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Maleic Anhydride Market 2024 : Trends, Business Growth And Major Driving Factors | Huntsman Corporation, Lanxess AG, Mitsubishi Chemical Corporation, HELM AG, Ningbo Jiangning Chemical Co. Ltd.
Maleic Anhydride Global Market Report
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Maleic Anhydride industry. This report on Maleic Anhydride market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The maleic anhydride market size has grown strongly in recent years. It will grow from $3.5 billion in 2023 to $3.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to chemical manufacturing growth, polymer production, construction and infrastructure, automotive industry, furniture and appliances. The maleic anhydride market size is expected to see strong growth in the next few years. It will grow to $4.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
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Key Market Players:
Huntsman Corporation, Lanxess AG, Mitsubishi Chemical Corporation, HELM AG, Ningbo Jiangning Chemical Co. Ltd., Nippon Shokubai Co. Ltd., Ashland Global Holdings Inc., Changzhou Shuguang Chemical Co. Ltd., Bartek Ingredients Inc., BASF SE, Cepsa Química S.L.U., Polynt S.p.A., Sasol Limited, Flint Hills Resources LP, Zibo Qixing Tengda Chemical Co. Ltd., Yongsan Chemicals Inc., Tianjin Bohai Chemicals, Thirumalai Chemicals Limited, Gulf Advanced Chemical Industries Co. Ltd., MOL Group, Yunnan Yunwei Company Limited, Jiangyin Shunfei Fine Chemical Co. Ltd., Jiangsu Zhongteng Chemical Co. Ltd., Fuso Chemical Co. Ltd., Mitsui Chemicals Inc., Shandong Hongxin Chemical Co. Ltd., Baotie Hebei Chemical Industry Co. Ltd., Aekyung Petrochemical Co. Ltd., DSM NV, Merck & Co. Inc., Bluestar Harbin Petrochemical Corporation, INEOS, NAN YA PLASTICS CORPORATION, China National Chemical Corporation, Hexion Inc., Lonza Group AG, Zibo Qixiang Tengda Chemical Co. Ltd., Zhejiang Weishi Biotechnology Co. Ltd., Zouping Qili Additives Co. Ltd.
Market Drivers:
According to the Maleic Anhydride Market Report 2024 by The Business Research Company, the key factors driving the growth of the Maleic Anhydride market, includes the rising demand for automobiles globally has contributed to the growth of the maleic anhydride market. The automobile industry is a business of producing and selling self-powered vehicles, including passenger cars, trucks, farm equipment, and other commercial vehicles. The automobile industry uses unsaturated polyester resin (UPR) derived from maleic anhydride for building parts due to its design versatility, lightweight, and mechanical properties.
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Market segments for Maleic Anhydride include:
1) By Type: Solid Maleic Anhydride, Molten Maleic Anhydride
2) By Raw Material: Benzene, N-Butane
3) By Application: Unsaturated Polyester Resin, Copolymers, Lubricant Additives, Alkyl Succinic Anhydrides, Malic Acid, Fumaric Acid
4) By End User: Construction, Automobile, Food and Beverage, Oil Products, Electronics, Personal Care, Pharmaceuticals, Agriculture
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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