Global Maleic Anhydride Market 2019-2023
About this market
Growing demand resulting in rise in production of functional polymers to drive growth in the market. These functional polymers are used in filled, toughened, and blended compounds for applications such as adhesives, pipe coatings, and wires, and cables among others. Technavio’s analysts have predicted that the maleic anhydride market will register a CAGR of over 7% by 2023.
Increase in demand from developing countries
The growth of the maleic anhydride market can be attributed to the strong contributions from developing economies such as India, China, Brazil, Mexico, and Indonesia.
Stringent regulations and policies
Stringent policies laid by regulatory bodies such as USEPA and the EU’s registration, on the use of maleic anhydride will likely to dampen demand for this organic compound.
For the detailed list of factors that will drive and challenge the growth of the maleic anhydride market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Huntsman International and LANXESS the competitive environment is quite intense. Factors such as the growing demand resulting in rise in production of functional polymers and the rising demand from developing countries, will provide considerable growth opportunities to maleic anhydride manufactures. Ashland, Huntsman International, LANXESS, Mitsubishi Chemical Holdings, Polynt, and Zibo Qixiangtengda Chemical are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Maleic Anhydride Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing demand resulting in rise in production of functional polymers.”
According to the report, one of the major drivers for this market is the rising demand from developing countries.
Further, the report states that one of the major factors hindering the growth of this market is the stringent regulations and policies.
Mitsubishi Chemical Holdings
Zibo Qixiangtengda Chemical
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook