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Global Maleic Anhydride Market to Grow at a CAGR of 5% During 2021-2026, Aided by the Deployment of Maleic Anhydride in Various End Use Industries

According to a new report by EMR titled, ‘Global Maleic Anhydride Market Report and Forecast 2021-2026’, the market attained a value of about USD 2.93 billion in 2020. The industry is further expected to grow at a CAGR of 5% in the forecast period of 2021-2026 to reach a value of nearly USD 3.91 billion by 2026.

Maleic anhydride is an essential ingredient in the production of unsaturated polyester resins (UPR), and its growing demand from the construction and automobile sector is driving the market for maleic anhydride. In addition, the utilisation of maleic anhydride in various end-use industries like the cosmetic industry for hair and skin care products is boosting the market growth of maleic anhydride. Furthermore, maleic anhydride and its derivatives are commonly used in the food and beverage industry as artificial sweeteners and flavour enhancements. With growing market demand for packed food owing to the busy lifestyle, as a result of a surge in working populations in developed and developing countries,  the food and beverage industry is invigorating, subsequently enhancing the maleic anhydrate industry. Moreover, usage of maleic anhydride in the chemical industry for the production of detergents, water treating chemicals, and agricultural chemicals like insecticides and pesticides is aiding the market growth of the industry.

The healthy competition among the key players like Mitsubishi Chemical Corporation (TYO: 4188) and Huntsman International LLC is aiding the market growth. The latter company, Huntsman International LLC, offers top-quality maleic anhydrate to be used in various applications. The intermediate chemical product consists of raw materials like benzene or n-butane requiring critical handling. With expertise in the field, Huntsman International LLC offers maleic anhydride products in both solid (pastilles, briquettes, or flakes) and liquid forms. With years of experience in handling and storage of highly reactive maleic anhydride, the company has a large global supplier portfolio, which offers added value to its customers by reducing dependency on local or individual producers. In addition, the company offers different types of packaging based on customer needs. Thus, the expansion of market players in the global market for maleic anhydride is expected to augment the industry growth over the forecast period.

Market Analysis by Product Type, End Use Industry, and Region:

  • The market, based on product type, can be segmented into unsaturated polyester resin, BDO (butanediol), lubricant additives, maleic anhydride copolymers, malic acid, furmaric acid, alkyl succinic anhydrides, and surfactants and plasticisers, among others.
  • On the basis of end use industries, the market can be divided into construction, automobile, food and beverage, oil products, electronics, personal care, pharmaceuticals, and agriculture.
  • The major regional markets for maleic anhydride are North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The industry is being driven by the use of unsaturated polyester resins (UPR) in the automotive industry owing to its favourable properties like lightweight, high tensile strength, and anti-corrosive properties providing durability to the vehicle.
  • Deployment of UPR in construction activities like manufacturing high-quality bathroom fittings is augmenting the market growth of maleic anhydride.
  • The market is being propelled by the deployment of maleic anhydride and its derivatives in personal care products owing to its sustainable properties.
  • The application of maleic anhydride in the food and beverage industry as artificial sweeteners and flavour enhancements is invigorating the overall market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the maleic anhydride industry for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) markets for product types, end use industries, and regions of maleic anhydride. 
  • It assesses regional price trends for the (2106-2020) and (2021-2026) periods.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global maleic anhydride market are Huntsman International LLC, Shandong Hongxin Chemical Co. Ltd, Helm AG, Mitsubishi Chemical Corporation, and Ningbo Jiangning Chemical Co. Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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