The Global Maleic Anhydride Market size is expected to reach $5.5 billion by 2031, rising at a market growth of 4.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 3240.0 Kilo Tonnes, experiencing a growth of 19.1% (2020-2023).
Maleic anhydride copolymers are widely used in adhesive formulations for bonding substrates such as metals, plastics, wood, and composites. Therefore, the copolymers segment would generate around 10.24% revenue share of the market by 2031. Also, Russia utilized 118.59 Kilo Tonnes of Maleic Anhydride in the market in 2023. They provide excellent adhesion, cohesion, and compatibility with different materials, enhancing the performance and durability of adhesive bonds in the construction, automotive, packaging, and consumer goods industries.
Maleic anhydride is one of the primary raw materials used to synthesize UPR. UPR is a versatile thermosetting polymer widely used in various applications such as fiberglass-reinforced plastics (FRP), composite materials, automotive parts, marine components, construction materials, and consumer goods. Industries such as construction, automotive, marine, aerospace, and electrical industries heavily rely on UPR-based products due to their excellent mechanical properties, corrosion resistance, durability, and cost-effectiveness. Thus, rising demand for unsaturated polyester resins (UPR) drives the market's growth.
Additionally, Maleic anhydride derivatives, such as maleic anhydride esters, are used as lubricant additives to enhance the lubricating properties of base oils. These additives help reduce friction, wear, and heat generation in mechanical systems, improving equipment efficiency, reliability, and lifespan. Maleic anhydride-based additives act as effective anti-wear and extreme pressure agents in lubricants, protecting metal surfaces under high load and temperature conditions. Therefore, increasing demand for maleic anhydride in lubricant additives propels the market's growth.
However, the primary feedstocks for maleic anhydride production, such as butane and benzene, are derived from petroleum refining processes. The availability of these feedstocks depends on factors such as crude oil prices, refinery capacity, and geopolitical factors affecting oil production and supply. Any disruption in the supply chain of petrochemical feedstocks can affect the availability and cost of raw materials for maleic anhydride production. In conclusion, the limited availability of raw materials hinders the market's growth.
Raw Material Outlook
Based on raw material, the market is divided into n-butane and benzene. In 2023, the benzene segment attained a 26.4% revenue share in the market. In terms of Volume, UK market used 37.05 Kilo Tonnes of benzene as raw material in the market in 2023. Benzene exhibits favorable chemical reactivity, making it suitable for synthesizing maleic anhydride through catalytic oxidation. Benzene serves as a precursor in the reaction sequence, undergoing oxidation to form maleic anhydride in the presence of catalysts such as vanadium pentoxide or molybdenum oxide.
Application Outlook
On the basis of application, the market is segmented into unsaturated polyester resins (UPR), 1,4-butanediol (BDO), lubricating oil additives, copolymers, and others. The unsaturated polyester resins (UPR) segment recorded a 47.1% revenue share in the market in 2023. In terms of Volume, the UK market utilized 61.55 Kilo Tonnes of maleic anhydride in Unsaturated Polyester Resins (UPR) in 2023. UPRs are versatile materials in various applications, including construction, automotive, marine, aerospace, electrical, and consumer goods industries. They are used to produce fiberglass-reinforced plastic (FRP) composites for various components such as panels, pipes, tanks, boats, automotive parts, and wind turbine blades.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region generated a 19.5% revenue share in the market in 2023. In terms of volume, North America used 611.2 Kilo Tonnes of Maleic anhydride in 2023. North America is home to several key industries that are major consumers of maleic anhydride, including automotive, construction, aerospace, electronics, and chemical manufacturing. These industries require maleic anhydride for various applications, such as unsaturated polyester resins (UPR), lubricant additives, coatings, adhesives, and specialty polymers.
List of Key Companies Profiled
- Huntsman Corporation
- Mitsubishi Chemical Holdings Corporation
- Lanxess AG
- Nan Ya Plastics Corp. (NPC)
- Nippon Shokubai Co., Ltd.
