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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.
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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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