Maleic Anhydride Market Size to Reach USD 4963.6 Million by 2027 at CAGR 7.9% - Valuates Reports
BANGALORE, India, June 28, 2021 /PRNewswire/ -- The Maleic Anhydride Market is Segmented by Type (Solid Maleic Anhydride, Molten Maleic Anhydride), by Application (Unsaturated Polyester Resin, 1,4-butanediol (BDO), Other). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published on Valuates Reports in the Chemicals Industry Category.
The global Maleic Anhydride market size is projected to reach USD 4963.6 Million by 2027, from USD 3145.3 Million in 2020, at a CAGR of 7.9% during the forecast period 2021-2027.
Major factors driving the growth of the maleic anhydride market are:
- Increasing demand for Unsaturated Polyester Resins (UPR) and 1,4-Butanediol (BDO)
- The growing use of maleic anhydride for the production of several industrial chemicals, such as malic or maleic acid, lubricating oil additives, alkenyl succinic anhydrides, and fumaric acid.
- During the forecast period, the maleic anhydride market is likely to be driven by the increasing application in the automotive industry, as well as strong growth in the construction and wind energy industries.
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TRENDS INFLUENCING THE GROWTH OF THE MALEIC ANHYDRIDE MARKET
In the automotive and marine industries, the demand for lighter and more fuel-efficient materials is driving the need for lighter and stronger fiberglass composites. Thus the increase in demand for lighter and stronger fiberglass is expected to drive the Maleic anhydride market. This is because lighter and stronger fiberglass are produced using unsaturated polyester resin (UPR) as the primary raw material and Maleic anhydride is a key raw material for producing UPR.
Furthermore, demand for 1,4 BDO and UPR is increasing as the coatings and polymer industries grow. These two components are needed on a large scale for the production of coatings and polymers and are consequently driving the maleic anhydride market.
The growth of the global market for unsaturated polyester resins may also be aided by the expansion of the building and construction industry as a result of the rising global population and lifestyle changes brought about by urbanization. This in turn is expected to drive the growth of which may pull maleic anhydride demand.
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MALEIC ANHYDRIDE MARKET SHARE ANALYSIS
Based on application, the Unsaturated polymer resins segment is expected to be the most lucrative during the forecast period. Because of their cost-effectiveness, high performance, and eco-friendliness, these resins are utilized in a variety of industries, including electrical, automotive, marine, and construction.
During the projected period, APAC will hold the highest share of the worldwide maleic anhydride market. This is related to the region's expanding domestic demand, rising income levels, fast industrialization, and urbanization. During the forecast period, APAC is expected to grow at the fastest rate.
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Major Players in the Maleic Anhydride Market
- Huntsman Corporation
- Sasol-Huntsman
- Ashland
- Polynt
- LANXESS
- Thirumalai Chemicals Ltd.
- Flint Hills Resources
- BASF
- YONGSAN CHEMICALS,INC
- DSM
- Mitsubishi Chemical
- NIPPON SHOKUBAI
- Elekeiroz SA
- Bartek Ingredients
- Korea PTG
- CEPSA
- MOL Group
- Mitsui Chemicals
- Changzhou Yabang Chemical
- Tianjin Bohua Zhonghe Chemical
- Qiaoyou Chemical
- Zibo Qixing Tengda Chemical
- Zhejiang Jiangshan Chemical
- Hongxin Chemical
- Shengyuan Group
- Jiangyin Shunfei Fine chemical
- Jiangsu Zhongteng Chemical
- Huanghua Hongcheng Business
- Shanxi Hengqiang Chemical
- Changzhou Shuguang Chemical
- Others.
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SIMILAR REPORTS
- The global Unsaturated Polyester Resins (UPR) market size was valued at USD 9945.6 Million in 2019 and it is expected to reach USD 17720 Million by the end of 2026, growing at a CAGR of 8.5% during 2021-2026. Due to abundant raw material resource and mature technology, there are many suppliers all over the world. The market is fragmented on a global level with the top four companies accounting for less than 25% of the market in 2017. Key global participants in the market include Ashland, DSM, Polynt-Reichhold and Yabang. During them, Polynt-Reichhold is the global leader.
- The global 1, 4 Butanediol market size is projected to reach USD 9559.7 Million by 2027, from USD 5523.2 Million in 2020, at a CAGR of 7.7% during 2021-2027. In application, 1,4 Butanediol downstream is wide and recently 1,4 Butanediol has acquired increasing significance in various fields of THF, PBT, GBL, PU and others. Globally, the 1,4 Butanediol market is mainly driven by growing demand for THF which accounts for 52.38% global downstream consumption of 1,4 Butanediol in 2017.
- The Styrene Maleic Anhydride (SMA) Copolymer market size was valued at USD 133 Million in 2020 and is projected to reach USD 173.9 Million by 2027, at a CAGR of 3.9% during the 2021-2027
- Styrene Maleic Anhydride (SMA) Market contains segmentation By Type (Alternate Styrene-Maleic Anhydride Copolyme, Random Styrene-Maleic Anhydride Copolymer), By Application (Automobile Instrument, Phase Solvent, Building Materials, Others) and Regional Opportunity Analysis and Industry Forecasts 2026.
- Maleic Anhydride Grafted Polyethylene Market contains segmentation By Type (Maleic Anhydride Grafted High Density Polyethylene, Maleic Anhydride Grafted Low Density Polyethylene), By Application (Coupling Agent, Compatibilizer, Adhesive, Others) and Regional Opportunity Analysis and Industry Forecasts 2026.
- Maleic Anhydride Adhesion Promoters Market contains segmentation By Type (Benzene Oxidation Method, C4 Olefins, Phthalic Anhydride By production, N-Butane Oxidation, Other), By Application (Medicine, Pesticide, Chemical, Other) and Regional Opportunity Analysis and Industry Forecasts 2026.
To see the full list of related reports on the Maleic Anhydride
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