Global Maleic Anhydride Market Size, Share, Trends, Growth 2032

Global Maleic Anhydride Market Insights

According to Zion Market Research, the Global Maleic Anhydride Market was worth USD 2.96 Billion in 2023. The market is forecast to reach USD 5.19 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Global Maleic Anhydride Market industry over the next decade.

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Maleic Anhydride Market: Overview

Maleic anhydride is the organic compound and is produced in large proportion. Moreover, it is colorless having acrid color and is manufactured on large-scale in chemical industry for utilization in polymers & coatings. The product is derived from raw materials including n-butane and benzene. The compound finds a slew of applications in construction, automotive, turbine, and aviation industries due to its lightweight feature and strong composite ingredients. Moreover, it is also utilized in manufacture of gamma butyrolactone, 1, 4 – butanediol as well as production of tetrahydrofuran chemicals.

Maleic anhydride Market Growth Drivers

Rise in the health consciousness and growing necessity for improving the fitness levels of the athletes is slated to define the growth of maleic anhydride market over the estimated timeframe. In addition to this, the compound has helped in enhancing the cloth elasticity, reducing mass, and increasing durability. Apparently, it is the key substance that is used for producing sportswear. Apart from this, maleic anhydride finds its use as dispersant in crank oil as well as rust inhibitor in gasoline.

Furthermore, maleic anhydride offers high protection to engine from corrosion, scaling, and damage due to friction between fuel and metal of engine. Additionally, the compound enhances fuel efficacy and minimizes hazardous chemical emissions. All these aforementioned aspects will steer the expansion of maleic anhydride industry over the ensuing years.

Moreover, food sector makes use of maleic acid – an extraction of maleic anhydride- in artificial sweeteners as well as for improving the food flavor. This will further boost the market trends. Maleic anhydride is utilized for treating water detergents, fungicides, insecticides, copolymers, and pharmaceuticals. Furthermore, the chemical is also used in personal care & cosmetic items including floor polishes, hair sprays, and adhesives. All these aforementioned factors will steer the business landscape. However, the exposure of human beings to the compound can result in infection of respiratory tract, skin, eyes, and mucosa, thereby posing a threat to the growth of maleic anhydride market.

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Global Maleic Anhydride Market: Report Scope

North American Market To Record Optimum Growth Over 2024-2032

The growth of the maleic anhydride industry in North America over the assessment timeframe is owing to surge in the industrialization in the developed nations like Canada and the U.S. In addition to this, thriving oil & gas sector in North America will further contribute towards the overall industry size over the assessment period. Escalating concerns pertaining to toxic emissions and stringent compliances for boosting the use of fuel additive in fuels to reduce carbon emission will steer the industry growth in the region.

Global Maleic Anhydride Market: Competitive Players

Key players profiled in the report include

• Mitsubishi Chemicals
• Huntsman
• Bluestar Harbing Petrolchemicals
• Lanxess
• Nippon Shokubai
• Changzhou Yabang
• Flint Hills
• Polynt
• Bartek
• MOL Hungarian
• Sasol
• Thirumalai
• Zhejiang Jianghshan Chemicals

The global maleic anhydride market is segmented as follows:

By Raw Material

• N-Butane
• Benzene

By Application

• Unsaturated polyester resin (UPR)
• Copolymers
• Lubricant Additives
• 1-4, Butanediol (BDO)
• Alkenyl succinic anhydrides
• Malic acid
• Fumaric acid
• Others

By End-User

• Construction
• Automotive
• Food & beverage
• Textile
• Pharmaceuticals
• Personal Care
• Agriculture
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa