Maleic Anhydride Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, Application, Distribution Channel, Regional Demand, 2015-2030

[Online Quarterly Update]The Maleic Anhydride market witnessed a demand of 2.4 million tons in 2020 and is anticipated to grow at a healthy CAGR of 4.5% through the forecast period 2030. Maleic Anhydride is a solid, colorless or white colored, highly reactive organic compound, having a very solid strong and bitter smell. Commercially, Maleic Anhydride is produced by the vapor phase oxidation of n-butane or benzene at a very high temperature (400-430oC). In this method, the methyl groups get converted into carboxylate and dehydrogenates. After dissolving in water, Maleic Anhydride forms maleic acid. It is easily soluble in ethanol, acetone, and dioxane while, partially soluble in benzene, chloroform, and toluene. Maleic Anhydride is used prominently for the production of Unsaturated Polyester Resin (UPR) which is further used in many industrial applications such as in the manufacturing of high-performance components used in transportation and marine industry, fiber reinforced plastics and filled plastic products like sanitary ware, pipes, tanks, gratings etc. The growing Building and Construction sector along with Automotive is going to drive the demand for Maleic anhydride in the forecast period. 

 

Additionally, Maleic Anhydride is also used as a key ingredient in the production of 1:4 butanediol and tetrahydrophthalic anhydrides (curing agents), Paints and resins, Plasticizers and other copolymers. 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. Hence, Maleic Anhydride is a versatile chemical that is used in almost all the chemical industries and its wide range applications are expected to boost its market growth in the upcoming years.

 

The major end use industries are Automotive, Building and Construction, Food and Beverage, Agriculture, Electronics, Personal Care, Pharmaceutical and Others. The boom in Food & Beverages and Automobile industries is likely to fuel the demand for Maleic Anhydride in the forecast period. However, the key raw materials used for producing Maleic Anhydride are Benzene and n-Butane (Petrochemical derivatives), hence, the volatility in the prices of Crude oil will directly influence the prices of Maleic Anhydride and its derivatives, which may hamper its market growth in the forecast period.

 

In first half of 2020, due to the spread of COVID-19 across the globe, major economies had imposed nationwide lockdowns which impacted most of the industries due to slowdown in their operational activities coupled with the trade restrictions and disturbance in the supply and demand chain. There was a decline in the demand of Maleic Anhydride due to the drop in the production and sales of Automobiles and slowdown in the infrastructural activities. Though there was a surge in the Maleic Anhydride demand from the other end use industries like Food & Beverages, Agrochemicals, Surfactants and Pharmaceuticals amid pandemics. However, since the end of 2020, an improvement is witnessed in the demand of Maleic Anhydride as all the industries start operating their manufacturing units at maximum efficiencies coupled with the strong recovery in the automotive and construction sectors and is anticipated to grow at a significant rate in the forecast period.

 

Region wise, Asia Pacific holds the major demand share of the Maleic Anhydride market 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. Moreover, a strong demand for Maleic Anhydride from emerging economies like China, India and Japan is likely to propel the market growth of Maleic Anhydride. Additionally, China is the largest producer of Electronics and among the leading producer of Automobiles which is also likely to drive the market for Maleic Anhydride over the forecast period. 

 

The leading players of Maleic Anhydride market are Huntsman Corporation LLC., Polynt, LANXESS AG, HELM AG, Mitsubishi Chemical Corporation, Thirumalai Chemicals Ltd., Nippon Shokubai Co. Ltd., MOL Hungarian Oil & Gas Plc., Royal DSM N.V., and Others.

 

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 the Maleic Anhydride capacity, production, demand, inventory, and demand–supply gap globally. 

• To categorize Maleic Anhydride demand based on End Use, Product Type, Region, and Distribution channel

• To identify major customers of Maleic Anhydride globally.

• To evaluate and forecast Maleic Anhydride pricing globally.

• To identify and profile major companies operating globally Maleic Anhydride market.

• To identify major news, deals and expansion plans globally Maleic Anhydride market.