The Asia-Pacific maleic anhydride market is expected to grow at a healthy pace of 6.8 % from over USD 2.75 billion in 2015 to USD 3.81 billion during the forecast period. The Asia-Pacific is the largest global market for maleic anhydride with 56% of the global market consumption share. 80% of production capacity in this region and 52% of its consumption is derived from China.
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Over time, demand for maleic anhydride has generally grown at rates that slightly exceed GDP growth in corresponding countries. Given its dependence on the unsaturated polyester resin market, due to the influence from construction end markets, maleic anhydride demand can be cyclical depending on phases of industrial growth, government policies and economic fluctuations.
Besides being an intermediate in the production of significant chemicals, maleic anhydride is either directly or indirectly involved in wide range of industries including electronics, food, petroleum products, polymer industry, personal care products, pharmaceuticals and agricultural chemicals.
Over half of the global maleic anhydride produced, is used in the manufacture of unsaturated polyester resins which in turn are used in the production of sheet molding compounds, bulk molding compounds, fiberglass reinforced plastics that are used in a diverse range of consumer products including boats, automobiles, buildings, piping, and electrical goods.
Polyester resin market, with a CAGR of 6%, is also helping maleic anhydride application and its market growth in this category. Some other applications of maleic anhydride are in the production of maleic anhydride based copolymers, lubricant oil additives, alkyl succinic anhydrides, phthalic anhydride, maleic acid, fumaric acid and various agricultural chemicals.
Market Dynamics of the Asia-Pacific Maleic Anhydride Market:
Increasing demand from emerging economies
Increasing diversity in the application
Rise of bio-based constraints
Dependence on the construction and polymer industry
Maleic anhydride based copolymers enable the use of more sustainable raw materials, binding wood fibers into plastic, corrosion inhibitors and protective coatings for wire and water repellants in screens. Through conversion to fumaric and malic acids, maleic anhydride is a vital component of gelling agents, flavor enhancers and food preservatives.
It is also essential in the production of elastane fibers used in the production of spandex, artificial sweeteners, paper-sizing, water treatments, and hardeners for epoxy curing, hairsprays, pharmaceuticals, and agricultural chemicals.
Owing to the rising importance of recyclability, biodegradability and the use of more sustainable chemicals, bio-based alternatives to maleic anhydride and more environment-friendly methods of production are expected to increase in the near future.
The report studies the market segmentation on the basis of geography into China, Japan, India and others. The report also offers insights into the recent developments, financials and the products &services offered by the major market players of the industry in the region.
Some of the key players are:
Changzhou Yabang Chemical Co Ltd
Compania Espanola de Petroleos, S.A.
Nippon Shokubai Co. Ltd.
Sasol-Huntsman GmbH & Co. KG
Thirumalai Chemicals Limited
Key Deliverables in the Study
Analysis for the Asia-Pacific maleic anhydride market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the Asia-Pacific maleic anhydride market on a regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
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