Maleic Anhydride Market

Maleic Anhydride Market Overview:

The global maleic anhydride market size reached USD 3.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.2 Billion by 2033, exhibiting a growth rate (CAGR) of 4.10% during 2025-2033. There are various factors that are driving the market, which include the rising adoption of vehicles due to their enhanced convenience, increasing production of agrochemicals such as herbicides and pesticides, and the thriving construction sector.

Maleic Anhydride Market Analysis:

• Major Market Drivers: The global market is experiencing moderate growth, driven by the rising demand for durable materials and the increasing focus on the production of copolymers and additives that are utilized in various industries, including packaging and plastics.
• Key Market Trends: The rising adoption of vehicles and the increasing production of agrochemicals are main trends in the market. 
• Geographical Trends: Asia Pacific exhibits a clear dominance, accounting for the biggest market share owing to rapid industrialization and urbanization.
• Competitive Landscape: Major market players in the maleic anhydride industry are Helm AG, Huntsman Corporation, INEOS Group Limited, Lanxess AG, Merck KGaA, Mitsubishi Chemical Corporation, MOL Group, Nan Ya Plastics Corporation, Ningbo Jiangning Chemical Co. Ltd., Nippon Shokubai Co. Ltd., Polynt S.p.A, Thirumalai Chemicals Limited, Tianjin Bohai Chemical Industry Group Supply and Sales Co. Ltd., Zibo Qixiang Tengda Chemical Co. Ltd., among many others.
• Challenges and Opportunities: Volatility in raw material prices represent a key market challenge. Nonetheless, the increasing focus on sustainable manufacturing practices, coupled with the rising demand for specialty chemicals for various applications, is projected to overcome these challenges and provide market opportunities.

Maleic Anhydride Market Trends:

Rising Adoption of Vehicles

Automotive adhesives and coatings are made with maleic anhydride. These coatings are vital for the durability, corrosion resistance, and aesthetics of vehicles, and adhesives are necessary for the accurate assembly of different vehicle parts. The growing vehicle production, along with the need for advanced coatings and adhesives to enhance vehicle performance, is catalyzing the demand for maleic anhydride. Furthermore, maleic anhydride is a raw material used to make a number of additives for lubricants used in automobiles. The growing need for premium lubricants that guarantee the best engine performance and longevity is offering a favorable market outlook. Apart from this, the global adoption of electric vehicles (EVs) is creating new opportunities for maleic anhydride. EVs require lightweight materials and advanced composites to improve energy efficiency and extend battery life. Maleic anhydride-based products, such as high-performance resins and coatings, are used in EV manufacturing, thereby contributing to the market growth. As per the International Energy Agency (IEA) EV sales are expected to reach around 17 million worldwide in 2024.

Increasing Production of Agrochemicals

The IMARC Group study report states that the global agrochemicals market reached US$ 288.2 Billion in 2023. Maleic anhydride is an essential component used in the production of some pesticides and herbicides. By shielding crops from weeds, pests, and diseases, agrochemical like maleic anhydride help to increase agricultural production. As global agriculture faces challenges like population growth and the need for higher crop yields, the demand for effective agrochemicals is increasing. Furthermore, maleic anhydride is suitable for the production of plant growth regulators, which are chemicals that influence plant growth and development. These regulators are essential for managing plant growth and enhancing crop quality. The market is expanding as a result of the increasing focus on agricultural output to ensure food security.

Thriving Construction Sector

Maleic anhydride is suitable to produce sealants, adhesives, and coatings for construction applications. These products are vital for waterproofing, insulating, and protecting buildings and structures from environmental factors. The escalating demand for high-performance sealants and coatings due to the rising number of residential and commercial spaces across the globe is showing a major maleic anhydride market trend. Maleic anhydride is used to make low-volatile organic compound (VOC) and bio-based paints and resins that meet green construction requirements. In addition, leading companies in the industry are increasing their product lines through partnerships and mergers and acquisitions (M&As). For instance, on 13 June 2023, PETRONAS Chemicals Group Berhad (PCG) finally decided to buy BASF PETRONAS Chemicals Sdn. Bhd. (BPC) completely for the 113 kilo-tons per annum (KTPA) maleic anhydride plant in Gebeng, Kuantan. To improve PCG's derivatives product offerings, the plant will broaden the company’s product line and its derivatives.

Maleic Anhydride Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on raw material, application, and end use industry.

Breakup by Raw Material:

• n-butane
• Benzene
   

n-butane accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the raw material. This includes n-butane and benzene. According to the report, n-butane represented the largest segment.

It is less expensive to produce maleic anhydride from n-butane than from benzene. Manufacturers are opting n-butane as a raw material because of its cost-effective nature. Maleic anhydride is usually produced in larger quantities through the n-butane method, which improves process efficiency and makes it more financially feasible. In addition, the production of maleic anhydride from n-butane is considered eco-friendly than using benzene. This is because production based on n-butane produces fewer hazardous emissions and byproducts, which is in line with international environmental rules and sustainability objectives.

