Maleic anhydride is an organic compound with the formula C2H2(CO)2O. Maleic anhydride is a colorless white solid compound with a pungent odor. It is used in personal care products, food industry, pharmaceuticals, insecticides and fungicides, and other copolymers.
Rising adoption of maleic anhydride based unsaturated polyester and 1,4-butanediol from various industries such as textiles, automobile, and infrastructure, is a major factor driving growth of the maleic anhydride market over the forecast period. However, fluctuating price of raw materials may hamper demand and restrain growth of the target market.
The global maleic anhydride market has been segmented on the basis of raw material, application, and region. On the basis of the raw material, the target market is segmented into N-butane and benzene. The N-butane segment is estimated to witness the highest growth in the target market during the forecast period. On the basis of application, the target market is segmented into unsaturated polyester (UPR), 1,4-butanediol (BDO), additives, and copolymers. The unsaturated polyester segment is projected to witness highest growth in the target market during the forecast period.
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On the basis of region, the global Maleic Anhydride market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market accounted for the highest share in terms of revenue and is expected to dominate the maleic anhydride market over the forecast period, owing to increasing adoption of bio-based polymers in the region. The market in North America is projected to register a significant growth in terms of revenue over the forecast period. The Europe maleic anhydride market is estimated to witness a moderate share in terms of revenue in coming years.
Key players operating in the global maleic anhydride market include Huntsman International LLC, Ashland Inc., LANXESS AG, Mitsubishi Chemical Corporation, Merck KGaA, Flint Hills Resources, Polynt SpA, NIPPON SHOKUBAI CO., LTD., Bartek Ingredients Inc., and Royal DSM N.V.