- IG Petrochemicals Limited (IGPL)
- China National BlueStar (Group) Co, Ltd. (China National Chemical Corporation)
- Yongsan Chemical Co., Ltd.
- Aekyung Chemical Co., Ltd. (AK Holdings Co., Ltd.)
- Ningbo Jiangning Chemical Co., Ltd. (Zhejiang Jiangshan Chemical Co., Ltd.)
Global Maleic Anhydride Market Report Segmentation
By Raw Material (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Unsaturated Polyester Resins (UPR)
- 1,4-butanediol (BDO)
- Lubricating Oil Additives
- Copolymers
- Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Maleic Anhydride Market, by Raw Material
- 1.4.2Global Maleic Anhydride Market, by Application
- 1.4.3Global Maleic Anhydride Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 5.Global Maleic Anhydride Market by Raw Material
- 5.1Global N-Butane Market by Region
- 5.2Global Benzene Market by Region
Chapter 6.Global Maleic Anhydride Market by Application
- 6.1Global Unsaturated Polyester Resins (UPR) Market by Region
- 6.2Global 1,4-butanediol (BDO) Market by Region
- 6.3Global Lubricating Oil Additives Market by Region
- 6.4Global Copolymers Market by Region
- 6.5Global Others Market by Region
Chapter 7.Global Maleic Anhydride Market by Region
- 7.1North America Maleic Anhydride Market
- 7.1.1North America Maleic Anhydride Market by Raw Material
- 7.1.1.1North America N-Butane Market by Country
- 7.1.1.2North America Benzene Market by Country
- 7.1.2North America Maleic Anhydride Market by Application
- 7.1.2.1North America Unsaturated Polyester Resins (UPR) Market by Country
- 7.1.2.2North America 1,4-butanediol (BDO) Market by Country
- 7.1.2.3North America Lubricating Oil Additives Market by Country
- 7.1.2.4North America Copolymers Market by Country
- 7.1.2.5North America Others Market by Country
- 7.1.3North America Maleic Anhydride Market by Country
- 7.1.3.1US Maleic Anhydride Market
- 7.1.3.1.1US Maleic Anhydride Market by Raw Material
- 7.1.3.1.2US Maleic Anhydride Market by Application
- 7.1.3.2Canada Maleic Anhydride Market
- 7.1.3.2.1Canada Maleic Anhydride Market by Raw Material
- 7.1.3.2.2Canada Maleic Anhydride Market by Application
- 7.1.3.3Mexico Maleic Anhydride Market
- 7.1.3.3.1Mexico Maleic Anhydride Market by Raw Material
- 7.1.3.3.2Mexico Maleic Anhydride Market by Application
- 7.1.3.4Rest of North America Maleic Anhydride Market
- 7.1.3.4.1Rest of North America Maleic Anhydride Market by Raw Material
- 7.1.3.4.2Rest of North America Maleic Anhydride Market by Application
- 7.2Europe Maleic Anhydride Market
- 7.2.1Europe Maleic Anhydride Market by Raw Material
- 7.2.1.1Europe N-Butane Market by Country
- 7.2.1.2Europe Benzene Market by Country
- 7.2.2Europe Maleic Anhydride Market by Application
- 7.2.2.1Europe Unsaturated Polyester Resins (UPR) Market by Country
- 7.2.2.2Europe 1,4-butanediol (BDO) Market by Country
- 7.2.2.3Europe Lubricating Oil Additives Market by Country
- 7.2.2.4Europe Copolymers Market by Country
- 7.2.2.5Europe Others Market by Country
- 7.2.3Europe Maleic Anhydride Market by Country
- 7.2.3.1Germany Maleic Anhydride Market
