Global Maleic Anhydride Market size was valued at USD 3.39 billion in 2022 and is poised to grow from USD 3.56 billion in 2023 to USD 5.21 billion by 2031, growing at a CAGR of 4.9% during the forecast period (2024-2031).
Unsaturated polymer resins (UPR) are essential in the automotive sector for swiftly repairing damaged parts and enhancing the painting process of vehicles. The increasing incidence of traffic accidents is poised to boost the demand for UPR, consequently driving growth in the maleic anhydride market, a key ingredient in manufacturing UPR. Beyond automotive uses, maleic anhydride is also integral to construction, pharmaceuticals, and personal care industries. The rising focus on fuel efficiency and emission reductions further propels the need for maleic anhydride. The prices of its primary feedstocks, n-butane and benzene, are heavily influenced by fluctuations in crude oil and naphtha prices, highlighting the volatility and complexities within the maleic anhydride supply chain.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Maleic Anhydride market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Maleic Anhydride Market Segmental Analysis
Global Maleic Anhydride Market is segmented by raw material, application, end user industry and region. Based on raw material, the market is segmented into N-butane and benzene. Based on application, the market is segmented into unsaturated polyester resins (UPR) (fiberglass reinforced plastics, artificial marble, gel coats), 1,4-butanediol (BDO) (tetrahydrofuran (THF), polybutylene terephthalate (PBT), gamma-butyrolactone (GBL)), additives (lubricating oil additives, plasticizers), copolymers (styrene-maleic anhydride (SMA), ethylene-maleic anhydride (EMA)) and others (fumaric acid, malic acid). Based on end user, the market is segmented into automotive, construction, electronics, food & beverage, healthcare and personal care. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Maleic Anhydride Market
A significant driver of the global maleic anhydride market is the rapid growth of the automotive industry, which relies heavily on unsaturated polyester resins that incorporate this chemical. As vehicle production and consumer demand surge worldwide, the need for maleic anhydride is correspondingly increasing. The automotive sector is shifting towards lighter and more fuel-efficient materials, further bolstering the demand for resins made from maleic anhydride. This trend underscores a robust growth trajectory for the market, as manufacturers seek to enhance performance and sustainability in their vehicles, thereby ensuring continued expansion in the maleic anhydride industry.
Restraints in the Global Maleic Anhydride Market
The global maleic anhydride market faces significant challenges due to the volatility of raw material prices, primarily butane and benzene, both of which are petroleum-based. These materials' costs are highly susceptible to market fluctuations driven by global economic instability, supply chain disruptions, and geopolitical factors. Such instability can lead to unpredictable commodity pricing, directly impacting the production expenses for maleic anhydride manufacturers. Consequently, companies in this sector grapple with the difficulties of managing production budgets and ensuring profitability amid this price volatility. As a result, they are compelled to continuously adapt their production levels and pricing strategies to mitigate the adverse effects of raw material price changes.
Market Trends of the Global Maleic Anhydride Market
The Global Maleic Anhydride market is witnessing a significant shift towards bio-based alternatives, driven by increasing environmental awareness and the need for sustainable production methods. As companies align with sustainable development goals, bio-based maleic anhydride derived from renewable resources is emerging as a viable solution to reduce dependence on fossil fuels and mitigate environmental impacts associated with traditional production processes. This trend not only addresses ecological concerns but also opens new avenues for innovation and expansion within the market, as stakeholders seek to capitalize on the growing demand for sustainable chemical solutions across various industries, thereby reshaping the competitive landscape.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Driver & Opportunities
Restraints & Challenges
Porters Analysis & Impact
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Regulatory Landscape
Patent Analysis
Case Studies
Global Maleic Anhydride Market Size by Raw Material & CAGR (2024-2031)
Market Overview
N-Butane
Benzene
Global Maleic Anhydride Market Size by Application & CAGR (2024-2031)
Market Overview
Unsaturated Polyester Resins (UPR)
Fiberglass Reinforced Plastics
Artificial Marble
Gel Coats
1,4-Butanediol (BDO)
Tetrahydrofuran (THF)
Polybutylene Terephthalate (PBT)
Gamma-Butyrolactone (GBL)
Additives
Lubricating Oil Additives
Plasticizers
Copolymers
Styrene-Maleic Anhydride (SMA)
Ethylene-Maleic Anhydride (EMA)
Others
Fumaric Acid
Malic Acid
Global Maleic Anhydride Market Size by End User Industry & CAGR (2024-2031)
Market Overview
Automotive
Construction
Electronics
Food & Beverage
Healthcare
Personal Care
Global Maleic Anhydride Market Size & CAGR (2024-2031)
North America, (Raw Material, Application, End User Industry)
US
Canada
Europe, (Raw Material, Application, End User Industry)
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific, (Raw Material, Application, End User Industry)
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America, (Raw Material, Application, End User Industry)
Brazil
Rest of Latin America
Middle East & Africa, (Raw Material, Application, End User Industry)