Maleic Anhydride Market Research, Key Players, Analysis And Forecast 2025: Grand View Research Inc.

 


The global maleic anhydride market size is projected to reach USD 4.38 billion by 2025 registering a CAGR of 6.7%, according to a new report by Grand View Research, Inc. Maleic anhydride is used to manufacture 1,4-Butanediol (BDO), which has a high demand from the textile industry and the manufacturers of Tetrahydrofuran (THF) and Polyurethane (PU). 1,4-BDO is an organic compound used as an industrial solvent & cleaner and glue remover.

It is a key raw material for manufacturing spandex via producing polytetramethylene ether glycol. 1,4-BDO has majorly replaced rubber in most textile applications, such as foundation garments, girdles, suspenders, waistbands, hosiery, and socks. One of its major products, spandex, is widely used for manufacturing stretchable clothing as it is flexible and durable. Increasing demand for fibers with ‘memory’ and high-quality blends that offer suppleness and comfort to leather products has driven the demand for 1,4-BDO.

The European market is expected to witness a steady growth owing to rising demand in end-use industries and innovation in the lubricant sector. The thriving marine activities in the region are expected to boost demand for marine lubricants. Growing construction sector in Eastern Europe will further augment the demand for maleic anhydride.

The molecular structure of MAN makes it an excellent crosslinking and conjunction agent. It also forms an integral structural component in industrial copolymers. In terms of consumption, the U.S. leads the market in North America. High demand for UPR and additives in building & constructions coupled with technological advancement in manufacturing technologies has been the major driving factor. Product demand in the U.S. is primarily driven by the refurbishment of the existing infrastructure. The growth is further supported by the U.S. government’s efforts to improve the energy efficiency of buildings. Maleic anhydride is used to manufacture 1,4-butanediol (BDO) by Davy Process Technology (DPT).

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In this process, MAN is converted to the ester, which then undergoes fixed-bed hydrogenolysis to make a mixture of BDO, Tetrahydrofuran (THF), and GBL. BDO is an intermediate chemical for THF, Polytetramethylene Ether Glycol (PTMEG), Gamma-Butyrolactone (GBL), Polybutylene Terephthalate (PBT), and Polyurethane (PU). These chemicals are widely used in engineering plastics, fibers, medicines, artificial leather, cosmetics, pesticides, hardener, plasticizers, solvent, and rust remover. Increasing cases of car accidents on a global level are expected to propel the demand for UPR as they help repair dents caused during accidents.

Maleic Anhydride Market Report Highlights

  • Unsaturated Polyester Resin (UPR) application segment accounted for over 50% of the overall share in 2018 owing to increasing application scope in construction and automotive industries
  • Rising THF and spandex demand for sports apparels is anticipated to fuel the BDO segment over the forecast period
  • Increasing number of global sport events, such as Olympics and FIFA World Cup, is expected to have a positive impact on the segment growth
  • Central & South America is emerging as a significant market. Growing demand, sufficient availability of raw material, and increasing economic status have led major European companies to shift their manufacturing bases to this region
  • Major companies in the maleic anhydride market include Bartek Ingredients, Baotie Hebei, Thirumalai Chemicals Limited, Nippon Shokubai Co., Ltd., MOL Hungarian Oil and Gas PLC, BASF, and Mitsubishi Chemicals

The global market structure is highly segregated with the top five companies including Yabang Jiangsu, Polynt, Huntsman, Qiaoyou Shanxi, and Tianjin Bohai. These companies together accounted for over 30% of the total volume in 2018. Huntsman was the single largest manufacturer of MAN and accounted for over 9.5% of the global market share in 2018.

Huntsman has two manufacturing facilities located in Louisiana and Florida with a total capacity of 155 kilotons and another manufacturing facility in Moers, Germany in collaboration with Sasol with a capacity of 105 kilotons. Some of the prominent players in the maleic anhydride market include: 

  • Huntsman Corporation
  • Laxness AG
  • MOL Hungarian Oil & Gas Plc
  • Nippon Shokubai Co., Ltd.
  • Thirumalai Chemicals Ltd.
  • Compania Espanola de Petroleos
  • S.A.
  • DSM N.V.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

 

 

 

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