Global Maleic Anhydride Market Segmented by Application, Industry and Geography (2015-2020)
The global maleic anhydride market is expected to grow at a healthy pace of 6.6%, from USD 4.72 million to USD 6.5 million metric tons, during the forecast period. The total market worth was estimated to be USD XX.XX billion in 2015. With 56% of the global share, the Asia-Pacific is the largest market for maleic anhydride. 80% of production capacity and 52% of consumption of maleic anhydride in this region is derived from China. The second largest market is Europe followed closely by North America.
Maleic anhydride based copolymers enable the use of more sustainable raw materials, binding wood fibers into plastic, corrosion inhibitors and protective coatings for wire and water repellants in screens. Through conversion to fumaric and malic acids, maleic anhydride is a vital component of gelling agents, flavor enhancers and food preservatives. It is also essential in the production of elastane fibers used in the production of spandex, artificial sweeteners, paper-sizing, water treatments, and hardeners for epoxy curing, hairsprays, pharmaceuticals, and agricultural chemicals.
Over half of the global maleic anhydride produced is used in the manufacture of unsaturated polyester resins which in turn are used in the production of sheet molding compounds, bulk molding compounds, fiberglass reinforced plastics that are used in a diverse range of consumer products including boats, automobiles, buildings, piping, and electrical goods.
Owing to the rising importance of recyclability, biodegradability and the use of more sustainable chemicals, bio-based alternatives to maleic anhydride and more environment friendly methods of production are expected to increase in the near future.
Market Dynamics of the Global Maleic Anhydride Market:
High growth rate of polyester resin industry Increasing demand from industries in emerging economies Increasing diversity in applications and niche products Constraints:
Dependence of market on construction and polymer industry and GDP growth Rise of bio based alternative chemicals Various regulatory constraints for different markets The polyester resin market, with a CAGR of 6%, is also helping maleic anhydride application and its market growth in this category. Some other applications of maleic anhydride are in the production of maleic anhydride based copolymers, lubricant oil additives, alkyl succinic anhydrides, phthalic anhydride, maleic acid, fumaric acid and various agricultural chemicals.
The report also segments the market on the basis of geography in to regions to study their market size, forecast and CAGR, the regions are: Asia-Pacific, North America, Europe, and the Rest of the World. The report further gives insights into the products & services, financials and recent developments of the various companies working in this field. Some of the major players in this industry are:
Ashland Inc. BASF AG Changzhou Yabang Chemical Co Ltd DuPont Huntsman Lanxess Nippon Shokubai Co. Ltd. Sasol-Huntsman GmbH & Co. KG Key Deliverables in the Study
Analysis for the global maleic anhydride market, with region specific assessments and competition analysis on a global and regional scale. Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the global maleic anhydride market on both global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
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