Global Maleic Anhydride Market

Maleic Anhydride Market Size, Share, Growth Analysis, By Raw Material, By Application, By End User Industry, By Region - Industry Forecast 2025-2032

Report ID: SQMIG15A2452 | Region: Global | Published Date: December, 2024
Pages: 173 | Tables: 97 | Figures: 75

Maleic Anhydride Market Insights

Maleic Anhydride Market size was valued at USD 4570.32 Million in 2023 and is poised to grow from USD 4762.27 Million in 2024 to USD 6351.67 Million by 2032, growing at a CAGR of 4.2% during the forecast period (2025-2032).

Unsaturated polymer resins are widely used as body fillers for rapid automotive replacement and repair of damaged automotive parts. Cysts are also used for automotive painting in the automotive industry. The use of UPR removes debris and smooths the vehicle. Furthermore, it also improves adhesion to the paint. UPR is commonly used for bumpers, doors, roof, and furniture to repair damage in the event of an accident. Thus, increasing traffic accident cases across the globe are expected to drive the demand for UPR, which in turn will drive the demand for maleic anhydride market growth.

Maleic anhydride is used in a variety of industries, including automotive, construction, pharmaceuticals, personal care & cosmetics, and more. The increasing demand for unsaturated polyester resins (UPR) in automotive is expected to drive the demand for maleic anhydride market growth. Furthermore, the use of additives to improve fuel efficiency and reduce emissions will increase the demand for maleic anhydride. N-butane and benzene are the main feedstocks for the synthesis of maleic anhydride. Worldwide, benzene and n-butane prices depend on crude oil and naphtha price movements. Crude oil fluctuations have been a major driver of significant changes in benzene prices. Crude oil prices and downstream demand greatly affect the maleic anhydride industry.

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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).

The maleic anhydride market is highly competitive, with global and regional players trying to gain market share through capacity expansion, product acquisition and technological advancement standards. Some of the key players in the maleic anhydride market are Huntsman Corporation, BASF SE, Lanxess AG, Polint-Reichhold Group, Mitsubishi Chemical Corp. These companies because of their strong manufacturing capabilities, their extensive distribution networks, and established customer relationships in various sectors, such as automotive, manufacturing and food additives. As market holders so large shareholders, BASF SE and Huntsman have a global footprint, enabling them to better serve many demanding areas. 'Huntsman Corporation ', 'LANXESS AG ', 'Ashland Global Holdings Inc. ', 'Polynt-Reichhold Group ', 'Mitsubishi Chemical Corporation ', 'Nippon Shokubai Co., Ltd. ', 'Zibo Qixiang Tengda Chemical Co., Ltd. ', 'Changzhou Yabang Chemical Co., Ltd. ', 'Yongsan Chemicals, Inc. ', 'Thirumalai Chemicals Ltd. ', 'Bartek Ingredients Inc. ', 'Flint Hills Resources, LLC ', 'Shanxi Qiaoyou Chemical Co., Ltd. ', 'Shengyuan Group Co., Ltd. ', 'Tianjin Bohai Chemical Industry Group Corporation'

Maleic anhydride is widely used in the production of unsaturated polyester resins, a key aspect in automotive packages. The worldwide enlargement of the automotive industry, pushed through elevated vehicle manufacturing and demand, significantly fuels the call for maleic anhydride. As automakers more and more adopt lighter, fuel-green materials, demand for resins derived from maleic anhydride stays excessive, consequently driving growth on this maleic anhydride market outlook.

Transition to bio-based maleic anhydride: The trend for bio-based maleic anhydride to solve environmental problems is emerging, Bio-based maleic anhydride obtained from renewable sources reduces reliability exposure to fossil fuels and environmental impacts of production e.g. Companies are aiming to meet sustainable development goals and bio-based options are gaining traction, creating new opportunities in the market.

Asia pacific is the dominant segment in the maleic anhydride market. Asia Pacific is now characterized by rapid technological development, a growing automobile industry, and significant manufacturing growth in key countries such as China, India, Japan and South Korea. The domestic automotive industry is a major user of maleic anhydride derivatives such as unsaturated polyester resin (UPR), adhesives and China has a well-established manufacturing base, which not only supports local demand but also contributes significantly to the global supply chain. Ample raw materials, low labour costs and good government policies sustain Asia Pacific dominance in the market.

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Global Maleic Anhydride Market

Report ID: SQMIG15A2452

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