Breakup by Application: 

• Unsaturated Polyester Resin (UPR) 
• 1-4, Butanediol (BDO)
• Additives
• Copolymers
• Others
   

Unsaturated Polyester Resin (UPR) holds the largest share of the industry

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes unsaturated polyester resin (UPR), 1-4, Butanediol (BDO), additives, copolymers, and others. According to the report, unsaturated polyester resin (UPR) accounts for the largest market share.

Unsaturated polyester resin (UPR) is used in a variety of industries like automotive, maritime, and construction. UPR is renowned for its robustness, resilience to environmental influences, and corrosion resistance. It is mainly used in demanding applications like protective coatings and structural components because of these qualities. The building and automotive sectors' growing need for high-strength and lightweight materials are driving the market's expansion. As these sectors grow, so does the need for UPRs and, consequently, the demand for maleic anhydride.

Breakup by End Use Industry:

• Construction
• Automobile
• Food and Beverage
• Oil Products
• Electronics
• Personal Care
• Pharmaceuticals 
• Others
   

Construction represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes construction, automobile, food and beverage, oil products, electronics, personal care, pharmaceuticals, and others. According to the report, construction represents the largest segment.

The construction industry requires a variety of materials that incorporate maleic anhydride, particularly unsaturated polyester resins (UPR) and other composites. UPRs are used in manufacturing materials like fiberglass-reinforced plastics, which are critical for building and infrastructure projects. In addition, the rising number of residential and commercial spaces is supporting the market growth. The construction sector often uses maleic anhydride-based products to create lightweight, strong, and corrosion-resistant materials. These properties are essential for modern construction projects, contributing to the high demand for maleic anhydride.

Breakup by Region: 

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest maleic anhydride market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for maleic anhydride.

The Asia Pacific region is experiencing rapid industrialization and urbanization, particularly in countries like China and India. In addition, the rising number of residential projects is impelling the market growth. Furthermore, the region is a hub for technological advancements and innovation in chemical manufacturing. This includes the development of new applications and formulations for maleic anhydride. Besides this, companies in the region are focusing on expanding their production capacity to generate enhanced revenues. For example, on 21 November 2023, Clariant, a sustainability-focused specialty chemical company, announced that it has been awarded a major contract by Jiangsu Shenghong Petrochemical Co., Ltd, to use Clariant’s SynDane 3142 LA catalyst for its new maleic anhydride production plant in Lianyungang, Jiangsu province, China. With a production capacity of 200,000 tons per year, the new is plant slated to start production in 2025 and will be one of the largest production plants for maleic anhydride worldwide.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the maleic anhydride industry include Helm AG, Huntsman Corporation, INEOS Group Limited, Lanxess AG, Merck KGaA, Mitsubishi Chemical Corporation, MOL Group, Nan Ya Plastics Corporation, Ningbo Jiangning Chemical Co. Ltd., Nippon Shokubai Co. Ltd., Polynt S.p.A, Thirumalai Chemicals Limited, Tianjin Bohai Chemical Industry Group Supply and Sales Co. Ltd., and Zibo Qixiang Tengda Chemical Co. Ltd.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• Key players in the market are investing in expanding their production capacity and building new facilities to meet the growing demand for maleic anhydride. They are focusing on enhancing their production efficiency and sustainability. They are investing in research and development (R&D) activities to improve the efficiency and environmental impact of maleic anhydride production. They are also working on advanced catalytic processes and greener production technologies. Besides this, they are engaging in partnerships and collaborations to create advanced products. For instance, on 28 November 2023, Clariant, a sustainability-focused specialty chemical company, signed an agreement with Conser, part of MAIRE Group, for the supply of maleic anhydride catalysts. This partnership will develop next-generation catalysts based on Clariant’s successful SynDane series, with the aim of offering superior productivity, cost efficiency and sustainability.

Maleic Anhydride Market News:

• 26 October 2023: Huntsman, a prominent US-based chemical corporation with a global presence, planned to resume the production of maleic anhydride in the city of Moers, Germany. This development comes in the wake of an unscheduled maintenance shutdown, which temporarily halted operations at the facility. The Moers plant boasts a substantial annual production capacity of 105,000 tons of maleic anhydride.
• 4 December 2023: PT Justus Sakti Raya, a prominent player in the petrochemical industry in Indonesia, successfully resumed production at its maleic anhydride plant located in Jakarta, Indonesia, following a period of preventive measures and maintenance.

Maleic Anhydride Market Report Scope:

Key Questions Answered in This Report:

• How has the global maleic anhydride market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global market?
• What is the impact of each driver, restraint, and opportunity on the global market?
• What are the key regional markets?
• Which countries represent the most attractive market?
• What is the breakup of the market based on the raw material?
• Which is the most attractive raw material in the market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the market?
• What is the breakup of the market based on the end use industry?
• Which is the most attractive end use industry in the market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global maleic anhydride market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the maleic anhydride industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.