Zion Market Research, the market research group announced the analysis report titled “Maleic Anhydride Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024“
Global Maleic Anhydride Market: Overview
Maleic anhydride is the organic compound which is the maleic acid’s acid anhydride. It is produced in large quantities for the coatings and polymers applications. Maleic anhydride is extracted from feedstock such as benzene and n-butane. N-butane is more environment-friendly in nature and holds low production cost as compared to benzene while, benzene is more toxic and constitutes high production cost. Maleic anhydride is used widely as there has been a change in the preference towards stronger and lighter fiberglass composite materials in construction, aerospace, automotive, and turbine industries. It is used in the production of gamma-butyrolactone, 1, 4-butanediol, and tetrahydrofuran.
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Global Maleic Anhydride Market: Growth Factors
Growing penetration of spandex in medical textiles, compression stockings, and sportswear coupled with the increasing disposable income are factors that are projected to surge the demand for 1, 4-butanediol which in turn will result in the rise in the demand of maleic anhydride. Favorable growth in the construction industry in developing countries is anticipated to foster the requirement for unsaturated polyester resins in the coming years. Unsaturated polyester resins attribute to encourage the market growth owing to its increasing use in heat-resistant tanks and pipes thus influencing the maleic anhydride market. Increasing popularity of using the maleic anhydride with the feedstock polymers that are bio-based is positively impacting the market. However, increasing concerns regarding depletion of crude oil and presence of alternatives such as succinic acid are restraining the growth of the market to some extent.
Global Maleic Anhydride Market: Segmentation
The segmentation of the global maleic anhydride market is done on the basis of end-use industry, application, and region. The end-use industry segment is divided into automotive, food & beverage, construction, pharmaceutical, textile, manufacturing, and others. Based on the application, the market is segregated into additives, unsaturated polyester resins, copolymers, 1, 4-butanediol, and others. Region-wise the market is diversified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Global Maleic Anhydride Market: Regional Analysis
North America and Western Europe are expected to have a moderate market growth for maleic anhydride in the near future. Increasing environmental concerns for greenhouse gas emission leads to the slow production of the 1, 4-butandiol and alkyd resins. Growth and development of the construction industry in developing countries will increase the demand of 1, 4-butandiol and alkyd resins, which will anticipate fueling the market growth in the future. The Middle East and Africa, Asia-Pacific, and Latin America regions are expected to witness growth in the coming years. Asia Pacific holds the largest market share for maleic anhydride across the world.
Global Maleic Anhydride Market: Competitive Players
Key market players in the global maleic anhydride market include maleic anhydride Polynt S.p.A, Nippon Shokubai Co., Ltd., Zhejiang Jiangshan Chemical Co., Ltd., Huntsman International LLC, Changzhou Yabang Chemical Co., Ltd., and Flint Hills Resources. Other influencing players include China National Bluestar (Group) Co., Ltd., Lanxess A.G., MOL Hungarian Oil & Gas Plc., Thirumalai Chemicals Ltd., and Bartek Ingredients Inc.
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Global Maleic Anhydride Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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