According to a recent report by Fact.MR, the global maleic anhydride market is projected to grow at a CAGR of 3.4% from 2022 to 2032. During this forecast period, the market is expected to generate a dollar opportunity of US$ 1.2 billion, reaching a valuation of US$ 4.1 billion. The market grew at a CAGR of 4.0% from 2015 to 2021, and is anticipated to hit US$ 2.9 billion by 2022.

Bio-based feedstock offers several advantages over traditional sources. Given the limited availability of oil resources and the high costs associated with extracting and oxidizing benzene, conventional methods are expensive and technologically demanding. To address these challenges, large-scale commercialization of bio-based maleic anhydride is crucial.

The report highlights that the increasing demand for passenger cars and commercial vehicles is driving growth in the maleic anhydride market within the automotive sector. Maleic anhydride is used in unsaturated polyester resins (UPR), which are utilized in manufacturing automotive composites such as closure panels, body panels, fenders, grille opening reinforcement (GOR), heat shields, headlamp reflectors, and pick-up boxes. Additionally, maleic anhydride copolymers are employed in lubricant additives like viscosity index improvers, pour point depressants, and dispersants. The rising global sales of passenger and commercial vehicles are contributing significantly to the overall growth of the maleic anhydride market.

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Moreover, the motorization rate has risen significantly over the past five years in both developed and developing countries, driven by increased disposable incomes and industrial growth. The continuous growth in vehicle numbers is boosting the demand for engine oil, functional fluids, and automotive components in emerging economies. This trend is, in turn, positively impacting the maleic anhydride market.

Key Takeaways from the Market Study

Global Maleic Anhydride Market to flourish at a value of US$ 4.1 Bn from 2022-2032
N-butane to be top raw material, flourishing at a 3.4% CAGR until 2032
By Application, the Lubricating Oil Additives segment of the Maleic Anhydride to expand at a CAGR of 3.3%
The US to emerge as the fastest growing Maleic Anhydride Market, documenting a 3.2% CAGR
China to be the second most opportunistic market, expected to be valued at US$ 293.5 Million in 2032
Japan, UK & South Korea to yield $ opportunities worth US$ 236.7 Million, US$ 168.2 Million, and US$ 147.7 Million respectively
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Competitive Landscape

The global maleic anhydride market features a diverse range of vendors, each striving to offer a wide array of products to consumers. Key players are concentrating on advancing technologies and adhering to stringent government regulations, while providing customized solutions aligned with their business goals. To gain a competitive edge, these vendors are expected to focus on upgrades and product differentiation.

In July 2020, Polynt-Reichhold Group announced plans to construct a greenfield maleic anhydride plant with a capacity of 50,000 tons at its Morris, Illinois site.
In December 2019, Nippon Shokubai and Sanyo Chemical merged their businesses through a share transfer, establishing an integrated holding company named Synfomix Co. Ltd. (Kyoto, Japan). Synfomix’s materials division will produce a range of products, including maleic anhydride and its derivatives.
In September 2019, Huntsman Corporation acquired the remaining 50% stake in its joint venture with Sasol-Huntsman. This acquisition allowed Huntsman to fully integrate its European operations and better serve key customers in the construction and coatings sectors.
Key Segments Covered in the Maleic Anhydride Industry Report

Maleic Anhydride Market By Raw Material :
n-butane
Benzene
Maleic Anhydride Market By Application :
UPR
1,4 – BDO
Lubricating Oil Additives
Copolymers
Others
Maleic Anhydride Market By Region :
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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More Valuable Insights

The study, in its new offering, presents an unbiased analysis of the global Maleic Anhydride Market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

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