- 7.2.3.1.1Germany Maleic Anhydride Market by Raw Material
- 7.2.3.1.2Germany Maleic Anhydride Market by Application
- 7.2.3.2UK Maleic Anhydride Market
- 7.2.3.2.1UK Maleic Anhydride Market by Raw Material
- 7.2.3.2.2UK Maleic Anhydride Market by Application
- 7.2.3.3France Maleic Anhydride Market
- 7.2.3.3.1France Maleic Anhydride Market by Raw Material
- 7.2.3.3.2France Maleic Anhydride Market by Application
- 7.2.3.4Russia Maleic Anhydride Market
- 7.2.3.4.1Russia Maleic Anhydride Market by Raw Material
- 7.2.3.4.2Russia Maleic Anhydride Market by Application
- 7.2.3.5Spain Maleic Anhydride Market
- 7.2.3.5.1Spain Maleic Anhydride Market by Raw Material
- 7.2.3.5.2Spain Maleic Anhydride Market by Application
- 7.2.3.6Italy Maleic Anhydride Market
- 7.2.3.6.1Italy Maleic Anhydride Market by Raw Material
- 7.2.3.6.2Italy Maleic Anhydride Market by Application
- 7.2.3.7Rest of Europe Maleic Anhydride Market
- 7.2.3.7.1Rest of Europe Maleic Anhydride Market by Raw Material
- 7.2.3.7.2Rest of Europe Maleic Anhydride Market by Application
- 7.3Asia Pacific Maleic Anhydride Market
- 7.3.1Asia Pacific Maleic Anhydride Market by Raw Material
- 7.3.1.1Asia Pacific N-Butane Market by Country
- 7.3.1.2Asia Pacific Benzene Market by Country
- 7.3.2Asia Pacific Maleic Anhydride Market by Application
- 7.3.2.1Asia Pacific Unsaturated Polyester Resins (UPR) Market by Country
- 7.3.2.2Asia Pacific 1,4-butanediol (BDO) Market by Country
- 7.3.2.3Asia Pacific Lubricating Oil Additives Market by Country
- 7.3.2.4Asia Pacific Copolymers Market by Country
- 7.3.2.5Asia Pacific Others Market by Country
- 7.3.3Asia Pacific Maleic Anhydride Market by Country
- 7.3.3.1China Maleic Anhydride Market
- 7.3.3.1.1China Maleic Anhydride Market by Raw Material
- 7.3.3.1.2China Maleic Anhydride Market by Application
- 7.3.3.2India Maleic Anhydride Market
- 7.3.3.2.1India Maleic Anhydride Market by Raw Material
- 7.3.3.2.2India Maleic Anhydride Market by Application
- 7.3.3.3Japan Maleic Anhydride Market
- 7.3.3.3.1Japan Maleic Anhydride Market by Raw Material
- 7.3.3.3.2Japan Maleic Anhydride Market by Application
- 7.3.3.4South Korea Maleic Anhydride Market
- 7.3.3.4.1South Korea Maleic Anhydride Market by Raw Material
- 7.3.3.4.2South Korea Maleic Anhydride Market by Application
- 7.3.3.5Singapore Maleic Anhydride Market
- 7.3.3.5.1Singapore Maleic Anhydride Market by Raw Material
- 7.3.3.5.2Singapore Maleic Anhydride Market by Application
- 7.3.3.6Malaysia Maleic Anhydride Market
- 7.3.3.6.1Malaysia Maleic Anhydride Market by Raw Material
- 7.3.3.6.2Malaysia Maleic Anhydride Market by Application
- 7.3.3.7Rest of Asia Pacific Maleic Anhydride Market
- 7.3.3.7.1Rest of Asia Pacific Maleic Anhydride Market by Raw Material
- 7.3.3.7.2Rest of Asia Pacific Maleic Anhydride Market by Application
- 7.4LAMEA Maleic Anhydride Market
- 7.4.1LAMEA Maleic Anhydride Market by Raw Material
- 7.4.1.1LAMEA N-Butane Market by Country
- 7.4.1.2LAMEA Benzene Market by Country
- 7.4.2LAMEA Maleic Anhydride Market by Application
