Reports And Data

Maleic Anhydride Market Size – USD 3,095.0 Million in 2020, Market Growth - CAGR of 6.2%, Market Trends – Increasing purchasing power parity of consumers

NEW YORK CITY, NY, UNITED STATES, November 14, 2021 /EINPresswire.com/ -- The global maleic anhydride market is expected to reach USD 4,967.0 Million by 2028, according to a new report by Reports and Data. The market growth of Maleic anhydride is attributed to its growing application in several resins and plastics, petroleum additives, agricultural and industrial chemicals, water treatment chemicals, pharmaceuticals, epoxy curing agents, flavor enhancers, and copolymers, among others.

Growing demand from the polymer and coating industries is one of the significant factors influencing market growth.

Unsaturated polyesters are the third most used thermoset molding resins worldwide and are primarily used in the manufacturing of fiber-reinforced plastics and filled plastic products, comprising sanitary-ware, pipes, tanks, gratings, and high-performance components for the transportation and marine industry including closure and body panels, boat decks and other large glass fiber reinforced plastic products. Also, the material is used in trucks, aircraft, coaches, and buses as it is suitable for lower volume applications. Unsaturated polyester resins also find uses in coatings and adhesives. Unsaturated polyester resin-based products offer a wide range of materials with tailored performance features for a variety of markets.

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Growing use of maleic anhydride in production of 1, 4-Butanediol is likely to propel the market growth. It is used to make paint thinner, floor stripper, and other solvent products. It is an essential commodity chemical that finds usage as a starting point chemical for synthesizing other chemicals and polymers, including the polybutylene terephthalate, an exceptional engineering thermoplastic. 1, 4-Butanediol is used for the production of more than 2.5 million tons of important polymers every year.

Top Key participants:
DSM NV, Huntsman Corporation, Lanxess AG, Ashland Inc., Flint Hills Resources, Mitsubishi Chemicals, Merck & Co., Inc., Sasol, Tianjin Bohai Chemicals, and Nippon Shokubai Co. Ltd., among others.

Further key findings from the report suggest

By form, the solid form of maleic anhydride contributed to the largest market share in 2020 and is likely to grow at a rate of 5.8% in the forecast period.

By application, unsaturated polyester resins accounted for the largest market share in 2020 and is expected to experience a growth rate of 6.0% in the forecast period. Unsaturated polyester resins find extensive usage in a variety of applications owing to their range of mechanical properties, low weight, and corrosion resistance. These resins are commonly used for coatings, clear casting resins, body fillers, buttons, work-surfaces (for example, polyester marble), polyester concrete (for applications comprising road drainage) and in the production of Gel Coats (used to enhance surfaced finish).

By industry verticals, the automotive industry is likely to witness the fastest growth rate of 6.5% in the period 2019-2028. Maleic anhydride finds application in the automotive industry for the production of parts comprising body panels, bumper beams, sunroof frames, dashboard carriers, seat structures, catalytic converter heat shields, and battery supports, among others. Also, apart from weight reduction, automotive parts made from unsaturated polyester resins are used to reduce painting costs.

Europe held the second-largest market share in 2020 and is likely to grow at a rate of 5.4% in the forecast period. The market demand in Europe is primarily owing to the growth of the construction and automotive industries in the region.

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For the purpose of this report, Reports and Data have segmented the global maleic anhydride market on the basis of form, applications, industry vertical, and region:

Form Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Solid
Brittle
Molten

Applications Outlook
Unsaturated Polyester Resins
1, 4-Butanediol
Additives
Co-Polymers
Others

Industry Vertical Outlook
Construction
Automotive
Textile
Food & Beverage
Pharmaceutical
Others

Regional Outlook
North America
Europe
Asia Pacific
Latin America
MEA

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Market Report includes major TOC points:

Maleic Anhydride market Overview
Global Economic Impact on Industry
Global Market Competition by Manufacturers
Global Production, Revenue (Value) by Region
Global Supply (Production), Consumption, Export, Import by Regions
Global Production, Revenue (Value), Price Trend by Type
Global Market Analysis by Application
Manufacturing Cost Analysis
Industrial Chain, Sourcing Strategy and Downstream Buyers
Marketing Strategy Analysis, Distributors/Traders
Market Effect Factors Analysis
Maleic Anhydride market Forecast

Conclusively, all aspects of the Maleic Anhydride market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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