The Maleic Anhydride Market is enjoying positive growth rate owing to itspercolation in coating and polymer industries. But its well-cemented footholdin the automotive sector is what makes it a gainer. The market is anticipated to achieve a 6.65% CAGR during the forecast period (2022-2030) to reach an impressive valuation of USD 5.50 billion from its previous valuation of USD 3.4 billion in 2022. The report on the same market published by Market Research Future (MRFR) further incorporates a detailed analysis of the drivers such as the production of 1,4-butanediol (BDO), unsaturated polyester resins (UPR) and lubricants to provide an accurate maleic anhydride market scenario.
However,the maleic anhydride market is facing a steep task of overcoming the threatsposed by government regulations and green alternatives. Maleic anhydride has side-effects which can have an adverse impact on health. Governments have issued regulations to curb the practice. But bio-based maleic anhydrides are awaiting green signal which can bring the maleic anhydride market back on its growth track.
Ashland Inc. (US),Bartek Ingredients Inc. (Canada), Bluestar Harbin Petrochemical Corp. (China),Huntsman Corporation (US), Lanxess (Germany), Marathon Petroleum Corp. (US), Fuso Chemical Co. (Japan), Mitsubishi Chemical Corporation (Japan), Nan Ya Plastics Co.(China), Changzhou Yabang Chemical Co. Ltd (China), Helm AG (Germany), Polynt Group (Italy), Ningbo Jiangning Chemical (China), Nippon Shokubai Co. Ltd (Japan), Thirumalai Chemicals Ltd (India), and others.
The Global MaleicAnhydride Market can be segmented by raw material, application, andend-user.
Byraw material, the maleic anhydride market can be segmented into n-Butane andBenzene. N-Butane has the maximum market share as per the details of 2017.
Basedon application, the maleic anhydride market includes unsaturated polyesterresin (UPR), copolymers, lubricant additives, alkenyl succinic anhydrides, malic acid, fumaric acid, and others. UPR, at present, is the market bellwether in terms of volume. But copolymers are about to record the fastest growth rate during the forecast period.
Basedon end-users, the maleic anhydride market comprises construction, automotive,food & beverages, textile, pharmaceuticals, personal care, agriculture, and others. Construction segment has the maximum market share, but the automotive segment is about to register the fastest growth rate.
Geographic analysis ofthe maleic anhydride market incorporates North America, Europe, Asia Pacific(APAC), Latin America (LATAM), and Middle East & Africa (MEA).
TheAPAC has the largest market share. The region is showing extraordinary growthrate in automotive and construction sectors which is squarely pushing the maleic anhydride market forward. Countries such as India, China, and Indonesia are making a substantial contribution to the regional maleic anhydride market growth.
Europealso has a substantial portion of the market. However, the region is expectingdampened speed owing to its slow growth in the construction sector and strict regulations regarding bio-sustainability imposed by governments that bog down the expected growth rate.
NorthAmerica is also experiencing sluggish pace owing to a slowdown in downstreamindustries. However, Latin America’s market is expanding as many of the North American companies are shifting their base to Brazil and Argentina.
The global maleicanhydride market is experiencing several transformations owing to the strategicstances taken by the market leaders. These strategies have merger, acquisition, collaboration, product launch, joint venture, and other methods to help companies stay afloat and market expand.
SMA 1550His a new type of styrene maleic anhydride (SMA) copolymers that isgrabbing attention as this type of resins can effectively disperse pigments and performs well as an ink transfer aid.
PolyntGroup inked a deal in 2017, with Reichhold and formed Polynt-Reichhold thatwould operate in the field concerning intermediates, coating, and composite resins, thermoset compounds, gel-coats, and niche specialties.
MarathonPetroleum Corp. is showing great interest in buying stakes in Ashland Inc.’sMarathon Ashland Petroleum LLC (MAP). This can make Marathon the sole owner of the MAP and one of the largest refiners in the U.S.
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