What Has Driven the Growth of the Maleic Anhydride Market in Recent Years?
The maleic anhydride market has seen considerable growth due to a variety of factors.
• The size of the maleic anhydride market has experienced a significant increase in the past few years. Predictions show an increase from $3.75 billion in 2024 to $4.03 billion in 2025, representing a compound annual growth rate (CAGR) of 7.5%.
The aforementioned growth during the historical period can largely be credited to the expansion of chemical manufacturing, the production of polymers, developments in construction and infrastructure, as well as the automotive industry, and the furniture and appliances sector.
What is the Market Size Forecast for the Maleic Anhydride Market?
The maleic anhydride market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of maleic anhydride is anticipated to experience substantial growth, reaching $5.31 billion in 2029 through a compound annual growth rate (CAGR) of 7.1%.
This growth during the projected period is mainly due to factors such as environmental norms, the use of plasticizers and resins, the transportation sector, electronic gadgets, and the packaging industry. Forecast trends highlight the emergence of smart materials and composites, the rise of green infrastructure, innovations in sustainable chemistry such as bio-based maleic anhydride, and the increasing usage of advanced polymer applications.
Which Factors Are Boosting Growth In The Maleic Anhydride Market?
The global increase in automobile demand has played a significant role in expanding the maleic anhydride market. The automotive sector, which involves manufacturing and selling vehicles like cars, trucks, agricultural machinery, and various commercial vehicles, relies heavily on unsaturated polyester resin (UPR), a product of maleic anhydride, because of its design flexibility, lightweight, and mechanical properties. For example, in March 2024, the European Automobile Manufacturers Association, a Belgium-based organization, informed that after a substantial rebound in 2023, worldwide car sales grew by almost 10%, exceeding 72 million units. The European auto market too showed robust growth, registering an 18.6% increase in sales compared to 2022. Parallel growth patterns were observed in the EU and Eastern European countries, with Russia and Ukraine displaying remarkable growth rates of 63.5% and 58.9%, respectively. This upward trend consequently enhanced the growth of the maleic anhydride industry and its associated products.
What Key Areas Define The Segmentation Of The Global Maleic Anhydride Market?
The maleic anhydride market covered in this report is segmented –
1) By Type: Solid Maleic Anhydride, Molten Maleic Anhydride
2) By Raw Material: Benzene, N-Butane
3) By Application: Unsaturated Polyester Resin, Copolymers, Lubricant Additives, Alkyl Succinic Anhydrides, Malic Acid, Fumaric Acid
4) By End User: Construction, Automobile, Food and Beverage, Oil Products, Electronics, Personal Care, Pharmaceuticals, Agriculture
Subsegments
1) By Solid Maleic Anhydride: Crystalline Maleic Anhydride, Powdered Maleic Anhydride
2) By Molten Maleic Anhydride: Liquid Maleic Anhydride
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How Are Emerging Trends Reshaping The Dynamics Of The Maleic Anhydride Market?
The trend of escalating investment in research and development is becoming significantly noticeable in the maleic anhydride markets. Leading entities in the pharmaceutical sector participating in the maleic anhydride market are keen on probing the possibilities of L-malic acid in dietary supplement applications. The global requirement for ingredients that enhance cardiovascular protection and fortify immune systems has been considerable. As an example, the latest and tenth editions of worldwide maleic anhydride market size forecasts up to 2028 project a reasonable to robust growth rate throughout the predicted period. Prominent corporations in the maleic anhydride market are striving to introduce novel products and solutions by subtly curtailing R&D budgets and seeking investment opportunities. Furthermore, the potential use of malic acid in the treatment of fibromyalgia patients has piqued the interest of multiple pharmaceutical companies, leading to generous investments in R&D.
Who Are the Key Players in the Maleic Anhydride Market?
Major companies operating in the maleic anhydride market include:
• Huntsman Corporation
• Lanxess AG
• Mitsubishi Chemical Corporation
• HELM AG
• Ningbo Jiangning Chemical Co. Ltd.
• Nippon Shokubai Co. Ltd.
• Ashland Global Holdings Inc.
• Changzhou Shuguang Chemical Co. Ltd.
• Bartek Ingredients Inc.
• BASF SE
• Cepsa Química S.L.U.
• Polynt S.p.A.
• Sasol Limited
• Flint Hills Resources LP
• Zibo Qixing Tengda Chemical Co. Ltd.
• Yongsan Chemicals Inc.
• Tianjin Bohai Chemicals
• Thirumalai Chemicals Limited
• Gulf Advanced Chemical Industries Co. Ltd.
• MOL Group
• Yunnan Yunwei Company Limited
• Jiangyin Shunfei Fine Chemical Co. Ltd.
• Jiangsu Zhongteng Chemical Co. Ltd.
• Fuso Chemical Co. Ltd.
• Mitsui Chemicals Inc.
• Shandong Hongxin Chemical Co. Ltd.
• Baotie Hebei Chemical Industry Co. Ltd.
• Aekyung Petrochemical Co. Ltd.
• DSM NV
• Merck & Co. Inc.
• Bluestar Harbin Petrochemical Corporation
• INEOS
• NAN YA PLASTICS CORPORATION
• China National Chemical Corporation
• Hexion Inc.
• Lonza Group AG
• Zibo Qixiang Tengda Chemical Co. Ltd.
• Zhejiang Weishi Biotechnology Co. Ltd.
• Zouping Qili Additives Co. Ltd.
What Is The Most Dominant Region In The Maleic Anhydride Market?
Asia-Pacific was the largest region in the maleic anhydride market share in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the maleic anhydride market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
