Global Maleic Anhydride Sales Market Report 2023

Maleic Anhydride Market

Due to the COVID-19 pandemic, the global Maleic Anhydride market size is estimated to be worth US$ 3145.3 million in 2022 and is forecast to a readjusted size of US$ 5389 million by 2029 with a CAGR of 7.9% during the forecast period 2023-2029. Demand for 1,4-Butanediol and Unsaturated Polyester resin (UPR) is rising (BDO). This factor is expected to increase the Maleic Anhydride market.  

The synthesis of a variety of industrial chemicals, including fumaric acid, alkenyl succinic anhydrides, lubricating oil additives, fumaric acid, and malic or maleic acid, is increasingly using maleic anhydride. Furthermore, The growing use of maleic anhydride in the automotive sector, together with rapid expansion in the wind energy and construction sectors, is expected to fuel the market growth during the forecast period.

Maleic Anhydride Market Trends

The desire for lighter and stronger fiberglass composites is being driven by the automotive and marine sectors' requirement for materials that are more fuel-efficient and lighter. Consequently, it is anticipated that the Maleic Anhydride market would be driven by the rise in demand for lighter and stronger fiberglass. This is due to the fact that unsaturated polyester resin (UPR), which is used as the main raw material in the production of lighter and stronger fiberglass, is made utilizing maleic anhydride as a crucial raw element. 

Also, as the coatings and polymer industries expand, there is a rising need for 1,4 BDO and UPR. The maleic anhydride market is driven by the requirement for these two ingredients on a wide scale for the manufacture of coatings and polymers.

The expansion of the building and construction sector as a result of the expanding global population and lifestyle changes brought about by urbanization may also help the growth of the global market for unsaturated polyester resins. This is therefore anticipated to fuel expansion, which might pull up demand for maleic anhydride.

Maleic Anhydride Market Share

Unsaturated polymer resins are predicted to be the most profitable sector over the projected period based on application. These resins are used in a range of industries, including electrical, automotive, marine, and construction, due to their affordability, great performance, and environmental friendliness.

The market for maleic anhydride will be dominated by APAC throughout the anticipated time period. This is a result of the area's rising income levels, rapid industry, and rapid urbanization. APAC is anticipated to increase at the quickest rate during the timeframe of the prediction.

The largest producer of maleic anhydride, with a capacity market share of roughly 57%, is China. With a 14% capacity market share, the United States overtakes China as the second-largest country. 

Huntsman, Lanxess, Polynt, Changhzou Yabang and so on are the major players of maleic anhydride for the time being.

By Type

• Solid Maleic Anhydride
• Molten Maleic Anhydride

By Application

• Unsaturated Polyester Resin
• 1,4-butanediol (BDO)
• Other

By Region

• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Other Regions

By Company

• Huntsman Corporation
• Sasol-Huntsman
• Ashland
• Polynt
• LANXESS
• Thirumalai Chemicals Ltd.
• Flint Hills Resources
• BASF
• YONGSAN CHEMICALS,INC
• DSM
• Mitsubishi Chemical
• NIPPON SHOKUBAI
• Elekeiroz SA
• Bartek Ingredients
• Korea PTG
• CEPSA
• MOL Group
• Mitsui Chemicals
• Changzhou Yabang Chemical
• Tianjin Bohua Zhonghe Chemical
• Qiaoyou Chemical
• Zibo Qixing Tengda Chemical
• Zhejiang Jiangshan Chemical
• Hongxin Chemical
• Shengyuan Group
• Jiangyin Shunfei Fine chemical
• Jiangsu Zhongteng Chemical
• Huanghua Hongcheng Business
• Shanxi Hengqiang Chemical
• Changzhou Shuguang Chemical