- 7.4.2.1LAMEA Unsaturated Polyester Resins (UPR) Market by Country
- 7.4.2.2LAMEA 1,4-butanediol (BDO) Market by Country
- 7.4.2.3LAMEA Lubricating Oil Additives Market by Country
- 7.4.2.4LAMEA Copolymers Market by Country
- 7.4.2.5LAMEA Others Market by Country
- 7.4.3LAMEA Maleic Anhydride Market by Country
- 7.4.3.1Brazil Maleic Anhydride Market
- 7.4.3.1.1Brazil Maleic Anhydride Market by Raw Material
- 7.4.3.1.2Brazil Maleic Anhydride Market by Application
- 7.4.3.2Argentina Maleic Anhydride Market
- 7.4.3.2.1Argentina Maleic Anhydride Market by Raw Material
- 7.4.3.2.2Argentina Maleic Anhydride Market by Application
- 7.4.3.3UAE Maleic Anhydride Market
- 7.4.3.3.1UAE Maleic Anhydride Market by Raw Material
- 7.4.3.3.2UAE Maleic Anhydride Market by Application
- 7.4.3.4Saudi Arabia Maleic Anhydride Market
- 7.4.3.4.1Saudi Arabia Maleic Anhydride Market by Raw Material
- 7.4.3.4.2Saudi Arabia Maleic Anhydride Market by Application
- 7.4.3.5South Africa Maleic Anhydride Market
- 7.4.3.5.1South Africa Maleic Anhydride Market by Raw Material
- 7.4.3.5.2South Africa Maleic Anhydride Market by Application
- 7.4.3.6Nigeria Maleic Anhydride Market
- 7.4.3.6.1Nigeria Maleic Anhydride Market by Raw Material
- 7.4.3.6.2Nigeria Maleic Anhydride Market by Application
- 7.4.3.7Rest of LAMEA Maleic Anhydride Market
- 7.4.3.7.1Rest of LAMEA Maleic Anhydride Market by Raw Material
- 7.4.3.7.2Rest of LAMEA Maleic Anhydride Market by Application
Chapter 8.Company Profiles
- 8.1Huntsman Corporation
- 8.1.1Company Overview
- 8.1.2Financial Analysis
- 8.1.3Segment and Regional Analysis
- 8.1.4Research & Development Expense
- 8.1.5SWOT Analysis
- 8.2Mitsubishi Chemical Holdings Corporation
- 8.2.1Company Overview
- 8.2.2Financial Analysis
- 8.2.3Segmental Analysis
- 8.2.4Research & Development Expense
- 8.2.5SWOT Analysis
- 8.3Lanxess AG
- 8.3.1Company Overview
- 8.3.2Financial Analysis
- 8.3.3Segmental and Regional Analysis
- 8.3.4Research & Development Expenses
- 8.3.5SWOT Analysis
- 8.4Nan Ya Plastics Corp. (NPC)
- 8.4.1Company Overview
- 8.4.2Financial Analysis
- 8.4.3Segmental and Regional Analysis
- 8.4.4SWOT Analysis
- 8.5Nippon Shokubai Co., Ltd.
- 8.5.1Company Overview
- 8.5.2Financial Analysis
- 8.5.3Segmental and Regional Analysis
- 8.5.4Recent strategies and developments:
- 8.5.4.1Business Expansions:
- 8.5.5SWOT Analysis
- 8.6IG Petrochemicals Limited (IGPL)
- 8.6.1Company Overview
- 8.6.2Financial Analysis
- 8.6.3Regional Analysis
- 8.6.4Research & Development Expenses
- 8.6.5SWOT Analysis
- 8.7China National BlueStar (Group) Co, Ltd. (China National Chemical Corporation)
- 8.7.1Company Overview
- 8.7.2SWOT Analysis
- 8.8Yongsan Chemical Co., Ltd.
- 8.8.1Company Overview
- 8.8.2SWOT Analysis
- 8.9Aekyung Chemical Co., Ltd. (AK Holdings Co., Ltd.)
- 8.9.1Company Overview
- 8.9.2Financial Analysis
- 8.9.3SWOT Analysis
- 8.10.Ningbo Jiangning Chemical Co., Ltd. (Zhejiang Jiangshan Chemical Co., Ltd.)
- 8.10.1Company Overview
- 8.10.2SWOT Analysis
Chapter 9.Winning Imperatives of Maleic Anhydride Market