Press release
Global Maleic Anhydride Market to Reach $5.32 Billion by 2029, Growing at 0.0713581125045131% CAGR
The global upswing in automobile demand has fueled expansion in the maleic anhydride market. The automobile sector, an enterprise dealing in the manufacturing and sales of self-propelled vehicles like passenger cars, trucks, agricultural machinery, and other commercial transports, relies on unsaturated polyester resin (UPR) obtained from maleic anhydride for component construction, credited to its design flexibility, lightweight, and mechanical robustness. For instance, in March 2024, the European Automobile Manufacturers Association, an automobile manufacturers group based in Belgium, reported a remarkable recovery in the worldwide car market in 2023, with unit sales escalating nearly 10% to exceed 72 million. The surge was particularly noticeable in the European car market, with an increase of 18.6% compared to 2022. This upturn was driven by identical trends in the EU and Eastern Europe, with remarkable growth rates of 63.5% and 58.9% in Russia and Ukraine, respectively. This surge has subsequently stimulated the expansion of the maleic anhydride and its product market.
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What growth opportunities are expected to drive the maleic anhydride market's CAGR through 2034?
The market size for maleic anhydride has experienced a significant expansion in the last few years. The projected growth is from $3.75 billion in 2024, rising to $4.03 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.5%. The escalating growth in the past period was due to the proliferation of chemical manufacturing, production of polymers, development in construction and infrastructure, evolution in the automotive industry, and the demand for furniture and appliances.
We foresee robust expansion in the maleic anhydride market in the forthcoming years, with the market projected to reach $5.31 billion by 2029, expanding at a compound annual growth rate (CAGR) of 7.1%. Factors contributing towards this growth in the predicted period include environmental regulations, use in plasticizers and resins, the transportation sector, electronic appliances, and packaging industry. Key trends to observe during this forecast period are smart materials and composites, green infrastructure, breakthroughs in sustainable chemistry, bio-based maleic anhydride, and the application of advanced polymers.
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What are the emerging trends shaping the future of the maleic anhydride market?
A notable trend in the maleic anhydride markets is the rise in investments for research and development. Pharmaceutical giants are investing in examining the effectiveness of L-malic acid in dietary supplements. This follows a global rise in demand for ingredients that strengthen the heart and immune system. For example, the present and the tenth versions of the global outlook for the maleic anhydride market size up to 2028 predicts a fairly high growth rate during the projected years. Firms in the maleic anhydride sector are striving to launch innovative products by slightly trimming down their research and development expenditure and seeking more financial support. Moreover, malic acid has been found potentially beneficial in the treatment of fibromyalgia, triggering considerable research and development investments from diverse pharmaceutical establishments.
Which growth-oriented segments of the maleic anhydride market are leading the industry's development?
The maleic anhydride market covered in this report is segmented -
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
Subsegments
1) By Solid Maleic Anhydride: Crystalline Maleic Anhydride, Powdered Maleic Anhydride
2) By Molten Maleic Anhydride: Liquid Maleic Anhydride
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What regions are leading the charge in the maleic anhydride market?
Asia-Pacific was the largest region in the maleic anhydride market share in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the maleic anhydride market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the maleic anhydride market?
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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What Is Covered In The Maleic Anhydride Global Market Report?
•Market Size Forecast: Examine the maleic anhydride market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the maleic anhydride market for a structured understanding.
•Key Players Overview: Analyze major players in the maleic anhydride market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the maleic anhydride market.
•Segment Contributions: Evaluate how different segments drive overall growth in the maleic anhydride market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the maleic anhydride market.
•Industry Challenges: Identify potential risks and obstacles affecting the maleic anhydride market.
•Competitive Landscape: Review strategic developments in the maleic anhydride market, including expansions, agreements, and new product launches.
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