20-Jan-2021 | Zion Market Research
As per the researchers at Zion Market Research, the valuation of the global maleic anhydride market in 2018 was at around USD 2.68 billion and is anticipated to attain a value of about USD 4.27 billion by 2025, growing at approx 6.6% CAGR during the forecast period. The prominent players in the global maleic anhydride market consist of Huntsman, Lanxess, Nippon Shokubai, Bartek, Flint Hills, Polynt, MOL Hungarian, Sasol, Thirumalai, Changzhou Yabang, Mitsubishi Chemicals, Bluestar Harbing Petrolchemicals, and Zhejiang Jianghshan Chemicals.
Rising Applications In End-Use Industries Likely To Propel The Growth Of The Global Market
The altering inclination to stronger, lighter, and fiberglass composite materials in end-use industries like aerospace, automotive, construction, and turbine industries have elevated progressively during the past few years. This ultimately is resulting in a surge in need for unsaturated polyester resins. Maleic anhydride is utilized as a feedstock within the production of unsaturated polyester resins. Further, the increasing disposable income together with rising infiltration of spandex in sportswear, medical textiles, and compression stockings has lead to elevated stipulation for 1,4-butanediol. Thereby, it is projected to boost the maleic anhydride demand during the years to come. The rising expansion in the construction industry all across the world is also anticipated to fuel the expansion of the unsaturated polyester resins during the forecast period. Nevertheless, usage of maleic anhydride along with bio-based feedstock polymers is anticipated to drive the expansion of the maleic anhydride market.
N-Butane, Based On Raw Material, To Garb Considerable Market Share In The Coming Period
Based on raw material, the global maleic anhydride market is bifurcated into benzene and n-butane. Among these, n-Butane is the most used raw material and grabs a considerable share within the global maleic anhydride market. This segmental expansion can be attributed to its lower process price along with higher productivity, less intricate process of production, lower risk, and it is less damaging to the environment.
North America Is Anticipated To Dominate The Global Market During The Forecast Period
North America is projected to dominate the global maleic anhydride market. In this region, construction is among the biggest end-use industries. A National Infrastructure Plan had implemented by the US to draw USD 590 billion within infrastructure spending during 2014–2018. Such positive programs are anticipated to boost the expenditure in the construction domain, thus driving the demand for maleic anhydride. Further, Asia Pacific is also expected to surface as the biggest manufacturer & consumer of maleic anhydride. The constructive initiatives by the government of China and India are projected to drive the maleic anhydride market growth in this region. Most of the stipulation is anticipated to come from the plasticizers and construction industries in this region.
Browse the full “Global Maleic Anhydride Market - By Application (1-4, Butanediol (BDO), Fumaric Acid, Unsaturated Polyester Resin (UPR), Lubricant Additives, Copolymers, Malic Acid, Alkenyl Succinic Anhydrides, And Others), By Raw Material (Benzene And N-Butane), By End-User (Agriculture, Automotive, Construction, Textile, Food & Beverage, Personal Care, Pharmaceuticals, And Others), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/maleic-anhydride-market
The global maleic anhydride market is segmented as follows:
By Raw Material
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