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Research Nester's recent market research analysis on“ Maleic Anhydride Market : Global Demand Analysis & Opportunity Outlook 2035 ” delivers a detailed competitors analysis and a detailed overview of the global maleic anhydride market in terms of market segmentation by type, end user, and by region.
Expanding demand from the construction industry to Promote Global Market Share of Maleic Anhydride
Maleic anhydride is used in the production of unsaturated polyester resins, which are widely used in the construction industry for various applications like pipes, tanks, and building materials. Maleic Anhydride is utilized in the production of automotive coatings, adhesives, and sealants, which are in high demand due to the growing automotive industry. According to the International Organization of Motor Vehicle Manufacturers (OICA), global motor vehicle production reached approximately 92 million units in 2020, indicating a steady demand for automotive-related chemicals. Maleic Anhydride is used in the production of various consumer goods like packaging materials, toys, and household items, which are in constant demand.
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Some of the major growth factors and challenges that are associated with the growth of the global maleic anhydride market are:
Growth Drivers:
Increasing demand for consumer goods Growing automotive production
Challenges:
The chemical industry, including the production of Maleic Anhydride, is subject to strict environmental regulations. Compliance with environmental standards can result in additional costs and may require investments in pollution control and waste management. The Maleic Anhydride market is competitive, with several global and regional players vying for market share. Intense competition can lead to pricing pressures and may require companies to differentiate their products and services to maintain a competitive edge.
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The solid segment is to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. Solid Maleic Anhydride can be used in different types of reactors and processes, making it a versatile option for chemical manufacturers. Solid Maleic Anhydride is often more cost-effective than molten Maleic Anhydride, contributing to its popularity among end-users. Solid Maleic Anhydride finds applications in various industries, including unsaturated polyester resin production, additives and copolymers, agricultural chemicals, and lubricant components. According to industry reports and studies, the global unsaturated polyester resin sales was valued at over USD 12 billion in 2020, reflecting the significant demand for solid maleic anhydride in this application.
By region, the Europe maleic anhydride market is to generate a notable revenue by the end of 2035. Europe is a significant exporter of various chemical products, including Maleic Anhydride and its derivatives. Export opportunities contribute to the growth of the Maleic Anhydride market in the region. Government support for industrial development, innovation, and sustainability initiatives can create a favorable environment for the growth of the Maleic Anhydride market in Europe.
This report also provides the existing competitive scenario of some of the key players of the global maleic anhydride market which includes company profiling of Huntsman Corporation, Ashland Global Holdings Inc., Lanxess AG, Mitsubishi Chemical Corporation, NIPPON SHOKUBAI CO., LTD., Bartek Ingredients Inc.,
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