Dublin, March 13, 2023 (GLOBE NEWSWIRE) -- The "Global Maleic Anhydride Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032" database has been added to ResearchAndMarkets.com's offering.
The global Maleic Anhydride market has grown remarkably to reach approximately 2200 thousand tonnes in 2021 and is anticipated to grow at a CAGR of 4.76% during the forecast period. The growing Building and Construction sector, along with Automotive, is going to drive the demand for Maleic Anhydride in the forecast period and reach approximately 3500 thousand tonnes by 2032.
Recently, Wanhua Chemicals Group Co., Ltd., one of the giants of chemicals based in China, has signed a contract to CONSER S.p.A. for one of the biggest Maleic Anhydride plants in the world. This plant will hold a production capacity of roughly 200 thousand tonnes annually.
Maleic Anhydride is a versatile chemical that is used in almost all chemical industries, and its wide range of applications is expected to boost its market growth in the upcoming years. Maleic Anhydride also finds application as a precursor or additive in lubricants, food additives (fumaric acid, succinic acid & malic acid), surfactants (water treatment detergents), agrochemicals (Insecticides and pesticides), pharmaceuticals, paper sizing, hairsprays, petroleum additives, and artificial sweeteners.
The primary driver of the Maleic Anhydride global market prominently the production of Unsaturated Polyester Resin (UPR). UPR is further used in many industrial applications, such as in the manufacturing of high-performance components used in the transportation and marine industry, fiber-reinforced plastics, and filled-plastic products like pipes, tanks, gratings, cladding, drums, and sanitary ware.
The automotive industries also utilize them for making parts such as sealing and side panels. In 2021, approximately 50% of global Maleic Anhydride was utilized by the Unsaturated polyester resins sector, and it is anticipated to expand further in the forecast period.
Based on demand across the globe, the Asia Pacific is reported to be the biggest consumer of the Maleic Anhydride market. The demand for maleic Anhydride in the APAC region is anticipated to rise owing to its usage for creating bulk molding compounds and fiberglass reinforced plastics.
Owing to expanding Food and Beverage, Automotive, and construction sectors in the region coupled with the rapid industrialization, growing population, and a huge consumer base in the region, the demand for the Maleic Anhydride market will most likely expand in the forecast period. Europe and North America stand next in the line as prominent consumers of Maleic Anhydride.
Based on end-uses, the global Maleic Anhydride market is segregated into Unsaturated Polyester Resin, 1,4-butandiol, Fumaric Acid, Lube Oil Additives, and Others. Unsaturated Polyester Resin is dominating the global Maleic Anhydride market.
However, 1,4-butandiol is also a prominent consumer of Maleic Anhydride, which is employed as a solvent in various fibers, spandex, elastomers, and films. The demand for Maleic Anhydride by the Lube Oil Additives industry also contributes to the market expansion.
Major players in the production of Global Maleic Anhydride are
- Qixiang tengda chemical
- Huntsman Corporation
- BASF
- Taiyuan Qiaoyou Chemical Industrial
- Shanxi Qiaoyou Chemical Co., Ltd
- Sasol-Huntsman GmbH & Co.
- Lanxess,
- Ningbo Jiangning Chemical Co. Ltd.
Years considered for this report:
- Historical Period: 2015 - 2021
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2032
Key Topics Covered:
1. Capacity By Company
- On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Maleic Anhydride.
2. Capacity By Location
- To better understand the regional supply of Maleic Anhydride by analyzing its manufacturers' location-based capacity.
3. Production By Company
- Study the historical annual production of Maleic Anhydride by the leading players and forecast how it will grow in the coming years.
4. Demand by End- Use
- Discover which end-user industry (Unsaturated Polyester Resin, 1,4-butandiol, Fumaric Acid, Lube Oil Additives, and Others) are creating a market and the forecast for the growth of the Maleic Anhydride market.
5. Demand by Region
- Analyzing the change in demand of Maleic Anhydride in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
6. Demand by Sales Channel (Direct and Indirect)
- Multiple channels are used to sell Maleic Anhydride. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
7. Demand-Supply Gap
- Determine the supply-demand gap to gain information about the trade surplus or deficiency of Maleic Anhydride.
8. Company Share
- Figure out what proportion of the market share of Maleic Anhydride is currently held by leading players across the globe.
For more information about this database visit https://www.researchandmarkets.com/r/i8gaea
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