Global Maleic Anhydride Market Report and Forecast 2024-2032

Global Maleic Anhydride Market Outlook

The global maleic anhydride market attained a value of about USD 3.39 billion in 2023. The market is further expected to grow at a CAGR of 4.9% during the forecast period of 2024-2032 to reach approximately USD 5.24 billion by 2032.

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Robust Demand for Unsaturated Polyester Resins (UPR) from Construction and Automobile Sector to Augment Market Growth

The global market for maleic anhydride is being driven by the robust production of unsaturated polyester resins (UPR) due to rising demand from the construction and automotive sectors. Owing to cost-effectiveness, high-performance, and eco-friendly characteristics associated with UPR, the market is witnessing growth from its applications in various end-use sectors. With a rise in disposable incomes owing to growth in the working population, the demand for automobiles is increasing.

The UPR is used as a lubricant in automobiles; therefore, the rising demand for automobiles is augmenting the market growth for UPR. Additionally, favourable physical properties like lightweight, high-tensile strength, anti-corrosive properties are leveraging the application of UPRs in lightweight automobile manufacturing. In addition, the application of UPR gives a smooth surface to the vehicles, provides excellent fixing characteristics for the paint, thereby increasing the durability of the applied coat. Furthermore, UPRs are also applied in the production of bumpers, doors, roofs, and interiors of the vehicles, thereby providing impetus to market growth.

Moreover, rapid development in construction projects owing to industrialisation in emerging economies like India and China is boosting the demand for UPR from the Asia Pacific region, further contributing to the overall market for maleic anhydride. Significant deployment of UPR in manufacturing high-quality bathroom fittings for the anti-corrosive properties of UPR is bolstering the market growth. In addition, due to their stable structures, UPRs display good mechanical properties, and excellent thermal stability making them ideal for composite building material, consequently augmenting the market growth of maleic anhydride.

Maleic Anhydride: Market Segmentation

Maleic anhydride is an organic chemical intermediate that appears as colourless, crystalline needles, flakes, pellets, rods, or lumps and used to manufacture various agricultural chemicals, and unsaturated polyester resins (UPR) in automobiles, electrical appliances, and boats, among others.

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The market, on the basis of product type, can be divided into:

• Unsaturated Polyester Resin
• BDO (Butanediol)
• Lubricant Additives
• Maleic Anhydride Copolymers
• Malic Acid
• Furmaric Acid
• Alkyl Succinic Anhydrides
• Surfactants and Plasticisers
• Others

Based on end use industry, the market can be segmented into:

• Construction
• Automobile
• Food and Beverage
• Oil Products
• Electronics
• Personal Care
• Pharmaceuticals
• Agriculture

The EMR report looks into the regional markets of maleic anhydride like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

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Rising Applications of Maleic Anhydride in Personal Care Products to Augment the Market Growth

Due to factors, such as innovations in personal care products and inflating consumer incomes, the market players are deploying maleic anhydride and its derivatives as significant ingredients in the cosmetic products, which is driving the overall market growth of maleic anhydride globally. Maleic anhydride is used in a variety of personal care products. In hair-care applications, copolymers containing maleic anhydride are widely found in hair sprays and gel for hair fixing and styling, making the hair resistant to high humidity. In addition, maleic anhydride components act as rheology modifiers to sustain the texture of skin care products, providing better texture and ease in application. Furthermore, owing to the rising market demand for sustainable personal care products, the growth of the industry can be attributed to its excellent environment-friendly properties, as the chemical is derived from biomass. Hence, due to the favourable properties of maleic anhydride, it is widely deployed in personal care products, which is significantly contributing to the industry growth.

Key Industry Players in the Global Maleic Anhydride Market

The report presents a detailed analysis of the following key players in the global maleic anhydride market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.

• Huntsman International LLC
• Shandong Hongxin Chemical Co. Ltd
• Helm AG
• Mitsubishi Chemical Corporation
• Ningbo Jiangning Chemical Co. Ltd
• Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

Key Highlights of the Report