Maleic Anhydride demand in India grew at a CAGR of around 4.93% during 2016-2019 and is expected to achieve a healthy growth rate during the forecast period. Growing infrastructure and construction activities in India are expected to propel the demand for Maleic Anhydride in coming years. Furthermore, Maleic Anhydride demand is witnessing surge due its use as an additive in lubricant manufacturing. Moreover, Maleic Anhydride is used to produce Copolymers, Malic Acid, Succinic Acid and Fumaric Acid. Increasing demand of Malic Acid in food and beverage industry as a flavoring agent and in pharmaceutical industry as an ingredient raw material are major factors propelling the demand of Maleic Anhydride during the forecast years. In India, Maleic Anhydride is produced by Thirumalai Chemicals Ltd, IG Petrochemicals Limited. Other players operating in India Maleic Anhydride market include Huntsman International LLC, LANXESS, etc. India is one of the major importers of Maleic Anhydride. During FY2020, in India, the import was more than 50 thousand tonnes, which is almost 32 percent higher compared to import in FY2019. In coming years, the demand is anticipated to increase, which will lead to surge in its import, thereby posing a greater market opportunity for domestic players. To meet the demands, domestic players should focus on revamping their existing capacity or they should focus on setting up of green field projects.
Maleic Anhydride has application in Unsaturated Polymer Resin, Coatings, Lubricant, Plastic Additives & Others. In India, West Region followed by South has maximum demand for maleic anhydride. Government Initiatives like Swachh Bharat Abhiyaan are expected to increase the demand of maleic anhydride in Surfactants and Water Treatment Chemicals Industries.
However, sudden outbreak of novel coronavirus hard hit the country’s Maleic Anhydride sector as several Indian ports had to declare force majeure in compliance with the government’s lockdown measure in country’s battle against COVID-19. The demand of Maleic Anhydride is expected to stabilize by Q1 2022.
Years Considered for this Report:
Historical Years: 2015– 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
Objective of the Study:
•The primary objective of the study was to evaluate and forecast Maleic Anhydride production, demand, inventory, and demand – supply gap in India.
•To categorize demand for Maleic Anhydride based on end use, sales channel and region.
•To study trade dynamics and company share in India Maleic Anhydride market.
•To identify major customers of Maleic Anhydride in India.
•To evaluate and forecast Maleic Anhydride pricing in India.
•To identify and profile major companies operating in India Maleic Anhydride market.
•To identify major developments, deals and expansion plans in India Maleic Anhydride market.
Currently there are two manufacturers of Maleic Anhydride in India that are Thirumalai Chemicals and IG Petrochemicals. The major international players are Huntsman Corporation, INEOS, Lanxess etc.
Import of Maleic Anhydride declined by almost 20 per cent in FY 2020 and Maleic Anhydride prices were assessed at USD XXX per MT on bulk contract basis. 0
To extract data for India Maleic Anhydride market, primary research surveys were conducted with manufacturers, suppliers, distributors, wholesalers and end users of Maleic Anhydride. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Maleic Anhydride market over the coming years.
To extract data for India Maleic Anhydride market, primary research surveys were conducted with Maleic Anhydride manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Maleic Anhydride market over the coming years.
ChemAnalyst calculated Maleic Anhydride demand in India by analyzing the historical data and demand forecast was carried out considering the end use industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
•Maleic Anhydride manufacturers and other stakeholders
•Organizations, forums and alliances related to Maleic Anhydride distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Maleic Anhydride manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the India Maleic Anhydride market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by End Use
Unsaturated Polyester resins, Copolymers, Lubricating Oil additives, Alkynyl succinic anhydride, Maleic Acid and Others
Market, by Sales Channel
Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region
North, South, East, West
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