About Maleic Anhydride
Maleic anhydride is flammable, colorless, and has an acrid odor. It is produced from the oxidation of n-butane and benzene. The process of conversion of n-butane and benzene is through fixed bed, fluidized bed, and moving bed or catalyst bed at high temperatures. Maleic anhydride is used in products ranging from resin materials to pesticide sprays. Maleic anhydride is an important intermediate in the fine chemical industry, particularly in the manufacture of lubricating oil and agricultural chemicals additives. It is also used as a component of various copolymers in the engineering polymers sector. The fundamental process of maleic anhydride production includes feed preparation, oxidation reaction, product separation, product purification, and energy recovery.
Technavio’s analysts forecast the global maleic anhydride market to grow at a CAGR of 6.62% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global maleic anhydride market for 2017-2021. To calculate the market size, the report considers the sales generated for maleic anhydride for various applications have been taken into consideration.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Maleic Anhydride Market 2017-2021
Technavio recognizes the following companies as the key players in the global maleic anhydride market: Huntsman International, LANXESS, Ashland, Polynt, and Flint Hills Resources.
Other Prominent Vendors in the market are: Bartek Ingredients, Changzhou Yabang chemicals, China National Bluestar (Group), ESIM Chemicals, Mitsubishi Chemical Holdings, Ningbo Jiangning Chemical, NIPPON SHOKUBAI, Thirumalai Chemicals, and YONGSAN CHEMICALS.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Production of alkyd resin using maleic anhydride. Anti-corrosive paints are dispersions consisting two stages, namely the liquid stage and the solid stage. The alkyd resin modified with long oil used for anti-corrosive paints are manufactured with the alcoholysis method. However, due to the lack of linseed oil, phthalic anhydride is substituted with maleic anhydride to produce alkyd resin. The use of maleic anhydride as a partial replacement of phthalic anhydride improves the characteristics of the film of paint, such as its resistance and its strength against extreme atmosphere and corrosion.”
According to the report, one of the major drivers for this market is Diversified application for beneficial properties. Maleic anhydride has varied applications, such as unsaturated polyester resin, BDO, additives, and copolymers. The growth in the adoption of unsaturated polyester and BDO are fostering the growth of the global maleic anhydride market. The additive market is growing, owing to increase in lubricant and oil and agricultural markets, accelerating the global maleic anhydride market to grow. Maleic anhydride is used in many industries because of its properties, such as enhanced flexibility and resistance.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices. The rise in the prices of raw materials used in the manufacture of maleic anhydride may hamper the growth of the global maleic anhydride market. Raw materials, such as benzene, used for the production of maleic anhydride by manufacturers are often expensive. The rising cost of raw materials has also resulted in high operating costs for vendors. In addition, market competition limits the option to increase product prices to compensate for higher production costs.
Huntsman International, LANXESS, Ashland, Polynt, Flint Hills Resources, Bartek Ingredients, Changzhou Yabang chemicals, China National Bluestar (Group), ESIM Chemicals, Mitsubishi Chemical Holdings, Ningbo Jiangning Chemical, NIPPON SHOKUBAI, Thirumalai Chemicals, and YONGSAN CHEMICALS.
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