Maleic Anhydride Market
Maleic anhydride is manufactured from butane or benzene by oxidation process. Benzene is available at higher cost than butane, which makes butane favourable raw material. Butane oxidation takes place in fluidised or fixed bed reactor.
Maleic anhydride is used in 1, 4- butanediol (BDO) chemical production which has strong application in textiles. Global BDO market is expected to grow at over 8% owing to increasing consumer health & fitness consciousness and rise in athletic professionals. Maleic anhydride improves cloth elasticity, durability and reduces weight; making it ideal material for manufacturing sport wear. Robust growth in sports-wear and textile industry may boost product demand.
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Rapid industrialisation mainly in China, India, Brazil and Mexico drives industrial equipment sales and subsequent maintenance requirement. Industrial lubricant is a largest segment with volume of about 15 million ton in 2016. Augmented output in mining, metal & machining sector along with increase in oil field drilling and exploration has led to rise in lubricant industry demand. Maleic anhydride is used as dispersant in crank oil and corrosion inhibitor in gasoline. It protects engine from scaling, corrosion and damage caused by fuel friction with engine metal. It also improves fuel efficiency and reduce harmful chemical emission.
Asia Pacific led by Japan, India, and China has witness significant growth in maleic anhydride market size. growing lubricant additive demand accompanied with improving infrastructure may boost product demand. rise in disposable income leading to growth in construction and automotive industry may drive regional industry growth.
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Butane & benzene are raw material in manufacturing process and derived from crude oil. Fluctuating market price along with environmental concerns may hamper industry profitability thereby affecting maleic anhydride price trends.
Global maleic anhydride market share is fragmented. Key players are Lanxess, Huntsman, Bartek, Nippon Shokubai, Polynt, Flint Hills, Sasol, MOL Hungarian, Changzhou Yabang, Thirumalai, Zhejiang Jianghshan Chemicals and Mitsubishi Chemicals and Bluestar Harbing petrolchemicals.
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As per new analytical studies published by GME, the Maleic Anhydride Market is tended to identify a striking amplification in CAGR by 5.8% covering the estimated duration (2020-2026). Maleic anhydride [C₂H₂(CO)₂O] is an organic compound. Maleic Anhydride is formed by oxidization of benzene or butane. Colorless, solid white, and acrid odor are some of the features of maleic anhydride. The applicability of maleic anhydride can be seen used in industries
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