Maleic Anhydride Manufacturing Business
Maleic Anhydride Manufacturing Business. Commercial Production of Maleic Anhydride. Highly Profitable Chemical Business Ideas
Maleic anhydride is an organic compound with the formula C2H2 (CO) 2O. It is the acid anhydride of maleic acid. Maleic anhydride is a colorless white solid which has a pungent odor. Maleic anhydride is produced by vapor-phase oxidation of n-butane and is biodegradable under aerobic conditions in sewage sludge as well as in soil and water. Maleic anhydride is a precursor to compounds, used for water treatment, detergents, insecticides and fungicides, pharmaceuticals, and other copolymers. It is also used in personal care products, and as artificial sweeteners and flavor enhancer in the food industry.
Maleic anhydride is a colorless or white solid with an acrid odor. Maleic anhydride is a very versatile molecule that lends itself to many applications requiring a number of properties and functionalities. With three active sites (two carboxyl groups and one double bond), it is an excellent joining and cross linking agent. Its major end use, representing well over half of global demand, is in the manufacture of unsaturated polyester resins, where its cross-linking abilities are important.
Maleic anhydride is used widely as there has been a change in the preference towards stronger and lighter fiberglass composite materials in construction, aerospace, automotive, and turbine industries. It is used in the production of gamma-butyrolactone, 1, 4-butanediol, and tetrahydrofuran.
Maleic anhydride is used in the production of unsaturated polyester resin as well as in the manufacture of coatings, pharmaceutics, agricultural products, surfactants, and as an additive of plastics.
A wide range of applications in lubricant, fuel oil, automotive, aerospace, turbine, and construction industries are driving the global market for Maleic Anhydride. Maleic Anhydride is the principal ingredient in unsaturated polyester resins which is used to make lighter, stronger and fiberglass, the most preferred product in various industries.
Market Outlook
The global maleic anhydride market size was valued at USD 2.77 billion in 2018 and is projected to expand at a CAGR of 6.7% from 2019 to 2025.Increasing demand for Unsaturated Polyester Resins (UPR) and 1,4-Butanediol (BDO) are expected to augment market growth over the forecast period.
Increasing demand for maleic anhydride based unsaturated polyester from automobile and construction industries is a major factor expected to drive growth of the global maleic anhydride market over the forecast period. In addition, growing demand for maleic anhydride based 1, 4-butanediol from textile industry, is another factor expected to fuel growth of the target market during the forecast period.
U.S. Maleic Anhydride Market Size, By Application, 2014-2025 (USD Million)
Rapid Industrialization and Growth in construction is driving the global Maleic Anhydride Market. The escalating growth in construction industry mainly in developing countries is expected to drive the growth of the unsaturated polyester resins. This, in turn, raises the demand for Maleic Anhydrides. This is mainly because of the use of unsaturated polyester resins in heat-resistant pipes and tanks in buildings and other structures. The increasing demand for automobiles due to rapid industrialization is also driving the global order.
Asia-Pacific is leading the global Maleic Anhydride Market with a market share of approximately 40%, followed by North America. Rapid growth in building & construction and automotive industries which are the primary end users of the product and enormous growth opportunities for various sectors in this region are favoring it to lead the global market.
Maleic Anhydride Market Revenue, By Geography (%)
Application-wise, the maleic anhydride market can be segmented into unsaturated polyester resin (UPR), copolymers, lubricant additives, alkenyl succinic anhydrides, malic acid, fumaric acid, and others. UPR segment, as of 2017, is dominating the market, whereas copolymers are expected to record the fastest growth rate during the forecast period.
A key driver for the global maleic anhydride market is the increase in demand from developing countries. Strong contributions from developing economies such as India, China, Brazil, Mexico, and Indonesia have been contributing to the growth of the global maleic anhydride market. This has resulted in several maleic anhydride vendors shifting their manufacturing activities to these countries. In addition, factors such as easy availability of raw materials and land, low-cost labor, low transportation costs, and lenient government regulations and policies are augmenting market growth in the APAC region.
Top Leading Companies are: Huntsman Corporation, Changzhou Yabang Chemical, Zibo Qixiang Tengda Chemical, Lanxess AG, Polynt Spa, Ashland Inc., Flint Hills Resources, Nippon Shokubai Co., Ltd, Mitsubishi Chemical Corporation, Bartek Ingredients Inc, China National Bluestar (Group) Co., Ltd., Thirumalai Chemicals Ltd., Other Manufacturers, Etc.
See more