North America Maleic Anhydride Market Segmented by Application, Industry and Geography (2015-2020)
The North America maleic anhydride market is expected to grow at a rate of 5.9 %, from over USD 0.74 billion in 2015 to USD 0.99 billion during the forecast period. With 17% of the global market consumption share, North America is the third largest global market for maleic anhydride, after Asia-Pacific and Europe.
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.
Demand for maleic anhydride has generally grown at rates that slightly exceed GDP growth in corresponding countries. Given its dependence on the unsaturated polyester resin market, due to the influence from construction end markets, maleic anhydride demand can be cyclical depending on phases of industrial growth, government policies and economic fluctuations.
Market Dynamics of the North America 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 Besides being an intermediate in the production of significant chemicals, maleic anhydride is either directly or indirectly involved in wide range of industries including electronics, food, petroleum products, polymer industry, personal care products, pharmaceuticals and agricultural chemicals. 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.
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, malic acid, fumaric acid and various agricultural chemicals.
The regional market is segmented, to get insights into market size, forecast and CAGR, by country into the USA, Canada and Mexico. The report offers an understanding of the competitive landscape of the region by studying the products and services, financials and recent development in the market, some of the companies included in the report are:
Ashland Inc. BASF AG Changzhou Yabang Chemical Co Ltd Compania Espanola de Petroleos, S.A. DuPont Huntsman Nippon Shokubai Co. Ltd. Sasol-Huntsman GmbH & Co. KG Key Deliverables in the Study:
Analysis for the North America maleic anhydride market, with region specific assessments and competition analysis. 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 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 North America maleic anhydride market on a 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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