Maleic anhydride is expected to grow rapidly in the next four years. According to the Global maleic anhydride Market Outlook Analysis 2022, Forecast to 2027, the rapid growth of the automotive industry, construction industry and wind energy industry are the main drivers for the growth of the global maleic anhydride market. Based on the regression analysis model, the market outlook analysis predicts a growth rate (CAGR) of 6.05% for the period 2022-2027.
Analyst view:
“From the current situation of the industry, maleic anhydride industry is being occupied by leading enterprises in a large area, the industry concentration is high, the entry threshold is high, and it is difficult for new entrants to squeeze into the market.” Selina, senior analyst at Yi He Consulting Chemical Market Research Center, said. “It is suggested that small businesses can choose to seek mergers and acquisitions to strengthen their strength.”
Market Insights:
Maleic anhydride is used as a component in UPR and is further used in the manufacture of automotive composites such as closures, body panels, fenders, grille opening intensifiers (GOR), heat shields, headlight reflectors and pickup trucks. Due to the increase in disposable income and employment of people, the growth in global sales of passenger cars and commercial vehicles is driving the overall maleic anhydride market. In addition, the commercialization of bio-based maleic anhydride offers further growth opportunities for the overall global maleic anhydride market compared to traditional maleic anhydride.
However, raw material price fluctuations, strict technical requirements, precision equipment and other factors jointly affect the manufacturing cost of maleic anhydride, which hinders the market development to a certain extent.
Maleic anhydride Market Segmentation:
On the basis of type, the global maleic anhydride market can be divided into n-butane and benzene. Among them, n-butane dominates the market. Due to its low production cost and low harm, n-butylmaleic anhydride is more popular than phenylmaleic anhydride. Based on application, the global maleic anhydride market can be segmented into unsaturated polyester resin (UPR), 1, 4-butanediol (1, 4-BDO), lubricant additives, copolymers, etc. Among them, unsaturated polyester resin (UPR) dominates the market. The growth of this segment is mainly due to the increasing demand for UPR in emerging economies such as China and India and the low price compared to other epoxy resins. UPR’s increasing penetration in industries such as Marine, aerospace, automotive, construction, and chemicals is expected to further drive the growth of the maleic anhydride market.
Maleic anhydride market: regional analysis
Geographically, the global maleic anhydride market has been segmented into: North America, Asia Pacific, Europe, South America, Middle East and Africa. Asia Pacific currently dominates the market and will continue to maintain its leading position during the forecast period. Because China, Japan and India in the region are countries with abundant growth opportunities. The growth of the regional market is mainly driven by the expanding automotive and construction industries in the major economies of the region. The increasing use of maleic anhydride in bulk molding and glass fiber reinforced plastics is expected to further drive the demand for maleic anhydride in the region. Rising disposable income, rapid industrialization, urbanization, and construction spending in the region are expected to further drive the market in the region.
Compound annual growth rate: 6.05%
Largest sharing region: Asia-Pacific region
Which country is the biggest in the cooperation area? China
Product type: N-butane, benzene Applications: Unsaturated polyester resin (UPR), 1, 4-butanediol (1,4-BDO), lubricating oil additives, copolymers, others
Post time: Nov-15-2023
