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Maleic Anhydride Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Huntsman Corporation, Lanxess AG, Mitsubishi Chemical Corporation, HELM AG, Ningbo Jiangning Chemical Co. Ltd
Maleic Anhydride Market Size
The Business Research Company offers in-depth market insights through Maleic Anhydride Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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%. The growth in the forecast period can be attributed to environmental regulations, plasticizers and resins, transportation industry, electronic devices, packaging industry. Major trends in the forecast period include smart materials and composites, green infrastructure, sustainable chemistry innovations, bio-based maleic anhydride, advanced polymer applications.
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Market Segmentation:
The main types of maleic anhydride are solid maleic anhydride and molten maleic anhydride. Solid maleic anhydride is primarily used in the formation of unsaturated polyester resins and is in solid form in nature. Maleic anhydride is made of different raw materials such as benzene and n-butane that are used by end users in various sectors such as construction, automobiles, food and beverages, oil products, electronics, personal care, pharmaceuticals, and agriculture. Maleic anyhydride is used in unsaturated polyester resin, copolymers, lubricant additives, alkyl succinic anhydrides, malic acid, fumaric acid.
Major Driver - Global Demand For Automobiles Fuels Growth In The Maleic Anhydride Market
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. According to a report from January 2021, General Motors Co. (GM) reported a 4.8% increase in deals, while Toyota and Volkswagen saw their deals rise by 9.4% and 10.8%. This rise has, in turn, boosted the growth of maleic anhydride and its product market.
Competitive Landscape:
Major companies operating in the maleic anhydride market include 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.
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Top Trend - Elevated R&D Investments And Innovative Applications Drive Growth In The Maleic Anhydride Market
Increased investments in research and development are a key trend gaining popularity in the maleic anhydride markets. Major pharmaceutical companies operating in the maleic anhydride market are focused on exploring the potential of L-malic acid in dietary supplements. There has been a substantive demand for cardioprotective and immunity-boosting ingredients all over the world. For instance, the current and tenth editions of the global maleic anhydride market size outlook to 2028 estimate the market to register a moderate-to-high growth rate during the forecasted period. Major companies in the maleic anhydride market are working to launch new products and solutions by modestly reducing R&D budgets and looking for investments. Additionally, malic acid has shown promise in treating patients with fibromyalgia, and the therapeutic application has thereby attracted sizable R&D investments from several pharmaceutical companies.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Maleic Anhydride Market Characteristics
3. Maleic Anhydride Market Trends And Strategies
4. Maleic Anhydride Market - Macro Economic Scenario
5. Maleic Anhydride Market Size And Growth
…..
27. Maleic Anhydride Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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