expected to witness the fastest growth in product demand over the forecast period owing to significant requirement of UPR and BDO in construction and automotive industries.
North America maleic anhydride industry is primarily driven by the recovery of housing and boating industries particularly in the U.S. Increasing construction spending in Mexico is also expected to contribute to the regional market growth. Latin America is expected to project significant growth over the forecast period owing to increasing penetration of lubricant additives and copolymers markets.
Global maleic anhydride market is highly fragmented with top 5 companies accounting for less than 50% of the global demand. Major companies operating in the industry include Huntsman, DSM NV, Yabang Jiangsu, Nippon Shokubai Co Ltd, Polynt SpA, Ashland Chemical Co, Lanxess AG and Flint Hills Resources.
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